Janus Henderson’s biotechnology hedge fund has experienced a surge in demand, particularly among Asia-based family offices, driving the firm’s overall growth in the region, with assets jumping from $800m in November 2023 to over $2bn by September 2024, according to a report by CityWire.
The report cites Andrew Hendry, CEO Asia and Head of the Asia Client Group at Janus Henderson Investors as highlighting that the firm attributes this growth to strong performance, effective client servicing, and robust referrals.
“Momentum has been building since mid-2024 after 18 months of focused effort,” said Hendry, who since taking the helm in 2022, has seen Janus Henderson’s assets under management (AUM) in Asia grow by 15%, reaching $38bn by September. The intermediary channel, accounting for 85% of regional AUM, has seen significant gains, with the firm expanding its private bank partnerships from three to seven of Asia’s top 10 banks.
Janus Henderson also launched six new funds in Hong Kong and Singapore this year, including strategies focused on global life sciences, technology leaders, and small-cap equities. The firm’s biotech hedge fund success has been complemented by placements of its long-only biotech and life sciences strategies for clients with smaller investment tickets.
On the institutional side, the firm secured new relationships with two North Asian sovereign wealth funds, while strengthening its presence in Singapore through partnerships with regional insurers and banks.
While family offices have emerged as a key growth driver for Janus Henderson, servicing this segment is resource-intensive. “Family offices are an expensive channel to cover,” said Hendry. “It requires persistent effort and results often take time to materialise.”
The firm has adopted an intensive servicing model to cater to the sophisticated needs of family offices, many of which are led by former Chief Investment Officers and CEOs of private banks. Regular roadshows, group sessions, and quarterly webinars help maintain relationships and keep clients informed.
Despite the challenges, the strategy has paid off. Referrals have played a critical role in growth, and family offices contributed significantly to the biotech hedge fund’s asset surge.
