This Mid-Cap Growth Fund Plots a Steady Course
Unlike many of its peers, Bronze-rated Janus Enterprise focuses on more-stable companies, which has helped it in down markets and lower-return environments.
Greg Carlson: Janus Enterprise (JAENX) is a mid-cap growth fund that receives a Morningstar Analyst Rating of Bronze. We like its long-term prospects. Brian Demain has managed the fund for more than eight years now. He tends to favor companies with relatively stable revenue streams, competitive advantages over their industry peers, and he tends to own those companies for a long time--an average of five to six years. Those traits are relatively rare in a mid-cap growth world where managers often focus on rapid growers or more-speculative companies.
As a result, the fund doesn't tend to do as well in big rallies such as 2009 and 2013. However, it tends to hold up better in down markets such as 2008 and lower-return environments such as 2015. In fact, the fund has done so well in 2015 that investors are really taking notice. They have invested more than $2.4 billion in the fund through November. As a result, Demain runs a total of $8 billion in his strategy now. That's a pretty sizable amount for a mid-growth strategy. However, he thinks he is capable of running significantly more money, and we agree because of his low-turnover strategy and also because he doesn't tend to take big bets on individual stocks. The fund also has well-below-average fees, which has given it a nice long-term advantage over its competition. As a result, we think it's an excellent long-term holding.
Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
We’d like to share more about how we work and what drives our day-to-day business.
We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.
How we use your information depends on the product and service that you use and your relationship with us. We may use it to:
To learn more about how we handle and protect your data, visit our privacy center.
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.
To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.
Read our editorial policy to learn more about our process.