Janus Henderson Small Cap Value Fund

This fund aims to achieve its investment objectives by primarily acquiring common shares of smaller enterprises that its management team believes are trading at a discount to their inherent worth. Under typical market conditions, a significant portion—at least 80%—of the fund's net assets (including any leverage) is dedicated to equity holdings of these small companies. The definition of a "small company" for this fund is based on its market capitalization at the time of purchase, which must be below the 12-month average of the maximum market capitalization observed among companies listed in the Russell 2000® Value Index. The portfolio also maintains the flexibility to hold up to 20% of its net assets in cash or highly liquid equivalents.