Janus Aspen Balanced Portfolio (JABLX)
20+ Years of Dynamic Asset Allocation

SHARE CLASS

PORTFOLIO FACTS (JABLX)

Inception Date9/13/1993
NAV (As of 3/4/15 )$32.18
Total Net Assets (As of 1/31/15)$1.73B
Annual Expense Ratio
(As of fiscal year end 12/31/13)
GROSS 0.58%
NET 0.58%

Performance (As of 12/31/14)
1 Year8.51%
3 Year13.99%
5 Year10.29%
10 Year8.61%
Morningstar (As of 1/31/15)
CategoryModerate Allocation
Analyst RatingSilver
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.

Quarterly Commentary - Q4 2014

EXECUTIVE SUMMARY

The U.S. equity sleeve outperformed due to our stock selection in health care and information technology as well as our underweight in the energy sector.

The fixed income sleeve’s underperformance was driven partly by our overweight in corporate credit, specifically an overweight in the energy sector.

The environment for equities should continue to be favorable provided U.S. economic growth remains steady. However, we have assumed a more defensive positioning in fixed income.

Going forward, we are overweight equities versus fixed income as we believe that asset class offers better risk-adjusted opportunities at this juncture.

PORTFOLIO MANAGEMENT

Gibson Smith

Portfolio Manager since 2005
Industry since 1991

Marc Pinto

Marc Pinto, CFA

Portfolio Manager since 2005
Industry since 1983