Perkins Large Cap Value Fund (JPLTX)

Defensive Large-Cap Value Equities

SHARE CLASS

FUND FACTS (JPLTX)

Inception Date12/31/2008
NAV (As of 2/24/17)$16.18
Total Net Assets (As of 1/31/17)$166.99M
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 0.89%
NET 0.86%

Morningstar Fee Level
(As of 1/31/17)
Fee Level Group
(out of 931 funds)
Large Cap No Load

Performance (As of 12/31/16)
1 Year12.11%
3 Year6.27%
5 Year11.48%
Since Inception11.48%
Morningstar (As of 1/31/17)
CategoryUS Fund Large Value
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 11/1/17.

Quarterly Commentary - Q4 2016

EXECUTIVE SUMMARY

The Fund lagged its benchmark, primarily due to stock selection in financials and telecommunications.

In the quarter, we added to technology and trimmed exposure to financials and health care.

We believe stocks are not cheap, which increases their vulnerability to price shocks.

FUND MANAGEMENT

Tom Perkins

Tom Perkins

Fund Manager since 2008
Industry since 1970

Kevin Preloger

Kevin Preloger

Fund Manager since 2008
Industry since 1997