Janus Henderson European Focus Fund (HFESX) is an open-end mutual fund that seeks long-term capital appreciation primarily through investment in equities of European companies; it normally invests at least 80% of its net assets in a concentrated portfolio of growth and value stocks across diversified market capitalizations, employing fundamental analysis with a high-conviction, style-agnostic approach focused on bottom-up stock selection; the fund benchmarks its performance against the MSCI Europe Index and maintains significant exposure to sectors including financial services, industrials, consumer cyclical, technology, and healthcare, with primary regional allocations to the Eurozone, Europe ex-Eurozone, and the United Kingdom. Launched on June 5, 2017, the fund is domiciled in the United States, with total net assets of approximately $647 million USD as of the latest reporting, a net expense ratio of 1.46%, and a minimum initial investment of $2,500 USD; it is available for sale in the United States and managed by Robert Schramm-Fuchs (since March 19, 2019) and Marc Schartz (since June 18, 2024), as part of Janus Henderson Investors' offerings headquartered in London, United Kingdom. In recent developments within the last 1-2 years, Janus Henderson acquired Tabula, a European ETF provider, in 2024 to expand into the European ETF market and enhance its active ETF proposition globally; the related Henderson European Focus Trust underwent a proposed merger with Henderson EuroTrust in 2024, rebranding as Henderson European Trust with co-management by Tom O'Hara and Jamie Ross, though both managers resigned in February 2025 to join GAM Investments; additionally, the fund reported strong Q3 2025 performance of 4.27%, outperforming its benchmark by 0.65%, driven by holdings such as Antofagasta, Erste Group, and Banco Santander.