Janus Henderson Mid Cap Value Fund

The Janus Henderson Mid Cap Value Fund primarily targets equity securities of medium-sized companies that its portfolio managers believe are trading below their intrinsic value. A fundamental aspect of its investment policy requires that at least 80% of its net assets (including any capital borrowed for investment purposes) be deployed into shares of companies whose market capitalization, at the time of acquisition, aligns with the range delineated by the Russell Midcap® Value Index. Nevertheless, under normal operating conditions, the fund maintains the discretion to allocate up to 20% of its net assets to companies with market capitalizations outside of these specified mid-cap parameters.