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1Q17 MATHEMATICAL
INTECH Global Income Managed Volatility Fund A:JGDAX C:JGDCX I:JGDIX S:JGDSX T:JDGTX as of 3/31/17
Morningstar Style Box™ MARKET CAPITALIZATION
X
SMALL
MID
LARGE
INVESTMENT STYLE
Category World Stock
Fund Description This long-only, global developed-markets equity fund seeks smaller drawdowns and a smoother ride over time by balancing downside mitigation with upside participation for any market environment. The Fund employs a systematic “dynamic beta” investment approach designed to adjust to changing risk environments, seeking up to 45% less volatility versus the MSCI World High Dividend Yield Index.
Fund Performance (%)
1Q17
1 yr
3 yr
5 yr
10 yr
Since Inception (12/15/11)
Class I Shares
7.16
4.75
5.90
9.32
—
10.51
Class T Shares
6.98
4.53
5.66
9.09
—
10.27
Class A Shares @ NAV
7.00
4.40
5.56
9.00
—
10.19
Class A Shares @ MOP
0.85
-1.63
3.50
7.72
—
8.96
Fund Characteristics
SM
MSCI World Index
6.38
14.77
5.52
9.37
—
11.84
Inception Date
12/15/11
MSCI World High Dividend Yield Index
5.91
11.54
3.84
8.37
—
9.69
Assets
$198.85 M
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.
VALUE
BLEND GROWTH
Portfolio Management Adrian Banner, Ph.D. Vassilios Papathanakos, Ph.D. Phillip Whitman, Ph.D. Joseph Runnels, CFA
Number of Holdings Equity Issues
127
Turnover
65.89%
(1 year trailing)
Weighted Average Market Cap
$40.23 B
Distribution Frequency
Monthly
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.
Calendar Year Returns (%)
2012
2013
2014
2015
2016
Class I Shares
12.35
20.88
MSCI World High Dividend Yield Index
12.24
21.91
-0.87
7.94
5.68
2.48
-3.20
9.29
30-Day SEC Yield (%) Class A Class I Class T
With Without Waivers Waivers 2.73 2.69 3.20 3.03
3.16 2.99
Hypothetical Growth of $10,000 Since Inception $20,000 Class I Shares MSCI World High Dividend Yield Index
Expense Ratios (%) Class A
Gross 1.48
Net 0.82
Class C 2.17 1.56 Class I 1.18 0.58 Class S 1.79 1.01 Class T 1.31 0.75 Net expense ratios reflect the expense waiver, if any, contractually agreed to through 11/1/17.
$16,969 $16,314
$10,000
$0 12/15/11 Source: Morningstar, Inc.
2013
2015
3/31/17
Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized. Not all Funds and Share classes may be available. Please consult your financial advisor. Continued on back page.
INTECH Global Income Managed Volatility Fund
Risk Statistics (3 Year) Alpha Beta R-squared (%) Standard Deviation Sharpe Ratio Statistics are for Class I Shares.
Top Countries (%) United States Hong Kong Japan Australia Canada Singapore France Switzerland New Zealand Italy
Regions (%) North America Asia/Pacific Ex Japan Japan Europe
Market Capitalization Range of Equity Holdings (%) Over $100B $25B to $100B $15B to $25B $2B to $15B
Fund 3.45 0.64 54.09 8.63 0.67
Fund 51.59 17.63 11.03 3.97 3.94 2.92 2.41 2.06 1.79 0.28
Index — 1.00 100.00 9.99 0.37
Index 47.24 2.37 3.27 2.18 5.98 1.40 5.44 10.18 0.14 0.26
Fund 55.52 26.31 11.03 5.57
Index 53.23 6.09 3.27 37.04
Fund 8.66 38.62 17.85 33.30
Index 46.63 35.92 6.16 11.29
Developed vs. Emerging Market Exposure (%) U.S. Non-U.S. Developed
Fund 51.59 46.84
Index 47.25 52.75
Fund 34.24 16.47 14.08 7.46 6.09 5.83 5.46 4.93 1.40 1.26 1.21 1.57
Index 8.12 7.56 19.89 8.71 6.25 10.53 1.18 14.90 8.93 8.57 5.36 —
Top Holdings (40.12% of Fund) CLP Holdings Ltd Consolidated Edison Inc Daito Trust Construction Co Ltd Kimberly-Clark Corp McDonald's Corp PG&E Corp Power Assets Holdings Ltd Reynolds American Inc Sonic Healthcare Ltd Southern Co
Sector Allocation (%) Utilities Consumer Discretionary Consumer Staples Industrials Telecommunication Services Financials Real Estate Health Care Information Technology Energy Materials Cash & Equivalents
Index represents the MSCI World High Dividend Yield Index. 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. Equity country, regional, sector and industry weights based on MSCI and GICS classifications. Fixed income country, regional, sector and industry weights based on Barclays classifications. Investing involves market risk and it is possible to lose money by investing. Investment return and value will fluctuate in response to issuer, political, market and economic developments, which can affect a single issuer, issuers within an industry, economic sector or geographic region, or the market as a whole. Foreign securities are subject to additional risks including currency fluctuations, political and economic uncertainty, increased volatility, lower liquidity and differing financial and information reporting standards, all of which are magnified in emerging markets. Real estate securities, including Real Estate Investment Trusts (REITs) may be subject to additional risks, including interest rate, management, tax, economic, environmental and concentration risks. INTECH's focus on managed volatility may keep the Fund from achieving excess returns over its index. The strategy may underperform during certain periods of up markets, and may not achieve the desired level of protection in down markets. Index performance does not reflect the expenses of managing a portfolio as an index is unmanaged and not available for direct investment. MSCI World IndexSM reflects the equity market performance of global developed markets. MSCI World High Dividend Yield IndexSM reflects the performance of high dividend yield securities from global developed markets. Alpha compares riskadjusted performance relative to an index. Positive alpha means outperformance on a risk-adjusted basis. Beta measures the volatility of a security or portfolio relative to an index. Less than one means lower volatility than the index; more than one means greater volatility. R-Squared (R2) measures the relationship between portfolio and index performance on a scale of 0.00 (0%) to 1.00 (100%). A higher R2 indicates more of the portfolio's performance is affected by market movements and vice versa. Standard Deviation measures historical volatility. Higher standard deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance using excess returns versus the "risk-free" rate and the volatility of those returns. A higher ratio means better return per unit of risk.
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. INTECH Investment Management LLC is a subsidiary of Janus Capital Group Inc. and serves as the sub-adviser on certain products. Janus and INTECH are registered trademarks of Janus International Holding LLC. © Janus International Holding LLC. Janus Distributors LLC C-0317-8462 07-15-17
For more information visit www.janus.com
198-08-28862 04-17