Janus Funds: Triton Fund (JATTX)
Also managed by Jonathan Coleman, the Janus Triton Fund (JATTX) seeks to invest in smaller growth companies that can grow into larger, midcap businesses.
JATTX turns over the entire portfolio about once every two-and-a-half years, so its small- to midcap mandate means Coleman is holding stocks much longer than he would with a small-cap mutual fund like JAVTX above.
Although Janus Funds’ offerings have suffered serious setbacks in recent years, the Triton is a shining beacon within the mutual fund industry. Over the past five years, the Triton fund has achieved an annual total return of 27.7%, or 79 basis points less than the Venture fund. The big difference between the two mutual funds is that the Triton is 65% invested in midcap stocks, with the remainder in small- and microcap stocks, while the Venture is the opposite way around. Long-term, I see mid-cap stocks outperforming small-cap stocks.
JATTX’s management expense ratio of 0.95% is considerably lower than the Morningstar category average of 1.45%.