Janus Mid Cap Growth Managed Account

Moderate Mid-Cap Growth Equities

EXECUTIVE SUMMARY

The Portfolio outperformed its benchmark during the period.

Our stock selection and underweight to the consumer discretionary sector was a large contributor to relative performance.

Stock selection in the technology sector detracted from relative performance.

PORTFOLIO MANAGEMENT

Brian Demain, CFA

Brian Demain, CFA

Portfolio Manager since 2007
Industry since 1999

Philip Cody Wheaton

Philip Cody Wheaton, CFA

Portfolio Manager since 2016
Industry since 2001