Janus Aspen Perkins Mid Cap Value Portfolio (JAMVX)

Data as of 3/31/2014 unless otherwise noted

Portfolio Overview

Uncommon Value
  • Disciplined valuation process focused on measuring downside risk before upside potential
  • Diversified portfolios of what we believe are high-quality, undervalued stocks
  • Fundamental, bottom-up approach to stock picking

Performance

Inception: May 1, 2003
1 Year
3 Year
5 Year
10 Year
Since Portfolio Inception
Institutional Shares
16.13% 9.46% 18.38% 9.09% 11.91%
Russell MidCap® Value Index 22.95% 15.17% 26.35% 10.24% 12.85%

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.


Returns quoted reflect the expense waiver, if any, Janus Capital has contractually agreed to through 5/1/14.


Returns greater than one year are annualized.


Morningstar Style Box™ (As of 3/31/2014)

Equity Style

Mid Blend

Portfolio Analysis

Top Holdings

% of Portfolio

View All Holdings (PDF)

PPL Corp. 2.60%
Torchmark Corp. 2.13%
Tyco International, Ltd. (U.S. Shares) 2.12%
Republic Services, Inc. 2.02%
Canadian Pacific Railway, Ltd. (U.S. Shares) 1.94%
Plains GP Holdings L.P. - Class A 1.94%
Allstate Corp. 1.88%
Laboratory Corp. of America Holdings 1.76%
CIT Group, Inc. 1.75%
Kirby Corp. 1.73%
TOTAL 19.87%

Asset Allocation

% of Portfolio
Asset Allocation Chart
US Common Stock 88.33%
Non-US Common Stock 6.59%
Cash & Equivalents 5.08%
Total 100.00%

Sector Allocation

% of Fund
Financials
30.79%
Industrials
16.07%
Health Care
10.66%
Energy
9.07%
Information Technology
6.92%
Consumer Staples
6.38%
Consumer Discretionary
6.19%
Utilities
4.95%
Materials
2.16%
Telecommunication Services
1.73%
Cash & Equivalents
5.08%
Total
100.00%
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Management

Thomas M. Perkins | Jeffrey Kautz | Kevin Preloger

Tom Perkins
Thomas M. Perkins

Joined Perkins 1998
Tenure on fund: Since 2002

Read More about Thomas M. Perkins

Jeff Kautz
Jeffrey Kautz

Joined Perkins 1997
Tenure on fund: Since 2002

Read More about Jeffrey Kautz

Kevin Preloger

Joined Perkins 2002
Tenure on fund: Since 2002

Read More about Kevin Preloger

Analysis Tools powered by Morningstar™

Morningstar

Overall Morningstar Rating™ (As of 3/31/2014)

3 of 5 stars

of 365

Mid-Cap Value Funds

View detailed Morningstar ratings

Ratings are based on risk-adjusted returns. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.


As of 3/31/2014

Portfolio Facts 

CUSIP 471021436
Inception 05/01/2003
Total Net Assets (as of 03/31/2014) $ 145.0M
Total Number of Equity Issues 91
Total Number of Debt Issues 0
Weighted Average Market Capitalization ($ billion) $ 14.22
Portfolio Turnover Rate 65.03%
Annual Expense Ratios (as of fiscal year-end 12/31/2012)
Gross 0.58%
Net 0.58%
Alpha (3-Year-Fund) -3.82
Beta (3-Year-Fund) 0.91
R-Squared (3-Year-Fund) 96.71%
Sharpe Ratio (3-Year - Fund) .72
Sharpe Ratio (3-Year - Russell Midcap Value Index) 1.07
Standard Deviation (3-Year - Fund) 13.06
Standard Deviation (3-Year - Russell Midcap Value Index) 14.13

Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus, or if available, a summary prospectus containing this and other information. Read it carefully before you invest or send money.


Returns include reinvestment of dividends and capital gains.


Ratings and/or rankings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Janus. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund[s]. The rating/rankings are displayed for informational purposes only and should not be relied upon when making investment decisions.


This Portfolio has a performance-based management fee that adjusts up or down based on the Portfolio’s performance relative to an approved benchmark index over a performance measurement period. See the Portfolio’s Prospectus or Statement of Additional Information for more details.


A portfolio’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. Additional risks to a portfolio(s) 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 and companies with relatively small market capitalizations. Each Portfolio has different risks. Please see a Janus prospectus or janus.com/info for more information about risks, portfolio holdings and other details.


The Portfolio 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.


Holdings are subject to change without notice.


Returns shown do not represent actual returns since they do not include insurance charges. Returns shown would have been lower had they included insurance charges.


©2014 Morningstar, Inc. All Rights Reserved.


For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Morningstar Rating™ may differ among share classes of a mutual fund as a result of different sales loads and/or expense structures. It may be based, in part, on the performance of a predecessor Fund.


Ratings and Rankings are for the share class shown only; other classes may have different performance characteristics.


The Morningstar Style BoxTM reveals a fund's investment strategy. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).


A Fund's portfolio may differ significantly from the securities held in the index. The 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.


Perkins Investment Management LLC is an indirect subsidiary of Janus Capital Group Inc. and serves as the sub-adviser on certain products.


Janus Aspen Series is sold only through life insurance companies in connection with certain variable annuity contracts, variable annuity life policies, and eligible retirement plans. The trust consists of separate mutual funds, each with its own investment goal and strategy.Consider the investment objectives, risks, and charges and expenses carefully. For product and underlying funds prospectuses containing this and other information for any variable annuity or variable life product that invests in Janus Aspen Series, contact the offering insurance company.


Portfolios distributed by Janus Distributors LLC


Janus International Holding LLC © 2001-2014. All rights reserved.