JANUS INVESTMENT FUND
497, 1996-12-27
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                             JANUS INVESTMENT FUND

                               JANUS VENTURE FUND

     Supplement dated January 1, 1997 to Prospectus dated February 18, 1996


Effective  January 1, 1997, James P. Goff will be the sole portfolio manager for
Janus Venture Fund.  Mr. Goff joined Janus Capital  Corporation  in 1988 and has
co-managed  Janus  Venture Fund since  December  1993. He also has managed Janus
Enterprise Fund since  inception.  He holds a Bachelor of Arts in Economics from
Yale University and is a Chartered Financial Analyst (C.F.A.).



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