Perkins Mid Cap Value Fund* (JMVAX)

Data as of 6/30/2015 unless otherwise noted

Fund Overview

Defensive mid-cap value
  • Diversified portfolios of what we believe are high-quality, undervalued stocks
  • Disciplined valuation process measures downside risk before upside potential
  • Established and experienced investment team


Inception: Aug 12, 1998
Calendar YTD
1 Year
3 Year
5 Year
10 Year
Since Fund Inception
Class I Shares
-1.40% 0.40% 13.00% 11.79% 7.71% 11.84%
Russell MidCap® Value Index 0.41% 3.67% 19.13% 17.73% 8.89% 9.90%

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.

Portfolio Analysis

As of 5/31/2015

Top Holdings

% of Fund

View All Holdings (PDF)

Fifth Third Bancorp 2.40%
Laboratory Corp of America Holdings 2.38%
Marsh & McLennan Cos Inc 2.12%
Casey's General Stores Inc 2.09%
Zions Bancorporation 2.06%
PPL Corp 2.03%
Allstate Corp 2.00%
Torchmark Corp 1.96%
Alliant Energy Corp 1.89%
Agilent Technologies Inc 1.85%
TOTAL 20.78%
As of 5/31/2015

Asset Allocation

% of Fund
Asset Allocation Chart
US Common Stock 93.09%
Non-US Common Stock 1.94%
Cash & Equivalents 4.97%
Total 100.00%
As of 5/31/2015

Sector Overweight/Underweight vs. Russell Midcap Value Index


Absolute Weight

Financials 30.32
Industrials 15.45
Health Care 11.46
Information Technology 9.62
Consumer Staples 8.92
Energy 6.10
Utilities 5.85
Materials 4.14
Consumer Discretionary 3.17
Cash & Equivalents 4.97
As of 5/31/2015

Top Contributors/Detractors

Casey's General Stores Inc
Zoetis Inc
Analog Devices Inc
Marsh & McLennan Cos Inc
Zimmer Holdings Inc
Canadian Pacific Railway Ltd
Anadarko Petroleum Corp
Western Gas Partners LP
Noble Energy Inc
Tidewater Inc


Thomas M. Perkins

Joined Perkins 1998
Tenure on fund: Since 1998

Kevin Preloger

Joined Perkins 2002
Tenure on fund: Since 2013

Justin Tugman

Joined Perkins 2004
Tenure on fund: Since 2015

Overall Morningstar Rating™ (As of 5/31/2015)

2 of 5 stars

of 433

Mid-Cap Value Funds

View detailed ratings

As of 5/31/2015

Fund Facts 

Inception 08/12/1998
Strategy AUM (as of 05/31/2015) $6B
Total Number of Equity Issues 88
Weighted Average Market Capitalization
($ billion)
$ 13.18
Median Market Capitalization ($ billion) $ 9.01
Annual Expense Ratios (as of fiscal year-end 06/30/2014)
        Gross .63%
        Net .63%

Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus, or if available, a summary prospectus containing this and other information. Read it carefully before you invest or send money.

Returns quoted reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/15.

* Perkins Mid Cap Value Fund is closed to certain new investors.

Class I Shares of the Fund commenced operations on 7/6/09. The historical performance shown for periods prior to 7/6/09 was calculated using the performance and the fees and expenses of one or more other share classes of the Fund or a predecessor fund, accounting for, when applicable and permitted, any fee and expense limitations and waivers. If Class I Shares of the Fund had been available during periods prior to 7/6/09, the performance shown may have been different. Please refer to the Fund's prospectus for further details concerning historical performance.

Returns include reinvestment of dividends and capital gains.

Holdings are subject to change without notice.

© 2015 Morningstar, Inc. All Rights Reserved.

Past performance is no guarantee of future results. Visit funds for current month-end performance.

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


Only eligible investors may purchase Class D Shares. See the prospectus for eligibility requirements and other available share classes.

For Lipper Best Individual Funds, the calculation periods extend over 36, 60 and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over 3, 5 or 10 years as of 12/31/12 and no other time periods. 55 Global Multi-Cap Value Funds were eligible for this award for the 5-year period.


Ratings and/or rankings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Janus. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund[s]. The rating/rankings are displayed for informational purposes only and should not be relied upon when making investment decisions.

Ratings and Rankings are for the share class shown only; other classes may have different performance characteristics.

This fund may have securities on loan as of the most recent month-end. The fund invests any cash collateral received in connection with loaned securities in Janus Cash Collateral Fund. View holdings for Janus Cash Collateral Fund.

A Fund's portfolio may differ significantly from the securities held in 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.

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

Statistics shown are for the Fund's initial share class, Class T Shares. Different share classes may not be eligible for purchase and may include different sales and management fees, which can result in differences in performance and characteristics.

When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the ranking <and/or rating> for the period.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Morningstar Rating™ may differ among share classes of a mutual fund as a result of different sales loads and/or expense structures. It may be based, in part, on the performance of a predecessor Fund.

Funds distributed by Janus Distributors LLC

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