PORTFOLIO FACTS (JRMSX)

Performance (As of 3/31/15)
1 Year14.34%
3 Year17.38%
5 Year15.94%
10 Year8.40%
Morningstar (As of 5/31/15)
CategoryLarge Growth

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/15.

VIEW RISK STATISTICS DEFINITIONS

Alpha
Compares the risk-adjusted performance of a portfolio to a benchmark index.
Beta
A measure of the volatility of a portfolio in comparison to a benchmark index.
R-Squared
Represents the percentage of the portfolio’s performance that can be explained by the general movements of a benchmark index.
Standard Deviation
Measures historical volatility.
Sharpe Ratio
Measures risk-adjusted performance by dividing the portfolio’s excess returns by the standard deviation of those returns.
Information Ratio
Measure of a portfolio management’s performance against risk and return relative to a benchmark or alternative measure.

Statistics are for the Portfolio’s “parent” share class (typically that with the longest history).

UP AND DOWN MARKET CAPTURE

Statistics are for the Portfolio’s “parent” share class (typically that with the longest history).

ANNUAL FEES & EXPENSES

AS OF FISCAL YEAR END 6/30/2014

This Fund has a performance-based management fee that may adjust up or down based on the Fund's performance.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund investing involves market risk. Investment return and fund share value will fluctuate and it is possible to lose money by investing.

A Fund's performance may be affected by risks that include those associated with nondiversification, non-investment grade debt securities, high-yield/high-risk securities, undervalued or overlooked companies, investments in specific industries or countries and potential conflicts of interest. Additional risks to a Fund may also include, but are not limited to, those associated with investing in foreign securities, emerging markets, initial public offerings, real estate investment trusts (REITs), derivatives, short sales, commodity-linked investments and companies with relatively small market capitalizations. Each Fund has different risks. Please see a Janus prospectus for more information about risks, Fund holdings and other details.

Ratings and/or rankings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Janus. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund(s). The rating/rankings are displayed for informational purposes only and should not be relied upon when making investment decisions.

The Morningstar percentile ranking is based on the fund's total-return percentile rank relative to all funds that have the same category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. Morningstar total-return includes both income and capital gains or losses and is not adjusted for sales charges. The top-performing funds in a category will always receive a rank of 1.

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When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the ranking and/or rating for the period.

INTECH Investment Management LLC is a subsidiary of Janus Capital Group Inc. and serves as the sub-adviser on certain products.

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