Janus Henderson has announced the launch of an active mortgage-backed securities (MBS) exchange-traded fund (ETF) for European investors.

The Janus Henderson Tabula MBS UCITS ETF (JMBS) is 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.

It has been listed on the London Stock Exchange with ticker JMBS LN and is available in all major European markets.

The fund provides actively managed exposure to agency MBS, investing primarily in agency MBS but it may include up to 10 per cent exposure to non-agency MBS as it seeks to enhance yield and improve diversification.

It will be managed by portfolio managers John Kerschner, Nick Childs, and Thomas Polus, who will be supported by a team of investors responsible for over $15bn of MBS and form part of the broader Janus Henderson securitised platform.

Janus Henderson made the strategy available to non-US investors following “strong client adoption” in the US.

“JMBS is well-suited to investors looking to generate income while also seeking to insulate their portfolio during risk-off environments,” stated Janus Henderson head of Us securitised products, John Kerschner.

“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”.

Janus Henderson head of EMEA & LatAm client group, Ignacio De La Maza, 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."

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