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

Company Name Equity/Debt Long Holdings Accor SA Admiral Group PLC Aeon Co., Ltd. AEON Financial Service Co., Ltd. AIA Group, Ltd. Air Water, Inc. Airbus Group SE Co., Inc. Alfresa Holdings Corp. Altice SA Amada Holdings Co., Ltd. , Ltd. ANDRITZ AG Anheuser-Busch InBev NV APA Group ARM Holdings PLC Asahi Glass Co., Ltd. Corp. Asics Corp. Assa Abloy AB - Class B Associated British Foods PLC , Inc. Atlas Copco AB - Class A Atlas Copco AB - Class B Aviva PLC BAE Systems PLC Bank Hapoalim BM Bank Leumi Le-Israel BM Bank of East Asia, Ltd. Bezeq Israeli Telecommunication Corp., Ltd. BOC Hong Kong Holdings, Ltd. Boliden AB , Ltd. Brenntag AG Corp. Bunzl PLC Burberry Group PLC Calbee, Inc. Caltex , Ltd. Canon, Inc. Cap Gemini SA CapitaLand Commercial Trust Carlsberg A/S - Class B Carnival PLC Casio Computer Co., Ltd. Cathay Pacific Airways, Ltd. Central Railway Co. Cheung Kong Infrastructure Holdings, Ltd. Cheung Kong Property Holdings, Ltd. Chiba Bank, Ltd. Chocoladefabriken Lindt & Sprungli AG (PC) Chocoladefabriken Lindt & Sprungli AG (REG) Christian Dior SE Cie Generale des Etablissements Michelin CK Hutchison Holdings, Ltd. CLP Holdings, Ltd. Cobham PLC Cochlear, Ltd. Coloplast A/S - Class B ComfortDelGro Corp., Ltd. Compass Group PLC Continental AG CRH PLC Croda International PLC CSL, Ltd. Dai Nippon Printing Co., Ltd. Daicel Corp. Co., Ltd. Daimler AG Daito Trust Construction Co., Ltd. Industry Co., Ltd. Dassault Systemes DBS Group Holdings, Ltd. Delhaize Group SA Deutsche Annington Immobilien SE Deutsche Boerse AG Deutsche Telekom AG Deutsche Wohnen AG Dixons Carphone PLC Don Quijote Holdings Co., Ltd. East Japan Railway Co. easyJet PLC Co., Ltd. Essilor International SA Eutelsat Communications SA FamilyMart Co., Ltd. FANUC Corp. Co., Ltd. Fiat Chrysler Automobiles NV Finmeccanica SpA Fresenius Medical Care AG & Co. KGaA Fresenius SE & Co. KGaA FUJIFILM Holdings Corp. , Ltd. Givaudan SA GPT Group Groupe Eurotunnel SE Gunma Bank, Ltd. Hachijuni Bank, Ltd. Hang Seng Bank, Ltd. Hannover Rueck SE Henderson Land Development Co., Ltd. Henkel AG & Co. KGaA Henkel AG & Co. KGaA Hirose Electric Co., Ltd. Hiroshima Bank, Ltd. Hisamitsu Pharmaceutical Co., Inc. HKT Trust & HKT, Ltd. Hokuhoku Financial Group, Inc. Hokuriku Electric Power Co. Motor Co., Ltd. Hong Kong & China Gas Co., Ltd. Hong Kong Exchanges & Clearing, Ltd. Hoya Corp. Hugo Boss AG Hysan Development Co., Ltd. Ibiden Co., Ltd. ICAP PLC , Ltd. Imperial Tobacco Group PLC , Ltd. Infineon Technologies AG Inmarsat PLC International Consolidated Airlines Group SA Intesa Sanpaolo SpA Isetan Mitsukoshi Holdings, Ltd. Israel Chemicals, Ltd. ISS A/S Corp. ITV PLC J Front Retailing Co., Ltd. PLC (CDI) Japan Airport Terminal Co., Ltd. Japan Prime Realty Investment Corp. Japan Retail Fund Investment Corp. , Inc. Jeronimo Martins SGPS SA Julius Baer Group, Ltd. JX Holdings, Inc. Kabel Deutschland Holding AG Kaneka Corp. Kao Corp. Kawasaki Heavy Industries, Ltd. KBC Groep NV Keihan Electric Railway Co., Ltd. Keisei Electric Railway Co., Ltd. Kerry Properties, Ltd. Kikkoman Corp. Klepierre Kobe Steel, Ltd. Kone Oyj - Class B Koninklijke Ahold NV Koninklijke KPN NV Koninklijke Vopak NV Kuehne + Nagel International AG Kyowa Hakko Kirin Co., Ltd. LANXESS AG Lawson, Inc. Lend Lease Group Link REIT London Stock Exchange Group PLC Lonza Group AG L'Oreal SA Luxottica Group SpA LVMH Moet Hennessy Louis Vuitton SE M3, Inc. Mabuchi Motor Co., Ltd. , Ltd. MAN SE Marui Group Co., Ltd. Medipal Holdings Corp. MEIJI Holdings Co., Ltd. Merck KGaA Meridian Energy, Ltd. Merlin Entertainments PLC Mitsubishi Chemical Holdings Corp. Mitsubishi Corp. Mitsubishi Tanabe Pharma Corp. Mitsubishi UFJ Financial Group, Inc. Mitsui OSK Lines, Ltd. , Inc. Mondi PLC MS&AD Insurance Group Holdings, Inc. MTR Corp., Ltd. Co., Ltd. Nabtesco Corp. Nagoya Railroad Co., Ltd. National Grid PLC Natixis SA Neste Oyj Nestle SA New World Development Co., Ltd. , Ltd. Next PLC NH Foods, Ltd. NICE Systems, Ltd. Corp. Co., Ltd. Nippon Express Co., Ltd. Nippon Paint Holdings Co., Ltd. Nippon Prologis REIT, Inc. Nippon Telegraph & Telephone Corp. Motor Co., Ltd. Nitori Holdings Co., Ltd. Corp. NOK Corp. Nomura Research Institute, Ltd. Novartis AG Novo Nordisk A/S - Class B NSK, Ltd. NTT Data Corp. Numericable-SFR SAS Oji Holdings Corp. Oriental Land Co., Ltd. OSRAM Licht AG Otsuka Corp. Otsuka Holdings Co., Ltd. Oversea-Chinese Banking Corp., Ltd. Corp. Pandora A/S Park24 Co., Ltd. Partners Group Holding AG Pearson PLC Persimmon PLC Peugeot SA Porsche Automobil Holding SE Power Assets Holdings, Ltd. ProSiebenSat.1 Media AG Proximus Prysmian SpA Publicis Groupe SA QBE Insurance Group, Ltd. , Inc. , Ltd. Randgold Resources, Ltd. Randstad Holding NV Reckitt Benckiser Group PLC Red Electrica Corp. SA Reed Elsevier NV Reed Elsevier PLC Renault SA Roche Holding AG Rolls-Royce Holdings PLC Ryman Healthcare, Ltd. Safran SA Sage Group PLC Sankyo Co., Ltd. Santen Pharmaceutical Co., Ltd. Schindler Holding AG (PC) Schindler Holding AG (REG) SCOR SE Co., Ltd. Securitas AB - Class B Seibu Holdings, Inc. , Ltd. SES SA (FDR) Seven & I Holdings Co., Ltd. Shimadzu Corp. Shimamura Co., Ltd. Shimano, Inc. Shin-Etsu Chemical Co., Ltd. & Co., Ltd. Shire PLC Co., Ltd. Singapore Airlines, Ltd. Singapore Exchange, Ltd. Singapore Press Holdings, Ltd. Singapore Technologies Engineering, Ltd. Singapore Telecommunications, Ltd. SKF AB - Class B Societe BIC SA Sompo Japan Nipponkoa Holdings, Inc. , Ltd. Corp. Sony Financial Holdings, Inc. , Ltd. SSE PLC STMicroelectronics NV Stora Enso Oyj - Class R Co., Ltd. Sumitomo Corp. Sumitomo Heavy Industries, Ltd. Sumitomo Mitsui Financial Group, Inc. Sun Hung Kai Properties, Ltd. Suntec Real Estate Investment Trust Suntory Beverage & Food, Ltd. Suruga Bank, Ltd. Suzuken Co., Ltd. Swire Pacific, Ltd. - Class A Swire Properties, Ltd. Swiss Prime Site AG Swiss Re AG Swisscom AG Symrise AG Sysmex Corp. T&D Holdings, Inc. , Ltd. Taisho Pharmaceutical Holdings Co., Ltd. Takashimaya Co., Ltd. Takeda Pharmaceutical Co., Ltd. Taylor Wimpey PLC TDK Corp. Techtronic Industries Co. Teijin, Ltd. Telefonaktiebolaget LM Ericsson - Class B Corp., Ltd. Terumo Corp. Teva Pharmaceutical Industries, Ltd. Thales SA Toho Gas Co., Ltd. Holdings, Inc. Gas Co., Ltd. TonenGeneral Sekiyu KK Toppan Printing Co., Ltd. , Inc. TOTO, Ltd. Toyo Seikan Group Holdings, Ltd. Motor Corp. Group Travis Perkins PLC Trend Micro, Inc. Tryg A/S UBS Group AG Corp. United Overseas Bank, Ltd. United Urban Investment Corp. United Utilities Group PLC UOL Group, Ltd. UPM-Kymmene Oyj USS Co., Ltd. Valeo SA Vestas Wind Systems A/S Volkswagen AG Volkswagen AG West Japan Railway Co. Westfield Corp. Wheelock & Co., Ltd. Whitbread PLC Wilmar International, Ltd. Wolseley PLC Wolters Kluwer NV Yakult Honsha Co., Ltd. Yamada Denki Co., Ltd. Yamaguchi Financial Group, Inc. Yamaha Motor Co., Ltd. Yamato Holdings Co., Ltd. Yamazaki Baking Co., Ltd. Yara International ASA Yokohama Rubber Co., Ltd. Yue Yuen Industrial Holdings, Ltd. Zodiac Aerospace Zurich Insurance Group AG

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.