Janus Multi-Sector Income Fund (JMUDX)
Seeking High and Consistent Income


Who Should Consider This Fund?

Investors looking for a bond fund that is focused on high current income and capital appreciation.

Asset ClassFixed Income
Share Class D
target risk conservative

Funds are placed on the risk tolerance spectrum to demonstrate the wide spectrum of risk levels among asset classes in which they are expected to typically invest. The spectrum is for informational purposes only, is not intended to be forward looking and is subject to change. 


Distribution Yield at NAV (As of 3/31/17)

30 Day SEC Yield (As of )
with waivers
without waivers

Distribution FrequencyMonthly
Fund Facts
Inception Date2/28/2014
NAV (As of 4/28/17)$9.84
Daily NAV Change$0.01
Daily NAV % Change0.11%
Total Net Assets (As of 3/31/17)$94.94M
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 1.41%
NET 0.79%
Morningstar Fee Level
(As of 3/31/17)
Fee Level Group
(out of 57 funds)
Multisector Bond No Load

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/17.

Morningstar (As of 3/31/17)
CategoryUS Fund Multisector Bond
Overall Rating™
(Based on risk-adjusted returns)
227 Funds Rated
View all Ratings
Style Box
Fixed Income
Style Box
Performance (As of 3/31/17)
YTD (As of 4/28/17) 2.78%
1 Year 8.22%
3 Year 4.51%
Since Inception 4.41%

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.

Client Commitment

This dynamic, multi-sector income fund seeks high, consistent income with lower volatility than a dedicated high yield strategy. Our approach leverages a bottom-up, fundamentally driven process that focuses on identifying the best risk-adjusted opportunities across fixed income sectors.


Fund Overview

Data as of 3/31/17

TOP HOLDINGS (% of Fund)

United States Treasury Note/Bond , 2.25%, 11/15/2025 2.21
Hunt Cos Inc , 9.62%, 03/01/2021 1.53
Wachovia Bank Commercial Mortgage Trust Series 2007-C30 , 5.51%, 12/15/2043 1.44
Charter Communications Operating LLC , 3.40%, 01/15/2024 1.42
General Electric Co , 6.38%, 11/15/2067 1.24
JP Morgan Chase Commercial Mortgage Securities Trust 2015-SGP , 5.41%, 07/15/2036 1.20
Wachovia Bank Commercial Mortgage Trust Series 2007-C30 , 5.41%, 12/15/2043 1.13
Fannie Mae Connecticut Avenue Securities , 5.98%, 07/25/2025 1.11
Blackhawk Mining LLC , 02/14/2022 1.11
CH Hold Corp , 8.28%, 02/01/2025 1.08


US Common Stock 0.28
Credit-High Yield 37.89
CMBS 17.76
Credit-Investment Grade 11.62
Bank Loans 9.52
MBS 8.62
ABS 7.41
Treasuries 3.23
CMO 1.17
Government Related 0.91
Convertibles 0.09
Cash & Equivalents 1.50

Why Invest in the Fund


Dynamic portfolio that seeks to capture attractive yield opportunities on a risk-adjusted basis across the fixed income sectors, while typically holding 35% to 65% in below investment grade bonds. The strategy uses a bottom-up, fundamentally driven process.


Partnership and fluid communication between fixed income and equity analysts promotes idea generation. Credit research emphasizes free cash flow generation, quality of management and security valuation.


Our proprietary fixed income portfolio and risk-management system, Quantum Global, is integrated into the investment process at each step. We identify and measure sources of risk in the portfolio at multiple levels to confirm that the portfolio is positioned as intended.


Seth Meyer, CFA

Seth Meyer, CFA

Fund Manager since 2014
Industry since 1998

John Kerschner, CFA

John Kerschner, CFA

Fund Manager since 2014
Industry since 1990

John Lloyd

John Lloyd

Fund Manager since 2014
Industry since 1998