Janus Global Allocation Fund - Growth (JSPGX)

Disciplined Global Allocation Seeking Risk-Adjusted Growth

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FUND FACTS (JSPGX)

Inception Date12/30/2005
NAV (As of 8/28/15 )$13.88
Total Net Assets (As of 7/31/15)$270.15M
Annual Expense Ratio
(As of fiscal year end 6/30/14)
GROSS 1.09%
NET 1.09%

Performance (As of 6/30/15)
1 Year-0.27%
3 Year10.92%
5 Year9.75%
Since Inception6.73%
Morningstar (As of 7/31/15)
CategoryWorld Allocation
Overall Rating™
(Based on risk-adjusted returns)

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462 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.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/15.

Quarterly Commentary - Q2 2015

EXECUTIVE SUMMARY

Equity markets showed little correlation globally, with U.S. and emerging market equities roughly flat, Japan equities up 5.4% and European equities down 5%.

Fixed income markets, however, traded much more in sync, with U.S. 10-year rates rising nearly 40 basis points, German rates rising 60 basis points, peripheral Europe over 100 basis points and Japan 6 basis points.

Our Fund underperformed its benchmark during the period.

By allocating broadly across multiple asset classes and risk factors, we believe we are positioned very well to absorb a pickup in capital market volatility.

FUND MANAGEMENT

Enrique Chang

Enrique Chang

Fund Manager since 2014
Industry since 1988

Ashwin Alankar, Ph.D.

Ashwin Alankar, Ph.D.

Fund Manager since 2014
Industry since 2001