Janus Capital Funds Plc 22 September 2016 Prospectus This Prospectus relates to separate classes of shares of no par value (“Shares”) of Janus Capital Funds plc (the “Company”). A separate prospectus is not being issued for each class of Shares. Shares are issued with respect to one of the following investment portfolios (each a “Fund”) of the Company: EQUITY & ALLOCATION FUNDS INTECH SUB-ADVISED FUNDS ALTERNATIVE INVESTMENT FUNDS Janus Asia Frontier Markets Fund INTECH All-World Minimum Variance (For the avoidance of doubt, the Alternative Janus Asia Growth Drivers Fund Core Fund Investment Funds (other than the Janus Janus Asia Fund INTECH Emerging Markets Core Fund Global Real Estate Fund) are Equity Janus Balanced Fund INTECH Emerging Markets Managed Investing Funds) Janus Emerging Markets Fund Volatility Fund Janus Extended Alpha Fund Janus Europe Allocation Fund INTECH European Core Fund Janus Global Diversified Alternatives Fund Janus Europe Fund INTECH European Managed Janus Global Real Estate Fund Janus Global Adaptive Capital Volatility Fund Janus Global Research 130/30 Fund Appreciation Fund (formerly known as INTECH Global All Country Core Fund the Janus Global Adaptive Equity INTECH Global All Country FIXED INCOME FUNDS Allocation Fund) Low Volatility Fund Janus Absolute Return Income Fund Janus Global Adaptive Capital INTECH Global All Country Janus Emerging Market Debt Fund Preservation Fund Managed Volatility Fund Janus Europe Flexible Income Fund Janus Global Adaptive Multi-Asset Fund INTECH Global Core Fund Janus Flexible Income Fund Janus Global Growth Fund INTECH Global Income Managed Janus Global Flexible Income Fund Janus Global Life Sciences Fund Volatility Fund (formerly known as the Janus Global High Yield Fund Janus Global Opportunistic Alpha Fund INTECH Global Dividend Fund) Janus Global Investment Grade Bond Janus Global Research Fund INTECH Global Dividend Low Fund Janus Global Research (ex-Japan) Fund Volatility Fund Janus Global Opportunity Income Fund Janus Global Technology Fund INTECH US Core Fund Janus Multi-Sector Income Fund Janus Japan Emerging Opportunities Fund INTECH US Managed Volatility Fund Janus Global Strategic Income Fund Janus Japan Fund Janus Global Unconstrained Bond Fund Janus Opportunistic Alpha Fund Janus High Yield Fund (formerly known as the Janus US All Cap Janus US Short-Term Bond Fund Growth Fund) Janus US Fund Janus US Research Fund Janus US Twenty Fund Janus US Venture Fund Perkins Global Value Fund Perkins US Strategic Value Fund This Prospectus does not constitute an offer or solicitation by any person in any jurisdiction in which such offer or solicitation is unlawful, or in which the person making such offer or solicitation is not qualified to do so, or to anyone to whom it is unlawful to make such offer or solicitation. (An investment company with variable capital incorporated with limited liability in Ireland under registration number 296610 and established as an umbrella fund with segregated liability between Funds). Table of Contents Important Information . 1 Minimum Holdings . 54 Directory. 2 Limitations on Redemptions . 54 Summary . 3 Fees and Charges . 55 The Company. 6 Short Term Trading, Mandatory Redemption of Investment Objectives and Policies of the Funds . 6 Shares and Forfeiture of Dividend. 55 Profile of a Typical Investor . 6 Investor Account. 55 Equity Investing . 7 How to Exchange or Transfer Shares . 56 Equity Investment Strategy of the Sub-Investment Exchange of Shares. 56 Advisers . 7 Cut-off Times and Processing . 57 Equity & Allocation Funds . 8 Information Required by the Administrator . 57 INTECH Sub-Advised Funds. 14 Minimum Holdings . 57 Alternative Investment Funds . 16 Excessive and/or Short-Term Trading. 58 Income Investing . 18 Other Fees & Taxes. 58 Fixed Income Funds . 19 Transfer of Shares . 58 Use of Temporary Defensive Measures. 23 Distribution Policies . 59 Investment Restrictions . 23 Accumulating (acc) Share Classes. 71 Use of Investment Techniques and Instruments and Distributing (dis or inc) Share Classes . 71 Financial Derivatives Instruments. 23 Tax Information . 71 Types and Description of Financial United States Taxation . 71 Derivative Instruments . 24 Ireland Taxation . 72 Risk Factors and Special Considerations . 25 Automatic exchange of Information. 75 Portfolio Transactions . 38 Determination of Net Asset Value . 76 Investment Decisions . 38 Valuation of Assets . 76 Brokerage and Research Services. 38 Publication of the Price of the Shares . 77 Conflicts of Interest . 39 Temporary Suspension of Valuation of the Management and Administration Shares and of Sales and Repurchases . 77 of the Company . 40 Portfolio Holdings Disclosure Policy. 78 The Directors . 40 Fees and Expenses . 78 Corporate Governance . 40 Charging Structure Applicable to Different The Share Capital and the Shareholders . 41 Share Classes . 78 The Funds and Segregation of Liability. 41 Investment Management Fees. 79 The Investment Adviser . 42 Other Expenses . 88 The Sub-Investment Advisers . 42 Directors’ Fees. 89 The Support Services Agent . 43 Reports . 89 The Distributor . 43 Other Information. 89 The Administrator and Shareholder Servicing Agent . 43 Termination . 89 The Depositary. 45 Memorandum and Articles of Association. 90 The Offering . 45 Meetings. 90 General . 45 Remuneration Policy of the Company . 90 Initial Offers of Share Classes . 46 Material Contracts . 90 Excessive and/or Short-Term Trading. 46 Documents For Inspection . 91 How to Purchase Shares. 47 Complaints Handling . 91 Minimum Subscription . 47 Miscellaneous. 91 Offer Price . 49 Definitions. 91 Information Required by the Administrator . 49 Appendix 1: Investment Techniques and Instruments . 97 Initial Subscriptions . 49 Appendix 2: The Regulated Markets . 102 Subsequent subscriptions. 50 Appendix 3: Securities Ratings. 105 Trade Cut-Off and Settlement Times . 50 Appendix 4 : Investment Restrictions. 107 Subscription Order Processing . 52 Appendix 5: The Funds and Classes of Shares. 109 Payment for Subscriptions . 52 Appendix 6: Listing on the Irish Stock Exchange . 111 Anti-Money Laundering Measures . 52 Appendix 7: The Offering . 112 Personal Information . 52 Appendix 8: Fees and Expenses to Capital Common Reporting Standard. 53 Share Classes . 132 How to Redeem Shares . 53 Appendix 9: Distributions out of Capital Cut-Off Times and Processing. 53 Share Classes . 144 Redemption Order Processing . 54 Appendix 10: Delegates appointed by Citibank Payment of Redemption Proceeds . 54 N.A. as at 22 September.