EXHIBIT 16(b)

                           JANUS ADVISER (THE "TRUST")

                                POWER OF ATTORNEY


            KNOW ALL MEN BY THESE PRESENTS, the undersigned hereby makes,
constitutes and appoints Thomas A. Early, Loren M. Starr, and Kelly Abbott
Howes, and each of them, severally, his true and lawful attorneys and agents in
his name, place and stead to execute for and on his behalf any and all filings
and amendments to any Registration Statement on Form N-1A or on Form N-14, each
under the Securities Act of 1933 and the Investment Company Act of 1940, and any
other documents and instruments incidental thereto, and to deliver and file the
same, with all exhibits thereto, and all documents and instruments in connection
therewith, with the Securities and Exchange Commission and the various States,
if applicable, granting unto said attorneys and agents, and each of them, full
power and authority to do and perform each and every act and thing that said
attorneys and agents, and each of them, deem advisable or necessary to enable
the Trust to effectuate the intents and purposes hereof, hereby ratifying and
confirming all actions of any said attorneys hereunder, provided that this Power
of Attorney is ratified to be effective by the Trustees with respect to each
filing of each such Registration Statement and all amendments, consents and
exhibits thereto. Said attorneys may act jointly or severally, and the action of
one shall bind the undersigned as fully as if two or more had acted together.

         IN WITNESS WHEREOF, the undersigned has hereunto set his hand as of
this 5th day of August, 2003.


<Table>
<Caption>
Signature                            Title                    Date
- ---------                            -----                    ----
                                                        

/s/ Samuel Boyd, Jr.                 Trustee                  August 5, 2003
- ----------------------------
Samuel Boyd, Jr.
</Table>