Exhibit 4(bbbbb)

                                     Form of

                                  AMENDMENT TO

                              JANUS INVESTMENT FUND

                          INVESTMENT ADVISORY AGREEMENT

                          JANUS RISK-MANAGED STOCK FUND

     THIS AMENDMENT is made this 28th day of February, 2006, between JANUS
INVESTMENT FUND, a Massachusetts business trust (the "Trust"), and JANUS CAPITAL
MANAGEMENT LLC, a Delaware limited liability company ("JCM").

                                   WITNESSETH

     WHEREAS, the Trust and JCM are parties to an Investment Advisory Agreement
on behalf of Janus Risk-Managed Stock Fund (the "Fund"), dated July 1, 2004, and
amended January 1, 2006 (the "Agreement");

     WHEREAS, the parties desire to amend the Agreement as set forth in greater
detail below;

     WHEREAS, pursuant to Section 11 of the Agreement, any amendment to the
Agreement is subject to approval (i) by a majority of the Trustees, including a
majority of the Trustees who are not interested persons (as that phrase is
defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended
(the "1940 Act")) of any party to the Agreement, and (ii) if required by
applicable law, by the affirmative vote of a majority of the outstanding voting
securities of the Fund (as that phrase is defined in Section 2(a)(42) of the
1940 Act);

     WHEREAS, the parties have obtained Trustee approval as set forth above, and
the parties agree that a shareholder vote is not required to amend the
Agreement; and

     WHEREAS, the name of Janus Risk-Managed Stock Fund has been changed to
INTECH Risk-Managed Stock Fund;

     NOW, THEREFORE, in consideration of the premises and of the mutual
agreements set forth below, the parties agree to amend the Agreement as follows:

     1. All references to "Janus Risk-Managed Stock Fund" shall be replaced with
"INTECH Risk-Managed Stock Fund."

     2. The parties acknowledge that the Agreement, as amended, remains in full
force and effect as of the date of this Amendment, and that this Amendment,
together with the Agreement and any prior amendments, contains the entire
understanding and the full and complete agreement of the parties and supercedes
and replaces any prior understandings and agreements among the parties
respecting the subject matter hereof.



     3. This Amendment may be contemporaneously executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, the parties have caused their duly authorized officers
to execute this Amendment as of the date first above written.

                                        JANUS CAPITAL MANAGEMENT LLC


                                        By:
                                            ------------------------------------
                                            David R. Martin
                                            Chief Financial Officer and
                                            Executive Vice President


                                        JANUS INVESTMENT FUND


                                        By:
                                            ------------------------------------
                                            Kelley Abbott Howes
                                            President and Chief
                                            Executive Officer