Janus Henderson Mid Cap Value Fund

The Janus Henderson Mid Cap Value Fund primarily seeks investment opportunities in mid-sized companies whose stock prices, in the view of its portfolio managers, are currently undervalued. A significant portion of the fund's capital, specifically at least 80% of its net assets (which includes any borrowed funds for investing purposes), is allocated to equity securities of businesses whose market capitalization, at the time of purchase, falls within the range defined by the Russell Midcap® Value Index. Under typical circumstances, the fund maintains the discretion to invest up to 20% of its net assets in companies whose market capitalizations lie beyond these specified mid-cap parameters.