Navigating Market Dynamics for Sustainable Returns

Examining the Investment Landscape and Fund Performance in Q4 2025

In the final quarter of 2025, the market experienced a notable shift where dividend-focused equities lagged behind the overall market's performance. The Janus Henderson Growth and Income Fund's strategic emphasis on high-quality companies with consistent dividend growth, while a core tenet of its philosophy, presented a slight headwind to its relative returns during this period.

U.S. Market Surge and Federal Reserve Actions

The U.S. stock market witnessed a significant uplift, driven by encouraging corporate earnings reports and a prevailing sentiment of optimism regarding future interest rate reductions by the Federal Reserve. Following a rate cut in September, the Fed implemented two additional reductions of 25 basis points each in October and December, aiming to stimulate economic activity.