Janus Aspen Perkins Mid Cap Value Portfolio

Defensive Mid-Cap Value Equities

SHARE CLASS

PORTFOLIO FACTS

Inception Date12/31/2002
NAV (As of 5/26/17)$16.72
Total Net Assets (As of 4/30/17)$120.86M
Annual Expense Ratio
(As of fiscal year end 12/31/16)
GROSS 0.86%
NET 0.86%

Morningstar Fee Level
(As of 4/30/17)
Fee Level Group
(out of 360 funds)
Mid Cap No Load

Performance (As of 3/31/17)
1 Year19.20%
3 Year7.96%
5 Year10.25%
10 Year7.08%
Morningstar (As of 4/30/17)
CategoryUS Fund Mid-Cap Value
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.

Returns greater than one year are annualized.

Net expense ratios reflect the expense waiver, if any, contractually agreed to through 5/1/18.

EXECUTIVE SUMMARY

The Fund outperformed, led by stock selection in industrials, real estate and technology.

We added to select energy holdings and reduced exposure to consumer discretionary.

In our view stocks are not cheap, which increases their vulnerability to price shocks.

PORTFOLIO MANAGEMENT

Tom Perkins

Tom Perkins

Portfolio Manager since 2002
Industry since 1970

Kevin Preloger

Kevin Preloger

Portfolio Manager since 2013
Industry since 1997

Justin Tugman, CFA

Justin Tugman, CFA

Portfolio Manager since 2015
Industry since 2000