Amendment to Sub-Advisory Agreement Between Jackson National Asset Management, LLC
JNL Series Trust 485BPOS
Ex. 99.28(d)(35)(vi)
Amendment to
Sub-Advisory Agreement Between
Xxxxxxx National Asset Management, LLC
and Mellon Investments Corporation
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser (the “Adviser”), and Mellon Investments Corporation, a Delaware corporation 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 September 13, 2021 wherein the September 2, 2021 Amended and Restated Sub-Advisory 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 following Funds, effective January 1, 2024:
| JNL iShares Tactical Growth Fund; |
| JNL iShares Tactical Moderate Fund; |
| JNL iShares Tactical Moderate Growth Fund; |
| JNL/Mellon Communication Services Sector Fund; |
| JNL/Mellon Consumer Discretionary Sector Fund; |
| JNL/Mellon Consumer Staples Sector Fund; |
| JNL/Mellon DowSM Index Fund; |
| JNL/Mellon Energy Sector Fund; |
| JNL/Mellon Financial Sector Fund; |
| JNL/Mellon Healthcare Sector Fund; |
| JNL/Mellon Industrials Sector Fund; |
| JNL/Mellon Information Technology Sector Fund; |
| JNL/Mellon Materials Sector Fund; |
| JNL/Mellon Nasdaq® 100 Index Fund; |
| JNL/Mellon Real Estate Sector Fund; |
| JNL/Mellon U.S. Stock Market Index Fund; |
| JNL/Mellon Utilities Sector Fund; |
| JNL/Mellon World Index Fund; |
| JNL/Morningstar PitchBook Listed Private Equity Index Fund; |
| JNL/Morningstar U.S. Sustainability Index Fund; |
| JNL/Morningstar Wide Moat Index Fund; |
| JNL/RAFI® Fundamental U.S. Small Cap Fund; |
| JNL/RAFI® Multi-Factor U.S. Equity Fund; |
| JNL/Vanguard Growth ETF Allocation Fund; |
| JNL/Vanguard Moderate ETF Allocation Fund; |
| JNL/Vanguard Moderate Growth ETF Allocation Fund; |
| JNL Bond Index Fund; |
| JNL Emerging Markets Index Fund; and |
| JNL International Index Fund. |
| - 1 - |
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 January 1, 2024, 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 January 1, 2024.
| Xxxxxxx National Asset Management, LLC | Mellon Investments Corporation | |||
|
By: |
/s/ Xxxx X. Xxxxx |
By: |
/s/ Xxxxx Xxxxx |
|
| Name: | Xxxx X. Xxxxx | Name: | Xxxxx Xxxxx | |
| Title: | President and CEO | Title: | Xxxxxx XXX | |
| - 2 - |
Schedule B
Dated January 1, 2024
(Compensation)
|
JNL iShares Tactical Growth Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL iShares Tactical Moderate Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL iShares Tactical Moderate Growth Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL S&P 500 Index Fund |
|
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
0.005% |
|
JNL/Mellon Communication Services Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| B-1 |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Consumer Discretionary Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Consumer Staples Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon DowSM Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Energy Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| B-2 |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Financial Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Healthcare Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Industrials Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Information Technology Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| B-3 |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Materials Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Nasdaq® 100 Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Real Estate Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Xxxxxx S&P 500 Index Fund |
|
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
0.005% |
| B-4 |
|
JNL/Mellon U.S. Stock Market Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon Utilities Sector Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Mellon World Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Morningstar PitchBook Listed Private Equity Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
| B-5 |
|
JNL/Morningstar U.S. Sustainability Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Morningstar Wide Moat Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/RAFI® Fundamental U.S. Small Cap Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/RAFI® Multi-Factor U.S. Equity Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
| B-6 |
|
JNL/Vanguard Growth ETF Allocation Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Vanguard Moderate ETF Allocation Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL/Vanguard Moderate Growth ETF Allocation Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL Bond Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
| B-7 |
|
JNL Emerging Markets Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL International Index Fund |
|
| Assets up to $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $500 million |
0.030% |
|
$500 million to $1.5 billion |
0.015% |
| Assets over $1.5 billion: | |
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
.0075% |
|
JNL Mid Cap Index Fund |
|
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
0.005% |
|
JNL Small Cap Index Fund |
|
|
Average Daily Net Assets |
Annual Rate |
|
$0 to $3 billion |
0.010% |
|
Over $3 billion |
0.005% |
| B-8 |
