Having trouble finding a Mid Cap Growth fund? Janus Henderson Enterprise I (JMGRX Quick QuoteJMGRX - Free Report) is a potential starting point. JMGRX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

JMGRX is part of the Mid Cap Growth section, a segment that boasts a wide array of possible selections. While Mid Cap Growth mutual funds choose companies with a stock market valuation between $2 billion and $10 billion, stocks in these funds are also expected to show broad considerable growth opportunities for investors compared to their peers. To be considered a growth stock, companies must consistently report impressive sales and/or earnings growth.

History of Fund/Manager

Janus Fund is based in Boston, MA, and is the manager of JMGRX. The Janus Henderson Enterprise I made its debut in November of 2005 and JMGRX has managed to accumulate roughly $9.58 billion in assets, as of the most recently available information. Brian Demain is the fund's current manager and has held that role since November of 2007.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 8.22%, and it sits in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 10.16%, which places it in the middle 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. JMGRX's standard deviation over the past three years is 13.9% compared to the category average of 12.06%. The fund's standard deviation over the past 5 years is 15.83% compared to the category average of 13.51%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.95, so it is likely going to be less volatile than the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. With a negative alpha of -5.34, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

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, JMGRX is a no load fund and it has an expense ratio of 0.76%.

While the minimum initial investment for the product is $2,500, investors should also note that there is no minimum for each subsequent investment.

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

Bottom Line

This puts this fund from Janus Fund in the top 40% of all mutual funds we have a rank on right now. As a result, this is likely an excellent choice for investors seeking an option in the Mid Cap Growth category.

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