At a 2,000-employee, $353-billion-AUM (as of March 31), publicly traded, multinational asset manager, the team is celebrating a big milestone for another one of their actively managed bond funds.

Last week, John Kerschner, head of U.S. securitized products at Janus Henderson Investors [profile], and Michael Schweitzer, head of head of Janus Henderson' North America client group, revealed that the Janus Henderson B-BBB CLO ETF (JBBB on the Cboe BZX Exchange, Inc.) has surpassed $1 billion in AUM. As of yesterday, the ETF held $1.08 billion.

JBBB is a series of the Janus Detroit Street Trust, and the fund's birthday was January 11, 2022. It comes with an expense ratio of 49 basis points (which bakes in a 1bps fee waiver promised through February 28, 2025).

Kerschner and Nick Childs have co-PMed JBBB since its inception, and Jessica Shill joined up as a co-PM last year. Janus Henderson serves as the ETF's administrator and investment advisor.

JBBB's milestone comes a month after its older, bigger sibling crossed an even bigger AUM milestone, as previously reported. The Janus Henderson team claims that JBBB is the second largest CLO ETF (which its sibling is the largest).

"We have continued to see strong investor demand for our CLO ETFs and other securitized funds," Kerschner states.

Schweizter describes BBB CLOs as "underrepresented in portfolios relative to other higher income solutions."

"We believe the growth of JBBB speaks to janus Henderson's continued focus on product innovation, competitive pricing and investment excellence," Schweitzer states.

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

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