JNL Series Trust
06/04/2021 | Press release | Distributed by Public on 06/04/2021 11:58
Filing by Investment Company (SEC Filing - 497)
Supplement Dated June 4, 2021
To The Prospectus Dated April 26, 2021
JNL® Series Trust
Please note that the changes may impact your variable annuity and/or variable life product(s).
Unless otherwise noted, all changes are effective immediately.
Effective April 26, 2021, in the section entitled, 'Summary Overview of Each Fund,' under 'Portfolio Management,' for the JNL Multi-Manager Alternative Fund, JNL Multi-Manager Emerging Markets Equity Fund, JNL Multi-Manager International Small Cap Fund, JNL Multi-Manager Mid Cap Fund, JNL Multi-Manager Small Cap Growth Fund, JNL Multi-Manager Small Cap Value Fund, JNL iShares Tactical Moderate Fund, JNL iShares Tactical Moderate Growth Fund, JNL iShares Tactical Growth Fund, JNL/American Funds Moderate Growth Allocation Fund, JNL/American Funds Growth Allocation Fund, JNL/Vanguard Growth ETF Allocation Fund, JNL/Vanguard Moderate ETF Allocation Fund, JNL/Vanguard Moderate Growth ETF Allocation Fund, JNL Conservative Allocation Fund, JNL Moderate Allocation Fund, JNL Moderate Growth Allocation Fund, JNL Growth Allocation Fund, and JNL Aggressive Growth Allocation Fund, please delete the title for Mark Pliska and replace with, 'Assistant Vice President and Portfolio Manager, JNAM.'
Effective June 1, 2021, in the section entitled, 'Summary Overview of Each Fund,' under 'Portfolio Management,' for the JNL Multi-Manager Alternative Fund, please delete the Portfolio Managers table in the entirety and replace with the following:
| Name: | Joined Fund Management Team In: | Title: |
| William Harding, CFA | April 2015 | Senior Vice President, Chief Investment Officer and Portfolio Manager, JNAM |
| Sean Hynes, CFA, CAIA | April 2015 | Assistant Vice President and Portfolio Manager, JNAM |
| Mark Pliska, CFA | April 2015 | Assistant Vice President and Portfolio Manager, JNAM |
| Joseph F. Feeney, Jr., CFA | April 2017 | Chief Executive Officer and Chief Investment Officer, Boston Partners |
| Paul Korngiebel, CFA | April 2017 | Portfolio Manager, Boston Partners |
| David Kim | June 2021 | Portfolio Manager, Boston Partners |
| Jeffrey E. Gundlach | August 2018 | Chief Executive Officer and Chief Investment Officer, DoubleLine |
| Jeffrey J. Sherman | August 2018 | Deputy Chief Investment Officer, DoubleLine |
| Mark Landecker, CFA | April 2015 | Partner and Portfolio Manager, FPA |
| Steven Romick, CFA | April 2015 | Managing Partner and Portfolio Manager, FPA |
| Brian A. Selmo, CFA | April 2015 | Partner and Portfolio Manager, FPA |
| Chris Wright | April 2021 | Portfolio Manager and Senior Research Analyst, KAR |
| Sean H. Reynolds | April 2015 | Managing Director, Portfolio Manager/Analyst, Lazard |
| Frank Bianco, CFA | April 2015 | Director, Portfolio Manager/Analyst, Lazard |
| Aziz V. Hamzaogullari, CFA | April 2018 | Portfolio Manager, Loomis Sayles |
| Roy D. Behren | March 2016 | Portfolio Manager, Westchester |
| Michael T. Shannon | March 2016 | Portfolio Manager, Westchester |
| S. Kenneth Leech | April 2015 | Chief Investment Officer, Western Asset |
| Prashant Chandran | April 2015 | Portfolio Manager, Western Asset |
In the section entitled, 'Summary Overview of Each Fund,' under 'Performance,' for the JNL/American Funds New World Fund, please delete the Annual Total Returns Tables in the entirety and replace with following:
| Average Annual Total Returns as of 12/31/2020 | ||||||
| 1 year | 5 year | 10 year | ||||
| JNL/American Funds New World Fund (Class A) | 23.06 | % | 12.88 | % | 6.11 | % |
| MSCI All Country World Index (Net) (reflects no deduction for fees, expenses, or taxes) | 16.26 | % | 12.26 | % | 9.13 | % |
| 1 |
| Average Annual Total Returns as of 12/31/2020 | ||||||
| 1 year | 5 year | 10 year | ||||
| JNL/American Funds New World Fund (Class I) | 23.44 | % | 13.19 | % | 6.37 | % |
| MSCI All Country World Index (Net) (reflects no deduction for fees, expenses, or taxes) | 16.26 | % | 12.26 | % | 9.13 | % |
In the section entitled, 'Summary Overview of Each Fund,' under 'Principal Investment Strategies,' for the JNL/Baillie Gifford International Growth Fund, please delete the second paragraph in the entirety and replace with following:
The Fund invests predominantly in securities issued by companies located in countries outside the United States, including a range of developed and emerging market countries. The Fund may, however, invest up to 10% of its net assets in common stocks and other equities of companies located in the United States. Under normal circumstances, the Fund invests in securities of issuers located in at least three countries outside the United States and typically maintains substantial exposure to emerging markets. The Fund may invest in equity securities either directly or indirectly, such as through depositary receipts, and may invest in preferred stocks, convertible securities and warrants. The Fund may invest in issuers of any market capitalization and may participate in initial public offerings ('IPOs') and in securities offerings that are not registered in the United States. In selecting companies for investment, the Fund's sub-adviser, Baillie Gifford Overseas Limited ('Sub-Adviser') generally considers issuers in both developed and emerging markets.
Effective June 30, 2021, in the section entitled, 'Summary Overview of Each Fund,' under 'Portfolio Management,' for the JNL/MFS Mid Cap Value Fund, please delete the Portfolio Managers table in the entirety and replace with the following:
| Name: | Joined Fund Management Team In: | Title: |
| Kevin Schmitz | April 2017 | Investment Officer, MFS |
| Brooks Taylor | April 2017 | Investment Officer, MFS |
| Richard Offen | June 2021 | Investment Officer, MFS |
In the section entitled, 'Summary Overview of Each Fund,' under 'Portfolio Management,' for the JNL/Neuberger Berman Commodity Strategy Fund, please delete the Portfolio Managers table in the entirety and replace with the following:
| Name: | Joined Fund Management Team In: | Title: |
| Hakan Kaya | April 2014 | Managing Director, NBIA |
| Thomas A. Sontag | April 2014 | Managing Director, NBIA |
| David Yi Wan | April 2016 | Senior Vice President, NBIA |
| Michael Foster | May 2021 | Managing Director, NBIA |
In the section entitled, 'Summary Overview of Each Fund,' under 'Performance,' for the JNL/RAFI® Fundamental U.S. Small Cap Fund, please delete the Annual Total Returns Tables in the entirety and replace with following:
| Average Annual Total Returns as of 12/31/2020 | ||||||
| 1 year | 5 year | 10 year | ||||
| JNL/RAFI® Fundamental U.S. Small Cap Fund (Class A) | 8.62 | % | 4.56 | % | 5.85 | % |
| RAFI Fundamental U.S. Small Company Index (reflects no deduction for fees, expenses, or taxes) | 9.23 | % | 10.84 | % | 10.82 | % |
| MSCI USA Small Cap Index (Gross) (reflects no deduction for fees, expenses, or taxes) | 18.90 | % | 13.89 | % | 12.15 | % |
| Average Annual Total Returns as of 12/31/2020 | ||||||
| 1 year | 5 year | 10 year | ||||
| JNL/RAFI® Fundamental U.S. Small Cap Fund (Class I) | 9.02 | % | 4.85 | % | 6.12 | % |
| RAFI Fundamental U.S. Small Company Index (reflects no deduction for fees, expenses, or taxes) | 9.23 | % | 10.84 | % | 10.82 | % |
| MSCI USA Small Cap Index (Gross) (reflects no deduction for fees, expenses, or taxes) | 18.90 | % | 13.89 | % | 12.15 | % |
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In the section entitled, 'Summary Overview of Each Fund,' under 'Expenses,' for the JNL/WMC Government Money Market Fund, please delete the Class I Annual Fund Operating Expenses Table and corresponding endnotes in the entirety and replace with following:
|
Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) |
| Class I | |
| Management Fee | 0.16% |
| Distribution and/or Service (12b-1) Fees | 0.00% |
| Other Expenses1 | 0.10% |
| Total Annual Fund Operating Expenses | 0.26% |
| Less Waiver/Reimbursement2 | 0.11% |
| Total Annual Fund Operating Expenses After Waiver/Reimbursement | 0.15% |
| 1 | 'Other Expenses' include an Administrative Fee of 0.10% which is payable to Jackson National Asset Management, LLC ('JNAM' or 'Adviser'). |
| 2 | JNAM has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit the total operating expenses of each class of shares of the Fund, transactional costs, if any, interest, taxes and dividend and extraordinary expenses, to an annual rate (as a percentage of the average daily net assets of the Fund) equal to or less than the Fund's investment income for the period. The Fund will suspend or reduce 12b-1 fee payments as needed in order to maintain a yield for Class A shares of at least 0%. Any such suspension or reduction will result in a corresponding suspension or reduction of amounts paid by Jackson National Life Distributors LLC ('JNLD') to investment professionals and financial institutions. JNLD may not recapture any suspended or reduced amounts. The fee waiver will continue through April 30, 2022. The fee waiver will automatically renew for additional subsequent one-year terms unless the Board of Trustees approves the elimination of the fee waiver. In addition, when the Fund receives income sufficient to pay a dividend, the Adviser may recapture previously waived fees and expenses for a period of three years. |
In the section entitled, 'Summary Overview of Each Fund,' under 'Portfolio Management,' for the JNL/Goldman Sachs Managed Conservative Fund, JNL/Goldman Sachs Managed Moderate Fund, JNL/Goldman Sachs Managed Growth Fund, JNL/Goldman Sachs Managed Moderate Growth Fund, JNL/Goldman Sachs Managed Growth Fund, and JNL/Goldman Sachs Managed Aggressive Growth Fund, please delete the Portfolio Managers table in the entirety and replace with the following:
| Name: | Joined Fund Management Team In: | Title: |
| Michael Carapucci | 2010 | Vice President, GSAM |
| Neill Nuttall | May 2021 | Managing Director, GSAM |
Effective April 26, 2021, in the section entitled, 'Additional Information About Each Fund,' under 'The Adviser, Sub-Advisers and Portfolio Management' for the JNL Multi-Manager Alternative Fund, JNL Multi-Manager Emerging Markets Equity Fund, JNL Multi-Manager International Small Cap Fund, JNL Multi-Manager Mid Cap Fund, JNL Multi-Manager Small Cap Growth Fund, JNL Multi-Manager Small Cap Value Fund, JNL iShares Tactical Moderate Fund, JNL iShares Tactical Moderate Growth Fund, and JNL iShares Tactical Growth Fund, please delete the paragraph for Mark Pliska in the entirety and replace with following:
Mark Pliska, CFA, is an Assistant Vice President for JNAM. Mr. Pliska is responsible for manager research, portfolio construction, and asset allocation of Funds. Prior to joining JNAM in 2011, Mr. Pliska worked as an Investment Analyst for Plan Sponsor Advisors from 2008 to 2011, where he was responsible for the selection and monitoring of investment managers, client reporting, and asset allocation for defined contribution and defined benefit plans, and prior to that, Mr. Pliska was a Research Analyst for DWM Financial Group from 2006 to 2008. Mr. Pliska is a National Merit Scholar and holds a B.A. in Economics from the University of Kansas.
Effective April 26, 2021, in the section entitled, 'Additional Information About Each Fund,' under 'The Adviser and Portfolio Management,' for the JNL/American Funds Moderate Growth Allocation Fund, JNL/American Funds Growth Allocation Fund, JNL/Vanguard Growth ETF Allocation Fund, JNL/Vanguard Moderate ETF Allocation Fund, JNL/Vanguard Moderate Growth ETF Allocation Fund, JNL Conservative Allocation Fund, JNL Moderate Allocation Fund, JNL Moderate Growth Allocation Fund, JNL Growth Allocation Fund, and JNL Aggressive Growth Allocation Fund, please delete the paragraph for Mark Pliska in the entirety and replace with following:
Mark Pliska, CFA, is an Assistant Vice President for JNAM. Mr. Pliska is responsible for manager research, portfolio construction, and asset allocation of Funds. Prior to joining JNAM in 2011, Mr. Pliska worked as an Investment Analyst for Plan Sponsor Advisors from 2008 to 2011, where he was responsible for the selection and monitoring of investment managers, client reporting, and asset allocation for defined contribution and defined benefit plans, and prior to that, Mr. Pliska was a Research Analyst for DWM Financial Group from 2006 to 2008. Mr. Pliska is a National Merit Scholar and holds a B.A. in Economics from the University of Kansas.
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Effective June 1, 2021, in the section entitled, 'Additional Information About Each Fund,' under 'The Adviser, Sub-Advisers and Portfolio Management' subsection, 'The Sub-Advisers to the JNL Multi-Manager Alternative Fund' please add the following after the ninth paragraph:
David Kim is a portfolio manager for Boston Partners Emerging Markets strategies, including Boston Partners Emerging Markets Equity and Emerging Markets Dynamic Equity. Prior to this role, he was an emerging markets industry analyst with Boston Partners specializing in fundamental research of stocks held in our Emerging Markets Equity portfolios. Prior to Boston Partners he was a private equity associate at Great Hill Partners, specializing within the broader technology sector. Mr. Kim holds a B.A. degree in economics from Amherst College, as well as an M.B.A. degree from Harvard Business School. He has six years of investment experience.
In the section entitled, 'Additional Information About Each Fund,' under 'Principal Investment Strategies,' for the JNL/Baillie Gifford International Growth Fund, please delete the second paragraph in the entirety and replace with following:
The Fund invests predominantly in securities issued by companies located in countries outside the United States, including a range of developed and emerging market countries. The Fund may, however, invest up to 10% of its net assets in common stocks and other equities of companies located in the United States. Under normal circumstances, the Fund invests in securities of issuers located in at least three countries outside the United States and typically maintains substantial exposure to emerging markets. The Fund may invest in equity securities either directly or indirectly, such as through depositary receipts, and may invest in preferred stocks, convertible securities and warrants. The Fund may invest in issuers of any market capitalization and may participate in initial public offerings ('IPOs') and in securities offerings that are not registered in the United States. In selecting companies for investment, the Fund's sub-adviser, Baillie Gifford Overseas Limited ('Sub-Adviser') generally considers issuers in both developed and emerging markets. The Fund will aim to remain fully invested in equities, holding cash and cash equivalents primarily during periods of investment reallocation, or as a result of purchases of or redemptions from the Fund.
Effective June 30, 2021, in the section entitled, 'Additional Information About Each Fund,' under 'The Sub-Adviser and Portfolio Management,' for the JNL/MFS Mid Cap Value Fund, please add the following after the third paragraph:
Richard Offen, an Investment Officer of MFS, has co-managed the Fund since June 2021. He has been employed in the investment area of MFS since 2011.
In the section entitled, 'Additional Information About Each Fund,' under 'The Sub-Adviser and Portfolio Management' for the JNL/Neuberger Berman Commodity Strategy Fund, please add the following after fifth paragraph:
Michael Foster is a Managing Director of the Manager. He has been a Portfolio Manager of the Fund since May 2021. Mr. Foster has been a portfolio manager at the firm since 2004.
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In the section entitled, 'Additional Information About Each Fund,' under 'Principal Investment Strategies,' for the JNL/Goldman Sachs Managed Conservative Fund, JNL/Goldman Sachs Managed Moderate Fund, JNL/Goldman Sachs Managed Moderate Growth Fund, JNL/Goldman Sachs Managed Growth Fund, JNL/Goldman Sachs Managed Aggressive Growth Fund, JNL Conservative Allocation Fund, JNL Moderate Allocation Fund, JNL Moderate Growth Allocation Fund, JNL Growth Allocation Fund, and JNL Aggressive Growth Allocation Fund, under the heading 'Alternative Assets,' please delete the JNL/Morningstar PitchBook Listed Private Equity Index Fund from the Underlying Funds table.
In the section entitled, 'Additional Information About Each Fund,' under 'The Sub-Adviser and Portfolio Management,' for the JNL/Goldman Sachs Managed Conservative Fund, JNL/Goldman Sachs Managed Moderate Fund, JNL/Goldman Sachs Managed Growth Fund, JNL/Goldman Sachs Managed Moderate Growth Fund, JNL/Goldman Sachs Managed Growth Fund, and JNL/Goldman Sachs Managed Aggressive Growth Fund, please delete the second through fourth paragraphs in the entirety and replace with the following:
Neill Nuttall and Michael Carapucci share the primary responsibility for the development of the investment allocations of Fund.
Mr. Nuttall is the chief investment officer of the Multi-Asset Solutions (MAS) Group within Goldman Sachs Asset Management. The MAS Group provides multi-asset class products and solutions for institutional and individual investors, focusing on customized asset allocation, tactical implementation, risk management and portfolio construction. Mr. Nuttall joined Goldman Sachs as a managing director in Asset Management in 2014. Prior to joining the firm, he worked for almost 30 years at JPMorgan Asset Management (JPMAM) and its heritage firms, based for 14 years in Hong Kong and subsequently in London. From 2006, Mr. Nuttall served as chief investment officer and head of JPMAM's Global Multi Asset Group (GMAG) and later as head of Asset Allocation for GMAG. Prior to joining GMAG, Mr. Nuttall served as a managing director and senior strategist within JPMAM's Currency Group. Previous roles included senior investing positions at Jardine Fleming Investment Management in the International Multi-Asset Portfolios Group. Prior to joining, JPMAM, Mr. Nuttall worked for Standard Chartered Bank in Hong Kong and Thailand. Neill earned a BA (Hons) in Politics from the University of Exeter.
This Supplement is dated June 4, 2021.
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Supplement Dated June 4, 2021
To The Statement of Additional Information
Dated April 26, 2021
JNL® Series Trust
Please note that the changes may impact your variable annuity and/or variable life product(s).
Unless otherwise noted, all changes are effective immediately.
Effective June 1, 2021, on page 185, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Boston Partner Global Investors, Inc., under 'Other Accounts Managed by the Portfolio Managers and Potential Conflicts of Interest,' please delete the table in the entirety and replace with the following, which reflects information as of March 31, 2021:
| Performance Fee Accounts | |||||
| Portfolio Manager | Category of Account | # of Accounts | AUM | # of Accounts | AUM |
| Joseph F. Feeney, Jr., CFA | Other Registered Investment Companies | 9 | $21.7 billion | 0 | $0 |
| Other Pooled Vehicles | 1 | $1.5 billion | 0 | $0 | |
| Other Accounts | 36 | $5.0 billion | 1 | $27 million | |
| Paul Korngiebel, CFA | Other Registered Investment Companies | 2 | $95 million | 0 | $0 |
| Other Pooled Vehicles | 0 | $0 | 0 | $0 | |
| Other Accounts | 0 | $0 | 0 | $0 | |
| David Kim | Other Registered Investment Companies | 2 | $95 million | 0 | $0 |
| Other Pooled Vehicles | 0 | $0 | 0 | $0 | |
| Other Accounts | 0 | $0 | 0 | $0 |
Effective June 1, 2021, on page 186, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Boston Partner Global Investors, Inc., under 'Security Ownership of Portfolio Managers for the JNL Multi-Manager Alternative Fund as of December 31, 2020,' please delete the table in the entirety and replace with the following:
Security Ownership of Portfolio Managers for the JNL Multi-Manager Alternative Fund as of March 31, 2021
| Security Ownership of Portfolio Managers |
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 |
| Joseph F. Feeney, Jr. | X | ||||||
| Paul Korngiebel, CFA | X | ||||||
| David Kim | X |
| 1 |
On page 215, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Goldman Sachs Asset Management, L.P., under 'Other Accounts Managed by the Portfolio Managers and Potential Conflicts of Interest,' please delete the first table in the entirety and replace with the following, which reflects information as of March 31, 2021:
| Performance Fee Accounts | |||||
| Portfolio Manager | Category of Account | # of Accounts | AUM | # of Accounts | AUM |
| Michael Carapucci | Other Registered Investment Companies | 5 | $5.17 billion | 0 | $0 |
| Other Pooled Vehicles | 0 | $0 | 0 | $0 | |
| Other Accounts | 0 | $0 | 0 | $0 | |
| Neill Nuttall | Other Registered Investment Companies | 26 | $14.57 billion | 0 | $0 |
| Other Pooled Vehicles | 20 | $7.62 billion | 0 | $0 | |
| Other Accounts | 95 | $129.06 billion | 2 | $4.13 billion |
On page 217, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Goldman Sachs Asset Management, L.P. under 'Security Ownership of Portfolio Managers for the JNL/Goldman Sachs Managed Growth Fund, JNL/Goldman Sachs Managed Conservative Fund, JNL/Goldman Sachs Managed Moderate Growth Fund, JNL/Goldman Sachs Managed Moderate Fund, and JNL/Goldman Sachs Managed Aggressive Growth Fund as of December 31, 2020,' please delete the table and the heading in the entirety and replace with the following:
Security Ownership of Portfolio Managers for the JNL/Goldman Sachs Managed Growth Fund, JNL/Goldman Sachs Managed Conservative Fund, JNL/Goldman Sachs Managed Moderate Growth Fund, JNL/Goldman Sachs Managed Moderate Fund, and JNL/Goldman Sachs Managed Aggressive Growth Fund as of March 31, 2021
| Security Ownership of Portfolio Managers |
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 |
| Michael Carapucci | X | ||||||
| Neill Nuttall | X |
Effective June 30, 2021, on page 243, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Massachusetts Financial Services Company (dba MFS Investment Management), under 'Portfolio Manager Compensation,' please delete fifth paragraph and corresponding table in the entirety and replace with the following:
The quantitative portion is primarily based on the pre-tax performance of accounts managed by the portfolio manager over a range of fixed-length time periods, intended to provide the ability to assess performance over time periods consistent with a full market cycle and a strategy's investment horizon. The fixed-length time periods include the portfolio manager's full tenure on each fund and, when available, ten-, five-, and three-year periods. For portfolio managers who have served for less than three years, shorter-term periods, including the one-year period, will also be considered, as will performance in previous roles, if any, held at the firm. Emphasis is generally placed on longer performance periods when multiple performance periods are available. Performance is evaluated across the full set of strategies and portfolios managed by a given portfolio manager, relative to appropriate peer group universes and/or representative indices ('benchmarks'). As of December 31, 2020, the following benchmarks were used to measure the following portfolio managers' performance for the following Fund:
| Fund/Portfolio Managers | Benchmark(s) |
| JNL/MFS Mid Cap Value Fund | |
| Kevin Schmitz | MSCI USA Mid Cap Value Index (gross div) |
| Brooks Taylor | MSCI USA Mid Cap Value Index (gross div) |
| Richard Offen | Russell Midcap® Value Index |
| 2 |
Effective June 30, 2021, on page 243, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Massachusetts Financial Services Company (dba MFS Investment Management), under 'Other Accounts Managed by the Portfolio Managers and Potential Conflicts of Interest,' please delete the table in the entirety and replace with the following, which reflects information as of April 30, 2021:
JNL/MFS Mid Cap Value Fund
| Performance Fee Accounts | |||||
| Portfolio Manager | Category of Account | # of Accounts | AUM | # of Accounts | AUM |
| Kevin Schmitz | Other Registered Investment Companies | 9 | $23.7 billion | 0 | $0 |
| Other Pooled Vehicles | 0 | $0 | 0 | $0 | |
| Other Accounts | 4 | $123.3 million | 0 | $0 | |
| Brooks Taylor | Other Registered Investment Companies | 10 | $23.7 billion | 0 | $0 |
| Other Pooled Vehicles | 0 | $0 | 0 | $0 | |
| Other Accounts | 4 | $123.3 million | 0 | $0 | |
| Richard Offen | Other Registered Investment Companies | 4 | $6.3 billion | 0 | $0 |
| Other Pooled Vehicles | 0 | $0 | 0 | $0 | |
| Other Accounts | 0 | $0 | 0 | $0 |
Effective June 30, 2021, on page 244, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Massachusetts Financial Services Company (dba MFS Investment Management), under 'Security Ownership of Portfolio Managers for the JNL/MFS Mid Cap Value Fund as of December 31, 2020,' please delete the table in the entirety and replace with the following:
Security Ownership of Portfolio Managers for the JNL/MFS Mid Cap Value Fund as of April 30, 2021
| Security Ownership of Portfolio Managers |
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 |
| Kevin Schmitz | X | ||||||
| Brooks Taylor | X | ||||||
| Richard Offen | X |
On page 249, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Neuberger Berman Investment Advisers LLC, under 'Other Accounts Managed by the Portfolio Managers and Potential Conflicts of Interest,' please delete the table for the JNL/Neuberger Berman Commodity Strategy Fund in the entirety and replace with the following, which reflects information as of March 31, 2021:
| Performance Fee Accounts | |||||
| Portfolio Manager | Category of Account | # of Accounts | AUM | # of Accounts | AUM |
| Hakan Kaya | Other Registered Investment Companies | 2 | $151 million | 0 | $0 |
| Other Pooled Vehicles | 3 | $1.15 billion | 0 | $0 | |
| Other Accounts | 0 | $0 | 0 | $0 |
| 3 |
| Performance Fee Accounts | |||||
| Portfolio Manager | Category of Account | # of Accounts | AUM | # of Accounts | AUM |
| Thomas Sontag | Other Registered Investment Companies | 6 | $1.74 billion | 0 | $0 |
| Other Pooled Vehicles | 12 | $850 million | 0 | $0 | |
| Other Accounts | 11 | $6.71 billion | 0 | $0 | |
| David Yi Wan | Other Registered Investment Companies | 2 | $151 million | 0 | $0 |
| Other Pooled Vehicles | 3 | $1.15 billion | 0 | $0 | |
| Other Accounts | 0 | $0 | 0 | $0 | |
| Michael Foster | Other Registered Investment Companies | 3 | $174 million | 0 | $0 |
| Other Pooled Vehicles | 2 | $124 million | 0 | $0 | |
| Other Accounts | 112 | $9.81 billion | 0 | $0 |
On page 250, in the section entitled, 'Investment Adviser, Sub-Advisers and Other Service Providers,' for Neuberger Berman Investment Advisers LLC, under 'Security Ownership of Portfolio Managers for the JNL/Neuberger Berman Commodity Strategy Fund as of December 31, 2020,' please delete the table in the entirety and replace with the following:
Security Ownership of Portfolio Managers for the JNL/Neuberger Berman Commodity Strategy Fund as of March 31, 2021
| Security Ownership of Portfolio Managers |
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 |
| Hakan Kaya | X | ||||||
| Thomas Sontag | X | ||||||
| David Yi Wan | X | ||||||
| Michael Foster | X |
This Supplement is dated June 4, 2021.
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