The Janus Henderson International Dividend Fund achieved a 2.91% return, lagging behind the MSCI World ex-USA Index's 5.33% during the third quarter of 2025. This performance divergence stemmed from varying contributions across market sectors. While strategic selections within the information technology and consumer discretionary segments bolstered the fund's relative returns, its under-allocation and specific stock choices in the financials and materials sectors proved to be a drag on overall performance. These findings highlight the dynamic nature of global investment environments and the nuanced impact of sector-specific decisions on fund outcomes.
Looking ahead, the fund managers continue to identify attractive investment opportunities spanning diverse industries and geographic locations. Their ongoing commitment is to generate substantial capital and income growth for investors over the medium to long term, navigating through current geopolitical and economic uncertainties with a focused strategy. The approach emphasizes careful sector and regional selection, particularly eyeing areas poised for growth driven by supportive policy changes, such as fiscal expansion in Europe and economic stabilization in China, underscoring a belief in active management's ability to uncover value.
Addressing concerns about AI's disruptive potential, particularly regarding holdings like RELX and Publicis, the fund maintains its positions. The conviction is that these companies possess resilient business models and long-term growth prospects that are not adequately reflected in market anxieties over near-term AI-induced shifts. This perspective underscores a strategic focus on fundamental value and an enduring commitment to companies believed capable of adapting and thriving amid technological evolution, aiming for sustained investor benefit.
In a world characterized by constant change and unforeseen challenges, a forward-thinking investment philosophy that prioritizes adaptability and long-term vision is crucial. By meticulously analyzing market trends, embracing strategic flexibility, and maintaining confidence in well-researched investments, it's possible to transform potential obstacles into pathways for growth. This proactive stance not only aims to achieve financial success but also inspires a positive outlook towards future market dynamics, fostering resilience and opportunity.