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 3/27/15 )$11.62
Total Net Assets (As of 2/28/15)$292.62M
Annual Expense Ratio
(As of fiscal year end 9/30/14)
GROSS 1.18%
NET 1.18%

Yields

Distribution Yield at NAV (As of 12/31/14)

1.81%
30 Day SEC Yield (As of 2/28/15)
with waivers
without waivers

1.45%
1.45%
Distribution FrequencyQuarterly
Performance (As of 12/31/14)
1 Year14.09%
3 Year17.06%
5 Year10.90%
Since Inception4.38%
Morningstar (As of 2/28/15)
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.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/16.

Quarterly Commentary - Q4 2014

EXECUTIVE SUMMARY

REITs generally had a strong quarter. The climb was driven more by the outlook for interest rates than underlying fundamentals.

The Fund underperformed its benchmark during the quarter.

The likelihood that rates will remain low is good for real estate assets in general, but the market’s focus on interest rates is not ideal for stock picking.

FUND MANAGEMENT

Patrick Brophy

Fund Manager since 2007
Industry since 1990