Is Janus Henderson Enterprise Institutional (JAAGX) a Strong Mutual Fund Pick Right Now?

Having trouble finding a Mid Cap Growth fund? Janus Henderson Enterprise Institutional (JAAGX) is a potential starting point. JAAGX possesses a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.ObjectiveZacks categorizes JAAGX as Mid Cap Growth, a segment packed with options. Mid Cap Growth mutual funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. A firm is typically considered to be a growth stock if it consistently posts impressive sales and/or earnings growth.History of Fund/ManagerJanus Fund is based in Boston, MA, and is the manager of JAAGX. Since Janus Henderson Enterprise Institutional made its debut in September of 1993, JAAGX has garnered more than $687.92 million in assets. The fund is currently managed by Brian Demain who has been in charge of the fund since November of 2007.PerformanceObviously, what investors are looking for in these funds is strong performance relative to their peers. This fund has delivered a 5-year annualized total return of 11.17%, and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 16.45%, which places it in the middle third during this time-frame.It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, JAAGX's standard deviation comes in at 15.93%, compared to the category average of 18.95%. The fund's standard deviation over the past 5 years is 17.13% compared to the category average of 20.88%. This makes the fund less volatile than its peers over the past half-decade.Risk FactorsThe fund has a 5-year beta of 0.99, so investors should note that it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. JAAGX has generated a negative alpha over the past five years of -4.2, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.ExpensesCosts are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, JAAGX is a no load fund. It has an expense ratio of 0.71% compared to the category average of 1.05%. So, JAAGX is actually cheaper than its peers from a cost perspective.Investors should also note that the minimum initial investment for the product is $0 and that each subsequent investment has no minimum amount.Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.Bottom LineOverall, Janus Henderson Enterprise Institutional ( JAAGX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Janus Henderson Enterprise Institutional ( JAAGX ) looks like a good potential choice for investors right now.This could just be the start of your research on JAAGX in the Mid Cap Growth category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. 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