Janus Henderson Investors is today announcing the launch of the Janus Henderson Tabula Mortgage-Backed Securities UCITS ETF (JMBS LN). This is the latest addition to Janus Henderson’s active ETF proposition and the firm’s third active fixed income ETF in Europe following the launch of the EUR AAA CLO ETF in January and the USD AAA CLO ETF in March.

JMBS provides actively managed exposure to agency mortgage-backed securities (MBS), a $9 trillion(1) asset class. The Fund invests primarily in agency MBS but may also include up to 10% exposure to non-agency MBS to enhance yield and improve diversification. Agency MBS offer the same credit quality as US Treasuries but with a higher yield, and have historically provided low correlation to both equities and high yield corporates.

JMBS will be managed by seasoned portfolio managers John Kerschner, Nick Childs and Thomas Polus, who are supported by an experienced team of investors responsible for over $15 billion in mortgage-backed securities(2), and form part of the broader Janus Henderson Securitised platform. The firm has significant experience in securitised fixed income investing globally, managing assets totalling over $44.6 billion(3).

The firm’s agency mortgage-backed strategy has seen strong client adoption in the US driven by the team’s disciplined investment process that has consistently delivered outperformance(4) while maintaining benchmark correlations similar to passive products. This launch makes the successful strategy available to non-US investors.

John Kerschner, Head of US Securitised Products, said: “JMBS is well-suited to investors looking to generate income while also seeking to insulate their portfolio during risk-off environments.

Active management is essential to capturing opportunities in the MBS market given its complexity and the unique prepayment risk associated with these securities. By conducting detailed analyses of specific mortgage pools, we can mitigate risks and exploit market inefficiencies—such as variations in geography, loan characteristics, and participant motivations—with the aim of enhancing yield and improving portfolio diversification”.

Ignacio De La Maza, Head of EMEA & LatAm Client Group, said: “As an active manager with deep insights into the MBS market and a proven track record, our highly experienced portfolio managers and team of securitised analysts are well-placed to identify potential opportunities and enhance returns for investors.

I am thrilled we can now offer another ETF solution to our clients, extending our considerable expertise in securitised investing across EMEA, LatAm and beyond." The fund is listed on the London Stock Exchange with ticker JMBS LN and is available in all major European markets.