Active China equity ETF: Janus Henderson lists JCHN on the London Stock Exchange

Janus Henderson Investors has added an active China equity ETF to its European range. The Janus Henderson China Equity Active Core UCITS ETF (ticker JCHN) was listed on the London Stock Exchange on 9 November 2026.

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Article created by the editorial staff of ETFWorld.co.uk

Ignacio De La Maza, Head of EMEA & LatAm Client Group at Janus Henderson

The Janus Henderson China Equity Active Core UCITS ETF invests in around 100 to 150 Chinese companies, targets the MSCI China 10/40 Index and carries a TER of 0.39%.

The fund aims to outperform the MSCI China 10/40 Index over the long term with a portfolio of around 100 to 150 Chinese companies. The launch extends the range of Janus Henderson active ETFs available to UK and European investors.

Key facts

On the London Stock Exchange, the ETF trades in the ETFS segment with Euroclear Bank settlement. The net asset value per share was USD 10.27 on 9 November 2026.

Investment objective and the MSCI China 10/40 benchmark

The sub-fund aims to outperform the MSCI China 10/40 Index over the long term.

Under normal circumstances, at least 80% of the fund’s assets are invested in:

China A shares, H shares and B shares;

Red Chips and P Chips;

depositary receipts of Chinese companies;

other developed market equities, where used in connection with derivative strategies.

The fund can gain exposure to China A shares directly or through financial derivative instruments. Derivatives may also be used for investment purposes, efficient portfolio management and hedging, including currency hedging. Up to 10% of net assets may be held in other eligible collective investment schemes, and the fund may hold cash for liquidity purposes.

How the active China equity strategy works

Janus Henderson describes the process as a combination of fundamental and thematic research with quantitative portfolio construction. The quantitative model determines the final portfolio composition and is designed to limit active risk — that is, how far the fund can deviate from its benchmark.

According to the issuer, the portfolio balances two groups of companies: those linked to structural growth themes in the Chinese economy, and those with attractive valuations and improving shareholder returns.

The Greater China equities team, led by Victoria Mio, provides bottom-up company research and investment recommendations. These are used as inputs to the quantitative model.

Portfolio managers

The ETF is managed by three portfolio managers:

Benjamin Wang, CFA – Portfolio Manager, Quantitative Solutions. In the industry since 2005 and at Janus Henderson since 2012.

Zoey Zhu, CFA – Portfolio Manager, Quantitative Solutions. In the industry since 2013 and at Janus Henderson since 2018.

Victoria Mio, CFA – Head of Greater China Equities and Portfolio Manager. In the industry since 1998 and at Janus Henderson since February 2024.

Before joining Janus Henderson, Mio spent 14 years at Robeco, where her last role was chief investment officer China and co-head of Asia Pacific equities. She previously headed Asia Pacific equity research at Fidelity International.

Janus Henderson active ETFs in Europe

JCHN is the latest addition to the Janus Henderson range of active UCITS ETFs. The firm entered the European ETF market in 2024 through the acquisition of Tabula Investment Management. Its first active UCITS ETF in Europe, the Japan High Conviction Equity UCITS ETF (JCPN), was launched in October 2024.

Since then, the range has expanded across equities and fixed income. In May 2026, Janus Henderson listed seven active UCITS ETFs on the London Stock Exchange.

Costs and share class

The ETF carries a total expense ratio of 0.39% a year. The issuer states that the TER is a single all-in fee covering the fund’s ongoing fees and expenses. There is no initial charge.

The listed share class is denominated in US dollars and accumulates income.

Main risks

The issuer’s documentation highlights several risks specific to this fund:

Emerging market risk: higher volatility, exposure to political and economic events, and less robust custody and settlement procedures than in developed markets.

Stock Connect: investment in China A shares through the Stock Connect programme may add operational, regulatory, liquidity and settlement risks.

Concentration: exposure to a single country carries higher risk than a more broadly diversified portfolio.

Derivatives: a counterparty may fail to meet its contractual obligations.

Currency: investors whose reference currency is not the US dollar are exposed to exchange-rate movements.

Active management: techniques that have worked in normal market conditions may prove ineffective at other times.

As the share class was launched in November 2026, no performance history is available yet.

Conclusions

With JCHN, Janus Henderson adds a single-country emerging market equity strategy to its European active ETF range. The fund combines fundamental research on Chinese companies with a quantitative model that controls deviation from the MSCI China 10/40 benchmark, at a TER of 0.39%.

The ETF is currently traded on the London Stock Exchange in US dollars. Its track record against the benchmark will be the next point to monitor.

Source : ETFWorld.co.uk