04/29/2024 | Press release | Distributed by Public on 04/29/2024 06:35
Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
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Class A1
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Management Fee
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0.79%
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Distribution and/or Service (12b-1) Fees
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0.30%
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Other Expenses2
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0.12%
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Total Annual Fund Operating Expenses
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1.21%
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Less Waiver/Reimbursement3
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0.30%
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Total Annual Fund Operating Expenses After Waiver/Reimbursement
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0.91%
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1
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The fee table and the example reflect the expenses of both the Fund and the Master Fund.
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2
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"Other Expenses" include an Administrative Fee of 0.09% which is payable to Jackson National Asset Management, LLC ("JNAM" or "Adviser").
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3
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JNAM has entered into a contractual agreement with the Fund under which it will waive a portion of its management fee for such time as the Fund is operated as a Feeder Fund, because during that time, the Adviser will not be providing the portfolio management portion of the advisory and management services. This fee waiver will continue as long as the Fund is part of a master-feeder fund structure, but in any event, the waiver will continue for at least one year from the date of this Prospectus, and continue thereafter unless the Board of Trustees approves a change in or elimination of the waiver.
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Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
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Class I1
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|
Management Fee
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0.79%
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Distribution and/or Service (12b-1) Fees
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0.00%
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Other Expenses2
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0.12%
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Total Annual Fund Operating Expenses
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0.91%
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Less Waiver/Reimbursement3
|
0.30%
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Total Annual Fund Operating Expenses After Waiver/Reimbursement
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0.61%
|
1
|
The fee table and the example reflect the expenses of both the Fund and the Master Fund.
|
2
|
"Other Expenses" include an Administrative Fee of 0.09% which is payable to Jackson National Asset Management, LLC ("JNAM" or "Adviser").
|
3
|
JNAM has entered into a contractual agreement with the Fund under which it will waive a portion of its management fee for such time as the Fund is operated as a Feeder Fund, because during that time, the Adviser will not be providing the portfolio management portion of the advisory and management services. This fee waiver will continue as long as the Fund is part of a master-feeder fund structure, but in any event, the waiver will continue for at least one year from the date of this Prospectus, and continue thereafter unless the Board of Trustees approves a change in or elimination of the waiver.
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JNL/American Funds Growth-Income Fund Class A
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|||
1 year
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3 years
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5 years
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10 years
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$93
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$354
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$636
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$1,439
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JNL/American Funds Growth-Income Fund Class I
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|||
1 year
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3 years
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5 years
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10 years
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$62
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$260
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$475
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$1,092
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Period
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Master Fund
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1/1/2023 - 12/31/2023
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26%
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•
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Accounting risk - The Master Fund bases investment selections, in part, on information drawn from the financial statements of issuers. Financial statements may not be accurate, may reflect differing approaches with respect to auditing and reporting standards and may affect the ability of the Master Fund's investment manager to identify appropriate investment opportunities.
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•
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Company risk - Investments in U.S. and/or foreign-traded equity securities may fluctuate more than the values of other types of securities in response to changes in a particular company's financial condition.
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•
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Currency risk - Investments in foreign currencies, securities that trade in or receive revenues in foreign currencies, or derivatives that provide exposure to foreign currencies are subject to the risk that those currencies may decline in value or, in the case of hedging positions, that the currency may decline in value relative to the currency being hedged. Currency exchange rates can be volatile and may be affected by a number of factors, such as the general economics of a country, the actions (or inaction) of U.S. and foreign governments or central banks, the imposition of currency controls, and speculation. A decline in the value of a foreign currency versus the U.S. dollar reduces the value in U.S. dollars of investments denominated in that foreign currency.
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•
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Equity securities risk - Common and preferred stocks represent equity ownership in a company. Stock markets are volatile, and equity securities generally have greater price volatility than fixed-income securities. The price of equity or equity-related securities will fluctuate and can decline and reduce the value of a portfolio investing in equity or equity-related securities. The value of equity or equity-related securities purchased or held by the Fund could decline if the financial condition of the companies the Fund invests in decline or if overall market and economic conditions deteriorate. They may also decline due to factors that affect a particular industry or industries, such as labor shortages or an increase in production costs and competitive conditions within an industry. In addition, they may decline due to general market conditions that are not specifically related to a company or industry, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, changes in interest or currency rates or generally adverse investor sentiment.
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•
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Financial services risk - An investment in issuers in the financial services sector may be adversely affected by, among other things: (i) changes in the regulatory framework or interest rates that may negatively affect financial service businesses; (ii) exposure of a financial institution to a non-diversified or concentrated loan portfolio; (iii) exposure to financial leverage and/or investments or agreements which, under certain circumstances, may lead to losses (e.g., sub-prime loans); and (iv) the risk that a market shock or other unexpected market, economic, political, regulatory, public health or other event might lead to a sudden decline in the values of most or all companies in the financial services sector.
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•
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Foreign securities risk - Investments in, or exposure to, foreign securities involve risks not typically associated with U.S. investments. These risks include, among others, adverse fluctuations in foreign currency values, possible imposition of foreign withholding or other taxes on income payable on the securities, as well as adverse political, social and economic developments, such as political upheaval, acts of terrorism, financial troubles, sanctions or the threat of new or modified sanctions, or natural disasters. Many foreign securities markets, especially those in emerging market countries, are less stable, smaller, less liquid, and less regulated than U.S. securities markets, and the costs of trading in those markets is often higher than in U.S. securities markets. There may also be less publicly available information about issuers of foreign securities compared to issuers of U.S. securities. In addition, the economies of certain foreign markets may not compare favorably with the economy of the United States with respect to issues such as growth of gross national product, reinvestment of capital, resources and balance of payments position.
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•
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Investment style risk - The returns from a certain investment style may be lower than the returns from the overall stock market. Growth stock prices frequently reflect projections of future earnings or revenues, and if earnings growth expectations are not met, their stock prices will likely fall, which may reduce the value of a Fund's investment in those stocks. Over market cycles, different investment styles may sometimes outperform other investment styles (for example, growth investing may outperform value investing).
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•
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Issuer risk - The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the market as a whole. A security's value may decline for reasons that directly relate to the issuer, such as management performance, corporate governance, financial leverage and reduced demand for the issuer's goods or services.
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•
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Large-capitalization investing risk -Large-capitalization stocks as a group could fall out of favor with the market, which may cause the Fund to underperform funds that focus on other types of stocks.
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•
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Managed portfolio risk - As an actively managed portfolio, the Master Fund's portfolio manager(s) make decisions to buy and sell holdings in the Master Fund's portfolio. Because of this, the value of the Master Fund's investments could decline because the financial condition of an issuer may change (due to such factors as management performance, reduced demand or overall market changes), financial markets may fluctuate or overall prices may decline, the Master Fund's Adviser's investment techniques could fail to achieve the Master Fund's investment objective or negatively affect the Master Fund's investment performance, or legislative, regulatory, or tax developments may affect the investment techniques available to the Adviser of the Master Fund. There is no guarantee that the investment objective of the Fund will be achieved.
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•
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Mid-capitalization investing risk - The stocks of mid-capitalization companies can be more volatile and their shares can be less liquid than those of larger companies. Mid-capitalization companies may have limited product lines, markets or financial resources or may depend on the expertise of a few people and may be subject to more abrupt or erratic market movements than securities of larger, more established companies or the market averages in general. Securities of such issuers may lack sufficient market liquidity to effect sales at an advantageous time or without a substantial drop in price.
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•
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Market risk - Portfolio securities may decline in value due to factors affecting securities markets generally, such as real or perceived adverse economic, political, or regulatory conditions, inflation, changes in interest or currency rates or adverse investor sentiment, public health issues, including widespread disease and virus epidemics or pandemics, war, terrorism or natural disasters, among others. Adverse market conditions may be prolonged and may not have the same impact on all types of securities. The values of securities may fall due to factors affecting a particular issuer, industry or the securities market as a whole.
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•
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Stock risk - Stock markets may experience significant short-term volatility and may fall sharply at times. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets. The prices of individual stocks generally do not all move in the same direction at the same time and a variety of factors can affect the price of a particular company's stock.
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Average Annual Total Returns as of 12/31/2023
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||||||
1 year
|
5 year
|
10 year
|
||||
JNL/American Funds Growth-Income Fund (Class A)
|
25.67
|
%
|
12.93
|
%
|
10.48
|
%
|
S&P 500 Index (reflects no deduction for fees, expenses, or taxes)
|
26.29
|
%
|
15.69
|
%
|
12.03
|
%
|
Average Annual Total Returns as of 12/31/2023
|
||||||
1 year
|
5 year
|
10 year
|
||||
JNL/American Funds Growth-Income Fund (Class I)
|
26.03
|
%
|
13.27
|
%
|
10.77
|
%
|
S&P 500 Index (reflects no deduction for fees, expenses, or taxes)
|
26.29
|
%
|
15.69
|
%
|
12.03
|
%
|
Name:
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Joined Fund Management Team In:
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Title:
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Charles E. Ellwein
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May 2020
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Partner, Capital Research Global Investors, CRMC
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J. Blair Frank
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2010
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Partner, Capital Research Global Investors, CRMC
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Keiko McKibben
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July 2018
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Partner, Capital Research Global Investors, CRMC
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Donald D. O'Neal
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2010
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Partner, Capital International Investors, CRMC
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William L. Robbins
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May 2012
|
Partner, Capital International Investors, CRMC
|
Carlos A. Schonfeld
|
April 2021
|
Partner, Capital International Investors, CRMC
|