Janus Capital Group Inc. (NYSE: JNS) today announced that it appointed two portfolio managers "" Jonathan Coleman and Gibson Smith "" as Janus' co-chief investment officers (CIOs) in charge of its equity, fixed income and money-markets teams. In taking on these roles, Coleman and Smith will enable Janus CEO and Chief Investment Officer Gary Black to turn over his CIO responsibilities and focus his efforts on growing Janus' assets.
The new roles, which are effective immediately, will not change the co-CIOs' portfolio management responsibilities. Coleman will continue to run the U.S.-based Janus Enterprise Fund and other mid-cap growth portfolios sold through intermediary and institutional channels. Smith, who leads the firm's fixed income and money-market departments, will still manage U.S.-based Janus High-Yield Fund, Janus Short-Term Bond Fund and co-manage Janus Balanced Fund and related portfolios sold through U.S. and international intermediary and institutional channels.
Black said the co-CIOs' positions, which replace the firm's four investment-discipline CIOs, are a natural evolution of the investment team's leadership. "I appreciate the significant contributions that our other two investment-discipline CIOs, David Decker and Jason Yee, have made," Black said. "David is focused on running our first alternative-investment product "" Janus Adviser Long/Short Fund "" as well as Janus Contrarian Fund, while Jason will continue to manage Janus Worldwide Fund and its related portfolios."
In their new capacities, Coleman and Smith will oversee the company's investment process, including Janus' portfolio management, research, investment risk and trading.
"I chose Jonathan and Gibson because they are respected by their peers, know our business well and have strong leadership skills and complementary investment backgrounds," Black said. "As they assume responsibility for our investment team, which continues to deliver strong performance, I can devote more of my time to helping Janus grow."
Black noted that Janus' three-year relative performance is the highest it's been since June 2001. As of September 30, 2006, approximately 64%, 78% and 77% of the funds in the company's primary U.S.-based retail fund family, Janus Investment Fund (JIF), were in the top half of their Lipper categories on a one-, three- and five-year total-return basis, respectively. Detailed Lipper rankings and performance data for JIF funds are on pages 3-5.
About Janus Capital Group Inc.
Founded in 1969, Denver-based Janus Capital Group Inc. (Janus) is a recognized leader of growth and risk-managed investment strategies. Our commitment to deliver for investors is rooted in our research-intensive approach and relentless passion to gain a competitive edge.
At the end of September 30, 2006, Janus managed approximately $158.3 billion in assets for more than four million shareholders, clients and institutions around the globe. Outside the U.S., Janus has offices in London, Milan, Tokyo and Hong Kong.
Janus Capital Group consists of Janus Capital Management LLC, Enhanced Investment Technologies, LLC (INTECH), and Capital Group Partners, Inc. (doing business as Rapid Solutions Group). In addition, Janus Capital Group owns 30% of Perkins, Wolf, McDonnell and Company, LLC.
Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus containing this and other information, please call Janus at 1-800-525-3713 or download the file from www.janus.com. Read it carefully before you invest or send money.
Data presented reflects past performance, which is no guarantee of future results. Rankings referenced exclude money markets.
Funds distributed by Janus Distributors LLC (11/06).
| Janus Investment Funds ("JIF") | Lipper Rankings Based | Lipper Rankings Based | Lipper Rankings Based | ||||||||||||||||||||
on Total Returns as of 9/30/06 | on Total Returns as of 9/30/06 | Â | on Total Returns as of 9/30/06 | ||||||||||||||||||||
| 1-Year | 3-Year | 5-Year | 10-Year | Since PM Inception | |||||||||||||||||||
Percen- tile Rank (%) | Rank/ Total Funds | Percen- tile Rank (%) | Rank/ Total Funds | Percen- tile Rank (%) | Rank/ Total Funds | Percen- tile Rank (%) | Rank/ Total Funds | Percentile Rank (%) | Rank/ Total Funds | ||||||||||||||
| PM Inception | Lipper Category | Â | Â | Â | Â | Â | Â | Â | Â | Â | |||||||||||||
| Growth Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Fund | Jan-06 | Large-Cap Growth Funds | 13 | 90/717 | 30 | 183/612 | 34 | 168/498 | 42 | 71/171 | "¡ | ||||||||||||
| Janus Twenty Fund(1) | Aug-97 | Large-Cap Growth Funds | 49 | 346/717 | 1 | 2/612 | 4 | 18/498 | 1 | 1/171 | 4 | 9/234 | |||||||||||
| Janus Mercury Fund | Jan-06 | Large-Cap Growth Funds | 21 | 147/717 | 6 | 33/612 | 30 | 149/498 | 6 | 10/171 | "¡ | ||||||||||||
| Janus Olympus Fund(1) | Jun-06 | Multi-Cap Growth Funds | 55 | 232/427 | 42 | 151/366 | 42 | 123/295 | 28 | 28/101 | "¡ | ||||||||||||
| Janus Enterprise Fund | Jan-02 | Mid-Cap Growth Funds | 15 | 87/605 | 9 | 40/479 | 32 | 117/373 | 64 | 88/137 | 12 | 47/392 | |||||||||||
| Janus Venture Fund(1) | Jan-01 | Small-Cap Growth Funds | 19 | 101/558 | 18 | 79/463 | 16 | 58/370 | 39 | 51/132 | 25 | 86/344 | |||||||||||
| Janus Orion Fund | Jun-00 | Multi-Cap Growth Funds | 9 | 35/427 | 1 | 1/366 | 5 | 13/295 | - | - | 31 | 69/223 | |||||||||||
| Janus Triton Fund | Jun-06 | Small-Cap Growth Funds | 10 | 55/558 | - | - | - | - | - | - | "¡ | ||||||||||||
| Janus Research Fund | Feb-05 | Â | Multi-Cap Growth Funds | Â | 2 | Â | 7/427 | Â | - | Â | - | Â | - | Â | - | Â | - | Â | - | Â | 2 | Â | 5/401 |
| Core Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Growth and Income Fund | Dec-03 | Large-Cap Core Funds | 91 | 764/841 | 12 | 84/708 | 24 | 136/587 | 3 | 6/257 | 12 | 80/717 | |||||||||||
| Janus Balanced Fund | Apr-05 | Mixed-Asset Target Alloc. Mod. Funds | 12 | 47/400 | 28 | 76/279 | 44 | 96/219 | 3 | 2/93 | 8 | 31/389 | |||||||||||
| Janus Contrarian Fund | Feb-00 | Multi-Cap Core Funds | 4 | 27/845 | 1 | 1/595 | 2 | 6/440 | - | - | 11 | 34/333 | |||||||||||
Janus Funda- mental Equity  Fund | Apr-05 | Large-Cap Core Funds | 54 | 449/841 | 2 | 9/708 | 5 | 25/587 | 2 | 3/257 | 2 | 10/809 | |||||||||||
| INTECH Risk-Managed Stock Fund | Feb-03 | Â | Multi-Cap Core Funds | Â | 56 | Â | 467/845 | Â | 7 | Â | 41/595 | Â | - | Â | - | Â | - | Â | - | Â | 23 | Â | 125/565 |
International/ Global Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | ||
| Janus Worldwide Fund | Jun-04 | Global Funds | 83 | 312/375 | 99 | 297/302 | 98 | 227/233 | 68 | 61/89 | 90 | 286/320 | |||||||||||
| Janus Overseas Fund | Jun-03 | Inter- national Funds | 1 | 1/925 | 1 | 1/775 | 9 | 57/641 | 4 | 9/249 | 1 | 1/759 | |||||||||||
| Janus Global Life Sciences Fund | Dec-98 | Health/Bio- technology Funds | 63 | 112/177 | 19 | 29/160 | 50 | 65/129 | - | - | 37 | 18/48 | |||||||||||
| Janus Global Technology Fund | Jan-06 | Science & Technology Funds | 40 | 114/288 | 49 | 125/259 | 55 | 124/227 | - | - | "¡ | ||||||||||||
Janus Global Oppor- tunities Fund | Jun-01 | Â | Global Funds | Â | 98 | Â | 367/375 | Â | 93 | Â | 280/302 | Â | 39 | Â | 90/233 | Â | - | Â | - | Â | 25 | Â | 57/227 |
| Value Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Mid Cap Value Fund - Inv(2) | Aug-98 | Mid-Cap Value Funds | 48 | 135/286 | 40 | 89/222 | 27 | 41/151 | - | - | 4 | 3/77 | |||||||||||
| Janus Small Cap Value Fund - Inv.(1,2) | Feb-97 | Â | Small-Cap Core Funds | Â | 66 | Â | 434/657 | Â | 69 | Â | 350/508 | Â | 58 | Â | 230/397 | Â | - | Â | - | Â | 13 | Â | 17/134 |
| Income Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Flexible Bond Fund | Dec-91 | Intermediate Inv Grade Debt Funds | 38 | 183/486 | 50 | 212/426 | 19 | 63/340 | 29 | 44/151 | 4 | 2/55 | |||||||||||
| Janus High-Yield Fund | Dec-03 | High Current Yield Funds | 22 | 97/458 | 51 | 201/396 | 61 | 196/321 | 14 | 16/120 | 40 | 159/403 | |||||||||||
| Janus Short-Term Bond Fund | Jun-03 | Short Investment Grade Debt Funds | 43 | 99/233 | 27 | 51/192 | 41 | 57/139 | 23 | 16/71 | 25 | 45/180 | |||||||||||
| Janus Federal Tax-Exempt Fund | Feb-05 | Â | General Muni Debt Funds | Â | 61 | Â | 155/256 | Â | 85 | Â | 209/247 | Â | 72 | Â | 158/220 | Â | 83 | Â | 120/145 | Â | 53 | Â | 133/251 |
| Percent of JIF Funds per Lipper Quartile based on Total Returns | |||||||||
| Â | 1-Year | Â | 3-Year | Â | 5-Year | Â | 10-Year | Â | Since PM Inception |
| 1st Quartile | 44.0% | 47.8% | 36.4% | 53.3% | 75.0% | ||||
| 2nd Quartile | 20.0% | 30.4% | 40.9% | 26.7% | 15.0% | ||||
| 3rd Quartile | 24.0% | 8.7% | 18.2% | 13.3% | 5.0% | ||||
| 4th Quartile | 12.0% | Â | 13.0% | Â | 4.5% | Â | 6.7% | Â | 5.0% |
Lipper Inc. "" A Reuters Company, is a nationally recognized organization that ranks the performance of mutual funds within a universe of funds that have similar investment objectives. Rankings are historical with capital gains and dividends reinvested. If an expense waiver was in effect, it may have had a material effect on the total return or yield for the period.
Data presented reflects past performance, which is no guarantee of future results.
Notes:
(1) Closed to new investors
(2) Ranking is for the investor share class only; other classes may have different performance characteristics.
"¡ The Fund's since PM-Inception ranking is not available.
Data presented reflects past performance, which is no guarantee of future results. Investment results and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility, current performance may be higher or lower than the performance shown. Call 1-800-975-9932 or visit www.janus.com for performance current to the most recent month-end.
See notes to performance on the following page.
| Janus Investment Fund ("JIF") | ||||||||||||
| Average Annual Total Returns (%) for Periods Ended 9/30/06(1) | ||||||||||||
| Inception Date | Life of Fund | |||||||||||
| 1 Year | 3 Year | 5 Year | 10 Year | |||||||||
| Growth Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Fund | 2/70 | 6.72 | 8.91 | 4.36 | 5.85 | 13.67 | ||||||
| Janus Twenty Fund(2) | 4/85 | 3.87 | 15.28 | 7.69 | 9.53 | 13.10 | ||||||
| Janus Mercury Fund(3) | 5/93 | 5.99 | 11.19 | 4.61 | 7.94 | 12.15 | ||||||
| Janus Olympus Fund(2) | 12/95 | 4.13 | 11.26 | 6.84 | 8.90 | 10.72 | ||||||
| Janus Enterprise Fund | 9/92 | 9.17 | 16.41 | 9.49 | 6.15 | 11.10 | ||||||
Janus Venture Fund(24) | 4/85 | 7.95 | 14.07 | 12.79 | 8.44 | 13.16 | ||||||
| Janus Orion Fund(5,6) | 6/00 | 12.24 | 20.01 | 13.21 | -- | (1.52) | ||||||
| Janus Triton Fund(4) | 2/05 | 9.88 | -- | -- | -- | 13.17 | ||||||
| Janus Research Fund(5,7) | Â | 2/05 | Â | 15.06 | Â | -- | Â | -- | Â | -- | Â | 18.09 |
| Core Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Growth and Income Fund(4) | 5/91 | 4.90 | 13.33 | 6.82 | 10.80 | 13.12 | ||||||
| Janus Balanced Fund | 9/92 | 9.75 | 9.84 | 6.71 | 9.61 | 11.13 | ||||||
| Janus Contrarian Fund(5,9) | 2/00 | 13.55 | 22.20 | 16.64 | -- | 8.92 | ||||||
| Janus Fundamental Equity Fund(8) | 6/96 | 8.93 | 16.17 | 9.12 | 11.39 | 12.60 | ||||||
| INTECH Risk-Managed Stock Fund(10,11) | Â | 2/03 | Â | 8.36 | Â | 15.86 | Â | -- | Â | -- | Â | 18.11 |
| International/Global Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Worldwide Fund(10) | 5/91 | 10.12 | 10.32 | 4.25 | 6.13 | 10.78 | ||||||
| Janus Overseas Fund(5,8,10,12,13) | 5/94 | 36.62 | 31.63 | 18.68 | 13.26 | 14.14 | ||||||
| Janus Global Life Sciences Fund(8,10) | 12/98 | 1.41 | 12.07 | 4.05 | -- | 9.47 | ||||||
| Janus Global Technology Fund(5,8,10) | 12/98 | 5.76 | 7.91 | 5.07 | -- | 2.56 | ||||||
| Janus Global Opportunities Fund(10) | Â | 6/01 | Â | 6.02 | Â | 11.96 | Â | 10.99 | Â | -- | Â | 8.53 |
| Value Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Small Cap Value Fund - Inv.(2,6,14) | 10/87 | 5.91 | 14.03 | 13.20 | 14.71 | 14.21 | ||||||
| Janus Mid Cap Value Fund - Inv.(6,8,15) | Â | 8/98 | Â | 9.31 | Â | 17.09 | Â | 15.43 | Â | -- | Â | 17.08 |
| Income Funds | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Janus Flexible Bond Fund(8,16,17) | 7/87 | 3.32 | 2.98 | 4.98 | 6.08 | 7.50 | ||||||
| Janus High-Yield Fund(6,8,10,16,17) | 12/95 | 7.80 | 7.90 | 8.53 | 6.96 | 8.20 | ||||||
| Janus Short-Term Bond Fund(8,16,17,18) | 9/92 | 3.63 | 2.39 | 2.92 | 4.81 | 4.67 | ||||||
| Janus Federal Tax-Exempt Fund(8,16,17,18.19) | Â | 5/93 | Â | 3.81 | Â | 2.91 | Â | 3.98 | Â | 4.47 | Â | 4.60 |
Notes:
(1) All figures unaudited.
(2) Closed to new investors.
(3) Effective on or about December 31, 2006, Janus Mercury Fund will change its name to "Janus Research Fund." The Fund will continue to be managed with the same investment objective and strategies.
(4) This Fund has been significantly impacted, either positively or negatively, by investing in initial public offerings (IPOs).
(5) This Fund may have significant exposure to emerging markets. In general, emerging market investments have historically been subject to significant gains and/or losses. As such, the Fund's returns and NAV may be subject to such volatility.
(6) Due to certain investment strategies, some funds may have an increased position in cash.
(7) Effective on or about December 31, 2006, Janus Research Fund will change its name to "Janus Global Research Fund" and adopt an additional investment strategy to normally invest at least 40% of its net assets in securities of issuers from different countries located throughout the world, excluding the United States.
(8) The Fund will invest at least 80% of its net assets in the type of securities described by its name.
(9) The Fund held approximately 15.74% of its assets in Indian securities as of June 30, 2006 and the Fund has experienced significant gains due, in part, to its investments in India. While holdings are subject to change without notice, the Fund's returns and NAV may be affected to a large degree by fluctuations in currency exchange rates or political or economic conditions in India.
(10) A 2% redemption fee may be imposed on shares held for 3 months or less. Performance shown does not reflect this redemption fee and, if reflected, performance would have been lower.
(11) For certain periods, the Fund's performance reflects the effect of expense waivers. Without the effect of these expense waivers, the performance shown would have been lower.
(12) Returns have sustained significant gains due to market volatility in the financials sector.
(13) The Fund held approximately 15.1% and 15.37% of its assets in India and Brazil securities, respectively, as of June 30, 2006, and the Fund has experienced significant gains due, in part, to its investments in India and Brazil. While holdings are subject to change without notice, the Fund's returns and NAV may be affected to a large degree by fluctuations in currency exchange rates or political or economic conditions in India and/or Brazil.
(14) Returns shown for Janus Small Cap Value Fund prior to April 21, 2003 are those of Berger Small Cap Value Fund.
(15) Returns shown for Janus Mid Cap Value Fund prior to April 21, 2003 are those of Berger Mid Cap Value Fund.
(16) Bond funds 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 bonds 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.
(17) As of September 30, 2006, the 30-day SEC Yield was 3.90% on Janus Federal Tax-Exempt Fund, 4.68% on Janus Flexible Bond Fund, 7.68% on Janus High-Yield Fund and 4.68% on Janus Short-Term Bond Fund.
(18) Janus Capital has contractually agreed to waive Janus Short-Term Bond Fund and Janus Federal Tax-Exempt Fund's total operating expenses to the levels indicated in the prospectus until at least march 1, 2007. Without such waivers, Janus Short-Term Bond Fund and Janus Federal Tax-Exempt Fund's yield as of September 30, 2006 would have been 4.26% and 3.46%, respectively and total returns would have been lower.
(19) Income may be subject to state or local taxes and to a limited extent certain federal tax. Capital gains are subject to federal, state and local taxes.
Differences between compared investments may include objectives, sales and management fees, liquidity, volatility, tax features and other features, which may result in differences in performance.
A fund's performance may be affected by risks that include those associated with non-diversification, investments in foreign securities and emerging markets, non-investment grade debt securities, undervalued or overlooked companies, companies with relatively small market capitalizations and investments in specific industries or countries. Please see a Janus prospectus or janus.com for more information about fund holdings and details.
112-07-938
