2016 Lipper Award

Janus Balanced Fund (JABAX)

20+ Years of Dynamic Asset Allocation

SHARE CLASS

FUND FACTS (JABAX)

Inception Date9/1/1992
NAV (As of 5/25/16)$28.59
Total Net Assets (As of 4/30/16)$13.30B
Annual Expense Ratio
(As of fiscal year end 9/30/15)
GROSS 0.83%
NET 0.83%

Yields

Distribution Yield at NAV (As of 3/31/16)

1.66%
30 Day SEC Yield (As of 4/30/16)
with waivers
without waivers

1.47%
1.47%
Distribution FrequencyQuarterly
Performance (As of 3/31/16)
1 Year-1.83%
3 Year6.59%
5 Year7.25%
10 Year6.98%
Morningstar (As of 4/30/16)
CategoryAllocation-50% to 70% Equity
Overall Rating™
(Based on risk-adjusted returns)

View All Ratings

817 Funds Rated
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.

Returns greater than one year are annualized.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/17.

Quarterly Commentary - Q1 2016

EXECUTIVE SUMMARY

The Fund’s equity sleeve underperformed its benchmark, driven largely by our holdings in health care.

The Fund’s fixed income sleeve underperformed its benchmark, primarily due to the defensive nature of our higher-quality holdings within corporate credit.

Our asset allocation mix is overweight equities versus fixed income; we favor stocks whose valuations have not become too stretched and higher-quality fixed income securities.

FUND MANAGEMENT

Marc Pinto

Marc Pinto, CFA

Fund Manager since 2005
Industry since 1985

Jeremiah Buckley

Jeremiah Buckley, CFA

Fund Manager since 2015
Industry since 1998

Darrell Watters

Darrell Watters

Fund Manager since 2015
Industry since 1986

Mayur Saigal

Mayur Saigal

Fund Manager since 2015
Industry since 2002