Janus Henderson Multi-Sector Income Fund (JMUAX) is a mutual fund managed by Janus Henderson Investors that seeks high current income with a secondary objective of capital appreciation by investing across multiple fixed-income sectors. The fund allocates assets primarily to high-yield corporate bonds, investment-grade corporate bonds, securitized debt including mortgage-backed and asset-backed securities, emerging markets debt, bank loans, and government obligations; it employs a flexible, multi-sector approach with active management to navigate interest rate, credit, and liquidity risks. Geographically, the fund invests globally, with significant exposure to U.S., developed international, and emerging market issuers, targeting institutional and retail investors seeking income-oriented fixed-income exposure. Launched in 2010 and domiciled in the United States with administrative operations in Denver, Colorado, under Janus Henderson Investors' oversight, the fund benefits from the firm's global platform spanning North America, Europe, and Asia. Recent developments include portfolio manager enhancements in 2024 to bolster multi-sector expertise amid rising interest rates and credit spread volatility, alongside strategic shifts toward increased allocation to floating-rate instruments and shorter-duration securities to mitigate duration risk in a higher-for-longer rate environment.