Perkins Large Cap Value Fund (JPLTX)

Defensive Large-Cap Value Equities

SHARE CLASS

FUND FACTS (JPLTX)

Inception Date12/31/2008
NAV (As of 7/2/15 )$16.17
Total Net Assets (As of 5/31/15)$175.06M
Annual Expense Ratio
(As of fiscal year end 6/30/14)
GROSS 0.89%
NET 0.85%

Performance (As of 6/30/15)
1 Year2.20%
3 Year13.71%
5 Year13.38%
Since Inception12.67%
Morningstar (As of 5/31/15)
CategoryLarge 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.

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

Quarterly Commentary - Q1 2015

EXECUTIVE SUMMARY

The Fund underperformed the Russell 1000 Value Index for the quarter.

Stock selection in information technology and consumer staples was additive to relative returns.

Our overweight in health care, the best-performing sector in the index,was a positive contributor in the quarter, although our more defensive-oriented stocks lagged those in the benchmark.

Stock selection in financials and consumer discretionary hurt performance,while our typical underweight in the utilities sector was additive on a relative basis.

FUND MANAGEMENT

Tom Perkins

Fund Manager since 2008
Industry since 1970

Kevin Preloger

Fund Manager since 2008
Industry since 1997