Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
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Class A
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Management Fee
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0.18%
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Distribution and/or Service (12b-1) Fees
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0.30%
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Other Expenses1
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0.17%
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Total Annual Fund Operating Expenses
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0.65%
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1
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"Other Expenses" include an Administrative Fee of 0.15% which is payable to Jackson National Asset Management, LLC ("JNAM" or "Adviser").
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Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
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Class I
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Management Fee
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0.18%
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Distribution and/or Service (12b-1) Fees
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0.00%
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Other Expenses1
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0.17%
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Total Annual Fund Operating Expenses
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0.35%
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Less Waiver/Reimbursement2
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0.05%
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Total Annual Fund Operating Expenses After Waiver/Reimbursement
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0.30%
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1
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"Other Expenses" include an Administrative Fee of 0.15% which is payable to Jackson National Asset Management, LLC ("JNAM" or "Adviser").
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2
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JNAM has contractually agreed to waive 0.05% of the administrative fees of the Class. The fee waiver will continue for at least one year from the
date of the current Prospectus, and continue thereafter unless the Board of Trustees approves a change in or elimination of the waiver. This fee waiver is subject to yearly review and approval by the Board of Trustees.
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JNL/Mellon DowSM Index Fund Class A
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1 year
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3 years
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5 years
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10 years
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$66
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$208
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$362
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$810
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JNL/Mellon DowSM Index Fund Class I
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1 year
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3 years
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5 years
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10 years
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$31
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$107
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$191
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$438
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Period
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1/1/2023 - 12/31/2023
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0
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%
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•
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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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•
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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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•
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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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Non-diversification risk – The Fund is non-diversified, as defined by the 1940 Act, and as such may invest in the securities of a limited number of issuers and may
invest a greater percentage of its assets in a particular issuer. Therefore, a decline in the market price of a particular security held by the Fund may affect the Fund’s performance more than if the Fund were a diversified investment
company.
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•
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License termination risk – The Fund may rely on licenses from a third party (licensor) that permit the Fund to use that party’s intellectual property in connection
with the Fund’s name and/or investment strategies. The license may be terminated by the licensor, and as a result the Fund may lose its ability to use the licensed name or strategy, or receive important data from the licensor.
Accordingly, a license may have a significant effect on the future operation of the Fund, including the need to change the investment strategy.
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•
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Derivatives risk – Investments in derivatives, which are financial instruments whose value depends on, or is derived from, the value of underlying assets,
reference rates, or indices, can be highly volatile and may be subject to transaction costs and certain risks, such as unanticipated changes in securities prices and global currency investment. Derivatives also are subject to leverage
risk, liquidity risk, interest rate risk, market risk, counterparty risk, and credit risk. They also involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate perfectly
with the underlying asset, interest rate or index. Gains or losses from derivatives can be substantially greater than the derivatives’ original cost.
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•
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Financial services risk –
An investment in issuers in the financial services sector may be adversely affected by, among other things: (i) changes in the regulatory framework or interest rates that may negatively affect financial service businesses; (ii) exposure of
a financial institution to a non-diversified or concentrated loan portfolio; (iii) exposure to financial leverage and/or investments or agreements which, under certain circumstances, may lead to losses (e.g., sub-prime loans); and (iv) the
risk that a market shock or other unexpected market, economic, political, regulatory, public health or other event might lead to a sudden decline in the values of most or all companies in the financial services sector.
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•
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Passive investment risk
– The Fund is not actively managed. Unlike with an actively managed fund, the Fund does not use techniques or defensive strategies designed to lessen the effects of market volatility or to reduce the impact of periods of market decline.
This means that, based on market and economic conditions, the Fund’s performance could be lower than actively managed funds that realign their portfolios more frequently based on the real-time market trends.
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•
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Index investing risk – The
Fund’s indexing strategy does not attempt to manage volatility, use defensive strategies, or reduce the effects of any long-term periods of poor stock performance. Should the Fund engage in index sampling, the performance of the securities
selected will not provide investment performance tracking that of the Index. Fund performance may not exactly correspond with the performance of the relevant index for a number of reasons, including, but not limited to: the timing of
purchases and redemptions of the Fund’s shares, changes in the composition of the index, and the Fund’s expenses. Certain regulatory limitations, such as fund diversification requirements, may limit the ability of the Fund to completely
replicate an index.
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•
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Tracking error risk –
Tracking error is the divergence of the Fund’s performance from that of the Index. The Fund’s return may not track the return of the Index for a number of reasons. Tracking error may occur because of differences between the securities and
other instruments held in the Fund’s portfolio and those included in the Index, pricing differences, differences in transaction costs, the Fund’s holding of uninvested cash, differences in timing of the accrual of or the valuation of
dividends or interest, tax gains or losses, changes to the Index or the costs to the Fund of complying with various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other
unusual market conditions. Tracking error also may result because the Fund incurs fees and expenses, while the Index does not. However, the Fund may be required to deviate its investments from the securities and relative weightings of the
Index to comply with the 1940 Act, as amended to meet the issuer diversification requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, or as a result of local market restrictions, or
other legal reasons, including regulatory limits or other restrictions on securities that may be purchased by the Investment Adviser and its affiliates.
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•
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Limited management, trading
cost and rebalance risk – Investing primarily according to specific, mechanical criteria applied on a specific date each year
may prevent a Fund from responding to market fluctuations or changes in the financial condition or business prospects of the selected companies during the year.
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•
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Securities lending risk –
Securities lending involves the risk of loss or delays in recovery of the loaned securities or loss of rights in the collateral if the borrower fails to return the security loaned or becomes insolvent.
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Average Annual Total Returns as of 12/31/2023
|
|
|
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1 year
|
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5 year
|
|
10 year
|
|
JNL/Mellon DowSM Index Fund (Class A)
|
15.43
|
%
|
11.73
|
%
|
10.42
|
%
|
Morningstar US Target Market Exposure Index (reflects no deduction for fees, expenses, or taxes)
|
27.18
|
%
|
15.64
|
%
|
11.96
|
%
|
Dow Jones Industrial Average (reflects no deduction for fees, expenses, or taxes)
|
16.18
|
%
|
12.47
|
%
|
11.08
|
%
|
Average Annual Total Returns as of 12/31/2023
|
|
|
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1 year
|
|
5 year
|
|
Life of Class (September 25, 2017)
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|
JNL/Mellon DowSM Index Fund (Class I)
|
15.84
|
%
|
12.12
|
%
|
10.75
|
%
|
Morningstar US Target Market Exposure Index (reflects no deduction for fees, expenses, or taxes)
|
27.18
|
%
|
15.64
|
%
|
12.75
|
%
|
Dow Jones Industrial Average (reflects no deduction for fees, expenses, or taxes)
|
16.18
|
%
|
12.47
|
%
|
11.08
|
%
|
Name:
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Joined Fund Management Team In:
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Title:
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Marlene Walker Smith
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October 2020
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Director, Head of Equity Index – Portfolio Management, Mellon
|
David France, CFA
|
October 2020
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Vice President and Senior Portfolio Manager, Mellon
|
Todd Frysinger, CFA
|
October 2020
|
Vice President and Senior Portfolio Manager, Mellon
|
Vlasta Sheremeta, CFA
|
October 2020
|
Vice President and Senior Portfolio Manager, Mellon
|
Michael Stoll
|
October 2020
|
Vice President and Senior Portfolio Manager, Mellon
|