Janus Henderson Investors writes that, following the success of its pioneering AAA CLO ETF in the US, it has launched a UCITS vehicle for non-US investors: the Janus Henderson Tabula USD AAA CLO UCITS ETF (JAAA LN).
JAAA LN is managed by John Kerschner, Head of US Securitized Products and Colin Fleury, Head of Secured Credit, alongside securitised portfolio managers, Denis Struc, Jessica Shill and Ian Bettney.
The team has a successful, long-standing track record in CLO investing, with access to market-leading tools and systems enabling in-depth analysis of CLO collateral to identify relative value opportunities.
The fund will primarily invest in UCITS eligible USD AAA-rated CLOs, offering investors access to the high-quality, floating rate US AAA CLO market historically only made available to institutional investors, in a liquid and transparent ETF structure. The fund will also invest in EUR AAA-rated CLOs hedging currency exposure back to USD.
Janus Henderson writes that it has been at the forefront of active fixed income ETF innovation and has an extremely successful proposition, making it the third-largest provider of actively managed fixed income ETFs globally and the largest securitised active ETF manager.
The firm offers a number of fixed income ETFs, including the US-listed AAA CLO ETF which is the largest CLO ETF in the world, recently surpassing USD21 billion in AUM, and the recently launched Janus Henderson Tabula EUR AAA CLO UCITS ETF (JCL0) for non-US investors, which has reached over EUR150 million in AUM.
John Kerschner, Head of US Securitized Products, says: “Historically, accessing the CLO asset class has been challenging, as it typically requires significant scale and specialised expertise to manage effectively. We have demonstrated the benefits of this product offering to our clients in the US, including diversification, attractive floating-rate yield, high credit quality, and liquidity through various market events. We are thrilled we can now extend our expertise and scale to clients seeking access to this product through a non-US domiciled ETF structure”.
Ignacio De La Maza, Head of EMEA & LatAm Client Group, says: “Janus Henderson is the global leader in CLO ETFs, and there has been significant demand from clients around the world for the firm’s US-listed AAA CLO ETF. I’m delighted that we can now provide an investment solution to our clients in Europe, LatAm, and beyond”.
The Janus Henderson Tabula USD AAA CLO UCITS ETF (JAAA LN) is the latest addition to the firm’s active ETF proposition in Europe following the launch of the Janus Henderson Tabula Japan High Conviction Equity UCITS ETF (JCPN) in October 2024, the Janus Henderson Tabula Pan European High Conviction Equity UCITS ETF (JCEU) in November 2024 and the Janus Henderson Tabula EUR AAA CLO UCITS ETF (JCL0) in January 2025.
The fund is listed on the London Stock Exchange with ticker JAAA LN, with plans for additional listings in the EU and Switzerland. It will be available in all major European markets.
