Janus Capital Group Inc. Announces Third Quarter 2009 Results
More News related to JNS
- JMP Starts Investment Service Stocks: BLK, FII at Outperform, LM, BEN, JNS, TROW at Market Perform
- Janus Capital (JNS) Reports Q3 EPS of $0.05
- Janus Capital Group Inc. Announces Third Quarter 2009 Results
- Trading Radar for 10/22: AT&T (T), McDonalds (MCD), Amazon.com (AMZN), 3M (MMM), Dow Chemical (DOW), UPS (UPS) Report
- Keefe, Bruyette & Woods Previews Several Asset Managers
More News related to Press Releases
- Hoku Scientific (HOKU) Amends Poly Deal with Jinko Solar
- American International Group (AIG), Greenberg and Smith Settle Disputes
- Heska (HSKA) Announces Agreements with Roche for Blood Gas Product Supply/Affiliated Consumables
- AIG, Greenberg and Smith to settle all disputes
- DryShips (DRYS) Announces Exercise of Over-Allotment Option by Underwriters, Closes Convertible Senior Notes Offering for Net Proceeds of $448M
------------------------------------------------------
Third Quarter Earnings from Continuing Operations of $0.05 Per Diluted Share
------------------------------------------------------
Long-Term Net Outflows of $0.6 Billion for the Quarter
-------------------------------------------------
79%, 88% And 86% of Firmwide Mutual Funds Outperformed Their Lipper Peer Group Medians for 1-, 3- and 5- Years1
-------------------------------------------------
Successfully Completed Capital Restructuring
DENVER--(BUSINESS WIRE)-- Janus Capital Group Inc. ("JCG") (NYSE: JNS) today reported third quarter net income from continuing operations of $8.2 million, or $0.05 per diluted share, compared with net income from continuing operations of $15.8 million, or $0.10 per diluted share in the second quarter 2009 and net income from continuing operations of $26.0 million, or $0.16 per diluted share, in the third quarter 2008. Third quarter 2009 includes operating charges from legal settlements and severance associated with the former CEO of $20.5 million and $12.1 million, respectively, partially offset by a realized non-operating gain of $5.8 million resulting from the debt tender. The company's operating margin for the third quarter 2009 was 13.0% compared with 23.5% for the second quarter 2009 and 33.9% for the third quarter 2008.
Flows and Assets Under Management
Average assets under management during the third quarter increased 12.9% to $143.1 billion compared with $126.7 billion during the second quarter 2009. At September 30, 2009, the company's total assets under management were $151.8 billion compared with $132.6 billion at June 30, 2009 and $160.5 billion at September 30, 2008. The increase in firmwide assets during the third quarter primarily reflects $20.0 billion of market appreciation and long-term net outflows of $0.6 billion. Janus and Perkins long-term net inflows totaled $1.3 billion and $0.6 billion, respectively, while INTECH long-term net outflows totaled $2.5 billion.
Investment Performance
Relative long-term investment performance remained strong with approximately 79%, 88% and 86% of firmwide mutual funds in the top half of their Lipper categories on a one-, three- and five-year total-return basis, respectively, as of September 30, 2009.2 In addition, 64% of firmwide mutual funds have a 4- or 5-star Overall Morningstar RatingTM at September 30, 2009.3
Janus-managed equity mutual funds continue to outperform the majority of peers with 83%, 94% and 88% of equity mutual funds ranking in the top half of their Lipper categories on a one-, three- and five-year total return basis, respectively, as of September 30, 2009.2
INTECH's relative performance continued to be weak in the short- and intermediate- term, with 0%, 44%, and 63% of strategies outperforming their respective benchmarks over the one-, three- and five-year periods, as of September 30, 2009.
Perkins continues to deliver exceptional investment performance with the Mid Cap Value fund ranked in the top 19% and the Small Cap Value fund ranked in the top 9% of their respective Lipper categories on a one-, three- and five-year total-return basis as of September 30, 2009.4
"During my tenure as interim CEO, I've become more confident than ever that the strength of our performance and the expansion of our distribution efforts position the firm for long-term success," said Tim Armour. "Although the leadership team is mindful of the uncertain operating environment, we believe we've got strong momentum and are committed to building a top tier global firm in the intermediary and institutional channels."
Financial Highlights
(dollars in millions, except per share data or as noted)
Three Months Ended
September 30, June 30, September 30,
2009 2009 2008*
Continuing Operations (Investment
Management)
Average Assets (in billions) $ 143.1 $ 126.7 $ 182.7
Ending AUM (in billions) $ 151.8 $ 132.6 $ 160.5
Revenues $ 227.6 $ 200.2 $ 275.4
Operating Expenses $ 198.0 $ 153.2 $ 182.1
Operating Income $ 29.6 $ 47.0 $ 93.3
Operating Margin 13.0% 23.5% 33.9%
Net Income $ 8.2 $ 15.8 $ 26.0
Diluted Earnings per Share $ 0.05 $ 0.10 $ 0.16
* Net income and diluted earnings per share for third quarter 2008
include an impairment charge of $21.0 million, or $0.08 per share,
related to the Stanfield Victoria Funding LLC securities.
Third quarter 2009 revenues of $227.6 million increased 13.7% from second quarter 2009 from higher average assets under management, driven primarily by improving global markets. Operating expenses were up $44.8 million, or 29.2%, primarily as a result of legal settlements, severance charges and higher revenue-based expenses. Legal settlements totaling $20.5 million were paid in the third quarter 2009 and were primarily related to compensation matters with former employees. JCG is not aware of any additional claims by former employees of a similar nature.
Capital and Liquidity
At September 30, 2009, JCG had stockholders' equity of $978 million, cash and investments of $337 million and $790 million of outstanding debt. During the third quarter 2009, JCG raised approximately $382 million of capital, net of underwriting discounts and commissions, through the concurrent public offering of 20.9 million shares of common stock and $170 million of convertible senior notes due 2014. The combined proceeds of the offerings, together with available cash, were used to repurchase approximately $443 million aggregate principal amount of the Company's outstanding 2011, 2012 and 2017 senior notes in a tender offer. Following the successful completion of the capital raise and debt tender, total long-term debt was reduced by approximately $316 million.
Third Quarter 2009 Earnings Call Information
JCG will discuss its results during a conference call on Thursday, October 22 at 10 a.m. Eastern Daylight Time. The call-in number will be 877-301-7574. Anyone outside the U.S. or Canada should call 706-643-3623. The slides used during the presentation will be available in the investor relations section of the Janus Capital Group Web site (www.janus.com/ir) approximately one hour prior to the call. For those unable to join the conference call at the scheduled time, an audio replay will be available on www.janus.com/ir.
About Janus Capital Group Inc.
Janus Capital Group Inc. (JCG) is a global investment firm offering strategies from three individual investment boutiques: Janus Capital Management LLC (Janus), INTECH Investment Management LLC (INTECH) and Perkins Investment Management LLC (Perkins). Each manager employs a research-intensive approach that is distinct within its respective asset class. This multi-boutique approach enables the firm to provide style-specific expertise across an array of strategies, including growth, value and risk-managed equities, fixed income and alternatives through one common distribution platform.
At the end of September 2009, JCG managed $151.8 billion in assets for shareholders, clients and institutions around the globe. Based in Denver, JCG also has offices in London, Tokyo, Hong Kong and Singapore.
1 Relative performance analysis is based on ratings and rankings for the share class with the longest performance history, Class J, S or I Shares in the Janus retail fund ("JIF") trust, and on Janus Aspen Series ("JAS") Institutional Shares. Complete Lipper rankings are based on total returns and are on pages 9 and 10.
2 Relative performance analysis is based on ratings and rankings for the share class with the longest performance history, Class J, S or I Shares in the Janus retail fund ("JIF") trust, and on Janus Aspen Series ("JAS") Institutional Shares. Complete Lipper rankings are based on total returns and are on pages 9 and 10.
3 Funds included in the analysis reflect the share class with the longest performance history, and include Janus Retail ("JIF") Class J, S and I Shares and Janus Aspen Series ("JAS") Institutional Shares. Morningstar rankings are based on risk-adjusted returns. Complete Morningstar ratings are on pages 11-12.
4 Rankings are for the "JIF" Class J share class only; other classes may have different performance characteristics. See pages 9 and 10 for complete Lipper rankings.
Please consider the charges, risks, expenses and investment objectives carefully before investing. For a prospectus containing this and other information, please call JCG at (800) 525-3713 or download the file from www.janus.com. Read it carefully before you invest or send money.
This presentation should not be considered sales material and is not an offer or a solicitation for any securities.
Data presented reflects past performance, which is no guarantee of future results. Rankings referenced exclude money markets.
Funds distributed by Janus Distributors LLC (10/09).
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", "may increase", "may fluctuate", "forecast" and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements. These statements are based on the beliefs and assumptions of Company management based on information currently available to management.
Various risks, uncertainties, assumptions and factors that could cause future results to differ materially from those expressed by the forward-looking statements included in this press release include, but are not limited to, risks associated with the appointment of a CEO and the Company's ability to identify a permanent CEO and resulting potential disruptions to the Company and its business, and other risks, uncertainties, assumptions and factors specified in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 included under headings such as "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in the Prospectus Supplements, dated July 17, 2009, to the Registration Statement of Form S-3 (Registration No. 333-145310) and in other filings and furnishings made by the Company with the SEC from time to time. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. Many of these factors are beyond the control of the Company and its management. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Except for the Company's ongoing obligations to disclose material information under the federal securities laws, the Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless required by law.
JANUS CAPITAL GROUP INC.
UNAUDITED
CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data or as noted)
Three Months Ended
September 30, June 30, September 30,
2009 2009 2008
Revenues:
Investment management fees $ 185.4 $ 159.8 $ 218.9
Performance fees 7.4 6.5 8.8
Shareowner servicing fees and other 34.8 33.9 47.7
Total 227.6 200.2 275.4
Operating Expenses:
Employee compensation and benefits 85.7 66.2 81.2
Long-term incentive compensation 19.5 14.0 10.7
Marketing and advertising 6.5 8.2 8.0
Distribution 29.2 25.4 36.5
Depreciation and amortization 8.7 8.0 10.1
General, administrative and occupancy 48.4 31.4 35.6
Total 198.0 153.2 182.1
Operating income 29.6 47.0 93.3
Interest expense (18.6 ) (19.7 ) (18.9 )
Investment gains (losses), net 0.9 0.3 (32.3 )
Other income, net 0.1 0.4 1.4
Gain on early extinguishment of debt 5.8 - -
Income tax provision (6.0 ) (8.8 ) (17.2 )
Equity in earnings of unconsolidated - - 2.5
affiliate
Income from Continuing Operations 11.8 19.2 28.8
Loss from Discontinued Operations - - (0.6 )
Net income 11.8 19.2 28.2
Noncontrolling interest (3.6 ) (3.4 ) (2.8 )
Net income attributable to JCG $ 8.2 $ 15.8 $ 25.4
Diluted weighted average shares 176.6 159.0 159.6
outstanding (in millions)
Diluted earnings per share attributable
to JCG common shareholders:
Continuing operations $ 0.05 $ 0.10 $ 0.16
Discontinued operations - - -
Diluted earnings per share $ 0.05 $ 0.10 $ 0.16
Amounts attributable to JCG common
shareholders:
Income from Continuing Operations $ 8.2 $ 15.8 $ 26.0
Loss from Discontinued Operations - - (0.6 )
Net income $ 8.2 $ 15.8 $ 25.4
Average Assets Under Management (in $ 143.1 $ 126.7 $ 182.7
billions)
JANUS CAPITAL GROUP INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in millions)
September 30, December 31,
2009 2008
Assets
Cash and cash equivalents $ 236.4 $ 282.6
Marketable securities 100.5 125.3
Other assets 286.0 236.2
Property and equipment, net 50.5 51.1
Intangibles and goodwill, net 1,777.0 2,641.5
Total Assets $ 2,450.4 $ 3,336.7
Liabilities and Stockholders' Equity
Debt $ 790.2 $ 1,128.0
Other liabilities 294.2 303.8
Deferred income taxes 387.7 388.1
Stockholders' equity 978.3 1,516.8
Total Liabilities and Stockholders' Equity $ 2,450.4 $ 3,336.7
UNAUDITED CONDENSED CASH FLOW INFORMATION
CONTINUING OPERATIONS
(dollars in millions)
Three Months Ended
September 30, June 30, September 30,
Cash provided by (used in): 2009 2009 2008
Operating activities $ 60.9 $ 47.4 $ 87.4
Investing activities 14.4 (0.1 ) 3.3
Financing activities (57.6 ) (60.7 ) (68.8 )
Net change during period $ 17.7 $ (13.4 ) $ 21.9
JANUS CAPITAL GROUP INC.
ASSETS & FLOWS BY INVESTMENT DISCIPLINE
(dollars in billions)
Three Months Ended
September 30, 2009 June 30, 2009 September 30, 2008
Growth/Blend
Beginning of period assets $ 56.4 $ 46.6 $ 81.8
Sales 3.4 3.3 5.5
Redemptions 3.4 2.6 6.0
Net sales (redemptions) - 0.7 (0.5 )
Market / fund performance 8.7 9.1 (15.0 )
End of period assets $ 65.1 $ 56.4 $ 66.2
Global/International
Beginning of period assets $ 14.7 $ 10.7 $ 21.0
Sales 1.2 1.2 0.8
Redemptions 0.7 0.5 1.8
Net sales (redemptions) 0.5 0.7 (1.0 )
Market / fund performance 3.0 3.3 (4.3 )
End of period assets $ 18.2 $ 14.7 $ 15.7
Mathematical/Quantitative
(1)
Beginning of period assets $ 43.8 $ 38.3 $ 61.3
Sales 1.1 1.6 6.2
Redemptions 3.6 1.8 6.0
Net sales (redemptions) (2.5 ) (0.2 ) 0.2
Market / fund performance 6.0 5.7 (6.0 )
End of period assets $ 47.3 $ 43.8 $ 55.6
Fixed Income
Beginning of period assets $ 4.4 $ 3.7 $ 3.7
Sales 1.3 0.9 0.3
Redemptions 0.4 0.5 0.4
Net sales (redemptions) 0.9 0.4 (0.1 )
Market / fund performance 0.3 0.3 (0.1 )
End of period assets $ 5.6 $ 4.4 $ 3.4
Alternatives
Beginning of period assets $ 0.3 $ 0.4 $ 1.2
Sales - - -
Redemptions 0.1 0.1 0.3
Net sales (redemptions) (0.1 ) (0.1 ) (0.3 )
Market / fund performance 0.1 - (0.2 )
End of period assets $ 0.3 $ 0.3 $ 0.8
Value(2)
Beginning of period assets $ 11.0 $ 8.6 $ 10.9
Sales 1.6 1.4 1.9
Redemptions 1.0 0.6 1.3
Net sales (redemptions) 0.6 0.8 0.6
Market / fund performance 1.9 1.6 (0.6 )
End of period assets $ 13.5 $ 11.0 $ 10.9
Money Market
Beginning of period assets $ 2.0 $ 2.6 $ 11.8
Sales 0.2 0.2 28.1
Redemptions 0.4 0.8 32.1
Net sales (redemptions) (0.2 ) (0.6 ) (4.0 )
Market / fund performance - - -
End of period assets $ 1.8 $ 2.0 $ 7.9
Total Company
Beginning of period assets $ 132.6 $ 110.9 $ 191.8
Sales 8.8 8.6 42.8
Redemptions 9.6 6.9 47.9
Net sales (redemptions) (0.8 ) 1.7 (5.1 )
Market / fund performance 20.0 20.0 (26.2 )
End of period assets $ 151.8 $ 132.6 $ 160.5
Total Excluding Money
Market
Beginning of period assets $ 130.6 $ 108.3 $ 179.9
Sales 8.6 8.4 14.7
Redemptions 9.2 6.1 15.8
Net sales (redemptions) (0.6 ) 2.3 (1.1 )
Market / fund performance 20.0 20.0 (26.2 )
End of period assets $ 150.0 $ 130.6 $ 152.7
Each line has been rounded on the schedule individually to increase the accuracy
of the amounts presented. Therefore totals and subtotals may not foot.
Notes:
(1) Represents all assets managed by INTECH
Investment Management LLC.
(2) Represents all assets managed by
Perkins Investment Management LLC.
Janus Investment Fund ("JIF") Lipper Rankings Based on Total Returns as of 9/30/09
1-Year 3-Year 5-Year 10-Year Since PM
Inception
PM Percentile Rank/ Percentile Rank/ Percentile Rank/ Percentile Rank/ Percentile Rank/
Inception Lipper Category Rank (%) Total Rank (%) Total Rank (%) Total Rank (%) Total Rank (%) Total
Funds Funds Funds Funds Funds
Growth Funds - Share Class
Janus Twenty Dec-07 Large-Cap Growth 9 66 / 1 1 / 1 2 / 18 54 / 25 189 /
Fund - J (1) Funds 814 698 582 301 777
Janus Fund - J Oct-07 Large-Cap Growth 23 184 / 33 224 / 27 154 / 68 203 / 39 292 /
Funds 814 698 582 301 762
Janus Forty Dec-07 Large-Cap Growth 14 109 / 1 4 / 1 3 / 2 6 / 42 319 /
Fund -S Funds 814 698 582 301 777
Janus Orion Dec-07 Multi-Cap Growth 44 210 / 7 26 / 4 10 / - - 54 236 /
Fund - J Funds 478 384 320 438
Janus Research Jan-06 Large-Cap Growth 18 143 / 11 70 / 8 46 / 49 147 / 8 53 /
Fund - J Funds 814 698 582 301 663
Janus 304 / 117 / 44 / 153 / 134 /
Enterprise Fund Oct-07 Mid-Cap Growth Funds 63 485 28 427 13 356 88 173 30 459
- J
Janus Venture Jan-97 Small-Cap Growth 14 77 / 29 140 / 22 86 / 65 137 / 23 30 /
Fund - J (1) Funds 568 489 404 212 132
Janus Triton Jun-06 Small-Cap Growth 9 50 / 2 6 / - - - - 1 4 /
Fund - J Funds 568 489 479
INTECH RM Jan-03 Multi-Cap Growth 75 359 / 79 302 / 85 272 / - - 81 236 /
Growth Fund - S Funds 478 384 320 291
Core Funds - Share Class
Janus Growth 11 / 335 / 139 / 146 / 357 /
and Income Fund Nov-07 Large-Cap Core Funds 2 904 45 760 23 626 40 364 44 829
- J
Janus 483 / 144 / 11 / 35 /
Contrarian Fund Feb-00 Multi-Cap Core Funds 63 776 23 637 3 486 - - 17 215
- J
Janus Balanced Apr-05 Mixed-Asset Target 1 1 / 1 1 / 1 1 / 11 15 / 1 1 /
Fund - J Alloc. Mod. Funds 505 390 300 147 333
Janus Research Nov-07 Large-Cap Core Funds 16 137 / 45 340 / 15 94 / 22 78 / 54 447 /
Core Fund - J 904 760 626 364 829
INTECH RM Core Feb-03 Multi-Cap Core Funds 84 652 / 78 494 / 65 312 / - - 49 182 /
Fund - J 776 637 486 373
Global/International Funds - Share Class
Janus Overseas Jun-03 International Funds 1 2 / 1 2 / 1 1 / 3 9 / 1 1 /
Fund - J 1240 924 694 370 613
Janus Worldwide Apr-09 Global Funds 49 262 / 57 212 / 72 208 / 95 143 / ***
Fund - J 537 372 289 151
Janus Global Global 50 / 13 / 15 / 14 / 21 /
Technology Fund Jan-06 Science/Technology 69 72 20 64 25 59 74 18 33 64
- J Funds
Janus Global Global 24 / 6 / 16 / 10 / 6 /
Life Sciences Apr-07 Health/Biotechnology 50 47 15 41 40 39 56 17 14 45
Fund - J Funds
Janus Global 109 / 39 / 14 /
Research Fund - Feb-05 Global Funds 21 537 11 372 - - - - 5 308
J
Janus Global 79 / 92 / 163 / 191 /
Opportunities Apr-05 Global Funds 15 537 25 372 57 289 - - 58 329
Fund - J
Janus 108 / 15 /
International Nov-06 International Funds 9 1240 - - - - - - 2 941
Equity Fund - I
INTECH RM 825 / 528 /
International May-07 International Funds 67 1240 - - - - - - 52 1032
Fund - I
Janus 104 / 559 /
International May-08 International Funds 9 1240 - - - - - - 48 1169
Forty Fund - I
Value Funds - Share Class
Perkins Mid Cap Aug-98 Mid-Cap Value Funds 19 51 / 4 8 / 6 10 / 2 1 / 2 1 /
Value Fund - J 270 225 172 64 53
Perkins Small 54 / 9 / 43 / 35 / 6 /
Cap Value Fund Feb-97 Small-Cap Core Funds 8 735 2 608 9 491 14 252 5 131
- J (1)
INTECH RM Value Dec-05 Multi-Cap Value 80 282 / 57 163 / - - - - 55 140 /
Fund - I Funds 355 285 257
Income Funds - Share Class
Janus Flexible Intermediate 77 / 28 / 31 / 27 / 32 /
Bond Fund - J May-07 Investment Grade 14 556 7 444 9 382 13 211 7 488
Debt Funds
Janus Short Investment 16 / 2 / 3 / 12 / 6 /
Short-Term Bond May-07 Grade Debt Funds 7 256 1 208 2 177 13 92 3 244
Fund - J
Janus High Current Yield 120 / 84 / 71 / 26 / 68 /
High-Yield Fund Dec-03 Funds 27 459 22 383 22 331 13 206 22 316
- J
Alternative Funds - Share Class
Janus Long/Short Equity 54 / 11 / 11 /
Long/Short Fund Aug-06 Funds 46 118 22 50 - - - - 23 47
- I
Janus Global Global Real Estate 2 / 1 /
Real Estate Nov-07 Funds 3 79 - - - - - - 2 70
Fund - I
Asset Allocation Funds - Share Class
Janus SP-Growth Dec-05 Mixed-Asset Targe 6 39 / 5 22 / - - - - 3 13 /
- J Alloc. Growth Funds 665 541 508
Janus Dec-05 Mixed-Asset Target 2 9 / 1 3 / - - - - 3 10 /
SP-Moderate - J Alloc. Mod Funds 505 390 364
Janus Mixed-Asset Targe 16 / 7 / 4 /
SP-Conservative Dec-05 Alloc. Cons Funds 4 437 2 357 - - - - 2 320
- J
Janus Modular
Portfolio Sep-08 Mixed-Asset Targe 27 175 / - - - - - - 42 274 /
Construction Alloc. Growth Funds 665 656
Fund - I
Data presented reflects past performance, which is no guarantee of future results.
Lipper, a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Lipper ranks the performance of mutual funds within a classification of funds that have similar investment objectives. Rankings are historical with capital gains and dividends reinvested and do not include the effect of loads. If an expense waiver was in effect, it may have had a material effect on the total return or yield for the period.
Notes:
(1) Closed to new investors.
*** In accordance with FINRA
regulations, Lipper rankings cannot be publicly disclosed for time
periods of less than one year.
Janus Aspen Series ("JAS") Institutional Shares Lipper Rankings Based on Total Returns as of 9/30/09
1-Year 3-Year 5-Year 10-Year Since PM
Inception
PM Percentile Rank/ Percentile Rank/ Percentile Rank/ Percentile Rank/ Percentile Rank/
Inception Lipper Category Rank (%) Total Rank (%) Total Rank (%) Total Rank (%) Total Rank (%) Total
Funds Funds Funds Funds Funds
Growth Funds
Forty Portfolio Jan-08 VA Large-Cap Growth 87 206 / 1 1 / 1 1 / 3 2 / 31 70 /
236 213 192 76 229
Janus Portfolio Oct-07 VA Large-Cap Growth 37 86 / 32 68 / 58 111 / 62 47 / 36 80 /
236 213 192 76 224
Enterprise Portfolio Oct-07 VA Mid-Cap Growth 59 80 / 12 15 / 9 9 / 73 31 / 23 29 /
136 124 111 42 129
Core Funds
Balanced Portfolio Apr-05 VA Mixed-Asset 2 3 / 1 1 / 3 2 / 13 6 / 2 1 /
Target Alloc. Mod. 185 120 78 47 95
Growth and Income Nov-07 VA Large-Cap Core 21 48 / 30 62 / 14 24 / 11 9 / 17 37 /
Portfolio 230 207 182 87 221
Fundamental Equity Nov-07 VA Large-Cap Core 65 149 / 56 116 / 15 27 / 16 14 / 53 117 /
Portfolio 230 207 182 87 221
Global/International
Funds
Worldwide Growth Apr-09 VA Global 29 36 / 39 34 / 82 60 / 87 31 / 0
Portfolio 125 88 73 35
International Growth Jun-03 VA International 4 10 / 1 2 / 1 1 / 3 2 / 1 1 /
Portfolio 275 232 193 97 185
Global Life Sciences Oct-04 VA 95 36 / 43 15 / 19 6 / - - 16 5 /
Portfolio Health/Biotechnology 37 34 31 31
Global Technology Jan-06 VA Science & 37 21 / 26 14 / 16 8 / - - 28 15 /
Portfolio Technology 57 54 52 54
Value Funds
Perkins Mid Cap May-03 VA Mid-Cap Value 6 4 / 2 1 / 2 1 / - - 2 1 /
Value Portfolio 76 63 52 49
Income Funds
Flexible Bond VA Intermediate 7 / 11 / 11 / 5 / 9 /
Portfolio May-07 Investment Grade 10 73 17 67 19 60 18 28 13 69
Debt
Rankings are for the Institutional Shares only; other classes may have different performance characteristics.
Data presented reflects past performance, which is no guarantee of future results.
Lipper, a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Lipper ranks the performance of mutual funds within a classification of funds that have similar investment objectives. Rankings are historical with capital gains and dividends reinvested and do not include the effect of loads. If an expense waiver was in effect, it may have had a material effect on the total return or yield for the period.
Rankings are for the Institutional Shares only; other classes may have different performance characteristics.
Note:
*** In accordance with FINRA regulations, Lipper rankings cannot be publicly disclosed for time periods of less than one year.
The Overall Morningstar RatingTMis derived from a
Janus Investment Fund ("JIF") weighted average of the performance figures associated
with its three-, five-, and ten-year (if applicable)
Morningstar RatingTMmetrics.
Overall Three-Year Five-Year Ten-Year
Rating Rating Rating Rating
Fund - Share Category Stars # of Stars # of Stars # of Stars # of
Class Funds Funds Funds Funds
Janus Twenty Large Growth 4 1515 5 1515 5 1255 3 653
- J(1) Funds
Janus - J Large Growth 3 1515 4 1515 3 1255 2 653
Funds
Janus Forty - Large Growth 5 1515 5 1515 5 1255 4 653
S Funds
Janus Large Growth 3 1515 4 1515 4 1255 2 653
Research - J Funds
Janus Mid-Cap Growth
Enterprise - Funds 2 750 3 750 4 638 1 324
J
Janus Venture Small Growth 3 670 3 670 3 555 2 308
- J(1) Funds
Janus Growth Large Growth 3 1515 2 1515 3 1255 4 653
& Income - J Funds
Janus Moderate 5 956 5 956 5 795 4 455
Balanced - J Allocation Funds
Janus Large Growth
Research Core Funds 4 1515 2 1515 4 1255 4 653
- J
Janus Foreign Large 5 202 5 202 5 153 4 81
Overseas - J Growth Funds
Janus World Stock Funds 2 536 3 536 2 440 1 253
Worldwide - J
Janus Global
Technology - Technology Funds 4 202 4 202 4 190 4 79
J
Janus Global
Life Sciences Health Funds 3 151 3 151 3 143 2 59
- J
Perkins Mid Mid-Cap Value 5 338 5 338 5 248 5 87
Cap Value - J Funds
Perkins Small
Cap Value - J Small Value Funds 5 318 5 318 5 242 4 124
(1)
Janus Intermediate-Term
Flexible Bond Bond Funds 5 954 5 954 5 836 4 480
- J
Janus Short-Term Bond
Short-Term Funds 5 351 5 351 5 303 4 161
Bond - J
Janus High Yield Bond
High-Yield - Funds 5 466 4 466 4 400 5 257
J
Janus Orion - Mid-Cap Growth 4 750 3 750 4 638 N/A
J Funds
INTECH Large Growth
Risk-Managed Funds 2 1515 2 1515 2 1255 N/A
Growth - S
Janus
Contrarian - Large Blend Funds 4 1704 2 1704 5 1352 N/A
J
INTECH
Risk-Managed Large Blend Funds 3 1704 3 1704 3 1352 N/A
Core - J
Janus Global
Opportunities World Stock Funds 3 536 4 536 3 440 N/A
- J
Janus Triton Small Growth 5 670 5 670 N/A N/A
- J Funds
Janus Global World Stock Funds 4 536 4 536 N/A N/A
Research - J
INTECH
Risk-Managed Large Value Funds 3 1133 3 1133 N/A N/A
Value - I
Janus
Long/Short - Long-Short Funds 3 110 3 110 N/A N/A
I
Janus Smart
Portfolio Conservative 5 499 5 499 N/A N/A
Conservative Allocation Funds
- J
Janus Smart Moderate
Portfolio Allocation Funds 4 956 4 956 N/A N/A
Growth - J
Janus Smart Moderate
Portfolio Allocation Funds 5 956 5 956 N/A N/A
Moderate - J
Janus Foreign Large
International Growth Funds N/A N/A N/A N/A
Equity - I
INTECH Foreign Large
Risk-Managed Blend Funds N/A N/A N/A N/A
Intl - I
Janus Foreign Large
International Growth Funds N/A N/A N/A N/A
Forty - I
Janus Global Global Real
Real Estate - Estate Funds N/A N/A N/A N/A
I
Janus Modular
Portfolio Moderate N/A N/A N/A N/A
Construction Allocation Funds
- I
Percent of
funds rated 4 60.0% 60.0% 65.2% 61.1%
or 5 Stars
Data presented reflects past performance, which is no guarantee of future results. (C) 2009 Morningstar, Inc. All Rights Reserved.
Notes:
(1) Closed to new investors.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating TM 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. (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 Overall Morningstar RatingTMis derived from a
Janus Aspen Series ("JAS") weighted average of the performance figures associated
Institutional Shares with its three-, five-, and ten-year (if applicable)
Morningstar RatingTMmetrics.
Overall Three-Year Five-Year Ten-Year
Rating Rating Rating Rating
Fund Category Stars # of Stars # of Stars # of Stars # of
Funds Funds Funds Funds
Balanced Moderate 5 956 5 956 5 795 5 455
Fund Allocation Funds
Flexible Intermediate-Term 5 954 5 954 5 836 5 480
Bond Fund Bond Funds
Forty Fund Large Growth 5 1515 5 1515 5 1255 4 653
Funds
Research Large Growth 4 1515 2 1515 4 1255 4 653
Core Fund Funds
Growth & Large Growth
Income Funds 4 1515 3 1515 4 1255 4 653
Fund
Overseas Foreign Large 5 202 5 202 5 153 5 81
Fund Growth Funds
Worldwide World Stock Funds 2 536 3 536 2 440 2 253
Fund
Janus Fund Large Growth 3 1515 4 1515 4 1255 2 653
Funds
Enterprise Mid-Cap Growth 3 750 3 750 4 638 2 324
Fund Funds
Global
Life Health Funds 4 151 3 151 4 143 N/A
Sciences
Fund
Global
Technology Technology Funds 4 202 3 202 4 190 N/A
Fund
Perkins Mid-Cap Value
Mid Cap Funds 5 338 5 338 5 248 N/A
Value Fund
Percent of funds rated 4 or 5 75.0% 50.0% 91.7% 66.7%
Stars
Data presented reflects past performance, which is no guarantee of future results. (C) 2009 Morningstar, Inc. All Rights Reserved.
Ratings are for Institutional Shares only; other classes may have different performance characteristics.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating TM 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. (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.)
Source: Janus Capital Group Inc.
Related Categories
Press ReleasesStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
