Janus Henderson Investors, an investment management company, released its “Forty Fund” third-quarter 2025 investor letter. US equities surged in the third quarter on positive corporate earnings news and hopes for Federal Reserve (Fed) rate cuts. The fund returned 8.38% in the third quarter, compared to the Russell 1000 Growth Index’s 10.51% return. Stock selection in the healthcare sector contributed to the relative performance of the fund in the quarter, while stock selection in the...





