Janus Henderson UK Responsible Income Fund on London Stock Exchange Group plc
Thesis
The fund groups London Stock Exchange Group with other data and information-services holdings that have been weak because investors fear disruption from rapid AI development. The managers explicitly disagree with that disruption narrative and believe the shares remain attractively valued relative to their long-term prospects. The long thesis is that durable data and information franchises are being discounted too heavily because of AI fears. ([London Stock Exchange][2])
“We continue to disagree with this view and, despite some better share price performance recently, we believe these companies remain attractively valued given their long-term prospects.”
Key risks
- AI develops into a more disruptive threat to established data and information-service business models than the managers expect