Janus Aspen Enterprise Portfolio (JAAGX)

Moderate Mid-Cap Growth Equities

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PORTFOLIO FACTS (JAAGX)

Inception Date9/13/1993
NAV (As of 8/29/16)$58.85
Total Net Assets (As of 7/31/16)$854.23M
Annual Expense Ratio
(As of fiscal year end 12/31/15)
GROSS 0.73%
NET 0.73%

Performance (As of 6/30/16)
1 Year3.51%
3 Year13.27%
5 Year12.15%
10 Year10.12%
Morningstar (As of 7/31/16)
CategoryMid-Cap Growth
Overall Rating™
(Based on risk-adjusted returns)

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654 Funds Rated
Analyst Rating
Equity
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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

Following the Brexit vote, markets experienced a flight to safety, which benefited several of the Fund’s holdings.

The Fund outperformed its benchmark, helped by our underweight position in the consumer discretionary sector, which was dragged down by sluggish performance among several of the major U.S. retail stocks.

While our underweight position in consumer staples detracted somewhat from returns, many of our holdings exhibit similar defensive characteristics, but with better revenue growth.

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