Janus Balanced Fund (JABAX)
20+ Years of Dynamic Asset Allocation

SHARE CLASS

FUND FACTS (JABAX)

Inception Date9/1/1992
NAV (As of 2/27/15 )$31.28
Total Net Assets (As of 1/31/15)$12.55B
Annual Expense Ratio
(As of fiscal year end 9/30/14)
GROSS 0.83%
NET 0.83%

Yields

Distribution Yield at NAV (As of 12/31/14)

1.82%
30 Day SEC Yield (As of 1/31/15)
with waivers
without waivers

1.64%
1.64%
Distribution FrequencyQuarterly
Performance (As of 12/31/14)
1 Year8.38%
3 Year13.55%
5 Year9.83%
10 Year8.25%
Morningstar (As of 1/31/15)
CategoryModerate Allocation
Overall Rating™
(Based on risk-adjusted returns)

View All Ratings

744 Funds Rated
Analyst RatingSilver
Equity
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Fixed Income
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Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold. For the most recent month-end performance click here.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/16.

Straight Talk

Chapter 1 (1 of 3)

Challenges

Today’s market conditions don’t provide an obvious choice between equity and fixed income for investors’ portfolios.

Chapter 2 (2 of 3)

Approach

Having the ability to dynamically allocate between equities and fixed income ahead of market volatility can help mitigate downside risk for our investors.

Chapter 3 (3 of 3)

Why Balanced?

The Janus Balanced Fund is an actively-managed core holding investing in the best ideas from our equity and fixed income research teams.

EXECUTIVE SUMMARY

The U.S. equity sleeve outperformed due to our stock selection in health care and information technology as well as our underweight in the energy sector.

The fixed income sleeve’s underperformance was driven partly by our overweight in corporate credit, specifically an overweight in the energy sector.

The environment for equities should continue to be favorable provided U.S. economic growth remains steady. However, we have assumed a more defensive positioning in fixed income.

Going forward, we are overweight equities versus fixed income as we believe that asset class offers better risk-adjusted opportunities at this juncture.

FUND MANAGEMENT

Gibson Smith

Fund Manager since 2005
Industry since 1991

Marc Pinto

Marc Pinto, CFA

Fund Manager since 2005
Industry since 1983