Janus Aspen Global Technology Portfolio (JGLTX)
Investing in Companies that Benefit from Technology Innovation

SHARE CLASS

PORTFOLIO FACTS (JGLTX)

Inception Date1/18/2000
NAV (As of 2/26/15 )$8.92
Total Net Assets (As of 1/31/15)$157.76M
Annual Expense Ratio
(As of fiscal year end 12/31/13)
GROSS 0.77%
NET 0.77%

Performance (As of 12/31/14)
1 Year9.64%
3 Year21.20%
5 Year15.21%
10 Year10.22%
Morningstar (As of 1/31/15)
CategoryTechnology
Equity
Style Box

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.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 5/1/15.

Quarterly Commentary - Q4 2014

EXECUTIVE SUMMARY

Global technology shares finished the quarter higher, driven in part by appetite for stocks in technology hardware and semiconductor companies.

The Fund outperformed its benchmark, with the applications software and IT consulting subsectors providing the most relative performance.

Our lack of exposure to data processing and outsourced services along with Internet retail detracted most from relative performance.

We believe the transition to cloud-based services should continue to accelerate in 2015, while management teams are also expected to continue the recent trends of returning capital to shareholders and pursuing attractive acquisition opportunities.

PORTFOLIO MANAGEMENT

Brad Slingerlend, CFA

Portfolio Manager since 2011
Industry since 1998

Brinton Johns

Portfolio Manager since 2014
Industry since 2000