Janus Preservation Series - Growth (JPGTX)
Large-Cap Growth Equities with a Protection Feature

SHARE CLASS

FUND FACTS (JPGTX)

Inception Date5/4/2011
NAV (As of 2/27/15 )$10.89
Protected NAV (As of 2/27/15)$8.77
Total Net Assets (As of 1/31/15)$60.61M
Annual Expense Ratio
(As of fiscal year end 9/30/14)
GROSS 1.81%
NET 1.75%

Performance (As of 12/31/14)
1 Year6.73%
3 Year7.28%
Since Inception1.88%
Morningstar (As of 1/31/15)
CategoryLarge Growth
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 2/1/15, and include a Capital Protection Fee that can fluctuate between 0.60% and 0.75%.

Quarterly Commentary - Q4 2014

EXECUTIVE SUMMARY

A strengthening U.S. economy drove equity indices higher during the quarter.

The Fund outperformed its benchmark during the period.

With market valuations near the higher end of historical averages, we expect earnings growth to be needed to drive further stock price appreciation.

FUND MANAGEMENT

Jonathan Coleman, CFA

Fund Manager since 2011
Industry since 1994