About Kapstream
We are a specialist global fixed income manager, aiming to deliver resilient income and capital stability across market cycles.
Established in 2007, we manage a diversified suite of absolute return, income and private credit strategies designed to meet the evolving needs of investors.
Today, we oversee assets on behalf of institutional and wholesale investors, providing access to global fixed income markets through a range of investment portfolios.
“Kapstream” reflects our aim to deliver on capital protection and consistent income. The name is derived from “Kapital”, Asset Protection and “Stream”, representing the steady flow of income we aim to deliver. Together, it captures our objective of providing income and capital stability across market cycles.
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FUM Breakdown
* as at 30 June 2026. KIT invests into KARIF, KARIPF and KPIF so the individual figures will not sum to the total.
^ comprising 5 portfolios managed in USD, EUR & GBP and converted to AUD at the prevailing rate
Why Invest with Kapstream?
As an active investment manager, Kapstream was founded on the belief that by removing the constraints inherent in conventional benchmark-relative fixed income portfolio strategies, and by setting absolute return targets and absolute risk limits, portfolios could be constructed using predominantly investment grade assets that more closely meet the true requirements of investors in preserving capital and delivering consistent and positive absolute returns.
Capital preservation focus
Protecting capital is considered in decisions, with fund risks actively managed
Consistent income
Targeting a portfolio of high-quality fixed investments producing a steady quarterly income stream through the cycle
Dynamic & unconstrained approach
Aiming to invest wherever the best risk-adjusted opportunities can be found, irrespective of traditional benchmark indices
Global diversification
A broad opportunity set spanning geographies, sectors and the capital structure may complement other asset classes
Investment Process
Our investment process is built on a structural foundation, that is then actively managed through top-down macro positioning, bottom-up security selection, and standalone alpha generation.
Responsible Investment
At Kapstream Capital, our approach to Responsible Investment (RI) reflects our belief that Environmental, Social and Governance (ESG) factors play an important role in our investment strategies.
Awards
Our Team
Kapstream is a wholly owned subsidiary of Janus Henderson. We are a dedicated fixed income team with deep experience across global credit and bond markets. Our focus is on building diversified portfolios that support investors seeking consistent income and capital stability over time.
Our team operates with a global perspective, investing across regions and sectors to access a broad opportunity set within fixed income.
Our Partners
Since July 2015 Kapstream has operated as an autonomous ’boutique’ subsidiary of Janus Henderson Investors. Janus Henderson Investors is a global asset management firm serving clients worldwide. Their mission is to help clients define and achieve superior financial outcomes through differentiated insights, disciplined investments, and world class service.
Fidante is one of Australia’s largest active investors, offering compelling strategies across equities, fixed income, and alternative assets, via partnerships with leading investment teams. Fidante performs administration and distribution functions for Kapstream, which allows Kapstream employees to focus solely on generating investment success for our clients.
Mantis Funds acts as a partner to fund managers, helping bring their strategies to Australian investors. Through its platform, Mantis provides fully outsourced back and middle office support, licensing and compliance infrastructure, and investor distribution capabilities allowing managers to focus on investment performance while Mantis handles operations and market access.
