Amendment to Investment Sub-Advisory Agreement Between Jackson National Asset Management, LLC and Standard & Poor’s Investment Advisory Services LLC
EX 99.28(d)(230)
Amendment
to
Between
Xxxxxxx National Asset Management, LLC
and
Standard & Poor’s Investment Advisory Services LLC
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser (“Adviser”), and Standard & Poor’s Investment Advisory Services LLC, a Delaware corporation and registered investment adviser (“Sub-Adviser”).
Whereas, the Adviser and the Sub-Adviser entered into an Investment Sub-Advisory Agreement dated as of January 31, 2001 (“Agreement”), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios of JNL Series Trust (“Trust”).
Whereas, pursuant to the Agreement, the Adviser agreed to pay the Sub-Adviser for the services provided and the expenses assumed by the Sub-Advisor a sub-advisory fee as set forth on Schedule B to the Agreement, and the Sub-Adviser agreed to accept such sub-advisory fee as full compensation under the Agreement for such services and expenses.
Whereas, the Adviser and the Sub-Adviser have agreed to fee reductions for the funds sub-advised by the Sub-Adviser under the Agreement.
Whereas, in order to reflect these fee reductions, Schedule B to the Agreement must be amended.
Now Therefore, in consideration of the mutual covenants herein contained, the parties hereby agree to amend the Agreement as follows:
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1.
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Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated December 1, 2011, attached hereto.
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2.
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Effective December 31, 2013, the fee schedule for “Group 1” Funds will revert to the fee schedule in effect prior to December 1, 2011.
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3.
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Effective December 31, 2012, the fee schedule for “Group 2” Funds will revert to the fee schedule in effect prior to December 1, 2011.
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In Witness Whereof, the Adviser and the Sub-Adviser have caused this Amendment to be executed as of November 30, 2011, effective as of December 1, 2011.
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Xxxxxxx national asset Management, llc
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Standard & Poor’s Investment Advisory Services LLC
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By: /s/ Xxxx X. Xxxxx
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By: /s/ W. Xxxxxxx Xxxxxxxxxx
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Name: Xxxx X. Xxxxx
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Name: W. Xxxxxxx Xxxxxxxxxx
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Title: President and CEO
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Title: President, SPIAS
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Date: November 30, 2011
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Date: 11/25/2011
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SCHEDULE B
December 1, 2011
(Compensation)
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Funds
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Group 1:
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JNL/S&P Managed Growth Fund
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JNL/S&P Managed Conservative Fund
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JNL/S&P Managed Moderate Growth Fund
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JNL/S&P Managed Moderate Fund
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JNL/S&P Managed Aggressive Growth Fund
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Assets
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Annual Rate
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Effective December 1, 2011:
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All Assets
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0.02%
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Effective December 31, 2013:
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$0 to $2.5 Billion
Over $2.5 Billion
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0.05%
0.04%
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The assets of the funds are aggregated for purposes of calculating the sub-advisory fee.
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Group 2:
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JNL/S&P Competitive Advantage Fund
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JNL/S&P Dividend Income & Growth Fund
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JNL/S&P Intrinsic Value Fund
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JNL/S&P Total Yield Fund
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Assets
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Annual Rate
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Effective December 1, 2011:
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$0 to $1Billion
Next $2 Billion
Next $1 Billion
Next $1 Billion
Over $5 Billion
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0.06%
0.05%
0.04%
0.03%
0.02%
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Effective December 31, 2012:
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$0 to $1Billion
Next $2 Billion
Over $3 Billion
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0.08%
0.07%
0.05%
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The assets of the funds are aggregated for purposes of calculating the sub-advisory fee.
