Janus Forty Fund (JDCAX)

Data as of 3/31/2014 unless otherwise noted

Fund Overview

Concentrated large cap growth
  • High-conviction, research driven portfolio of dominant large cap growth companies
  • Seeks undervalued, wide-moat businesses with strong pricing power and growth potential from increasing global demand
  • Long-term investment approach seeking companies that are poised to grow over a multi-year period

Performance

Inception: May 1, 1997
1 Year
3 Year
5 Year
10 Year
Since Fund Inception
Class A Shares @NAV
22.12% 13.42% 17.78% 9.09% 10.52%
@MOP
15.09% 11.21% 16.39% 8.64% 10.26%
Russell 1000® Growth Index 23.22% 14.62% 21.68% 7.86% 6.26%
S&P 500® Index 21.86% 14.66% 21.16% 7.42% 7.11%

* Information Regarding Sales Charge Reductions and Waivers >

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.


Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/15.


Performance shown for Class A Shares at Maximum Offering Price (MOP) includes the Fund's maximum sales charge of 5.75%. Performance shown at Net Asset Value (NAV) does not include this sales charge and would have been lower had this sales charge been taken into account.


Returns greater than one year are annualized.


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

Equity Style

Large Growth

Portfolio Analysis

Top Holdings

% of Fund

View All Holdings (PDF)

Google, Inc. - Class A 5.56%
Precision Castparts Corp. 4.46%
Canadian Pacific Railway, Ltd. (U.S. Shares) 4.37%
U.S. Bancorp 4.27%
MasterCard, Inc. - Class A 3.77%
TOTAL 22.43%

Asset Allocation

% of Fund
Asset Allocation Chart
US Common Stock 87.21%
Non-US Common Stock 12.13%
Cash & Equivalents 0.66%
Total 100.00%

Sector Allocation

Consumer Discretionary
28.07%
Information Technology
24.61%
Health Care
19.44%
Industrials
12.04%
Financials
10.43%
Materials
3.63%
Telecommunication Services
1.12%
Cash & Equivalents
0.66%
Total
100.00%
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Fund update:

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Management

Doug Rao

Doug Rao

Joined Janus 2013
Tenure on fund: Since 2013

Read More about Doug Rao

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Morningstar

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

2 of 5 stars

@NAV of 1491

Large Growth Funds

1 of 5 stars

@MOP of 1491

Large Growth 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

Fund Facts 

CUSIP 47103A674
Inception 05/01/1997
Total Net Assets (as of 03/31/2014) $ 2.9B
Total Number of Equity Issues 40
Total Number of Debt Issues 0
Weighted Average Market Capitalization ($ billion) $ 68.87
Portfolio Turnover Rate 72.83%
Annual Expense Ratios (as of fiscal year-end 09/30/2013)
Gross 0.86%
Net 0.86%
Alpha (3-Year-Fund) -3.18
Beta (3-Year-Fund) 1.17
R-Squared (3-Year-Fund) 92.33%
Sharpe Ratio (3-Year - Fund) .85
Sharpe Ratio (3-Year - Russell 1000 Growth Index) 1.14
Standard Deviation (3-Year - Fund) 15.49
Standard Deviation (3-Year - Russell 1000 Growth Index) 12.77

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.


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.


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.


Class A Shares of the Fund commenced operations on 7/6/09. The historical performance shown for periods prior to 7/6/09 was calculated using the performance and the fees and expenses of one or more other share classes of a predecessor fund(s), accounting for, when applicable and permitted, any fee and expense limitations and waivers. If each respective share class of the Fund had been available during periods prior to 7/6/09, the performance shown may have been different. Please refer to the Fund's prospectus for further details concerning historical performance.


The fees and expenses shown were determined based on net assets as of the fiscal period ended 9/30/10. The effect of contractual waivers agreed to by Janus Capital, when applicable, are reflected under "Net Annual Fund Operating Expenses." (All expenses are shown without the effect of expense offset arrangements. Pursuant to such arrangements, credits realized as a result of uninvested cash balances are used to reduce custodian and transfer agent expenses.)


The fund is classified as "nondiversified", meaning it has the ability to take larger positions in a smaller number of issuers than a "diversified" fund. Nondiversified funds may experience greater price volatility.


©2014 Morningstar, Inc. All Rights Reserved.


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


Ratings shown are for load-waived A Shares and do not include any front-end sales charge or any applicable recurring or non-recurring fees. They are intended for those investors who have access to such purchase terms and may be based, in part, on the performance of a predecessor Fund. Ratings may have been lower if the sales charge and fees were taken into account. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category that accounts for variation in a fund’s monthly performance (both with and without 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Morningstar Rating™ may differ among share classes of a mutual fund as a result of different sales loads and/or expense structures.

Past performance is no guarantee of future results. Visit janus.com/mutual funds for current month-end performance.

Mutual fund investing involves market risk. Investment return and fund share value will fluctuate and it is possible to lose money by investing.


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.


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