Fund manager Janus Henderson has today launched what it claims is the first active Exchange Traded Fund (ETF) in Europe - the Janus Henderson Tabula Japan High Conviction Equity UCITS ETF (JCPN).

The launch is the first of a new range of actively managed ETFs set to be launched by the firm.

The Ongoing Charges Figure (OCF) for the Japanese-equity focused fund is 0.49%, higher than many passive ETFs but lower than many non-ETF actively managed funds.

Janus Henderson says it will use its expertise in Japanese equities and ETFs to give investors an “alternative way” to access the firm’s knowledge of the Japanese market.

The fund will take a high conviction approach and will invest in an actively- managed, all-cap concentrated portfolio of 20 to 30 holdings.

The fund aims to provide exposure to companies set to benefit from structural themes and trends in the Japanese equity market.

Janus Henderson says the launch represents an important milestone for Janus Henderson, allowing it to cater to client demand globally for its investment strategies and offer a UCITS ETF wrapper.

In the US Janus Henderson claims to be the fourth largest provider of actively-managed fixed income ETFs.

Ignacio De La Maza, head of EMEA & LatAm client group at Janus Henderson, said:  “This launch marks the beginning of our journey; we are poised to introduce a series of active ETFs over the next twelve months, each of which will cater to a different customer need.”

Lucas Klein, head of EMEA and Asia Pacific Equities, said: "This new offering brings high conviction active management to ETF Investors in Europe, and other important markets globally, while also providing existing clients with another way to access our world class investment teams. JCPN highlights the strength of our global investment teams whose local expertise and deep fundamental research can deliver consistent alpha for our clients".

The fund will be managed by Janus Henderson Investors UK Limited (JHIUK) and advised by experienced portfolio manager and head of Japanese Equities and the Japan High Conviction Equity Strategy, Junichi Inoue.

Junichi Inoue said: “We believe that now is the ideal time to invest in Japan, with a sustainable inflation outlook and corporate governance reform, businesses are becoming more shareholder-friendly and providing stronger investment opportunities. We have a rich history of Japanese equity investing through stock-specific analysis which means we are able to invest in companies with greater potential for generating superior returns for our clients”.

Michael John Lytle, CEO of Tabula, said: “Until recently ETFs have been synonymous with passive investing and this has driven enormous growth of the market. However, the majority of UCITS assets remain in actively managed funds. The efficiency of the ETF vehicle makes it a natural way of delivering compelling content to clients.”

In May 2024, Janus Henderson announced that it had signed an agreement to acquire European ETF provider Tabula Investment Management. The acquisition completed in July.

The fund will initially list on Xetra with ticker JCPN, followed by listings on the London Stock Exchange and Borsa Italiana. It will be available in all major European markets.