Janus Henderson Global Adaptive Capital Growth Managed Account Q4 2025 Commentary

Janus Henderson Investors3.61K FollowersFollow5ShareSavePlay(7min)CommentsSummaryThe Portfolio returned 2.99% (gross) and the 80% MSCI ACWI / 20% Bloomberg Glb Agg 3-5 Yr Index returned 2.76%.Equity investments contributed, especially in the U.S. Positioning in the fixed income market detracted.We see a supportive environment for risk assets, given the outlook for relatively stable growth and potential for additional interest rate cuts. primeimages/iStock via Getty Images Portfolio management Ashwin Alankar, Ph.D. Investment environment Global equities rose on signs of stable economic growth, positive corporate earnings, and hopes for central-bank rate cuts outside of Japan. The U.S. Federal Reserve (Fed) reduced rates twice during the quarter. This article was written byJanus Henderson Investors3.61K FollowersFollowJanus Henderson Investors exists to help clients achieve their long-term financial goals. Formed in 2017 from the merger between Janus Capital Group and Henderson Global Investors, we are committed to adding value through active management. For us, active is more than our investment approach – it is the way we translate ideas into action, how we communicate our views and the partnerships we build in order to create the best outcomes for clients. While our investment managers have the flexibility to follow approaches best suited to their areas of expertise, overall our people come together as a team. This is reflected in our Knowledge. Shared ethos, which informs the dialogue across the business and drives our commitment to empowering clients to make better investment and business decisions.www.janushenderson.com