Amendment to Investment Sub-Advisory Agreement between Jackson National Asset Management, LLC and Mellon Capital Management Corporation
EX 99.28(d)(200)
Amendment
to
Investment Sub-Advisory Agreement
between
Xxxxxxx National Asset Management, LLC
and
Mellon Capital Management Corporation
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser (“Adviser”), and Mellon Capital Management Corporation, a Delaware corporation and registered investment adviser (“Sub-Adviser”).
Whereas, the Adviser and Sub-Adviser entered into an Investment Sub-Advisory Agreement dated as of February 18, 2004, as amended (“Agreement”), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to JNL Series Trust (“Trust”).
Whereas, the parties wish to amend the Agreement in order to add the JNL/X. Xxxx Price Mid-Cap Growth Fund, pursuant to the appointment of the Sub-Adviser to provide certain sub-investment advisory services to this existing fund of the Trust.
Whereas, in order to reflect this fund addition, Schedule A, Schedule B, and Schedule C 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 A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated April 29, 2011, attached hereto.
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2.
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Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated April 29, 2011, attached hereto.
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3.
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Schedule C to the Agreement is hereby deleted and replaced in its entirety with Schedule C dated April 29, 2011, attached hereto.
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In Witness Whereof, the Adviser and the Sub-Adviser have caused this Amendment to be executed as of December 9, 2010, effective as of April 29, 2011.
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Xxxxxxx National Asset Management, LLC
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Mellon Capital Management Corporation
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By: /s/ Xxxx X. Xxxxx
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By: /s/ Xxxxx Xxx
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Name: Xxxx X. Xxxxx
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Name: Xxxxx Xxx
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Title: President and CEO
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Title: Director
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Schedule A
April 29, 2011
(Funds)
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JNL/Mellon Capital Management S&P 500 Index Fund
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JNL/Mellon Capital Management S&P 400 MidCap Index Fund
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JNL/Mellon Capital Management Small Cap Index Fund
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JNL/Mellon Capital Management International Index Fund
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JNL/Mellon Capital Management Bond Index Fund
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JNL/Mellon Capital Management Global Alpha Fund
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JNL/Mellon Capital Management European 30 Fund
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JNL/Mellon Capital Management Pacific Rim 30 Fund
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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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JNL/X. Xxxx Price Mid-Cap Growth Fund
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Schedule B
April 29, 2011
(Compensation)
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JNL/Mellon Capital Management S&P 500 Index Fund
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Average Daily Net Assets
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Annual Rate
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First $50 million
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0.09%
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Next $50 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/Mellon Capital Management S&P 400 MidCap Index Fund
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Average Daily Net Assets
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Annual Rate
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First $50 million
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0.09%
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Next $50 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/Mellon Capital Management Small Cap Index Fund
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Average Daily Net Assets
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Annual Rate
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First $50 million
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0.09%
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Next $50 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/Mellon Capital Management International Index Fund
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Average Daily Net Assets
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Annual Rate
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First $50 million
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0.09%
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Next $50 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/Mellon Capital Management Bond Index Fund
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Average Daily Net Assets
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Annual Rate
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First $50 million
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0.09%
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Next $50 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/Mellon Capital Management Global Alpha Fund
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Average Daily Net Assets
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Annual Rate
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First $100 million
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0.67%
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Next $200 million
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0.60%
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Over $300 million
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0.55%
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JNL/Mellon Capital Management European 30 Fund
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Average Daily Net Assets
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Annual Rate
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$0 to $50 million
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0.09%
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$50 to $100 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/Mellon Capital Management Pacific Rim 30 Fund
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Average Daily Net Assets
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Annual Rate
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$0 to $50 million
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0.09%
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$50 to $100 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/S&P Competitive Advantage Fund
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Average Daily Net Assets
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Annual Rate
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$0 to $100 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/S&P Dividend Income & Growth Fund
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Average Daily Net Assets
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Annual Rate
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$0 to $100 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/S&P Intrinsic Value Fund
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Average Daily Net Assets
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Annual Rate
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$0 to $100 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/S&P Total Yield Fund
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Average Daily Net Assets
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Annual Rate
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$0 to $100 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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JNL/X. Xxxx Price Mid-Cap Growth Fund*
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Average Daily Net Assets
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Annual Rate
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First $50 million
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0.09%
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Next $50 million
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0.06%
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$100 to $750 million
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0.03%
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Over $750 million
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0.015%
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*Fees will be paid based on assets invested in the mid-cap growth index strategy portion of the JNL/X. Xxxx Price Mid-Cap Growth Fund managed by Mellon Capital Management Corporation.
Schedule C
April 29, 2011
(Investment Objectives)
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JNL/Mellon Capital Management S&P 500 Index Fund
The JNL/Mellon Capital Management S&P 500 Index Fund seeks to match the performance of the S&P 500® Index with minimal tracking error. The strategy is constructed to mirror the Index to provide long-term capital growth by investing in equity securities of large domestic companies.
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JNL/Mellon Capital Management S&P 400 MidCap Index Fund
The JNL/Mellon Capital Management S&P 400 MidCap Index Fund seeks to match the performance of the S&P 400® Index with minimal tracking error. The strategy is constructed to mirror the Index to provide long-term capital growth by investing in equity securities of medium capitalization weighted domestic companies.
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JNL/Mellon Capital Management Small Cap Index Fund
The JNL/Mellon Capital Management Small Cap Index Fund seeks to match the performance of the Xxxxxxx 2000® Index with minimal tracking error. The strategy is constructed to mirror the index to provide long-term capital growth by investing in equity securities of small size domestic companies.
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JNL/Mellon Capital Management International Index Fund
The JNL/Mellon Capital Management International Index Fund seeks to match the performance of the Xxxxxx Xxxxxxx Capital International (MSCI) Europe Australiasia Far East (EAFE) Free Index with minimal tracking error. The strategy is constructed to mirror the Index to provide long-term capital growth by investing in international equity securities attempting to match the characteristics of each country within the Index.
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JNL/Mellon Capital Management Bond Index Fund
The JNL/Mellon Capital Management Bond Index Fund seeks to match the characteristics and performance of the Barclays Capital U.S. Aggregate Bond Index with minimal tracking error. The strategy is constructed to mirror the Index to provide safety of principal and a moderate rate of income by investing in domestic fixed income instruments (bonds).
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JNL/Mellon Capital Management Global Alpha Fund
The investment objective of the JNL/Mellon Capital Management Global Alpha Fund is to seek total return. To achieve this objective, the Fund uses a variety of investment strategies, sometimes referred to as absolute return strategies, to produce returns with low correlation with, and less volatility than, major markets over a complete market cycle; typically a period of several years. The Fund is not managed to a benchmark index. Rather than managing to track a benchmark index, the Fund seeks to provide returns that are largely independent of market moves.
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JNL/Mellon Capital Management European 30 Fund
The investment objective of the JNL/Mellon Capital Management European 30 Fund is to provide capital appreciation.
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JNL/Mellon Capital Management Pacific Rim 30 Fund
The investment objective of the JNL/Mellon Capital Management Pacific Rim 30 Fund is to provide capital appreciation.
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JNL/S&P Competitive Advantage Fund
The JNL/S&P Competitive Advantage Fund seeks capital appreciation by investing approximately equal amounts in the common stock of 30 companies included in the S&P 500 that are, in the opinion of the Sub-Adviser, profitable, predominantly higher-quality, and larger capitalization companies. In selecting the companies, the Sub-Adviser looks for companies, which are in the top decile by return on invested capital with the lowest market-to-book multiples.
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JNL/S&P Dividend Income & Growth Fund
The JNL/S&P Dividend Growth & Income Fund seeks primarily capital appreciation with a secondary focus on current income by investing approximately equal amounts in the common stock of 30 companies included in the S&P 500 which have the highest indicated annual dividend yields (“Dividend Yield”) within their sector, subject to the screening process described herein. The three stocks with the highest Dividend Yield are selected from each of 10 economic sectors in the S&P 500.
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JNL/S&P Intrinsic Value Fund
The JNL/S&P Intrinsic Value Fund seeks capital appreciation by investing approximately equal amounts in the common stock of 30 companies included in the S&P 500, excluding financial companies, that are, in the opinion of the Sub-Adviser, larger, predominantly higher-quality companies with strong free cash flows and low external financing needs.
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JNL/S&P Total Yield Fund
The JNL/S&P Total Yield Fund seeks capital appreciation by investing approximately equal amounts in the common stock of the 30 companies included in S&P 500 with the highest S&P Total Yield (a broad measure of cash returned to shareholders and bondholders), subject to the screening process described herein. The Sub-Adviser seeks companies that are significantly reducing their debt burden and/or increasing their equity distributions.
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JNL/X. Xxxx Price Mid-Cap Growth Fund
The JNL/X. Xxxx Price Mid-Cap Growth Fund seeks long-term growth of capital by investing at least 80% of its assets, under normal circumstances, in a broadly diversified portfolio of common stocks of medium-sized (mid-capitalization) companies who earnings the Sub-Adviser expects to grow at a faster rate than the average company.
Depending upon cash flows into and out of the Fund, the Adviser may direct up to 20% of the portfolio be invested in a mid-cap growth index strategy (“index sleeve”) managed by Mellon Capital Management Corporation. For the index sleeve, the Fund does not employ traditional methods of active investment management, which involves the buying and selling of securities based upon individual security analysis. The index sleeve attempts to replicate the Xxxxxxx XxxXxx® Growth Index by investing all or substantially all of its assets in the stocks that make up the Xxxxxxx MidCap® Growth Index in proportion to their market capitalization weighting in the Xxxxxxx XxxXxx® Growth Index.
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