Examples:
Allocation/Factor
Downside Risk
Source: MPI Stylus
Portfolio Construction ServicesHigh-end risk analysis tailored to advisors’ models/matrix that delivers actionable observations relating to asset allocation, risk management, diversifi cation and portfolio construction.
Labs: Portfolio Diagnostics Services
Portfolio Construction Services, which combines a quantitative analysis and a personal consultation, is designed to help build portfolios that meet client expectations.
Portfolio EvaluationIt’s important to recognize that the risk and return characteristics of a portfolio’s underlying investments be considered along with the unique needs, goals and risk considerations of your clients.
Portfolio construction should be a disciplined process that seeks to builda portfolio based on risk exposures and not just asset class assumptions or return expectations.
Comprehensive Model Analysis + Factor return decomposition
+ VaR, Downside and Max Drawdown analysis
+ Risk/Return Contribution
+ Correlation with corroboration via factor return decomposition
Value Proposition
This is a specifi c service developed, conducted and delivered by a highly experienced and knowledgeable team of investment professionals.
The PCS team will provide information in a concrete, concise manner such that advisors may gain insightful observations on how they have constructed their portfolios as well as a validating analysis that they will be able to share with their clients.
Continued on back page.
Helping Advisors Address Specifi c Client NeedsOur portfolio analysis considers the following factors in the pursuit of
properly positioned portfolios:
Allocation + Risk tolerance
+ Does current lineup align with allocation target?
+ Identify the source of the manager’s returns
Performance + Is the portfolio performing as expected?
+ Are individual investments performing as expected?
Risk Decomposition & Risk Budgeting + Perceived risk vs. actual risk
+ Manager contribution to risk
Diversification + Is asset exposure consistent with client expectations?
+ Monitoring manager intercorrelation is an essential step in building a fully diversifi ed investment portfolio.
Portfolio analysis and observations designed to help advisors meet client expectations while dealing with the uncertainty of future markets.
Produced wi th: M PI Stylus SoftwarePage 14 of 36
FOR INST IT UT IONAL USE ONLY/NOT FOR PUBLIC DIST RIBUT ION
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For more current performance information to the most recent month ended, please contact the investment company. All data is through month end. Not for use with the public.
Risk & Return Contribution
Portfolio Total Return Contribution
09/01/2011 - 08/31/2016
0
2
4
6
8
10
12
14
16
18
Ret
urn
Con
tribu
tion,
% o
f Tot
al
09/01/2011 - 08/31/2016
BlackRock Global Dividend InstlNuveen Short Duration Hi Yld Muni Bd INuveen Santa Barbara Dividend Growth IiShares Russell 1000 GrowthiShares Core S&P Mid-CapPIMCO Income InstlBlackstone Alternative Multi-Strategy IFranklin Income CJanus Balanced IiShares National Muni BondBaron Real Estate InstitutionalJanus Global Life Sciences IColumbia Seligman Comms & Info ZiShares Core S&P Small-CapCash1Barclays Municipal 10 Yr 8-12 TR USDMorningstar Mod Tgt Risk TR USD
Portfolio Average Risk Contribution
09/01/2011 - 08/31/2016
0
2
4
6
8
10
12
14
16
Ris
k C
ontri
butio
n, %
of T
otal
09/01/2011 - 08/31/2016
BlackRock Global Dividend InstlNuveen Short Duration Hi Yld Muni Bd INuveen Santa Barbara Dividend Growth IiShares Russell 1000 GrowthiShares Core S&P Mid-CapPIMCO Income InstlBlackstone Alternative Multi-Strategy IFranklin Income CJanus Balanced IiShares National Muni BondBaron Real Estate InstitutionalJanus Global Life Sciences IColumbia Seligman Comms & Info ZiShares Core S&P Small-CapCash1
Portfolio Construction Services
Janus Henderson Portfolio Construction Services and the Portfolio Diagnostic Report are not investment advice and should not be construed or intended to be an offer of any type, including tax, legal, or investment advice. In addition, they are not a solicitation by Janus Henderson Distributors for the purchase or sale of any funds, nor are they a recommendation of any funds. The reports do not take into consideration a specifi c investor’s circumstances, and no determination has been made as to whether any of the funds would be suitable for a particular investor. The illustrations are intended for broker/investment adviser use only and may not be disseminated or distributed beyond the intended recipients.
Janus Henderson Distributors
Janus Henderson is a trademark of Janus Henderson Investors. © Janus Henderson Investors. The name Janus Henderson Investors includes HGI Group Limited, Henderson Global Investors (Brand Management) Sarl and Janus International Holding LLC.
C-0517-8539 01-30-18 166-15-47428 05-17
To learn more about Portfolio Construction Services, please contact your Janus Henderson representative at 877.335.2687.
Examples:
Value at Risk
Risk & Return Contribution
Source: MPI Stylus