Amendment to Sub-Advisory Agreement Between Jackson National Asset Management, LLC and GQG Partners LLC
Ex. 99.28(d)(25)(vii)
Amendment to Sub-Advisory Agreement Between
Xxxxxxx National Asset Management, LLC and GQG Partners LLC
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser (the “Adviser”), and GQG Partners LLC, a Delaware limited liability company and registered investment adviser (the “Sub-Adviser”).
Whereas, the Adviser and the Sub-Adviser (the “Parties”) entered into a Sub-Advisory Agreement effective as of the 13th day of September, 2021, as amended, wherein the September 25, 2017 Agreement, as amended, was incorporated by reference (the “Agreement”), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios (each, a “Fund”) of JNL Series Trust (the “Trust”), as listed on Schedule A to the Agreement.
Whereas, pursuant to the Agreement, the Adviser agreed to pay sub-advisory fees as set forth on Schedule B to the Agreement to the Sub-Adviser for the services provided and the expenses assumed by the Sub-Adviser, and the Sub-Adviser agreed to accept such sub-advisory fees as full compensation under the Agreement for such services and expenses.
Whereas, the Board of Trustees of the Trust approved, and the Parties have agreed to amend the sub-advisory fees, as set forth on Schedule B to the Agreement, to reflect fee reductions for the JNL/GQG Emerging Markets Equity Fund, effective September 1, 2023.
Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:
| 1) | Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated September 1, 2023, attached hereto. |
| 2) | Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms. |
| 3) | Each of the Parties represents and warrants to the others that it has full authority to enter into this Amendment, upon the terms and conditions hereof, and that the individual executing this Amendment is duly authorized to bind the respective party to this Amendment. |
| 4) | This Amendment may be executed in one or more counterparts, which together shall constitute one document. |
In Witness Whereof, the Parties have caused this Amendment to be executed, effective September 1, 2023.
| Xxxxxxx National Asset Management, LLC | GQG Partners LLC | ||||
| By: | /s/ Xxxx X. Xxxxx | By: | /s/ Xxx Xxxxxx | ||
| Name: | Xxxx X. Xxxxx | Name: | Xxx Xxxxxx | ||
| Title: | President and CEO | Title: | Chief Executive Officer | ||
| By: | /s/ Xxxx Xxxxxxx | ||||
| Name: | Xxxx Xxxxxxx | ||||
| Title: | General Counsel and Secretary | ||||
Schedule B
Dated September 1, 2023
(Compensation)
| JNL Multi Manager U.S. Select Equity Fund* | ||
|
[Fees Omitted] |
||
* For the portion of the Average Daily Net Assets managed by GQG Partners LLC.
| JNL/GQG Emerging Markets Equity Fund | |
| Average Daily Net Assets | Annual Rate |
|
$0 to $500 Million |
0.65% |
|
$500 Million to $800 Million |
0.60% |
|
Over $800 Million |
0.55% |
E-1
