04/29/2024 | Press release | Distributed by Public on 04/29/2024 06:40
Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
|
Class A1
|
|
Management Fee
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0.93%
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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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0.14%
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Total Annual Fund Operating Expenses
|
1.37%
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Less Waiver/Reimbursement3
|
0.44%
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Total Annual Fund Operating Expenses After Waiver/Reimbursement
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0.93%
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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 0.10% 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) |
|
Class I1
|
|
Management Fee
|
0.93%
|
Distribution and/or Service (12b-1) Fees
|
0.00%
|
Other Expenses2
|
0.14%
|
Total Annual Fund Operating Expenses
|
1.07%
|
Less Waiver/Reimbursement3
|
0.44%
|
Total Annual Fund Operating Expenses After Waiver/Reimbursement
|
0.63%
|
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 0.10% 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® Washington Mutual Investors Fund Class A
|
|||
1 year
|
3 years
|
5 years
|
10 years
|
$95
|
$390
|
$708
|
$1,608
|
JNL/American Funds® Washington Mutual Investors Fund Class I
|
|||
1 year
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3 years
|
5 years
|
10 years
|
$64
|
$297
|
$547
|
$1,266
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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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29%
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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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•
|
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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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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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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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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Portfolio turnover risk - Frequent changes in the securities held by the Master Fund, including investments made on a shorter-term basis or in derivative instruments or in instruments with a maturity of one year or less at the time of acquisition, may increase transaction costs, which may reduce performance.
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Average Annual Total Returns as of 12/31/2023
|
||||||
1 year
|
5 year
|
10 year
|
||||
JNL/American Funds® Washington Mutual Investors Fund (Class A)
|
16.88
|
%
|
12.20
|
%
|
9.52
|
%
|
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® Washington Mutual Investors Fund (Class I)
|
17.25
|
%
|
12.54
|
%
|
9.82
|
%
|
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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Aline Avzaradel
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April 2024
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Partner, Capital International Investors, CRMC
|
Alan N. Berro
|
April 2021
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Partner, Capital World Investors, CRMC
|
Mark L. Casey
|
April 2021
|
Partner, Capital International Investors, CRMC
|
Irfan M. Furniturewala
|
April 2021
|
Partner, Capital International Investors, CRMC
|
Emme Kozloff
|
May 2022
|
Partner, Capital World Investors, CRMC
|
Jin Lee
|
April 2021
|
Partner, Capital World Investors, CRMC
|
Eric H. Stern
|
April 2021
|
Partner, Capital International Investors, CRMC
|
Diana Wagner
|
April 2021
|
Partner, Capital World Investors, CRMC
|
Alan J. Wilson
|
April 2021
|
Partner, Capital World Investors, CRMC
|