JANUS INVESTMENT FUND
497, 1997-08-12
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                              JANUS INVESTMENT FUND
                          JANUS GROWTH AND INCOME FUND

    Supplement dated August 12, 1997 to Prospectus dated February 17, 1997


THIS  SUPPLEMENT IS INTENDED TO BE USED WITH THE  PROSPECTUS  DATED FEBRUARY 17,
1997. THIS SUPPLEMENT, TOGETHER WITH THE PROSPECTUS PREVIOUSLY FURNISHED TO YOU,
CONSTITUTE A CURRENT  PROSPECTUS.  TO REQUEST  ANOTHER  COPY OF THE  PROSPECTUS,
PLEASE CALL 1-800-525-3713.

Effective  August 12,  1997,  Thomas F.  Marsico is no longer  employed by Janus
Capital  Corporation,  investment  adviser to the Janus funds. David Corkins has
been appointed portfolio manager of Janus Growth and Income Fund.

Mr. Corkins joined Janus in 1995 as a research analyst  specializing in domestic
financial  services companies and a variety of foreign  industries.  Mr. Corkins
was most recently an assistant portfolio manager of Janus Mercury Fund. Prior to
joining Janus, Mr. Corkins was the Chief Financial  Officer of Chase Manhattan's
mortgage  business.  Mr.  Corkins  has a Bachelor of Arts in English and Russian
from Dartmouth and received his Master in Business  Administration from Columbia
University in 1993.



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