Perkins Value Plus Income Fund (JPVTX)

Data as of 3/31/2014 unless otherwise noted

Fund Overview

Value Oriented Allocation Fund
  • Seeks high quality equity and fixed income investments selected to drive portfolio income.
  • Combines expertise of two separate investment managers, Janus and Perkins, to flexibly allocate assets between equities and fixed income
  • Intense focus of both managers on downside risk

Performance

Inception: Jul 30, 2010
1 Year
3 Year
5 Year
10 Year
Since Fund Inception
Class T Shares
9.92% 9.22% N/A N/A 11.23%
Russell 1000® Value Index 21.57% 14.80% 21.75% 7.58% 18.02%
Barclays U.S. Aggregate Bond TR -0.10% 3.75% 4.80% 4.46% 3.20%
Value Income Index 10.39% 9.42% 13.32% 6.35% 10.66%

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 11/1/14.


Returns greater than one year are annualized.


Yields

  As of As of 3/31/2014
30 Day Yield
30 Day SEC Yield (Without Waivers)
30 Day SEC Yield (With Waivers)
Class T Shares NA 1.62% 1.97%

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

Equity Style

Large Value
 

Fixed Income Style

Medium Moderate

Portfolio Analysis

Top Holdings

% of Fund

View All Holdings (PDF)

U.S. Treasury Notes/Bonds, 0.25%, 02/29/2016 4.24%
U.S. Treasury Notes/Bonds, 0.38%, 01/31/2016 2.56%
U.S. Treasury Notes/Bonds, 2.75%, 11/15/2023 1.95%
Wells Fargo & Co. 1.57%
Oracle Corp. 1.49%
PPL Corp. 1.31%
Novartis AG (ADR) 1.27%
Teva Pharmaceutical Industries, Ltd. (ADR) 1.24%
JPMorgan Chase & Co. 1.20%
Plains GP Holdings L.P. - Class A 1.10%
TOTAL 17.93%

Asset Allocation

% of Fund
Asset Allocation Chart
US Common Stock 45.32%
Non-US Common Stock 10.95%
US Preferred Stock 0.97%
Short Equity Derivatives -0.02%
Treasuries 13.02%
Credit-Investment Grade 12.51%
Credit-High Yield 7.00%
US MBS 5.54%
CMBS 1.12%
Bank Loans 0.53%
Government Related 0.34%
ABS 0.34%
Cash & Equivalents 2.38%
Total 100.00%

Sector Allocation

% of Fixed Income
Financials
11.53%
Health Care
9.76%
Information Technology
7.65%
Consumer Staples
6.20%
Energy
5.50%
Consumer Discretionary
5.38%
Industrials
5.38%
Utilities
2.48%
Telecommunication Services
1.56%
Materials
1.46%
Equity Other
0.32%
US Treasury
13.02%
US Industrials
10.09%
US Finance
5.96%
MBS
5.54%
US Utilities
1.40%
Non-US Finance
1.33%
Non-US Industrials
1.26%
CMBS
1.12%
ABS
0.34%
Non-US Governments/Agencies
0.34%
Cash & Equivalents
2.38%
Total
100.00%
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Fund updates:

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Monthly Distributions

Per share investment income distributions by share class

Management

Jeffrey Kautz | Ted M. Thome | Gibson Smith | Darrell Watters

Jeff Kautz
Jeffrey Kautz

Joined Perkins 1997
Tenure on fund: Since 2010

Read More about Jeffrey Kautz

Ted M. Thome

Joined Perkins 2002
Tenure on fund: Since 2010

Read More about Ted M. Thome

Gibson Smith

Joined Perkins 2001
Tenure on fund: Since 2010

"We have an integrated research model between fixed income and equity at Janus that is very powerful.  We believe this integration allows us to analyze a business in its entirety and to make better informed decisions."

Read More about Gibson Smith

Darrell Watters

Joined Perkins 1993
Tenure on fund: Since 2010

"We have a bias toward credit investing or individual company investing because we believe we can get a competitive advantage from our in-depth fundamental credit research. Our process is enhanced by our integrated fixed income-equity research model, which allows us to analyze a business in its entirety and to make better informed decisions."

Read More about Darrell Watters

Analysis Tools powered by Morningstar™

Morningstar

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

4 of 5 stars

of 742

Moderate Allocation 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 47103E569
Inception 07/30/2010
Total Net Assets (as of 03/31/2014) $ 63.3M
Total Number of Equity Issues 109
Total Number of Debt Issues 236
Annual Expense Ratios (as of fiscal year-end 06/30/2013)
Gross 1.33%
Net 0.93%
Alpha (3-Year-Fund) -1.37
Beta (3-Year-Fund) 1.13
R-Squared (3-Year-Fund) 96.82%
Sharpe Ratio (3-Year - Fund) 1.25
Sharpe Ratio (3-Year - Russell 1000 Value Index) 1.11
Standard Deviation (3-Year - Fund) 7.24
Standard Deviation (3-Year - Russell 1000 Value Index) 13.22

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.


Funds that invest in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds owned by the fund. Unlike owning individual bonds, there are ongoing fees and expenses associated with owning shares of bond funds. The return of principal is not guaranteed due to net asset value fluctuation that is caused by changes in the price of specific bonds held in the fund and selling of bonds within the fund by the portfolio manager(s).


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.


For Perkins Value Plus Income Fund: High-yield/high-risk bonds, also known as "junk" bonds, involve a greater risk of default and price volatility than U.S. Government and other high quality bonds. High-yield/high-risk bonds can experience sudden and sharp price swings which will affect net asset value.


For Perkins Value Plus Income Fund: For a period of three years subsequent to the Fund's commencement of operations, Janus Capital may recover from the Fund fees and expenses previously waived or reimbursed if the Fund's expense ratio, including recovered expenses, falls below the expense limit.


©2014 Morningstar, Inc. All Rights Reserved.


When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the ranking and/or rating for the period.


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.


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