INTECH Emerging Markets Managed Volatility Fund Full Portfolio Holdings as of 6/30/15

Company Name Equity/ Long Holdings Aboitiz Equity Ventures, Inc. Aboitiz Power Corp. Acer, Inc. Advanced Info Service PCL Advanced Semiconductor Engineering, Inc. AES Gener SA Agricultural of , Ltd. - Class H Aguas Andinas SA - Class A , Ltd. - Class H Airports of Thailand PCL Alliance Financial Group Bhd Amorepacific Corp. Amorepacific Corp. AMOREPACIFIC Group Co., Ltd. - Class H Products, Ltd. Asia Cement Corp. Astra International Tbk PT Asustek Computer, Inc. AU Optronics Corp. AviChina & Technology Co., Ltd. - Class H Axiata Group Bhd Ayala Corp. Ayala Land, Inc. Banco de Chile Banco de Credito e Inversiones Bangkok Dusit Medical Services PCL Tbk PT Persero Tbk PT Bank Negara Persero Tbk PT , Ltd. - Class H Co., Ltd - Class H Bank of the Philippine Islands Persero Tbk PT BDO Unibank, Inc. Capital International Airport Co., Ltd. - Class H Beijing Enterprises Holdings, Ltd. BNK Financial Group, Inc. Brait SE BTS Group Holdings PCL Bumrungrad Hospital PCL Capitec Bank Holdings, Ltd. Cathay Financial Holding Co., Ltd. Celltrion, Inc. CEZ A/S Chailease Holding Co., Ltd. Chang Hwa Commercial Bank, Ltd. Charoen Pokphand Foods PCL Cheil Worldwide, Inc. Cheng Shin Rubber Industry Co., Ltd. Chicony Electronics Co., Ltd. China Airlines, Ltd. China CITIC Bank Corp., Ltd. - Class H China Coal Energy Co., Ltd. - Class H China Communications Construction Co., Ltd. - Class H Corp. - Class H China COSCO Holdings Co., Ltd. - Class H China Development Financial Holding Corp. Co., Ltd. - Class H China Galaxy Securities Co., Ltd. - Class H China Life Co., Ltd. China Medical System Holdings, Ltd. China Co., Ltd. Co., Ltd. - Class H China Minsheng Banking Corp., Ltd. - Class H , Ltd. China National Building Material Co., Ltd. - Class H China Railway Construction Corp., Ltd. - Class H China Railway Group, Ltd. - Class H Gas Group, Ltd. China Shipping Container Lines Co., Ltd. - Class H China Southern Airlines Co., Ltd. - Class H Corp. Rural Commercial Bank Co., Ltd. - Class H Co., Ltd. CITIC, Ltd. CJ CheilJedang Corp. Colbun SA Commercial International Bank SAE , Inc. Corpbanca SA COSCO Pacific, Ltd. Coway Co., Ltd. CP ALL PCL CRRC Corp., Ltd. - Class H CTBC Financial Holding Co., Ltd. Cyfrowy Polsat SA DGB Financial Group, Inc. DiGi.Com Bhd DMCI Holdings, Inc. Dongbu Insurance Co., Ltd. E.Sun Financial Holding Co., Ltd. Eclat Textile Co., Ltd. E-Mart Co., Ltd. Empresas CMPC SA Energa SA Energy Development Corp. Epistar Corp. Eva Airways Corp. Evergrande Real Estate Group, Ltd. Far Eastern New Century Corp. Far EasTone Telecommunications Co., Ltd. Feng TAY Enterprise Co., Ltd. Fibria Celulose SA First Financial Holding Co., Ltd. , Ltd. Franshion Properties China, Ltd. Fubon Financial Holding Co., Ltd. Gamuda Bhd Automobile Holdings, Ltd. Globe Telecom, Inc. Gold Fields, Ltd. Goldin Properties Holdings, Ltd. GOME Electrical Appliances Holding, Ltd. Great Wall Motor Co., Ltd. - Class H Gruma SAB de CV - Class B Grupo Aeroportuario del Pacifico SAB de CV - Class B GS Holdings Corp. GT Capital Holdings, Inc. , Ltd. Tbk PT Haitian International Holdings, Ltd. Halla Visteon Climate Control Corp. Hanergy Thin Film Power Group, Ltd. Hanmi Pharm Co., Ltd. Hanssem Co., Ltd. Hanwha Corp. Group Co., Ltd. Highwealth Construction Corp. Hong Leong Bank Bhd Hotel Shilla Co., Ltd. HTC Corp. Hua Nan Financial Holdings Co., Ltd. Huadian Power International Corp., Ltd. - Class H Huaneng Power International, Inc. - Class H Huaneng Renewables Corp., Ltd. - Class H Hyosung Corp. Hyundai Department Store Co., Ltd. Hyundai Development Co. Co., Ltd. Hyundai Marine & Fire Insurance Co., Ltd. Hyundai Motor Co. Hyundai Motor Co. Co. Corp. IHH Healthcare Bhd IJM Corp. Bhd Sukses Makmur Tbk PT Industrial & Commercial Bank of China, Ltd. - Class H of Korea Innolux Corp. International Container Terminal Services, Inc. Inventec Corp. iShares India 50 (ETF) JG Summit Holdings, Inc. Jiangsu Expressway Co., Ltd. - Class H Jollibee Foods Corp. Tbk PT Kangwon Land, Inc. Kasikornbank PCL KB Financial Group, Inc. KCC Corp. KEPCO Plant Service & Engineering Co., Ltd. Motors Corp. Klabin SA Komercni Banka A/S Korea Aerospace Industries, Ltd. Korea Zinc Co., Ltd. Krung Thai Bank PCL KT&G Corp. Group, Ltd. LG Corp. LG Display Co., Ltd. LG Household & Health Care, Ltd. Lite-On Technology Corp. Co., Ltd. Lotte Chemical Corp. Massmart Holdings, Ltd. Maxis Bhd Mediclinic International, Ltd. Mega Financial Holding Co., Ltd. Megaworld Corp. Minor International PCL MISC Bhd MOL Hungarian Oil & Gas PLC NAVER Corp. NCSoft Corp. Netcare, Ltd. Co., Ltd. - Class H Novatek Microelectronics Corp. OTP Bank PLC Corp. People's Insurance Co. Group of China, Ltd. - Class H Persero Tbk PT PGE Polska Grupa Energetyczna SA Philippine Long Distance Telephone Co. Polski Koncern Naftowy Orlen SA Pou Chen Corp. President Chain Store Corp. PSG Group, Ltd. Public Bank Bhd Qatar Electricity & Water Co QSC Qatar National Bank SAQ , Inc. Realtek Semiconductor Corp. S-1 Corp. Samsung Electro-Mechanics Co., Ltd. Co., Ltd. Samsung Electronics Co., Ltd. Samsung Fire & Marine Insurance Co., Ltd. Semiconductor International Corp. Severstal PAO (GDR) Fosun Pharmaceutical Group Co., Ltd. - Class H Shanghai Industrial Holdings, Ltd. Shanghai Pharmaceuticals Holding Co., Ltd. - Class H Group Holdings, Ltd. Shin Kong Financial Holding Co., Ltd. Siam Cement PCL Holdings Group, Ltd. Siliconware Precision Industries Co., Ltd. Sime Darby Bhd Simplo Technology Co., Ltd. Sino Biopharmaceutical, Ltd. SinoPac Financial Holdings Co., Ltd. Co., Ltd. - Class H SK C&C Co., Ltd. SK Holdings Co., Ltd. SK Hynix, Inc. SK Innovation Co., Ltd. SM Investments Corp. SM Prime Holdings, Inc. S-Oil Corp. Spar Group, Ltd. Steinhoff International Holdings, Ltd. Sun Art Retail Group, Ltd. Tbk PT Suzano Papel e Celulose SA - Class A Synnex Technology International Corp. Cooperative Financial Holding Co., Ltd. Taiwan Fertilizer Co., Ltd. Co., Ltd. Talaat Moustafa Group Telekom Malaysia Bhd Telekomunikasi Indonesia Persero Tbk PT Tenaga Nasional Bhd Thai Union Frozen Products PCL Tower Bersama Infrastructure Tbk PT TPK Holding Co., Ltd. True Corp. PCL Indonesia Tbk PT Universal Robina Corp. Wal-Mart de Mexico SAB de CV China Holdings, Ltd. Weichai Power Co., Ltd. - Class H Corp. WPG Holdings, Ltd. YTL Corp. Bhd Yuanta Financial Holding Co., Ltd. Yuexiu Property Co., Ltd. Yuhan Corp. Zhejiang Expressway Co., Ltd. - Class H Zijin Mining Group Co., Ltd. - Class H ZTE Corp. - Class H

Cash and Cash Equivalents

Holdings are subject to change without notice.

Portfolio Holdings Disclaimer Janus publishes on its website this listing of securities held in the Fund as of the most recent calendar- quarter end, 60 days after the end of the calendar quarter. The listing excludes any investment in derivative instruments.

Unlike the fund’s regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in the complete statement of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form N-Q filings for each fiscal year. Janus may exclude any portion of a fund's portfolio holdings from publication on this site when deemed in the best interest of the fund.

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