JANUS INVESTMENT FUND
SUPPLEMENT DATED DECEMBER 21, 1995
TO PROSPECTUS DATED FEBRUARY 15, 1995
Effective January 1, 1996, Janus Capital Corporation will implement several
changes in portfolio managers. Blaine P. Rollins will assume the management
responsibilities from James P. Craig for Janus Balanced Fund. Mr. Rollins joined
Janus in 1990 and has gained experience as a trader and research analyst prior
to assuming management responsibility for Janus Balanced Fund. He holds a
Bachelor of Science in Finance from the University of Colorado and is a
Chartered Financial Analyst (C.F.A.). Mr. Craig will continue to manage Janus
Fund.
Sandy R. Rufenacht will assume the management responsibilities from Ronald V.
Speaker for Janus Short-Term Bond Fund and Janus Intermediate Government
Securities Fund. Mr. Rufenacht joined Janus in 1990 and has gained experience as
a trader and research analyst prior to assuming management responsibility for
Janus Short-Term Bond Fund and Janus Intermediate Government Securities Fund. He
holds a Bachelor of Arts in Business from the University of Northern Colorado.
Darrell W. Watters will assume the management responsibilities from Mr. Speaker
for Janus Federal Tax-Exempt Fund. Mr. Watters joined Janus in 1993 as a
municipal bond trader and analyst prior to assuming management responsibility
for Janus Federal Tax-Exempt Fund. He holds a Bachelor of Arts in Economics from
Colorado State University. Mr. Speaker will continue to manage Janus Flexible
Income Fund and Janus High-Yield Fund.
The changes described above modify the "Investment Personnel" section of the
prospectus.
