Janus Aspen Balanced Portfolio (JABLX)

20+ Years of Dynamic Asset Allocation

SHARE CLASS

PORTFOLIO FACTS (JABLX)

Inception Date9/13/1993
NAV (As of 12/8/16)$30.73
Total Net Assets (As of 10/31/16)$2.40B
Annual Expense Ratio
(As of fiscal year end 12/31/15)
GROSS 0.63%
NET 0.63%

Performance (As of 9/30/16)
1 Year6.16%
3 Year5.81%
5 Year10.37%
10 Year7.41%
Morningstar (As of 11/30/16)
CategoryAllocation-50% to 70% Equity
Overall Rating™
(Based on risk-adjusted returns)

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710 Funds Rated
Equity
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Fixed Income
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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.

Quarterly Commentary - Q3 2016

EXECUTIVE SUMMARY

The Fund underperformed the Balanced Index during the third quarter of 2016.

The equity sleeve underperformed its benchmark, driven largely by our holdings in the consumer staples and health care sectors. Outperformance in the fixed income sleeve was led by our investment-grade and high-yield corporate credit positioning.

Our asset allocation remains overweight equities versus fixed income; given uncertainties in the outlook for the global economy, we have increased emphasis on companies with less potential for volatility in their earnings results. In fixed income, our corporate credit positioning remains defensive, due to concerns around tight valuations and the subdued outlook for earnings.

PORTFOLIO MANAGEMENT

Marc Pinto

Marc Pinto, CFA

Portfolio Manager since 2005
Industry since 1985

Jeremiah Buckley

Jeremiah Buckley, CFA

Portfolio Manager since 2015
Industry since 1998

Darrell Watters

Darrell Watters

Portfolio Manager since 2015
Industry since 1986

Mayur Saigal

Mayur Saigal

Portfolio Manager since 2015
Industry since 2002