Janus Aspen Balanced Portfolio (JABLX)

20+ Years of Dynamic Asset Allocation

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PORTFOLIO FACTS (JABLX)

Inception Date9/13/1993
NAV (As of 8/24/16)$30.03
Total Net Assets (As of 7/31/16)$2.43B
Annual Expense Ratio
(As of fiscal year end 12/31/15)
GROSS 0.63%
NET 0.63%

Performance (As of 6/30/16)
1 Year-0.48%
3 Year6.45%
5 Year7.35%
10 Year7.62%
Morningstar (As of 7/31/16)
CategoryAllocation-50% to 70% Equity
Overall Rating™
(Based on risk-adjusted returns)

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823 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 - Q2 2016

EXECUTIVE SUMMARY

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

The Fund’s equity sleeve underperformed its benchmark, driven largely by our holdings in the financials and consumer discretionary sectors. The Fund’s fixed income sleeve outperformed its benchmark, primarily due to our yield curve positioning in Treasurys and U.S. mortgage-backed securities, as well as security selection in investment-grade corporate credit.

Our asset allocation mix is overweight equities versus fixed income; we seek stocks with attractive valuations and growth potential regardless of the macroeconomic environment along with fixed income issuers with strong fundamentals and a commitment to balance sheet discipline.

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