INTECH Global Dividend Fund

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2Q14

INTECH Global Dividend Fund EQUITY INCOME FROM DEVELOPED MARKETS A: JGDAX

C: JGDCX S: JGDSX

I: JGDIX

Class A Shares as of 6/30/14

T: JDGTX

Fund Overview Global Equity Income Fund

25+ Years of Disciplined Investing

Income + Appreciation Potential

Diversified portfolio of high dividend paying companies from developed markets with at least a five-year history of consistent dividend payments.

Mathematical investment process is disciplined, repeatable and provides styleconsistent portfolios. INTECH is one of the largest quantitative equity managers in the United States.

Seeks to balance dividend income and longterm growth of capital, which together may help offset the negative consequences of inflation.

Fund Performance

Average Annual Total Returns Since Inception 5 yr 10 yr (12/15/11)

Performance (%)

2Q2014

YTD

1 yr

3 yr

Class A Shares @ NAV

4.59

6.65

21.79

—

—

—

16.85

Class A Shares @ MOP

-1.41

0.53

14.77

—

—

—

14.16

SM

MSCI World Index

4.86

6.18

24.05

—

—

—

20.72

MSCI World High Dividend Yield Index

5.34

8.02

23.04

—

—

—

18.37

†

Annual Expense Ratio: Gross 2.69% / Net 0.77%

As of 6/30/2014, the 30 Day SEC Yield for Class A Shares was 2.50%‡ 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 call 877.33JANUS (52687) or visit janus.com/advisor/mutual-funds. Maximum Offering Price (MOP) returns include the maximum sales charge of 5.75%. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns. †

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/14.

Calendar Year Returns (%)

2012

2013

Class A Shares @ NAV

12.05

20.58

MSCI World IndexSM

15.83

26.68

‡

The SEC standardized yield is computed under an SEC standardized formula and reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). Returns and yields shown include fee waivers, if any, and without such waivers the Fund’s yield would have been 1.85%. Returns include reinvestment of dividends and capital gains. Continued on back page.

2Q14 Class A Shares as of 6/30/14

INTECH Global Dividend Fund

JANUS.COM

Subadvisor

Fund Details Sector Allocation (% of Fund) Industrials Utilities Consumer Discretionary Financials Consumer Staples Health Care Energy Telecommunication Services Materials Information Technology Cash & Equivalents

Portfolio Managers

Developed vs. Emerging Market Exposure 14.77 14.75 13.35 13.10 10.90 9.35 8.26 5.78 4.38 4.23 1.13

Top Holdings (% of Fund) AstraZeneca PLC British Sky Broadcasting Group PLC Legal & General Group PLC Lockheed Martin Corp. Lorillard, Inc. Raytheon Co. Seagate Technology PLC Statoil ASA Swisscom A.G. Teva Pharmaceutical Industries, Ltd. Total 16.45 Holdings are subject to change without notice. For a complete list of holdings as of the most recent publicly available disclosure period, visit janus.com/advisor/mutual-funds.

(% of Fund) Non-U.S. Developed U.S. Cash & Equivalents

72.95 25.92 1.13

Countries (% of Fund) United States United Kingdom France Australia Canada Switzerland Hong Kong Spain Finland Norway Total Country and/or regional weights based on MSCI classifications.

INTECH

Adrian Banner, Ph.D. Vassilios Papathanakos, Ph.D. Joseph Runnels, CFA Phillip Whitman, Ph.D.

Fund Assets Distribution Frequency

25.93 20.01 8.29 6.17 4.89 4.67 3.12 2.93 2.93 2.87 81.81

$20.4 M Monthly

Number of Holdings

296

Turnover (1-yr trailing)

49%

Weighted Average Market Cap

$39.0 B

Morningstar Category World Stock

Ready to learn more? Contact your Financial Advisor today. Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus at 877.33JANUS (52687) or download the file from janus.com/info. Read it carefully before you invest or send money. Until three years from inception, Janus Capital may recover expenses previously waived or reimbursed if the expense ratio falls below certain limits. A Fund’s performance may be affected by risks that include those associated with nondiversification, non-investment grade debt securities, high-yield/high-risk securities, undervalued or overlooked companies, investments in specific industries or countries and potential conflicts of interest. Additional risks to a Fund may also include, but are not limited to, those associated with investing in foreign securities, emerging markets, initial public offerings, real estate investment trusts (REITs), derivatives, short sales, commodity-linked investments and companies with relatively small market capitalizations. Each Fund has different risks. Please see a Janus prospectus for more information about risks, Fund holdings and other details. Foreign securities are subject to additional risks including currency fluctuations, political and economic uncertainty, increased volatility and differing financial and information reporting standards, all of which are magnified in emerging markets. The proprietary mathematical process used by INTECH may not achieve the desired results. Since the Fund's portfolio is periodically re-balanced, this may result in a higher portfolio turnover rate, higher expenses and potentially higher net taxable gains or losses compared to a "buy and hold" or index fund strategy. The Fund will normally invest at least 80% of its net assets, measured at the time of purchase, in the type of securities described by its name. MSCI World IndexSM is a market capitalization weighted index composed of companies representative of the market structure of developed market countries in North America, Europe and the Asia/Pacific Region. The index includes reinvestment of dividends, net of foreign withholding taxes. MSCI World High Dividend Yield Index is designed to reflect the performance of the high dividend yield securities contained within the broader MSCI World Index. MSCI World High Dividend Yield Index includes large and mid cap stocks from developed markets across the Americas, Asia-Pacific and Europe. A Fund’s portfolio may differ significantly from the securities held in an index. An index is unmanaged and not available for direct investment; therefore its performance does not reflect the expenses associated with the active management of an actual portfolio. INTECH Investment Management LLC is an indirect subsidiary of Janus Capital Group Inc. and serves as the sub-adviser on certain products. © 2014 Morningstar, Inc. All Rights Reserved. Fund distributed by Janus Distributors LLC C-0614-68136 10-15-14

198-08-21526 07-14