On the lookout for a Mid Cap Growth fund? Starting with Janus Henderson Enterprise Institutional (JAAGX) is one possibility. JAAGX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

We note that JAAGX is a Mid Cap Growth fund, and this area is also loaded with many different options. Companies are usually considered growth stocks when they consistently report notable sales and/or earnings growth. Thus, Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers.

History of Fund/Manager

JAAGX is a part of the Janus Fund family of funds, a company based out of Boston, MA. Since Janus Henderson Enterprise Institutional made its debut in September of 1993, JAAGX has garnered more than $630.93 million in assets. The fund is currently managed by Brian Demain who has been in charge of the fund since November of 2007.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 11.92%, and it sits in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 8.15%, which places it in the top third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 21.82%, the standard deviation of JAAGX over the past three years is 18.28%. Over the past 5 years, the standard deviation of the fund is 17.54% compared to the category average of 23.12%. This makes the fund less volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.98, so it is likely going to be as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. JAAGX's 5-year performance has produced a negative alpha of -2.86, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

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Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, JAAGX is a no load fund. It has an expense ratio of 0.72% compared to the category average of 1.04%. From a cost perspective, JAAGX is actually cheaper than its peers.

While the minimum initial investment for the product is $0, investors should also note that there is no minimum for each subsequent investment.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, Janus Henderson Enterprise Institutional ( JAAGX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, better downside risk, and lower fees, Janus Henderson Enterprise Institutional ( JAAGX ) looks like a good potential choice for investors right now.

For additional information on this product, or to compare it to other mutual funds in the Mid Cap Growth, make sure to go to www.zacks.com/funds/mutual-funds for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.

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