Janus Enters Eye of the Repo Storm With a $35 Million Yen Wager
- Janus ETF added short-term USD/JPY forward contracts this week
- ‘If you’re cash rich,’ good investments lurk, ETF manager says
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Janus Henderson Group LP sees a trading opportunity in the global dollar shortage that triggered a surge in overnight repo rates this week.
The firm’s $1.1 billion Janus Short Duration Income exchange-traded fund, which trades under the ticker VNLA, entered into $35 million worth of dollar-yen forward contracts this week that expire on Oct. 1, according to the ETF’s latest holdings data. Lending out dollars to hold yen cash for one week is currently on offer at a yield of 3.7% for greenback-based holders, according to Bloomberg data.