MULTI-ASSET CORE INCOME. Your Dynamic Planner risk profile explained. This document is for use with a financial adviser only For promotional purposes

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1 MULTI-ASSET CORE INCOME Your Dynamic Planner profile explained This document is for use with a financial adviser only For promotional purposes

2 Your Dynamic Planner profile explained It is important that you fully understand the Dynamic Planner profile that your financial adviser discusses with you. That is why Janus Henderson Investors has worked with Distribution Technology, the company behind Dynamic Planner, to clearly describe in this document what is meant by profiles 3 to 6. These are the profiles that relate to the Janus Henderson Multi-Asset Core Income range of funds. If you wish to discuss these or require further information, please contact your financial adviser. The range of funds comprises of: Janus Henderson Core 3 Income Fund ( profile 3) Janus Henderson Core 4 Income Fund ( profile 4) Janus Henderson Core 5 Income Fund ( profile 5) Janus Henderson Core 6 Income & Growth Fund ( profile 6) The Dynamic Planner profiles Risk profile Low High Lowest Very low Low * Lowest medium * Low medium * High medium * Highest medium High Very high Highest *These profiles are included within the Janus Henderson Multi-Asset Core Income range of funds. Please note these classifications are defined by Distribution Technology. Important information The Janus Henderson Core Income funds should be bought in conjunction with an attitude to tool as part of the financial advice process. These funds are, therefore, designed to be bought by advised clients only. Please note, the Distribution Technology profiles are indicative and based principally on expectations of how asset classes behave collectively within a portfolio. Funds are reviewed on a quarterly basis to ensure that the allocations remain appropriate for the profile provided; however they should not be solely relied upon when making investment decisions. Volatility measures how much a portfolio has moved up and down over a certain period and provides a guide to the level of expected in the portfolio. The Janus Henderson Core Income fund range is intended for investors with a medium to long-term investment horizon at least five years and on average over this time period the portfolios will aim not to deviate from their respective pre-set forecast volatility parameters. Investors should read the Full Prospectus and other scheme documentation before reaching a decision. Only levels 3, 4, 5 and 6 are currently included within the Janus Henderson Core Income range. 2

3 Risk profile 3 You have selected profile 3. This means that your attitude to accepting is low The scale comprises 10 profiles overall. This means that your attitude to accepting is below average. Your score is important in two ways to the type of investments you should consider. These are shown below. How comfortable you are with the possibility of losing money on your investments? You are likely to be less comfortable and less well able to adapt to losing money on your investments than someone who has a medium or high attitude to, for example, someone in profiles 5 to 10. How much you want to invest in higher- investments to get better returns? Higher- investments such as equities (shares) generally offer higher returns over the long term, but the investments also fluctuate more (go up and down in value). This means that while people may make more money in the long term with higher- investments, they are more likely to lose money in the short term. Summary Your attitude to accepting is low. While you are likely to be concerned with not getting as much back from your investments as you put in, you may also want to make higher returns on your investments. Your preferred investments are likely to be mainly lower- and medium- investments such as cash, bonds and property, with a few higher- investments such as shares. As your attitude to accepting is low, you are probably concerned about the possibility of losing money, but do not want to completely ignore the possibility of making higher returns. You probably want greater returns than are offered by bank accounts and other low- investments. As a result, you are prepared to accept some ups and downs. This means that you could make a loss on the amount you invest, particularly in the short term. An investment portfolio appropriate for this level may contain, for example, mainly lower- and medium- investments such as cash, bonds and property, with a few higher- investments such as shares. While a portfolio like this should go up and down in value less than a high- portfolio, the value of investments can always go down as well as up. Janus Henderson Core 3 Income Fund Fixed Income 47.3% Equities 22.9% Cash 15.7% Alternatives 14.1% Monthly Yield 3.5% Target volatility range 4.2% 6.3% Source: Janus Henderson Investors as at 31 December The adjusted historical yield reflects distributions declared over the past 12 months and any net income yet to be distributed to investors, as a % of the mid-market unit price, as at 31 December Based on I Inc share class. The figures in this chart are for illustrative purposes only. Totals may not add up to 100 due to rounding. Actual weightings will vary. The yield generated may rise or fall as a consequence of economic and market conditions. Past performance is not a guide to future performance. 3

4 Risk profile 4 You have selected profile 4. This means that your attitude to is lowest medium The scale is made up of 10 profiles overall. This means that your attitude to accepting is below average. Your score is important in two ways to the type of investments you should consider. These are shown below. How comfortable you are with the possibility of losing money on your investments? You are likely to be less comfortable and less well able to adapt to losing money on your investments than someone who has a high medium or high attitude to, for example, someone in profiles 5 to 10. How much you want to invest in higher- investments to get better returns? Higher- investments such as equities (shares) generally offer higher returns over the long term, but the investments also fluctuate more (go up and down in value). This means that while people may make more money in the long term with higher- investments, they are more likely to lose money in the short term. Summary Your attitude to accepting is lowest medium. While you are likely to be concerned with not getting as much back from your investments as you put in, you may also want to make higher returns on your investments. Your preferred investments are likely to be mainly lower- or medium- investments such as cash, bonds or property, with typically fewer higher- investments such as shares. As your attitude to accepting is lowest medium, you are probably concerned about the possibility of losing money, but do not want to completely ignore the possibility of making higher returns. You probably want greater returns than are offered by bank accounts and other low- investments. As a result, you are prepared to accept some ups and downs. This means that you could make a loss on the amount you invest, particularly in the short term. An investment portfolio appropriate for this level may contain, for example, mainly lower- or medium- investments such as cash, bonds or property, typically with a few higher- investments such as shares. While a portfolio like this should go up and down in value less than a high- portfolio, the value of investments can always go down as well as up. Janus Henderson Core 4 Income Fund Fixed Income 41.2% Equities 33.4% Cash 11.1% Alternatives 14.2% Target volatility range Monthly Yield 6.3% 8.4% 3.9% Source: Janus Henderson Investors as at 31 December The adjusted historical yield reflects distributions declared over the past 12 months and any net income yet to be distributed to investors, as a % of the mid-market unit price, as at 31 December Based on I Inc share class. The figures in this chart are for illustrative purposes only. Totals may not add up to 100 due to rounding. Actual weightings will vary. The yield generated may rise or fall as a consequence of economic and market conditions. Past performance is not a guide to future performance. 4

5 Risk profile 5 You have selected profile 5. This means that your attitude to accepting is low medium The scale is made up of 10 profiles overall. This means that you are about average in how much you want to take in your investments. Your score is important in two ways to the type of investments you should consider. These are shown below. How comfortable you are with the possibility of losing money on your investments? You are likely to be more comfortable and better able to adapt to losing money on your investments than someone whose attitude to accepting is lower, for example, someone in profiles 1 to 4. However, you are probably not as comfortable as someone in profiles 7 to 10. How much you want to invest in higher- investments to get better returns? Higher- investments such as equities (shares) generally offer higher returns over the long term, but the investments also fluctuate more (go up and down in value). This means that while people may make more money in the long term with higher- investments, they are more likely to lose money in the short term. Summary Your attitude to accepting is low medium. While you are likely to be concerned with not getting as much back from your investments as you put in, you also probably want to make higher returns on your investments. Your preferred investments are likely to include a balanced mix of lower- and medium- investments such as cash, bonds and property, and higher- investments such as shares. As your attitude to accepting is low medium, you would probably prefer your investment to go up and down less and make more modest returns than losing money for higher returns. However, you are probably prepared to accept some falls in order to make higher returns than just investing in low- investments. This means that you could make a loss on the amount you invest, particularly in the short term. An investment portfolio appropriate for this level may contain, for example, a balanced mix of lower and medium- investments such as cash, bonds and property, and higher- investments such as shares. While a portfolio like this should rise and fall in value less than a higher- portfolio, the value of investments can always go down as well as up. Janus Henderson Core 5 Income Fund Fixed Income 35.5% Equities 40.7% Cash 8.5% Alternatives 15.4% Monthly Yield Target volatility range 8.4% 10.5% 4.1% Source: Janus Henderson Investors as at 31 December The adjusted historical yield reflects distributions declared over the past 12 months and any net income yet to be distributed to investors, as a % of the mid-market unit price, as at 31 December Based on I Inc share class. The figures in this chart are for illustrative purposes only. Totals may not add up to 100 due to rounding. Actual weightings will vary. The yield generated may rise or fall as a consequence of economic and market conditions. Past performance is not a guide to future performance. 5

6 Risk profile 6 You have selected profile 6. This means that your attitude to accepting is high medium The scale is made up of 10 profiles overall. This means that you are about average in how much you want to take in your investments Your score is important in two ways to the type of investments you should consider. These are shown below. How comfortable you are with the possibility of losing money on your investments? You are likely to be more comfortable and better able to adapt to losing money on your investments than someone whose attitude to accepting is lower, for example, someone in profiles 1 to 4. However, you are probably not as comfortable as someone in profiles 7 to 10. How much you want to invest in higher- investments to get better returns? Higher- investments such as equities (shares) generally offer higher returns over the long term, but the investments also fluctuate more (go up and down in value). This means that while people may make more money in the long term with higher- investments, they are more likely to lose money in the short term. Summary Your attitude to accepting is high medium. While you are likely to be concerned with not getting as much back from your investments as you put in, you also want to make higher returns on your investments. Your preferred investments are likely to include mainly higher- investments such as shares and typically some lower- and medium- investments such as cash, bonds and property. As your attitude to accepting is high medium, you would probably prefer your investment to go up and down less and make more modest returns than losing money for higher returns. However, you are probably prepared to accept some falls in order to make higher returns than just investing in low- investments. This means that you could make a loss on the amount you invest, particularly in the short term. An investment portfolio appropriate for this level may contain, for example, mainly higher- investments such as shares, with some lower- and medium- investments such as cash, bonds and property. While a portfolio like this should rise and fall in value less than a higher- portfolio, the value of investments can always go down as well as up. Janus Henderson Core 6 Income & Growth Fund Fixed Income 21.2% Equities 55.9% Cash 6.9% Alternatives 16.1% Target volatility range Quarterly Yield 10.5% 12.6% 4.0% Source: Janus Henderson Investors as at 31 December The adjusted historical yield reflects distributions declared over the past 12 months and any net income yet to be distributed to investors, as a % of the mid-market unit price, as at 31 December Based on I Inc share class. The figures in this chart are for illustrative purposes only. Totals may not add up to 100 due to rounding. Actual weightings will vary. The yield generated may rise or fall as a consequence of economic and market conditions. Past performance is not a guide to future performance. 6

7 Further information Available from your financial adviser, at janushenderson.com/ukpi, or by calling Janus Henderson Investors on A simple guide to volatility A SIMPLE GUIDE TO VOLATILITY (continued) (BGB 10pt) For promotional purposes Investors have much to think about when choosing and understanding investments; in particular, market volatility and the impact it can have on your investment. Extreme market volatility during the financial crisis demonstrated how markets can swing wildly. Understanding volatility is therefore vital to the overall process of choosing the right investments, whether you decide to make your own investment decision or to consult a financial adviser. If you are unsure, we recommend consulting a financial adviser if you can. What is volatility? Can you measure it? Volatility is how sharply and how frequently a fund or share price moves The most common measure of volatility is standard deviation. This up or down over a certain period of time (see example below). measures how much the value of an investment moves away or deviates from its average (mean) value over a set period of time, ie, how much it rises and falls. The higher the volatility, the greater the standard What causes volatility? deviation. Investors have much to think about when choosing and understanding investments; in particular, market volatility and the impact it can have on your investment. Extreme market volatility during the credit crunch demonstrated how markets can swing wildly. Understanding volatility is therefore vital to the overall process of choosing the right investments, whether you decide to make your own investment decision or to consult a financial adviser. If you are unsure, we recommend consulting a financial adviser. Volatility can be triggered by any number of factors. The UK stock market, for example, can fluctuate because of various factors both domestically and overseas; economic data from around the world, as well as key political developments can trigger significant market movements. Periods of losses/downturns can be followed by upswings, also known as rallies, and vice versa. But this is the very nature of the stock market. The examples below show shares with lower and higher volatility. Share A has lower standard deviation (volatility) compared to share B which has higher standard deviation. Forecast volatility attempts to use standard deviation to forecast future variation in returns. The higher a forecast volatility figure, the more an investment could move both up and down over time. 1 Share A 1 Lower volatility Higher volatility Share B Price Price 0 0 Time 5 years Time 5 years Source: Janus Henderson, for illustrative purposes only A simple guide to profiling A SIMPLE GUIDE TO RISK PROFILING (continued) (BGB 10pt) For promotional purposes Investors have a huge choice when it comes to deciding where to place their money. They must consider what their attitude to is and how they might want to diversify their investments. Risk profiled funds allow investors and advisers to match individual attitudes to to investment goals. Risk versus reward How can my attitude to be assessed? Before devising an investment strategy in order to reach your end A financial adviser or online tool can assist you in arriving at your investment goal, you must first establish how much you are willing attitude to and then recommend the most appropriate investments to take. This can depend on: to match your circumstances and needs. Typically categories of attitudes to can range from (1.) being averse to (10.) being Your capacity to recover from losses should the markets fall during your highly adventurous (see example below). investment period Normally your attitude to will be assessed via a detailed questionnaire. The length of time you wish to be invested Don t forget that taking on more can potentially lead to higher rewards but also potentially higher losses. Which investment products you should be invested in Investors have a huge choice when it comes to deciding where to place their money. They must consider what their attitude to is and how they might want to diversify their investments. Risk profiled funds allow investors and advisers to match individual attitudes to to investment goals. Whether cash is more suitable for you What other dependants you have relying on your investment goals i.e. family Some investment products are more y or volatile but can offer greater returns over time, but the reverse is also true: you could potentially suffer greater losses. For example, shares are usually considered to be more y compared to bonds. For the most part, the more you are prepared to take the greater the potential reward, but you must be aware of that before you or your adviser selects your investments. 1. RISK AVERSE 3. LOW RISK 9. VERY HIGH RISK 7. HIGHEST MID RISK 8. HIGH GROWTH 5. LOW MID RISK 6. HIGH MID RISK 4. LOWEST MID RISK 10. HIGHLY ADVENTUROUS INCREASING RETURNS OR POTENTIAL RETURNS 2. VERY LOW RISK DECREASING RISKS A TYPICAL ATTITUDE TO RISK SPECTRUM USED BY A FINANCIAL ADVISER INCREASING RISKS 7

8 Contact us General enquiries: Website: janushenderson.com Important Information Please read all scheme documents before investing. Before entering into an investment agreement in respect of an investment referred to in this document, you should consult your own professional and/or investment adviser. Past performance is not a guide to future performance. he value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor s particular circumstances and may change if those circumstances or the law change. If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially. Nothing in this document is intended to or should be construed as advice. This document is not a recommendation to sell or purchase any investment. It does not form part of any contract for the sale or purchase of any investment. Any investment application will be made solely on the basis of the information contained in the Prospectus (including all relevant covering documents), which will contain investment restrictions. his document is intended as a summary only and potential investors must read the prospectus, and where relevant, the key investor information document before investing. We may record telephone calls for our mutual protection, to improve customer service and for regulatory record keeping purposes. Issued in the UK by Janus Henderson Investors. Janus Henderson Investors is the name under which Janus Capital International Limited (reg no ), Henderson Global Investors Limited (reg. no ), Henderson Investment Funds Limited (reg. no ), AlphaGen Capital Limited (reg. no ), Henderson Equity Partners Limited (reg. no ), (each incorporated and registered in England and Wales with registered office at 201 Bishopsgate, London EC2M 3AE) are authorised and regulated by the Financial Conduct Authority to provide investment products and services. 2018, Janus Henderson Investors. The name Janus Henderson Investors includes HGI Group Limited, Henderson Global Investors (Brand Management) Sarl and Janus International Holding LLC. H034360/0218V2 OEIC