**Exhibit 99.1**

 

**JanusInvestment Fund (“JIF”)**

 
| ** **                                | ** ** | ** **    | ** ** | ** **                                 | ** ** | **Lipper Rankings Based on Total Returns as of  6/30/09** | ** ** |
|-------------------------------------------|------------|---------------|------------|--------------------------------------------|------------|-----------------------------------------------------------|------------|
| ** **                                | ** ** | ** **    | ** ** | ** **                                 | ** ** | **1-Year**                                                | ** ** | **3-Year** | ** ** | **5-Year** | ** ** | **10-Year** | ** ** | **Since PM Inception** | ** ** |
| ** **                                | ** ** | **PM**        | ** ** | ** **                                 | ** ** | **Percentile**                                            | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** |
| ** **                                | ** ** | **Inception** | ** ** | **Lipper  Category**                       | ** ** | **Rank  (%)**                                             | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** |
| **Growth  Funds**                         |       |          |       |                                       | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Janus Twenty Fund (1)                     |       | Jan-08        |       | Large-Cap Growth Funds                     | ** ** | **81**                                                    | ** ** | **681 /  841** | ** ** | **1** | ** ** | **1 / 717** | ** ** | **1** | ** ** | **2 / 602** | ** ** | **12** | ** ** | **36 /  313** | ** ** | **26** | ** ** | **209 /  815** | ** ** |
| Janus Fund                                |       | Oct-07        |       | Large-Cap Growth Funds                     | ** ** | **42**                                                    | ** ** | **347 /  841** | ** ** | **35** | ** ** | **250 /  717** | ** ** | **49** | ** ** | **294 /  602** | ** ** | **65** | ** ** | **201 /  313** | ** ** | **46** | ** ** | **365 /  799** | ** ** |
| Janus Orion Fund                          |       | Dec-07        |       | Multi-Cap Growth Funds                     | ** ** | **90**                                                    | ** ** | **409 /  458** | ** ** | **20** | ** ** | **71 /  365** | ** ** | **3** | ** ** | **9 / 306** | ** ** | **—** | ** ** | **—** | ** ** | **75** | ** ** | **324 /  434** | ** ** |
| Janus Research Fund                       |       | Jan-06        |       | Large-Cap Growth Funds                     | ** ** | **57**                                                    | ** ** | **473 /  841** | ** ** | **13** | ** ** | **89 /  717** | ** ** | **9** | ** ** | **53 /  602** | ** ** | **37** | ** ** | **114 /  313** | ** ** | **14** | ** ** | **92 /  693** | ** ** |
| Janus Enterprise Fund                     |       | Oct-07        |       | Mid-Cap Growth Funds                       | ** ** | **46**                                                    | ** ** | **238 /  522** | ** ** | **16** | ** ** | **71 /  457** | ** ** | **10** | ** ** | **37 /  376** | ** ** | **77** | ** ** | **137 /  179** | ** ** | **26** | ** ** | **128 /  496** | ** ** |
| Janus Venture Fund (1)                    |       | Jan-01        |       | Small-Cap Growth Funds                     | ** ** | **24**                                                    | ** ** | **138 /  578** | ** ** | **18** | ** ** | **86 /  498** | ** ** | **24** | ** ** | **97 /  412** | ** ** | **60** | ** ** | **127 /  214** | ** ** | **22** | ** ** | **64 /  291** | ** ** |
| Janus Triton Fund                         |       | Jun-06        |       | Small-Cap Growth Funds                     | ** ** | **4**                                                     | ** ** | **19 /  578** | ** ** | **2** | ** ** | **5 / 498** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **5 / 498** | ** ** |
|                                      |       |          |       |                                       | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core  Funds**                           |       |          |       |                                       |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Growth and Income  Fund             |       | Nov-07        |       | Large-Cap Core Funds                       | ** ** | **40**                                                    | ** ** | **370 /  936** | ** ** | **57** | ** ** | **458 /  809** | ** ** | **25** | ** ** | **163 /  673** | ** ** | **29** | ** ** | **107 /  379** | ** ** | **38** | ** ** | **332 /  890** | ** ** |
| Janus Contrarian Fund                     |       | Feb-00        |       | Multi-Cap Core Funds                       | ** ** | **88**                                                    | ** ** | **661 /  755** | ** ** | **17** | ** ** | **102 /  610** | ** ** | **3** | ** ** | **12 /  454** | ** ** | **—** | ** ** | **—** | ** ** | **16** | ** ** | **32 /  203** | ** ** |
| Janus Balanced Fund                       |       | Apr-05        |       | Mixed-Asset Target Alloc. Mod. Funds       | ** ** | **3**                                                     | ** ** | **11 /  524** | ** ** | **1** | ** ** | **3 / 388** | ** ** | **2** | ** ** | **3 / 295** | ** ** | **11** | ** ** | **15 /  147** | ** ** | **1** | ** ** | **2 / 342** | ** ** |
| Janus Fundamental Equity  Fund            |       | Nov-07        |       | Large-Cap Core Funds                       | ** ** | **70**                                                    | ** ** | **647 /  936** | ** ** | **64** | ** ** | **516 /  809** | ** ** | **18** | ** ** | **117 /  673** | ** ** | **19** | ** ** | **71 /  379** | ** ** | **63** | ** ** | **560 /  890** | ** ** |
| INTECH Risk-Managed  Stock Fund           |       | Feb-03        |       | Multi-Cap Core Funds                       | ** ** | **53**                                                    | ** ** | **396 /  755** | ** ** | **68** | ** ** | **414 /  610** | ** ** | **46** | ** ** | **205 /  454** | ** ** | **—** | ** ** | **—** | ** ** | **45** | ** ** | **164 /  366** | ** ** |
|                                      |       |          |       |                                       | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International  Funds**           |       |          |       |                                       |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Overseas Fund                       |       | Jun-03        |       | International Funds                        | ** ** | **8**                                                     | ** ** | **90 /  1237** | ** ** | **1** | ** ** | **8 / 935** | ** ** | **1** | ** ** | **1 / 711** | ** ** | **3** | ** ** | **9 / 378** | ** ** | **1** | ** ** | **1 / 643** | ** ** |
| Janus Worldwide Fund                      |       | Apr-09        |       | Global Funds                               | ** ** | **19**                                                    | ** ** | **96 /  524** | ** ** | **45** | ** ** | **170 /  381** | ** ** | **69** | ** ** | **201 /  294** | ** ** | **87** | ** ** | **132 / 152** | ** ** | ** ** | **‡** | ** ** | ** ** |
| Janus Global Life  Sciences Fund          |       | Apr-07        |       | Global Healthcare/Biotechnology Funds      | ** ** | **72**                                                    | ** ** | **36 / 49** | ** ** | **45** | ** ** | **20 / 44** | ** ** | **49** | ** ** | **21 / 42** | ** ** | **25** | ** ** | **4 / 15** | ** ** | **16** | ** ** | **8 / 49** | ** ** |
| Janus Global Technology  Fund             |       | Jan-06        |       | Global Science & Technology Funds | ** ** | **33**                                                    | ** ** | **26 / 78** | ** ** | **22** | ** ** | **16 / 73** | ** ** | **27** | ** ** | **18 / 67** | ** ** | **46** | ** ** | **10 / 21** | ** ** | **28** | ** ** | **20 / 73** | ** ** |
| Janus Global Research  Fund               |       | Feb-05        |       | Global Funds                               | ** ** | **51**                                                    | ** ** | **264 /  524** | ** ** | **10** | ** ** | **38 /  381** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **6** | ** ** | **18 /  318** | ** ** |
| Janus Global  Opportunities Fund          |       | Apr-09        |       | Global Funds                               | ** ** | **6**                                                     | ** ** | **31 /  524** | ** ** | **24** | ** ** | **88 /  381** | ** ** | **61** | ** ** | **179 /  294** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | **‡** | ** ** | ** ** |
|                                      |       |          |       |                                       | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value  Funds**                          |       |          |       |                                       |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Perkins Mid Cap Value  Fund – Inv(1) |       | Aug-98        |       | Mid-Cap Value Funds                        | ** ** | **16**                                                    | ** ** | **45 /  291** | ** ** | **4** | ** ** | **8 / 235** | ** ** | **3** | ** ** | **5 / 179** | ** ** | **2** | ** ** | **1 / 63** | ** ** | **2** | ** ** | **1 / 52** | ** ** |
| Perkins Small Cap Value  Fund - Inv*(1)   |       | Feb-97        |       | Small-Cap Core Funds                       | ** ** | **1**                                                     | ** ** | **6 / 768** | ** ** | **2** | ** ** | **7 / 617** | ** ** | **10** | ** ** | **46 /  503** | ** ** | **14** | ** ** | **33 /  242** | ** ** | **5** | ** ** | **6 / 130** | ** ** |
|                                      |       |          |       |                                       | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income  Funds**                         |       |          |       |                                       |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Flexible Bond Fund                  |       | May-07        |       | Intermediate Investment Grade Debt         | ** ** | **6**                                                     | ** ** | **29 /  566** | ** ** | **6** | ** ** | **26 /  462** | ** ** | **6** | ** ** | **23 /  395** | ** ** | **21** | ** ** | **44 /  210** | ** ** | **7** | ** ** | **35 /  511** | ** ** |
| Janus High-Yield Fund                     |       | Dec-03        |       | High Current Yield Funds                   | ** ** | **8**                                                     | ** ** | **35 /  462** | ** ** | **19** | ** ** | **74 /  392** | ** ** | **18** | ** ** | **60 /  333** | ** ** | **10** | ** ** | **20 /  202** | ** ** | **18** | ** ** | **55 /  322** | ** ** |
| Janus Short-Term Bond  Fund               |       | May-07        |       | Short Investment Grade Debt                | ** ** | **1**                                                     | ** ** | **1 / 255** | ** ** | **2** | ** ** | **3 / 210** | ** ** | **3** | ** ** | **4 / 175** | ** ** | **9** | ** ** | **8 / 90** | ** ** | **3** | ** ** | **7 / 248** | ** ** |
|                                      |       |          |       |                                       | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Asset  Allocation Funds**               |       |          |       |                                       |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Janus Smart  Portfolio-Growth             |       | Dec-05        |       | Mixed-Asset Target Alloc. Growth Funds     | ** ** | **63**                                                    | ** ** | **414 /  661** | ** ** | **7** | ** ** | **35 /  536** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **6** | ** ** | **29 /  521** | ** ** |
| Janus Smart  Portfolio-Moderate           |       | Dec-05        |       | Mixed-Asset Target Alloc. Mod. Funds       | ** ** | **24**                                                    | ** ** | **121 /  524** | ** ** | **3** | ** ** | **8 / 388** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **5** | ** ** | **16 /  376** | ** ** |
| Janus Smart  Portfolio-Conservative       |       | Dec-05        |       | Mixed-Asset Target Alloc. Cons. Funds      | ** ** | **20**                                                    | ** ** | **83 /  422** | ** ** | **3** | ** ** | **9 / 345** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **6 / 314** | ** ** |

 

Please considerthe charges, risks, expenses and investment objectives carefully beforeinvesting. For a prospectus containing this and other information, please callJanus at 1-800-525-1068 or download the file from janus.com. Read it carefullybefore you invest or send money.

 

Lipper Inc. — AReuters Company, is a nationally recognized organization that ranks theperformance of mutual funds within a universe of funds that have similarinvestment objectives.  Rankings arehistorical with capital gains and dividends reinvested. If an expense waiverwas in effect, it may have had a material effect on the total return or yieldfor the period.

 

Data presentedreflects past performance, which is no guarantee of future results.

 

----

Notes:

 

(1)          Closed to newinvestors.

 

----

 

**Janus Adviser Series (“JAD”)Class S Shares**

 
| ** **                              | ** ** | ** **    | ** ** | ** **                           | ** ** | **Lipper Rankings Based on Total Returns as of  6/30/09** | ** ** |
|-----------------------------------------|------------|---------------|------------|--------------------------------------|------------|-----------------------------------------------------------|------------|
| ** **                              | ** ** | ** **    | ** ** | ** **                           | ** ** | **1-Year**                                                | ** ** | **3-Year** | ** ** | **5-Year** | ** ** | **10-Year** | ** ** | **Since PM Inception** | ** ** |
| ** **                              | ** ** | **PM**        | ** ** | ** **                           | ** ** | **Percentile**                                            | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** |
| ** **                              | ** ** | **Inception** | ** ** | **Lipper  Category**                 | ** ** | **Rank  (%)**                                             | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** |
| **Growth  Funds**                       | ** ** | ** **    |       | * *                             | * *   | * *                                                  | * *   | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * |
| Forty Fund                              |       | Jan-08        |       | Large-Cap Growth Funds               | ** ** | **86**                                                    | ** ** | **720 /  841** | ** ** | **1** | ** ** | **4 / 717** | ** ** | **1** | ** ** | **3 / 602** | ** ** | **2** | ** ** | **6 / 313** | ** ** | **43** | ** ** | **346 /  815** | ** ** |
| Mid Cap Growth Fund                     |       | Oct-07        |       | Mid-Cap Growth Funds                 | ** ** | **36**                                                    | ** ** | **187 /  522** | ** ** | **10** | ** ** | **45 /  457** | ** ** | **6** | ** ** | **21 /  376** | ** ** | **75** | ** ** | **135 /  179** | ** ** | **19** | ** ** | **94 /  496** | ** ** |
| Large Cap Growth Fund                   |       | Oct-07        |       | Large-Cap Growth Funds               | ** ** | **41**                                                    | ** ** | **343 /  841** | ** ** | **42** | ** ** | **301 /  717** | ** ** | **56** | ** ** | **335 /  602** | ** ** | **53** | ** ** | **166 /  313** | ** ** | **45** | ** ** | **357 /  799** | ** ** |
| INTECH Risk-Managed  Growth Fund        |       | Jan-03        |       | Multi-Cap Growth Funds               | ** ** | **60**                                                    | ** ** | **274 /  458** | ** ** | **70** | ** ** | **254 /  365** | ** ** | **82** | ** ** | **251 /  306** | ** ** | **—** | ** ** | **—** | ** ** | **80** | ** ** | **221 /  277** | ** ** |
| Orion Fund                              |       | Dec-07        |       | Mid-Cap Growth Funds                 | ** ** | **55**                                                    | ** ** | **285 /  522** | ** ** | **11** | ** ** | **49 / 457** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **54** | ** ** | **272 /  503** | ** ** |
| Small-Mid Growth Fund                   |       | Jun-06        |       | Small-Cap Growth Funds               | ** ** | **5**                                                     | ** ** | **26 /  578** | ** ** | **2** | ** ** | **9 / 498** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **9 / 498** | ** ** |
|                                    |       |          |       |                                 | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core  Funds**                         |       |          |       |                                 |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balanced Fund                           |       | Apr-05        |       | Mixed-Asset Target Alloc. Mod. Funds | ** ** | **3**                                                     | ** ** | **12 /  524** | ** ** | **2** | ** ** | **4 / 388** | ** ** | **2** | ** ** | **4 / 295** | ** ** | **10** | ** ** | **14 /  147** | ** ** | **1** | ** ** | **3 / 342** | ** ** |
| Growth and Income Fund                  |       | Nov-07        |       | Large-Cap Core Funds                 | ** ** | **64**                                                    | ** ** | **597 /  936** | ** ** | **76** | ** ** | **610 /  809** | ** ** | **42** | ** ** | **279 /  673** | ** ** | **21** | ** ** | **77 /  379** | ** ** | **63** | ** ** | **557 /  890** | ** ** |
| Fundamental Equity Fund                 |       | Nov-07        |       | Large-Cap Core Funds                 | ** ** | **71**                                                    | ** ** | **662 /  936** | ** ** | **66** | ** ** | **527 /  809** | ** ** | **19** | ** ** | **127 /  673** | ** ** | **23** | ** ** | **84 /  379** | ** ** | **69** | ** ** | **614 /  890** | ** ** |
| Small Company Value Fund                |       | Mar-09        |       | Small-Cap Core Funds                 | ** ** | **13**                                                    | ** ** | **94 /  768** | ** ** | **31** | ** ** | **188 /  617** | ** ** | **28** | ** ** | **141 /  503** | ** ** | **—** | ** ** | **—** | ** ** | ** ** | **‡** | ** ** | ** ** |
| INTECH Risk-Managed Core  Fund          |       | Jan-03        |       | Multi-Cap Core Funds                 | ** ** | **48**                                                    | ** ** | **357 /  755** | ** ** | **67** | ** ** | **407 /  610** | ** ** | **44** | ** ** | **196 /  454** | ** ** | **—** | ** ** | **—** | ** ** | **35** | ** ** | **124 /  357** | ** ** |
| Contrarian Fund                         |       | Aug-05        |       | Multi-Cap Core Funds                 | ** ** | **92**                                                    | ** ** | **690 /  755** | ** ** | **38** | ** ** | **229 /  610** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **17** | ** ** | **90 /  541** | ** ** |
|                                    |       |          |       |                                 | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International/  Funds**        |       |          |       |                                 |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| International Growth  Fund              |       | Jun-03        |       | International Funds                  | ** ** | **8**                                                     | ** ** | **96 /  1237** | ** ** | **1** | ** ** | **7 / 935** | ** ** | **1** | ** ** | **1 / 711** | ** ** | **3** | ** ** | **8 / 378** | ** ** | **1** | ** ** | **2 / 643** | ** ** |
| Worldwide Fund                          |       | Apr-09        |       | Global Funds                         | ** ** | **8**                                                     | ** ** | **39 /  524** | ** ** | **26** | ** ** | **96 /  381** | ** ** | **53** | ** ** | **155 /  294** | ** ** | **76** | ** ** | **115 /  152** | ** ** | ** ** | **‡** | ** ** | ** ** |
| International Equity  Fund              |       | Nov-06        |       | International Funds                  | ** ** | **15**                                                    | ** ** | **179 /  1237** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **18 /  979** | ** ** |
| INTECH Risk-Managed  International Fund |       | May-07        |       | International Funds                  | ** ** | **62**                                                    | ** ** | **761 /  1237** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **48** | ** ** | **513 /  1070** | ** ** |
| International Forty Fund                |       | May-08        |       | International Funds                  | ** ** | **50**                                                    | ** ** | **616 /  1237** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **30** | ** ** | **355 /  1207** | ** ** |
| Global Research Fund                    |       | Nov-07        |       | Global Funds                         | ** ** | **56**                                                    | ** ** | **294 /  524** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **43** | ** ** | **195 /  461** | ** ** |
|                                    |       |          |       |                                 | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value  Funds**                        |       |          |       |                                 |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Perkins Mid Cap Value  Fund             |       | Dec-02        |       | Mid-Cap Value Funds                  | ** ** | **15**                                                    | ** ** | **41 /  291** | ** ** | **2** | ** ** | **4 / 235** | ** ** | **3** | ** ** | **4 / 179** | ** ** | **—** | ** ** | **—** | ** ** | **8** | ** ** | **12 /  155** | ** ** |
| INTECH Risk-Managed  Value Fund         |       | Dec-05        |       | Multi-Cap Value Funds                | ** ** | **54**                                                    | ** ** | **187 /  346** | ** ** | **60** | ** ** | **168 /  283** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **60** | ** ** | **156 /  259** | ** ** |
|                                    |       |          |       |                                 | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Alternative  Funds**                  |       |          |       |                                 |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long/Short Fund                         |       | Aug-06        |       | Long/Short Equity Funds              | ** ** | **46**                                                    | ** ** | **47 /  103** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **30** | ** ** | **14 / 47** | ** ** |
| Global Real Estate Fund                 |       | Nov-07        |       | Global Real Estate Funds             | ** ** | **5**                                                     | ** ** | **4 / 81** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **4** | ** ** | **3 / 74** | ** ** |
|                                    |       |          |       |                                 | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income  Funds**                       |       |          |       |                                 |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Flexible Bond Fund                      |       | May-07        |       | Intermediate Investment Grade Debt   | ** ** | **4**                                                     | ** ** | **22 /  566** | ** ** | **7** | ** ** | **30 /  462** | ** ** | **8** | ** ** | **29 /  395** | ** ** | **20** | ** ** | **42 /  210** | ** ** | **7** | ** ** | **35 /  511** | ** ** |
| High-Yield Fund                         |       | Aug-05        |       | High Current Yield                   | ** ** | **14**                                                    | ** ** | **64 /  462** | ** ** | **27** | ** ** | **103 /  392** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **—** | ** ** | **27** | ** ** | **99 /  369** | ** ** |

 

Rankings are forthe Class S Shares only; other classes may have different performancecharacteristics.

 

**Janus Aspen Series (“JAS”)Institutional Shares**

 
| ** **                       | ** ** | ** **    | ** ** | ** **                            | ** ** | **Lipper Rankings Based on Total Returns as of  6/30/09** | ** ** |
|----------------------------------|------------|---------------|------------|---------------------------------------|------------|-----------------------------------------------------------|------------|
| ** **                       | ** ** | ** **    | ** ** | ** **                            | ** ** | **1-Year**                                                | ** ** | **3-Year** | ** ** | **5-Year** | ** ** | **10-Year** | ** ** | **Since PM Inception** | ** ** |
| ** **                       | ** ** | **PM**        | ** ** | ** **                            | ** ** | **Percentile**                                            | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** | **Percentile** | ** ** | **Rank  /** | ** ** |
| ** **                       | ** ** | **Inception** | ** ** | **Lipper  Category**                  | ** ** | **Rank  (%)**                                             | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** | **Rank  (%)** | ** ** | **Total  Funds** | ** ** |
| **Growth  Funds**                | ** ** | ** **    |       | * *                              | * *   | * *                                                  | * *   | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * | * * |
| Forty Portfolio                  |       | Jan-08        |       | VA Large-Cap Growth                   | ** ** | **87**                                                    | ** ** | **206 /  236** | ** ** | **1** | ** ** | **1 / 213** | ** ** | **1** | ** ** | **1 / 192** | ** ** | **3** | ** ** | **2 / 76** | ** ** | **31** | ** ** | **70 /  229** | ** ** |
| Janus Portfolio                  |       | Oct-07        |       | VA Large-Cap Growth                   | ** ** | **37**                                                    | ** ** | **86 /  236** | ** ** | **32** | ** ** | **68 /  213** | ** ** | **58** | ** ** | **111 /  192** | ** ** | **62** | ** ** | **47 / 76** | ** ** | **36** | ** ** | **80 /  224** | ** ** |
| Enterprise Portfolio             |       | Oct-07        |       | VA Mid-Cap Growth                     | ** ** | **59**                                                    | ** ** | **80 /  136** | ** ** | **12** | ** ** | **15 /  124** | ** ** | **9** | ** ** | **9 / 111** | ** ** | **73** | ** ** | **31 / 42** | ** ** | **23** | ** ** | **29 /  129** | ** ** |
|                             |       |          |       |                                  | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Core  Funds**                  |       |          |       |                                  |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | ** ** |
| Balanced Portfolio               |       | Apr-05        |       | VA Mixed-Asset Target Alloc. Mod.     | ** ** | **2**                                                     | ** ** | **3 / 185** | ** ** | **1** | ** ** | **1 / 120** | ** ** | **3** | ** ** | **2 / 78** | ** ** | **13** | ** ** | **6 / 47** | ** ** | **2** | ** ** | **1 / 95** | ** ** |
| Growth and Income  Portfolio     |       | Nov-07        |       | VA Large-Cap Core                     | ** ** | **21**                                                    | ** ** | **48 /  230** | ** ** | **30** | ** ** | **62 /  207** | ** ** | **14** | ** ** | **24 /  182** | ** ** | **11** | ** ** | **9 / 87** | ** ** | **17** | ** ** | **37 /  221** | ** ** |
| Fundamental Equity  Portfolio    |       | Nov-07        |       | VA Large-Cap Core                     | ** ** | **65**                                                    | ** ** | **149 /  230** | ** ** | **56** | ** ** | **116 /  207** | ** ** | **15** | ** ** | **27 /  182** | ** ** | **16** | ** ** | **14 / 87** | ** ** | **53** | ** ** | **117 /  221** | ** ** |
|                             |       |          |       |                                  | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Global/International  Funds**  |       |          |       |                                  |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | ** ** |
| Worldwide Growth  Portfolio      |       | Apr-09        |       | VA Global                             | ** ** | **29**                                                    | ** ** | **36 /  125** | ** ** | **39** | ** ** | **34 / 88** | ** ** | **82** | ** ** | **60 / 73** | ** ** | **87** | ** ** | **31 / 35** | ** ** | ** ** | **‡** | **0** | ** ** |
| International Growth  Portfolio  |       | Jun-03        |       | VA International                      | ** ** | **4**                                                     | ** ** | **10 /  275** | ** ** | **1** | ** ** | **2 / 232** | ** ** | **1** | ** ** | **1 / 193** | ** ** | **3** | ** ** | **2 / 97** | ** ** | **1** | ** ** | **1 / 185** | ** ** |
| Global Life Sciences  Portfolio  |       | Oct-04        |       | VA Health/Biotechnology               | ** ** | **95**                                                    | ** ** | **36 / 37** | ** ** | **43** | ** ** | **15 / 34** | ** ** | **19** | ** ** | **6 / 31** | ** ** | **—** | ** ** | **—** | ** ** | **16** | ** ** | **5 / 31** | ** ** |
| Global Technology  Portfolio     |       | Jan-06        |       | VA Science & Technolog       | ** ** | **37**                                                    | ** ** | **21 / 57** | ** ** | **26** | ** ** | **14 / 54** | ** ** | **16** | ** ** | **8 / 52** | ** ** | **—** | ** ** | **—** | ** ** | **28** | ** ** | **15 / 54** | ** ** |
|                             |       |          |       |                                  |       | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Value  Funds**                 |       |          |       |                                  |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | ** ** |
| Perkins Mid Cap Value  Portfolio |       | May-03        |       | VA Mid-Cap Value                      | ** ** | **6**                                                     | ** ** | **4 / 76** | ** ** | **2** | ** ** | **1 / 63** | ** ** | **2** | ** ** | **1 / 52** | ** ** | **—** | ** ** | **—** | ** ** | **2** | ** ** | **1 / 49** | ** ** |
|                             |       |          |       |                                  | ** ** | ** **                                                | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| **Income  Funds**                |       |          |       |                                  |       |                                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | ** ** |
| Flexible Bond Portfolio          |       | May-07        |       | VA Intermediate Investment Grade Debt | ** ** | **10**                                                    | ** ** | **7 / 73** | ** ** | **17** | ** ** | **11 / 67** | ** ** | **19** | ** ** | **11 / 60** | ** ** | **18** | ** ** | **5 / 28** | ** ** | **13** | ** ** | **9 / 69** | ** ** |

 

Rankings are for the Institutional Shares only; other classes may havedifferent performance characteristics.

 

Please considerthe charges, risks, expenses and investment objectives carefully beforeinvesting. For a prospectus containing this and other information, please callJanus at 1-800-525-1068 or download the file from janus.com. Read it carefullybefore you invest or send money.

 

Lipper Inc. — AReuters Company, is a nationally recognized organization that ranks theperformance of mutual funds within a universe of funds that have similarinvestment objectives.  Rankings arehistorical with capital gains and dividends reinvested. If an expense waiverwas in effect, it may have had a material effect on the total return or yieldfor the period.

 

Data presentedreflects past performance, which is no guarantee of future results.

 

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