MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 17, 2024 A 29-Year-Old Fund Is Transformed to Fight Cancer The team at a publicly traded, $361-billion-AUM (as of June 30), 2,000-employee, multinational asset manager are transforming a 29-year-old mutual fund as part of a pledge to support a charity that fights cancer via research, patient support, and advocacy.
Per the new ACS partnership, Janus Henderson has agreed to set aside half of the money fund's management fees each quarter and donate that half to the ACS. The fund firm has promised to donate at least $1 million per year for at least three years. (In contrast to another cancer-focused fund-charity relationship, this new partnership doesn't involve the charity taking an ownership stake in fund firm, though.) Along with the ACS partnership, the Janus Henderson has revamped the Janus Henderson Government Money Market Fund's two share classes, effective September 4. D shares (for direct sale to individual investors) are now called "American Cancer Society Support - Class D Shares," their ticker switched from JGVXX to ACDXX, and their expense ratio remains 58 basis points. T shares (fka J shares) (available through certain intermediaries) are now called "American Cancer Soceity Support - Class T Shares," their ticker switched from JAGXX to ACTXX, and their expense ratio rermains 60bps. (The share class now known as T shares is the fund's original share class, and its inception date was February 14, 1995. D shares launched on February 16, 2010.) Within the expense ratios for ACTXX and ACDXX, the management fee is the same: 20bps. Thus, Janus Henderson's pledge amounts to a promise to donate 10bps from the money fund's AUM (starting at a minimum of $1 million per year). As of August 31, 2024, the fund had $401.13 million in AUM. (If the fund surpasses $50 billion in AUM, an increase of more than a hundred fold, the Janus Henderson team says they will lower the percentage donated to ACS.) "It's our sincere hope this partnership will help create a brighter future for many," Dibadj states. "Among cancer's many impacts, the financial burden of a diagnosis can be devastating." "Through this initiative, Janus Henderson and our clients can now easily support ACS' critical work in advocacy, research, and patient suppot, helping to improve the lives of both cancer patients and their families," Dibadj adds. Knudsen calls ACS' new Janus Henderson partnership an "innovative fundraising method." "Their generous support will increase our ability to fund groundbreaking research, advocate for better access to care at the federal and local levels, and provide direct patient support to help us end cancer as we know it, for everyone," Knudsen states. Janus Henderson Investors US LLC serves as investment advisor to ACDXX and ACTXX. The fund's PM team includes: Vincent Ahn, executive vice president and co-portfolio manager since December 2022; and Garrett Strum, EVP and co-PM since May 2017. ACTXX and ACDXX's other service providers include: BNP Paribas as custodian; Janus Henderson Distributors US LLC as distributor; and Janus Henderson Services US LLC as transfer agent. Printed from: MFWire.com/story.asp?s=67915 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
