Janus Henderson Anemoy AAA CLO Fund

The Janus Henderson Anemoy AAA CLO Fund, traded as JAAA, is a tokenized fund giving on-chain exposure to AAA-rated collateralized loan obligations. It is managed by Anemoy, a web3-native asset manager built on Centrifuge infrastructure, in partnership with Janus Henderson, an established asset manager with a long track record in this asset class.

Collateralized loan obligations are securities backed by pools of corporate loans, divided into tranches by seniority. The AAA tranche sits at the top of that structure, meaning it is the last to absorb losses and the first to be repaid. This makes AAA CLOs one of the more conservative parts of the credit market, though they remain credit instruments rather than government debt.

Tokenized structure

JAAA is a fund share represented as a token, not a stablecoin. Its value accrues as the underlying portfolio generates income, so the price rises gradually rather than holding a fixed dollar figure. Supply is uncapped and equals shares outstanding, currently around 667 million tokens, changing with subscriptions and redemptions.

The token is available across multiple networks including BNB Chain, Solana, Avalanche, Base, and Monad, which lets holders integrate it into different on-chain environments or use it as collateral where supported.

Where it fits

JAAA is part of the tokenized credit segment, a step beyond tokenized Treasuries in both yield and risk. It sits within Anemoy's broader lineup, which also includes a tokenized Treasury fund, a diversified credit fund with Apollo, and an S&P 500 fund. Access is governed by fund eligibility and onboarding requirements rather than being open to any wallet, and prospective holders should read the fund's documentation on redemption terms, liquidity, and investor qualification.