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 U.S. Core Fund

Inception Date: February 28, 2003

PERFORMANCE
As of 05/19/2017As of 04/30/2017As of 03/31/2017As of 03/31/2017Annualized Returns as of 04/30/2017Annualized Returns as of 03/31/2017Since
Fund
Inception
Calendar YTD1 Month3 MonthQuarter Ending1 Year3 Year5 Year10 Year
INTECH U.S. Core Fund - Inception Date: (02/28/2003)
I Shares8.74%1.13%0.46%4.46%6.39%6.39%16.72%13.98%9.85%9.38%13.37%13.18%7.12%7.33%10.34%10.32%
S&P 500 Index7.24%1.03%0.12%5.16%6.07%6.07%17.92%17.17%10.47%10.37%13.68%13.30%7.15%7.51%9.86%9.84%
Annual Expense Ratio as of fiscal year-end 06/30/2016: Gross: 0.68% / Net: 0.68%

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.

Subject to shareholder approval, the Fund is expected to merge into a similar fund. See the prospectus for further details.

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.

This Fund has a performance-based management fee that may adjust up or down based on the Fund's 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.

Closed to certain new investors.

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.

S&P 500® Index is a commonly recognized, market capitalization weighted index of 500 widely held equity securities, designed to measure broad U.S. equity performance.

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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