Janus Global Real Estate Fund (JERTX)

Investing Globally in Real Estate for Growth and Income

SHARE CLASS

FUND FACTS (JERTX)

Inception Date11/28/2007
NAV (As of 8/23/16)$11.19
Total Net Assets (As of 7/31/16)$261.05M
Annual Expense Ratio
(As of fiscal year end 9/30/15)
GROSS 1.18%
NET 1.18%

Yields

Distribution Yield at NAV (As of 6/30/16)

3.20%
30 Day SEC Yield (As of 7/31/16)
with waivers
without waivers

1.93%
1.93%
Distribution FrequencyQuarterly
Performance (As of 6/30/16)
1 Year2.02%
3 Year7.09%
5 Year6.90%
Since Inception3.90%
Morningstar (As of 7/31/16)
CategoryGlobal Real Estate
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

Global real estate stocks gained during the quarter, slightly outpacing returns in the broader market.

The Fund underperformed its benchmark, with holdings in real estate services and homebuilding weighing on relative results.

We believe the market is overpaying for “defensive” names, ignoring the income and valuation visibility of companies that do not neatly fit into the “defensive” category.

FUND MANAGEMENT

Patrick Brophy

Brophy, Patrick

Fund Manager since 2007
Industry since 1990