Janus Henderson USD AAA CLO Active Core UCITS ETF - USD Acc

Objectives and investment policy Investment Objective: The Fund aims to provide a return from a combination of income and capital growth over the long term by investing in an actively managed portfolio of AAA-rated collateralised loan obligations (CLOs). The Fund is actively managed with reference to the J.P. Morgan Collateralized Loan Obligation Index AAA (CLOIE AAA). The Sub-Fund’s portfolio may deviate significantly from the benchmark. Investment Approach: The Fund will invest at least 80% of its Net Asset Value in eligible CLOs of any maturity that are rated AAA (or equivalent by a nationally recognised ratings agency) at the time of purchase with a focus on US CLOs. In case securities in the portfolio are downgraded below a rating of AAA (or equivalent), the Investment Manager will seek to sell the relevant securities as soon as reasonably possible, provided that it determines that it is in the best interests of investors The Fund may invest up to 5% of its Net Asset Value in a single CLO security, 15% of its Net Asset Value in CLOs managed by an individual manager and 10% of its Net Asset Value in fixed rate securities that are hedged back to floating rate. The func can invest in Non-USD denominated securities hedged back to USD. The Fund will not invest more than 10% of its Net Asset Value in Eligible Collective Investment Schemes. Derivatives may be used for the purposes of hedging/risk reduction specifically interest and foreign currency exchange rates. For treasury management and/or defensive purposes (e.g. in case of unfavourable market conditions), the Fund may invest in cash and Money Market Instruments. The Fund’s major part of currency exposure is hedged to base currency. The Fund promotes environmental and social characteristics, as defined under Article 8 of SFDR