JANUS ASPEN SERIES
Institutional Shares
Supplement Dated December 31, 1999 to Prospectus Dated May 1, 1999
THIS INFORMATION SUPPLEMENTS THE PROSPECTUS FOR THE INSTITUTIONAL SHARES OF
JANUS ASPEN SERIES DATED MAY 1, 1999. THIS SUPPLEMENT, TOGETHER WITH THE
PROSPECTUS, CONSTITUTE A CURRENT PROSPECTUS. TO REQUEST ANOTHER COPY OF THE
PROSPECTUS, PLEASE CONTACT YOUR INSURANCE COMPANY OR PLAN SPONSOR.
The following information should be added to the biographies in the
Investment Personnel/Portfolio Managers' section of the Prospectus.
Effective January 1, 2000, Laurence J. Chang will be co-manager of
Worldwide Growth Portfolio. Prior to serving as co-manager of Worldwide Growth
Portfolio, he served as assistant portfolio manager of Worldwide Growth
Portfolio since 1996 and has co-managed Janus Worldwide Fund since September
1999. Currently, he is Executive Vice President and co-manager of International
Growth Portfolio and Janus Overseas Fund which he has co-managed since May 1998
and April 1998, respectively. He served as assistant portfolio manager for these
funds since 1996. Mr. Chang joined Janus Capital in 1993 after receiving an
undergraduate degree with honors in Religion and Philosophy from Dartmouth
College and a Master's Degree in Political Science from Stanford University. Mr.
Chang is a Chartered Financial Analyst.
Effective January 1, 2000, Blaine P. Rollins will be Executive Vice
President and portfolio manager of Growth Portfolio replacing Jim Craig who
previously managed Growth Portfolio from inception to December 1999. Prior to
serving as manager of Growth Portfolio, Mr. Rollins served as Executive Vice
President and portfolio manager of Balanced Portfolio from May 1996 to December
1999, Equity Income Portfolio from inception to December 1999, and assistant
portfolio manager of Growth Portfolio. Mr. Rollins joined Janus Capital in 1990
and gained experience as a fixed-income trader and equity research analyst prior
to managing Balanced Portfolio. He holds a Bachelor of Science in Finance from
the University of Colorado and is a Chartered Financial Analyst.
Effective January 1, 2000, Karen L. Reidy will be Executive Vice President
and portfolio manager of Equity Income Portfolio and Balanced Portfolio. She
replaces Blaine P. Rollins who previously managed Equity Income Portfolio and
Balanced Portfolio. She is also an assistant portfolio manager of Growth
Portfolio. Prior to joining Janus Capital in 1995, she worked for Price
Waterhouse as a manager in both the Mergers and Acquisitions and Audit business
units. Ms. Reidy performed due diligence work for corporate clients and oversaw
audit engagements. She received an undergraduate degree in Accounting from the
University of Colorado in 1989 and passed the CPA exam in 1992. She is a
Chartered Financial Analyst.
Effective January 1, 2000, John Schreiber will be assistant portfolio
manager of Growth Portfolio, Balanced Portfolio and Equity Income Portfolio. Mr.
Schreiber joined Janus in 1997 as an equity research analyst. Prior to joining
Janus, he was an equity analyst with Fidelity Investments. Mr. Schreiber holds a
Bachelor of Science degree in mechanical engineering from the University of
Washington and a Master of Business Administration from Harvard University. He
is a Chartered Financial Analyst.
The following replaces Classes of Shares in the Other Information section
of the Prospectus:
Each Portfolio currently offers three classes of Shares, one of which, the
Institutional Shares, are offered pursuant to this Prospectus and are sold under
the name Janus Aspen Series. The Shares offered by this Prospectus are available
only in connection with investment in and payments under variable insurance
contracts as well as certain qualified retirement plans. Retirement Shares of
each Portfolio are offered by separate prospectus and are available only to
qualified plans using plan service providers that are compensated for providing
distribution and/or recordkeeping and other administrative services. Service
Shares of each Portfolio are offered by separate prospectus and are available
only in connection with variable insurance contracts and certain qualified
retirement plans offered by entities that require payment for distribution and
shareholder servicing. Because the expenses of each class may differ, the
performance of each class is expected to differ. If you would like additional
information about either Retirement Shares or Service Shares, please call
1-800-525-0200.
AISUP1299
