EXHIBIT 11




January 16, 2003




Janus Investment Fund
100 Fillmore Street
Denver, CO 80206-4928

Ladies and Gentlemen:


         Reference is made to the registration statement on Form N-14 filed on
December 13, 2002 and Pre-Effective Amendment No. 1 to such registration
statement (collectively, the "Registration Statement") with the Securities and
Exchange Commission with respect to shares of beneficial interest, $.01 par
value (the "Shares") of Janus Investment Fund, an unincorporated association of
the type commonly referred to as a Massachusetts business trust (the "Trust"),
representing interests in Janus Strategic Value Fund, a portfolio series of the
Trust, to be issued pursuant to a certain Agreement and Plan of Reorganization
(the "Reorganization Agreement") by the Trust on behalf of each of Janus
Strategic Value Fund and Janus Special Situations Fund, also a portfolio series
of the Trust, dated as of December 10, 2002, described in the Registration
Statement.


         We have examined such records, documents and other instruments and have
made such other examinations and inquiries as we have deemed necessary to enable
us to express the opinion set forth below.

         Based upon and subject to the foregoing, we are of the opinion that the
Shares, when issued in accordance with the terms of the Reorganization
Agreement, will be validly issued, fully paid and non-assessable by the Trust.

         We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement.

                                             Very truly yours,



                                             /s/ GOODWIN PROCTER LLP
                                             GOODWIN PROCTER LLP