Janus Aspen Global Research Portfolio (JAWGX)
Global Large-Cap Growth Utilizing Our Analysts' Best Ideas

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PORTFOLIO FACTS (JAWGX)

Inception Date9/13/1993
NAV (As of 3/2/15 )$44.06
Total Net Assets (As of 1/31/15)$774.46M
Annual Expense Ratio
(As of fiscal year end 12/31/13)
GROSS 0.53%
NET 0.53%

Performance (As of 12/31/14)
1 Year7.44%
3 Year18.33%
5 Year10.61%
10 Year5.64%
Morningstar (As of 1/31/15)
CategoryWorld Stock
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.

Quarterly Commentary - Q4 2014

EXECUTIVE SUMMARY

The volatility that arose early in the quarter on global growth concerns diminished following a commitment to aggressive central bank initiatives in Asia and Europe.

The Fund outperformed its benchmark, driven by our selection of health care and financial stocks.

Given the weak crude prices that prevailed throughout the quarter, the energy and utilities sectors detracted most from relative performance.

Despite a series of record highs on major exchanges, we believe valuations remain attractive, especially in a low-inflation and low-interest rate environment.

PORTFOLIO MANAGEMENT