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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Janus Henderson Global Sustainable Equity Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"The fund delivered 16.17% in Q2 2026, outperforming on concentrated AI infrastructure exposure as hyperscaler capex surged past 60% growth. Seagate, Micron, and TSMC drove returns while perceived AI disruption victims lagged."
The Janus Henderson Global Sustainable Equity Fund returned 16.17% in Q2 2026, outperforming its benchmark by 301 basis points, driven primarily by overweight exposure to information technology and AI infrastructure. The quarter tested the resilience framework through geopolitical shocks, with the US-Iran conflict keeping oil prices elevated before a late-quarter ceasefire triggered a sharp decline. Despite macro volatility, markets focused on the durability of corporate earnings and the scale of the AI capital cycle, with hyperscaler capex commitments rising to over 60% growth. The fund increased exposure to AI infrastructure bottlenecks including memory, semiconductors, and power equipment, with Seagate, Micron, and TSMC among the strongest contributors. Conversely, companies perceived as facing AI disruption risk underperformed, including Intercontinental Exchange, S&P Global, and Spotify. After strong AI performance, managers trimmed winners and redeployed into quality businesses trading at attractive valuations. The portfolio maintains a barbell approach of genuine AI beneficiaries alongside resilient companies with durable moats, positioned to navigate both opportunities and risks in an evolving landscape where sustainability and energy security remain central themes.
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