Janus Diversified Alternatives Fund (JDAIX)

Diversified Liquid Alternative Fund Seeking Absolute Returns

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FUND FACTS (JDAIX)

Inception Date12/28/2012
NAV (As of 5/26/17)$10.12
Total Net Assets (As of 4/30/17)$72.18M
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 1.40%
NET 1.26%

Morningstar Fee Level
(As of 4/30/17)
Fee Level Group
(out of 433 funds)
Alternative Institutional

Performance (As of 3/31/17)
1 Year4.59%
3 Year2.88%
Since Inception1.35%
Morningstar (As of 4/30/17)
CategoryUS Fund Multialternative
Overall Rating™
(Based on risk-adjusted returns)

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245 Funds Rated

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 11/1/17.

Quarterly Commentary - Q1 2017

EXECUTIVE SUMMARY

The Fund underperformed its benchmarks during the quarter.

The unwinding of the "Trump Trade" impacted a number of the Fund's strategies, including three of the momentum strategies. The commodity curve strategy was the leading contributor.

The Fund's models have reduced the weighting to a number of the equity strategies.

FUND MANAGEMENT

John Fujiwara

John Fujiwara

Fund Manager since 2012
Industry since 1987

Ashwin Alankar, Ph.D.

Ashwin Alankar, Ph.D.

Fund Manager since 2014
Industry since 2001