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Rating:Jaaa, This Active ETF Reached $10B Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 12, 2024

Jaaa, This Active ETF Reached $10B

Reported by Neil Anderson, Managing Editor

The team at a $353-billion-AUM (as of March 31), publicly traded, multinational asset manager may be popping some champagne bottles open.

Nick Cherney
Janus Henderson Investors
Head of Innovation
On Monday, a trio of Janus Henderson Investors [profile] leaders — Nick Cherney, head of innovation; John Kerschner, head of U.S. securitized products; and Michael Schweitzer, head of North America client group — revealed that the Janus Henderson AAA CLO ETF (JAAA on the NYSE Arca, Inc.) has surpassed $10 billion in AUM. As of yesterday, the fund had $10.18 billion in AUM. That's a 135-percent increase in 230 days.

JAAA is an actively managed fund that comes with an expense ratio of 21 basis points, which bakes in a 1bps fee waiver promised through February 28, 2025. The ETF is a series of Janus Detroit Street Trust.

Kerschner frames the growth of JAAA by calling AAA CLOs "an attractive addition to portfolios due to their diversification benefits, low interest rate volatility, attractive returns, and strong credit ratings." Cherney notes that Janus Henderson is "the fourth largest active fixed income ETF provider globally," and the Janus Henderson team lays claim to JAAA being the single largest CLO ETF.

"We have continued to see strong investor demand across our active fixed income ETF suite this year," Cherney states.

"The exceptional growth of JAAA and our suite of actively managed fixed income ETFs is a testament to our commitment to product innovation, competitive pricing, and investment excellence," Schweitzer states.

The AUM milestone comes less than four years after JAAA's inception on October 16, 2020.

Janus Henderson Investors US LLC serves as JAAA's investment advisor. The ETF's PM team includes: Nick Childs, co-portfolio manager since inception; Kerschner, co-PM since inception; and Jessica Shill, co-PM since January 2023.

JAAA's other service providers include: SS&C's Alps Distributors, Inc. as distributor; JPMorgan Chase Bank, N.A. as custodian, securities lending agent, sub-administrator, and transfer agent; and PricewaterhouseCoopers LLP as independent accounting firm. 

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