Janus Henderson Investors has launched a new ETF offering non-US investors access to “high-quality, floating-rate USD AAA collateralised loan obligations (CLO) through a Ucits structure.
Listed on the London Stock Exchange, the Janus Henderson Tabula USD AAA CLO Ucits ETF will primarily invest in Ucits-eligible USD AAA-rated collateralised loan obligations (CLOs), and will also include EUR AAA-rated CLOs with currency exposure hedged back to USD.
According to the provider, this provides investors with a liquid, transparent way to access a high-quality, floating-rate asset class often viewed as a resilient fixed income segment, particularly in rising interest rate environments. The offering is set to roll out across major European markets, with further listings planned in the EU and Switzerland.
The asset management firm is currently “the third-largest provider of actively managed fixed income ETFs globally”. Its US-listed AAA CLO ETF recently surpassed $21 billion in assets under management, while its European Ucits equivalent, launched in January 2025, has already exceeded €150 million in assets under management.
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This is the latest addition to the firm’s growing Ucits ETF range, following the launches of equity-focused products such as the Japan High Conviction Equity Ucits ETF and the Pan European High Conviction Equity UCITS ETF in late 2024.
The fund is managed by John Kerschner, head of US securitised products, and Colin Fleury, head of secured credit, alongside portfolio managers Denis Struc, Jessica Shill and Ian Bettney.
Kerschner commented: “Historically, accessing the CLO asset class has been challenging, as it typically requires significant scale and specialised expertise to manage effectively. We have demonstrated the benefits of this product offering to our clients in the US, including diversification, attractive floating-rate yield, high credit quality, and liquidity through various market events. We are thrilled we can now extend our expertise and scale to clients seeking access to this product through a non-US domiciled ETF structure”.
Ignacio De La Maza, head of Emea & LatAm Client Group, added: “Janus Henderson is the global leader in CLO ETFs, and there has been significant demand from clients around the world for the firm’s US-listed AAA CLO ETF. I’m delighted that we can now provide an investment solution to our clients in Europe, LatAm and beyond”.
