Janus Henderson Mid Cap Value Fund - L Shares 

The Janus Henderson Mid Cap Value Fund primarily concentrates its investments on the equity shares of medium-sized businesses that its investment team identifies as undervalued. A fundamental rule of the fund is to commit a minimum of 80% of its net holdings (plus any capital borrowed for investment) to stocks of companies whose market value, when purchased, aligns with the capitalization scope of the Russell Midcap® Value Index. Additionally, under typical market conditions, the fund may allocate up to one-fifth of its net assets to securities issued by companies with market capitalizations outside of these defined ranges.