Janus Henderson to Partner with Anemoy and Centrifuge on Its First Tokenized Fund

Rhea-AI Summary

Janus Henderson Group plc (NYSE: JHG) has announced a strategic partnership with Anemoy and Centrifuge to manage Anemoy's Liquid Treasury Fund (LTF), a tokenized fund on Centrifuge's blockchain. Janus Henderson will serve as a sub-advisor, managing the fund's operations through its subsidiary, Tabula. This collaboration aims to bridge traditional and decentralized finance by bringing institutional collateral pools into on-chain markets.

The LTF will provide investors with direct access to short-term US Treasury bills and will be tokenized using Centrifuge's technology, enabling distribution to over $170 billion in idle capital on-chain. This partnership aligns with Janus Henderson's innovation strategy, focusing on blockchain readiness and tokenization. The initiative represents a significant step in integrating traditional financial products with blockchain technology, potentially transforming the financial industry.

Positive

• Strategic partnership to manage a tokenized fund, bridging traditional and decentralized finance
• Access to over $170 billion in idle capital on-chain through tokenization
• Expansion into digital assets and blockchain technology, positioning for future opportunities
• Collaboration with established blockchain companies enhances credibility in the digital space
• Potential to transform traditional finance through blockchain integration

Negative

• Potential operational and compliance risks associated with tokenized funds
• Uncertainty in regulatory landscape for blockchain-based financial products
• Possible challenges in institutional adoption of tokenized funds

Insights

Financial Technology Expert

This partnership marks a significant milestone in the convergence of traditional finance and blockchain technology. By tokenizing a US Treasury bill fund, Janus Henderson is bridging the gap between centralized and decentralized finance, potentially unlocking $170 billion in idle on-chain capital. This move could revolutionize the asset management industry by providing institutional-grade products to the DeFi ecosystem.

The collaboration leverages Janus Henderson's financial expertise, Anemoy's strategic position and Centrifuge's blockchain technology. This synergy could accelerate the adoption of tokenized funds among institutional investors, who have been hesitant due to regulatory and operational concerns. The use of permissioned access controls and whitelisted wallets addresses these issues, potentially paving the way for broader institutional participation in DeFi.

However, investors should be aware that this is a nascent field with potential regulatory challenges. The success of this venture will depend on market acceptance and the ability to navigate evolving regulatory landscapes.

Asset Management Analyst

Janus Henderson's strategic move into tokenized funds is a forward-thinking approach to asset management. By partnering with Anemoy and Centrifuge, they're positioning themselves at the forefront of financial innovation. This could potentially open new revenue streams and attract tech-savvy investors, enhancing their competitive edge in the $361 billion AUM market.

The focus on US Treasury bills as the underlying asset is a smart choice, offering stability and liquidity in the volatile crypto market. This could appeal to risk-averse institutional investors looking to dip their toes into DeFi. However, the success of this venture will largely depend on regulatory clarity and market adoption.

Investors should note that while this move shows innovation, it's still a small part of Janus Henderson's overall business. The long-term impact on the company's financials remains to be seen and will depend on the scalability and adoption of tokenized funds in the broader market.

Blockchain Strategist

This partnership represents a significant leap forward for institutional DeFi adoption. By bringing a major traditional asset manager like Janus Henderson into the blockchain space, it lends credibility and potentially opens the floodgates for more institutional players. The use of Centrifuge's public blockchain with permissioned access is a clever compromise, addressing regulatory concerns while maintaining the benefits of blockchain technology.

The potential to tap into $170 billion of idle on-chain capital is substantial. If successful, this could dramatically increase liquidity in DeFi markets and potentially stabilize volatile crypto assets. However, the challenge lies in seamlessly integrating traditional finance operations with blockchain infrastructure. The success of this venture could serve as a blueprint for future tokenization efforts across various asset classes.

While promising, investors should be cautious. The regulatory landscape for tokenized traditional assets is still evolving and any regulatory setbacks could impact the project's viability and Janus Henderson's blockchain strategy.

LONDON--(BUSINESS WIRE)-- Janus Henderson Group plc (NYSE: JHG) is pleased to announce that Janus Henderson Investors will be entering into an exciting new strategic partnership with Anemoy Limited and Centrifuge to manage Anemoy’s Liquid Treasury Fund (“LTF”), a fully on-chain, tokenized fund issued on Centrifuge’s public blockchain that provides investors with direct access to short-term US Treasury bills.

Janus Henderson will be serving as a sub-advisor to the LTF, managing the fund’s day-to-day operations and portfolio through Tabula, a wholly owned subsidiary. This synergy between Tabula’s specific investment tools, which will be crucial to ensuring the fund meets the high standards expected by institutional investors, and Janus Henderson’s 90-year track record of financial expertise, will bring traditional investment products to on-chain capital markets, realising untapped potential in the immediate term.

“This collaboration represents a significant step forward in bridging traditional and decentralised finance, by bringing robust institutional collateral pools into decentralised autonomous organisation and stablecoin ecosystems”, said Nick Cherney, Head of Innovation at Janus Henderson. “Our innovation strategy is focused on preparing for the possibility that blockchain technology will transform traditional finance in the long term, and this partnership represents a unique opportunity to help shape this future, while also providing stable and compliant solutions for on-chain markets”.

Blockchain readiness and tokenization are key pillars underpinning Janus Henderson’s innovation strategy, and the decision to partner with Anemoy and Centrifuge in this way reflects the firm’s commitment to digital assets and its desire to embrace disruptive financial technologies. By collaborating with companies who are critical to the transition of asset and wealth management onto distributed ledger technology, Janus Henderson is adopting a leadership role in the new age of digital disruption in financial markets, positioning itself as a serious partner for future blockchain opportunities. As the LTF will be tokenized using Centrifuge’s blockchain technology, this will enable it to be distributed to over $170 billion in idle capital on-chain¹. Anemoy, which owns the fund, plays a vital role at the intersection of traditional and decentralised finance, acting as a strategic conduit for Janus Henderson’s successful entry into this digital space.

Janus Henderson recently announced that it had entered into an agreement to acquire a majority stake in Victory Park Capital Advisors, LLC (“VPC”), a global private credit manager providing customized solutions to both established and emerging businesses, including decentralised finance. The VPC acquisition further expands Janus Henderson’s private credit and institutional capabilities, and along with the acquisition of Tabula, demonstrates the firm’s commitment to client-led innovation.

“We are thrilled to be collaborating with Janus Henderson and Centrifuge on this fund”, said Anil Sood, co-founder of Anemoy. “Janus Henderson is entrusted with over $360 billion in assets, has a 90-year legacy of investment excellence, and a client-driven solutions focus; we could not think of a better partner with which to progress tokenized innovation”.

Martin Quensel, co-founder of both Anemoy and Centrifuge, added “this partnership underscores our commitment to pioneering the integration of traditional financial products with cutting edge blockchain technology, creating new opportunities for investors, and advancing the decentralised finance ecosystem”.

"The intersection of DeFi, TradFi, and systematic investing is an area that should create huge opportunities for investors in the coming years. It is a natural overlap between the rapid expansion of ETF solutions and the need to underpin digital investments with stable, liquid stores of value, like US Treasury bills”, comments Michael John Lytle, Tabula's CEO.

Utilising a public blockchain with permissioned access controls, and limiting subscriptions to investors with whitelisted wallets, is intended to mitigate the operational and compliance risks that have previously hindered widespread institutional adoption of tokenized funds.

“We are delighted to be working with Janus Henderson and Anemoy to not only address key challenges in fund management, but also to open the door to scalable solutions that have the potential to transform the financial industry”, said Bhaji Illuminati, CMO at Centrifuge. “The Anemoy Liquid Treasury Fund is a good example of how traditional finance can leverage distributed ledger technology to unlock new opportunities in the blockchain space”.

As the blockchain landscape continues to evolve, Janus Henderson, Anemoy and Centrifuge are ideally positioned to lead the way in fixed income tokenization, providing new avenues and innovative options for institutional products, and enhancing the utility of on-chain capital markets.

¹ Source: rwa.xyz as of September 4, 2024

Notes to editors

Janus Henderson Group

Janus Henderson Group is a leading global active asset manager dedicated to helping clients define and achieve superior financial outcomes through differentiated insights, disciplined investments, and world-class service.

As of June 30, 2024, Janus Henderson had approximately US$361 billion in assets under management, more than 2,000 employees, and offices in 24 cities worldwide. The firm helps millions of people globally invest in a brighter future together. Headquartered in London, Janus Henderson is listed on the New York Stock Exchange (NYSE).

Centrifuge

Centrifuge is a tokenization platform for asset managers to digitize, manage, and distribute funds on-chain, while providing investors access to a diversified portfolio of high-quality tokenized assets. Founded in 2017 and backed by leading VCs, Centrifuge has been a driving force in the institutional adoption of tokenized assets. As firm believers in the collaborative growth of the ecosystem, Centrifuge has championed industry initiatives like the Tokenized Asset Coalition, the Real-World Asset Summit, and the creation of widely recognized token standards.

Anemoy

Anemoy serves as the asset management arm of Centrifuge, founded in 2023 by co-founders Martin Quensel and Anil Sood. Anemoy was established with a clear mission: to advance Centrifuge's efforts in developing RWA products tailored specifically for bridging the TradFi and DeFi worlds. Anemoy is built on the Centrifuge protocol and supports the full lifecycle of on-chain asset management. Anemoy offers comprehensive services to institutions, focusing on key areas such as compliance, and asset management, ensuring seamless integration and management of real-world assets in the DeFi landscape. Anemoy supports five key areas and covers the entire value change of asset and fund management; Origination, Tokenization, Securitization, Management & Distribution.

This press release is not an offer of securities in the United States. Securities in the fund will not be offered or sold in the United States. This release is intended to provide general information about Janus Henderson’s collaboration with Anemoy and Centrifuge. This is solely for informational purposes and should not be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any security, including any security referred to herein to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. Not all products or services are available in all jurisdictions. The information is not investment advice, nor is it tailored to the needs or circumstances of any investor.

Janus Henderson is a trademark of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.

Source: Janus Henderson Investors

This press release is solely for the use of members of the media and should not be relied upon by personal investors, financial advisers or institutional investors. We may record telephone calls for our mutual protection, to improve customer service and for regulatory record keeping purposes. All opinions and estimates in this information are subject to change without notice.

Issued by Janus Henderson Investors. Janus Henderson Investors is the name under which investment products and services are provided by Janus Henderson Investors International Limited (reg no. 3594615), Janus Henderson Investors UK Limited (reg. no. 906355), Janus Henderson Fund Management UK Limited (reg. no. 2678531), (each registered in England and Wales at 201 Bishopsgate, London EC2M 3AE and regulated by the Financial Conduct Authority), Tabula Investment Management Limited (reg. no. 11286661 at 6th Floor, 55 Strand London WC2N 5LRW and regulated by the Financial Conduct Authority) and Janus Henderson Investors Europe S.A. (reg no. B22848 at 78, Avenue de la Liberté, L-1930 Luxembourg, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier). Henderson Secretarial Services Limited (incorporated and registered in England and Wales, registered no. 1471624, registered office 201 Bishopsgate, London EC2M 3AE) is the name under which company secretarial services are provided. All these companies are wholly owned subsidiaries of Janus Henderson Group plc. (incorporated and registered in Jersey, registered no. 101484, with registered office at 13 Castle Street, St Helier, Jersey, JE1 1ES). Janus Henderson Investors (Australia) Limited ABN 47 124 279 518 is not under any obligation to update this information to the extent that it is or becomes out of date or incorrect. U.S. by SEC registered investment advisers that are subsidiaries of Janus Henderson Group plc; Canada through Janus Henderson Investors US LLC only to institutional investors in certain jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240913847661/en/

Press Enquiries



Janus Henderson Investors



Nicole Mullin, Director of Corporate Communications, EMEA, LatAm & APAC

nicole.mulin@janushenderson.com

Source: Janus Henderson Group plc

FAQ

What is the purpose of Janus Henderson's partnership with Anemoy and Centrifuge?

The partnership aims to manage Anemoy's Liquid Treasury Fund, a tokenized fund providing investors with direct access to short-term US Treasury bills, bridging traditional and decentralized finance.

How will the Liquid Treasury Fund (LTF) be tokenized for JHG?

The LTF will be tokenized using Centrifuge's blockchain technology, enabling distribution to over $170 billion in idle capital on-chain.

What role will Janus Henderson (JHG) play in managing the Liquid Treasury Fund?

Janus Henderson will serve as a sub-advisor to the LTF, managing the fund's day-to-day operations and portfolio through its subsidiary, Tabula.

How does this partnership align with Janus Henderson's (JHG) innovation strategy?

The partnership aligns with Janus Henderson's focus on blockchain readiness and tokenization, positioning the company as a leader in digital disruption in financial markets.

What potential impact could this tokenized fund have on Janus Henderson's (JHG) market position?

This initiative could position Janus Henderson as a serious partner for future blockchain opportunities and potentially transform traditional finance through blockchain integration.