Janus Aspen Forty Portfolio (JACAX)

High-Conviction Large-Cap Growth Equities

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PORTFOLIO FACTS (JACAX)

Inception Date5/1/1997
NAV (As of 5/24/16)$36.41
Total Net Assets (As of 4/30/16)$750.82M
Annual Expense Ratio
(As of fiscal year end 12/31/15)
GROSS 0.74%
NET 0.74%

Performance (As of 3/31/16)
1 Year0.74%
3 Year13.82%
5 Year12.14%
10 Year8.56%
Morningstar (As of 4/30/16)
CategoryLarge Growth
Overall Rating™
(Based on risk-adjusted returns)

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1476 Funds Rated
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 - Q1 2016

EXECUTIVE SUMMARY

The building pressure in U.S. and global equities in late 2015 led to a broad-based sell-off in January and February before a March rally.

The Portfolio underperformed its benchmarks.

We foresee continued volatility, which underscores the importance of finding select companies with truly sustainable competitive advantages.

PORTFOLIO MANAGEMENT

Doug Rao

Doug Rao

Portfolio Manager since 2013
Industry since 1998

Nick Schommer

Nick Schommer, CFA

Portfolio Manager since 2016
Industry since 2007