Janus Contrarian Fund (JSVAX)

Investing Opportunistically in Non-Consensus Equity Ideas

SHARE CLASS

FUND FACTS (JSVAX)

Inception Date2/29/2000
NAV (As of 7/26/16)$18.03
Total Net Assets (As of 6/30/16)$2.67B
Annual Expense Ratio
(As of fiscal year end 9/30/15)
GROSS 1.04%
NET 1.04%

Performance (As of 6/30/16)
1 Year-14.98%
3 Year3.97%
5 Year6.58%
10 Year4.29%
Morningstar (As of 6/30/16)
CategoryMid-Cap Blend
Equity
Style Box

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 - Q2 2016

EXECUTIVE SUMMARY

The Fund underperformed its benchmark during the period.

Our investments in major airlines suffered from pricing weakness, which overwhelmed numerous positive factors.

Stocks with volatile earnings continue to be punished, providing good buying opportunities for the Fund, especially in companies going through turnarounds.

FUND MANAGEMENT

Dan Kozlowski

Daniel R. Kozlowski, CFA

Fund Manager since 2011
Industry since 1999