as of 03/31/14
as of 03/31/14
Annualized Returns as of 03/31/14
|Cal YTD||Qtr. Ending||1 yr||3 yr||5 yr||10 yr|
|Gross of Advisory Fees||0.31 %||0.31%||22.61%||14.36%||20.27%||8.17%||12.83%|
|Net of Advisory Fees||0.19 %||0.19%||22.03%||13.82%||19.71%||7.67%||12.26%|
|Growth Index - Blended||1.39 %||1.39%||23.12%||15.39%||21.10%||7.77%||9.31%|
INTECH, an indirect subsidiary of Janus Capital Group Inc., is an investment adviser registered under the Investment Advisers Act of 1940 utilizing a mathematically-based, risk managed investment process that attempts to capitalize on volatility in stock price movements. INTECH is affiliated with Janus Capital Group Inc. and its subsidiaries and affiliates. These subsidiaries and/or affiliates include Janus Capital Management LLC and Perkins Investment Management LLC. Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Performance results reflect the reinvestment of dividends and other earnings. Portfolio performance results shown are time-weighted rates of return using daily valuation, include the effect of transaction costs (commissions, exchange fees, etc.), and are gross of non-reclaimable withholding taxes, if any. The composite(s) include all actual fee-paying accounts managed on a fully discretionary basis according to the investment strategy from inception date, including those no longer under management. Accounts meeting such criteria enter the composite upon the full first month under management. For periods of less than one year, performance is not annualized. Reporting currency is USD unless otherwise noted. Differences may not agree with input data due to rounding and have been provided as supplemental information. INTECH claims compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of INTECH's composites and/or presentations that adheres to the GIPS standards, please contact INTECH at firstname.lastname@example.org.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fee and other contractual expenses as described in each client's individual contract.
The net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite. However, the net performance results do reflect the deduction of model investment advisory fees. For example, through December 31, 2004, net returns were derived using the maximum fixed fee of 55 bps for the Large Cap Growth strategy. As of January 1, 2005, net returns were calculated by applying the standard fee schedule in effect for the respective period to each account in the composite on a monthly basis. Actual advisory fees may vary among clients invested in this strategy. Actual advisory fees paid may be higher or lower than model advisory fees. Some clients may utilize a performance-based fee.
Please click here to view presentations that comply fully with the GIPS standards. INTECH's performance composites have been examined for the period indicated in each presentation. Please contact INTECH at Finance@intechjanus.com for a copy of the most recent verification report.
For periods of less than one year, performance is not annualized.
The U.S. Large Cap Growth strategy pursues a risk-managed approach to construct a diversified portfolio of large-capitalization securities. Under normal market conditions, effective October 26, 2007, the portfolio will typically include from 30% to 90% of the names in the S&P 500 Growth Index. Previously, portfolios typically included from 50% to 90% of the names in the Index. The long term target return objective over the benchmark (annualized gross of fees) range is 300 - 400 basis points.
For Growth Index - Blended from inception to 12/31/05, the composite's benchmark was the S&P 500/Barra Growth Index ("Barra Growth Index"). In 2005, S&P announced index name and methodology changes affecting the Barra Growth Index, which later became the S&P 500/Citigroup Growth Index ("Citigroup Growth Index"). During the transitional period, from 1/1/06 to 3/31/06, the benchmark return consisted partially of the return of the Barra Growth Index and the Citigroup Growth Index. On 4/1/06 the composite's benchmark was changed to the Citigroup Growth Index. Effective 12/9/2009, the Citigroup Growth Index's name was changed to S&P 500 Growth Index.
The S&P 500 Growth Index is a market-capitalization-weighted index developed by Standard and Poor's consisting of those stocks within the S&P 500 Index that exhibit strong growth characteristics. The index measures the performance of the growth style of investing in large cap U.S. stocks. The S&P 500 Growth Index uses a numerical ranking system based on growth factors and value factors to determine the constituents and their weightings. The S&P 500 Growth Index will be reconstituted annually.
The Index returns are provided to represent the investment environment existing during the time periods shown and are not covered by the report of independent verifiers. For comparison purposes, the index is fully invested, which includes the reinvestment of dividends and capital gains. The returns for the index do not include any transactions costs, management fees or other costs, and are gross of dividend tax withholdings unless otherwise noted. Composition of each separately managed account portfolio may differ from securities in the corresponding benchmark index. The index is used as a performance benchmark only, as INTECH does not attempt to replicate an index. The weightings of securities within the portfolio may differ significantly from the weighting within the index. The index is not available for direct investment; therefore, its performance does not reflect the expenses associated with the active management of an actual portfolio.
INTECH uses mathematical investment strategies to construct portfolios that seek to outperform their particular benchmarks. The implementation involves periodic portfolio optimizations using proprietary software. The optimizations seek to establish target weightings for the component securities of a portfolio. Between optimizations, the portfolios are rebalanced at certain intervals to maintain the actual security weightings close to the target weightings as determined by INTECH. Portfolio rebalancing decisions involve consideration of the effect of transaction costs on the portfolio. Daily supervisory oversight is exercised to ensure efficient implementation of the process, timing of securities transactions, measurement of market liquidity, and allocation of brokerage transactions. The weightings of securities within the portfolio may differ significantly from the weighting within the index. The index is not available for direct investment; therefore, its performance does not reflect the expenses associated with the active management of an actual portfolio.
INTECH is a Janus Capital Group Inc. company.
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