Janus Henderson Growth And Income Managed Account Q3 2025 Commentary (Mutual Fund:JAGIX)

Janus Henderson Investors 3.6K Follower s Follow 5 Share Save Play ( 9min ) Comments Summary The Portfolio returned 6.92% (gross) and the S&P 500® Index returned 8.12%. Our emphasis on high-quality, dividend-growth stocks hindered relative performance in a momentum-driven market led by non- or lower-dividend-paying mega-cap technology stocks. We maintain an optimistic outlook on continued economic growth, supported by substantial technology infrastructure investment and productivity gains. This productivity dynamic is boosting margins and supporting earnings growth despite tariff pressures and rising costs. We believe our emphasis on companies with consistent cash flows and healthy balance sheets can help buffer shareholder returns as we navigate economic and policy uncertainties. Torsten Asmus/iStock via Getty Images At a glance Performance The Portfolio returned 6.92% (gross) and the S&P 500® Index returned 8.12%. Contributors/detractors Stock selection in the communication services and energy sectors contributed to relative performance, while stock selection in information This article was written by Janus Henderson Investors 3.6K Follower s Follow Janus 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

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