Janus Henderson Global Select Fund Acc

Objective The Fund aims to provide capital growth over the long term. Performance target: To outperform the MSCI All Countries World Index by 2.5% per annum, before the deduction of charges, over any 5 year period. Investment policy The Fund invests at least80%of its assets in a portfolio of shares (also known as equities) of companies, of any size, in any industry, in any country. The Fund may also invest in other assets including cash and money market instruments. The Investment Adviser may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently. The Fund is activelymanaged with reference to theMSCI All CountriesWorld Index, which is broadly representative of the companies in which it may invest, as this forms the basisof the Fund's performance target.TheInvestment Adviser has discretion to choose investments for the Fund with weightings different to the index or not in the index. Asan additionalmeansof assessing the performance of the Fund,the IA Global sector average, which is based on a peer group of broadly similar funds, may also provide a useful comparator. Strategy The Investment Adviser seeks to growcapital by investing in companies with strong or improving cash flow. The Fund considers both growth criteria (i.e. where company earnings are expected to grow at an above-average rate), and value criteria (i.e. where share prices are expected to increase), to select the best companies to invest in. These Companies will typically operate in markets that the Investment Manager believes offer sustainably high levels ofgrowthatareasonableprice.Theinvestmentprocesslookstoidentifymeaningful differences between the Investment Adviser’s analysis and the market’s expectations. Taking a disciplined approach to portfolio construction and risk management, the Investment Adviser aims to ensure that stock selection is the primary driver of returns. OtherInformation The Investment Adviser will seek to promote environmental, social and/or governance (ESG) principles in managing the Fund, which may include the exclusion of issuers that the Investment Adviser considers could contribute to significant ESG harm, as further described in the prospectus. Distribution policy The Fund offers accumulation units (units in which net income is retained within the price). Recommendation This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. TheFundis designed tobeusedonlyasonecomponentof several inadiversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this Fund. You can buy, sell or switch units in the Fund on any dealing day and according to certain restrictions, both defined in detail in the Fund's Prospectus. For an explanation of some of the terms used in this document, please visit the glossaryonourwebsite atwww.janushenderson.com.