Janus Diversified Alternatives Fund (JDATX)

Diversified Liquid Alternative Fund Seeking Absolute Returns

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FUND FACTS (JDATX)

Inception Date12/28/2012
NAV (As of 4/29/16)$9.82
Total Net Assets (As of 3/31/16)$63.29M
Annual Expense Ratio
(As of fiscal year end 6/30/15)
GROSS 1.60%
NET 1.51%

Performance (As of 3/31/16)
1 Year-1.95%
3 Year0.27%
Since Inception0.22%
Morningstar (As of 3/31/16)
CategoryMultialternative

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 11/1/16.

Quarterly Commentary - Q1 2016

EXECUTIVE SUMMARY

The Fund outperformed both its primary and secondary benchmarks.

The Fund’s fixed income strategies were the leading contributors to returns. The currency strategies detracted.

The portfolio’s construction seems relatively more stable the past few months, with most position re-sizing being a function of volatility management at the strategy level, as opposed to risk weight shifting between strategies.

FUND MANAGEMENT

Andrew Weisman

Andrew B. Weisman

Fund Manager since 2012
Industry since 1988

John Fujiwara

John Fujiwara

Fund Manager since 2012
Industry since 1987