After bringing on bond guru Bill Gross to run its Global Unconstrained Bond Fund, Janus Capital Group is now working on an exchange traded fund adaptation.
According to a preliminary Securities and Exchange Commission filing, the regulator is looking over an application for the Janus ETF Trust under the Investment Company Act of 1940 for an actively managed series.
While it is not a forgone conclusion that the company will act on the filing if the SEC grants a final approval, Janus chief executive Richard M. Weil has hinted on his desire to bring Gross’ management style out with an ETF, reports Trevor Hunnicutt for InvestmentNews.
A proposed Janus ETF could act very similarly to the Janus Global Unconstrained Bond Fund (JUCAX). However, unlike the mutual fund version, the ETF would disclose its positions on a daily basis.
“On each Business Day, before commencement of trading in Shares on a Fund’s Listing Market, the Fund will disclose on the Website the identities and quantities of the Portfolio Positions and other assets held by the Fund, or its respective Master Fund, that will form the basis for the Fund’s calculation of NAV per Share at the end of the Business Day,” according to a SEC filing.
The ETF would invest in government notes and bonds, corporate bonds, convertible bonds, commercial and residential mortgage-backed securities, asset-backed securities, zero-coupon bonds, and derivatives that provide exposure to bonds.