MUTUAL FUNDS

What most investors do in building a diversified portfolio – allocating resources across various asset classes based on a risk/reward target and rebalancing periodically – INTECH does at the stock level. INTECH’s process overweights stocks with low correlations and high relative price movements in an attempt to maximize the gains captured through dynamic portfolio rebalancing.

INTECH Global Income Managed Volatility Fund
INTECH U.S. Core Fund
INTECH U.S. Managed Volatility Fund
INTECH International Managed Volatility Fund
INTECH Emerging Markets Managed Volatility Fund

INTECH International Managed Volatility Fund

Inception Date: May 2, 2007

PERFORMANCE
As of 02/24/2017As of 01/31/2017As of 12/31/2016As of 12/31/2016Annualized Returns as of 01/31/2017Annualized Returns as of 12/31/2016Since
Fund
Inception
Calendar YTD1 Month3 MonthQuarter Ending1 Year3 Year5 Year10 Year
INTECH International Managed Volatility Fund - Inception Date: (05/02/2007)
I Shares6.16%4.93%-1.33%-0.69%-8.28%-8.28%4.80%-4.25%0.35%-1.89%7.15%6.92%--0.62%0.12%
MSCI EAFE Index5.01%2.90%3.42%4.30%-0.71%-0.71%12.03%1.00%0.71%-1.60%6.04%6.53%---0.10%-0.10%
Annual Expense Ratio as of fiscal year-end 06/30/2016: Gross: 0.87% / Net: 0.87%

Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/17.

INTECH's focus on managed volatility may keep the Fund from achieving excess returns over its index. The strategy may underperform during certain periods of up markets, and may not achieve the desired level of protection in down markets.

Performance for Class I Shares prior to 7/6/09 reflects the performance of one or more similar share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details concerning historical performance.

Returns greater than one year are annualized.

Returns include reinvestment of dividends and capital gains.

Mutual fund investing involves market risk. Investment return and fund share value will fluctuate and it is possible to lose money by investing.

The weighting of securities within the Fund's portfolio may differ significantly from the weightings within the index. The index is unmanaged and not available for direct investment; therefore its performance does not reflect the expenses associated with the active management of an actual portfolio.

MSCI EAFE® (Europe, Australasia, Far East) Index is a free float-adjusted market capitalization weighted index designed to measure developed market equity performance. The MSCI EAFE® Index is composed of companies representative of the market structure of Developed Market countries. The index includes reinvestment of dividends, net of foreign withholding taxes.

INTECH Investment Management LLC is a subsidiary of Janus Capital Group Inc. and serves as the sub-adviser on certain products.

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