Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
|
|
Class A
|
Management Fee
|
0.56%
|
Distribution and/or Service (12b-1) Fees
|
0.30%
|
Other Expenses1
|
0.11%
|
Acquired Fund Fees and Expenses2
|
0.01%
|
Total Annual Fund Operating Expenses
|
0.98%
|
1
|
"Other Expenses" include an Administrative Fee of 0.10% which is payable to Jackson National Asset Management, LLC ("JNAM" or "Adviser").
|
2
|
Acquired Fund Fees and Expenses are the indirect expenses of investing in other investment companies. Accordingly, the expense ratio presented in the
Financial Highlights section of the prospectus will not correlate to the Total Annual Fund Operating Expenses disclosed above.
|
Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
|
|
Class I
|
Management Fee
|
0.56%
|
Distribution and/or Service (12b-1) Fees
|
0.00%
|
Other Expenses1
|
0.11%
|
Acquired Fund Fees and Expenses2
|
0.01%
|
Total Annual Fund Operating Expenses
|
0.68%
|
1
|
"Other Expenses" include an Administrative Fee of 0.10% which is payable to Jackson National Asset Management, LLC ("JNAM" or "Adviser").
|
2
|
Acquired Fund Fees and Expenses are the indirect expenses of investing in other investment companies. Accordingly, the expense ratio presented in the
Financial Highlights section of the prospectus will not correlate to the Total Annual Fund Operating Expenses disclosed above.
|
JNL Multi-Manager Small Cap Growth Fund Class A
|
|||
1 year
|
3 years
|
5 years
|
10 years
|
$100
|
$312
|
$542
|
$1,201
|
JNL Multi-Manager Small Cap Growth Fund Class I
|
|||
1 year
|
3 years
|
5 years
|
10 years
|
$69
|
$218
|
$379
|
$847
|
Period
|
|
|
1/1/2023 - 12/31/2023
|
54
|
%
|
•
|
Corporate Performance – reviewing the operating history of the company, understanding of management’s skill set, the company’s
core competency, the culture and their ability to evolve.
|
•
|
Systematic Effects – evaluating the macro factors affecting the business, their position in the market and looking to gain an
understanding of the key drivers of the business.
|
•
|
Sustainability – measuring how the company can protect its margins and continue to reinvest cash flows.
|
•
|
Intrinsic Value – determining the value of the company versus how the market values the company.
|
•
|
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.
|
•
|
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.
|
•
|
Small-capitalization investing
risk – Investing in smaller companies, some of which may be newer companies or start-ups, generally involves greater risks than
investing in larger, more established ones. The securities of companies with smaller market capitalizations often are less widely held and trade less frequently and in lesser quantities, and their market prices often fluctuate more, than
the securities of companies with larger market capitalizations.
|
•
|
Sector risk – Companies
with similar characteristics may be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. For
example, this may be due to changes in the regulatory or competitive environment or changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s
performance may be more susceptible to any developments which affect those sectors emphasized by the Fund. In addition, the Fund could underperform other funds investing in similar sectors or comparable benchmarks because of the investment
manager’s choice of securities within such sector.
|
•
|
Investment style risk –
The returns from a certain investment style may be lower than the returns from the overall stock market. Growth stock prices frequently reflect projections of future earnings or revenues, and if earnings growth expectations are not met,
their stock prices will likely fall, which may reduce the value of a Fund’s investment in those stocks. Over market cycles, different investment styles may sometimes outperform other investment styles (for example, growth investing may
outperform value investing).
|
•
|
Allocation risk – The
Fund’s ability to achieve its investment objective depends upon the investment manager’s analysis of such factors as macroeconomic trends, outlooks for various industries and asset class valuations, and its ability to select an appropriate
mix of asset classes based on its analysis of such factors. The Fund is subject to the risk of changes in market, investment, and
economic conditions in the selection and percentages of allocations.
|
•
|
Information technology sector
risk – Information technology companies face intense competition and potentially rapid product obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of
those rights.
|
•
|
Portfolio turnover risk – Frequent changes in the securities held by the Fund, including investments made on a shorter-term basis or in derivative instruments or in
instruments with a maturity of one year or less at the time of acquisition, may increase transaction costs, which may reduce performance.
|
•
|
Managed portfolio risk –
As an actively managed portfolio, the Fund's portfolio manager(s) make decisions to buy and sell holdings in the Fund's portfolio. Because of this, the value of the Fund’s investments could decline because the financial condition of an
issuer may change (due to such factors as management performance, reduced demand or overall market changes), financial markets may fluctuate or overall prices may decline, the investment techniques could fail to achieve the Fund’s
investment objective or negatively affect the Fund’s investment performance, or legislative, regulatory, or tax developments may affect the investment techniques available to the Sub-Adviser of the Fund. There is no guarantee that the
investment objective of the Fund will be achieved.
|
•
|
Depositary receipts risk –
Depositary receipts, such as American depositary receipts ("ADRs"), global depositary receipts ("GDRs"), and European depositary receipts ("EDRs"), may be issued in sponsored or un-sponsored programs. They may be traded in the
over-the-counter (“OTC”) market or on a regional exchange, or may otherwise have limited liquidity. The prices of depositary receipts may differ from the prices of securities upon which they are based. In a sponsored program, a security
issuer has made arrangements to have its securities traded in the form of depositary receipts. In an un-sponsored program, the issuer may not be directly involved in the creation of the program. Holders of un-sponsored depositary receipts
generally bear all the costs of the facility. The depository usually charges fees upon deposit and withdrawal of the underlying securities, the conversion of dividends into U.S. dollars or other currency, the disposition of non-cash
distributions, and the performance of other services. Depositary receipts involve many of the same risks as direct investments in foreign securities. These risks include: fluctuations in currency exchange rates, which are affected by
international balances of payments and other economic and financial conditions; government intervention; and speculation. With respect to certain foreign countries, there is the possibility of expropriation or nationalization of assets,
confiscatory taxation, political and social upheaval, and economic instability. Investments in depositary receipts that are exchange traded or OTC may also subject the Fund to liquidity risk. This risk is enhanced in connection with OTC
depositary receipts.
|
•
|
Foreign securities risk –
Investments in, or exposure to, foreign securities involve risks not typically associated with U.S. investments. These risks include, among others, adverse fluctuations in foreign currency values, possible imposition of foreign withholding
or other taxes on income payable on the securities, as well as adverse political, social and economic developments, such as political upheaval, acts of terrorism, financial troubles, sanctions or the threat of new or modified sanctions, or
natural disasters. Many foreign securities markets, especially those in emerging market countries, are less stable, smaller, less liquid, and less regulated than U.S. securities markets, and the costs of trading in those markets is often
higher than in U.S. securities markets. There may also be less publicly available information about issuers of foreign securities compared to issuers of U.S. securities. In addition, the economies of certain foreign markets may not compare
favorably with the economy of the United States with respect to issues such as growth of gross national product, reinvestment of capital, resources and balance of payments position.
|
Average Annual Total Returns as of 12/31/2023
|
|
|
|
|
|
|
|
1 year
|
|
5 year
|
|
10 year
|
|
JNL Multi-Manager Small Cap Growth Fund (Class A)
|
16.32
|
%
|
10.43
|
%
|
7.81
|
%
|
Morningstar US Market Extended Index (reflects no deduction for fees, expenses, or taxes)
|
26.22
|
%
|
15.15
|
%
|
11.51
|
%
|
Morningstar US Small Cap Broad Growth Extended Index (reflects no deduction for fees, expenses, or taxes)
|
22.61
|
%
|
9.75
|
%
|
7.43
|
%
|
Average Annual Total Returns as of 12/31/2023
|
|
|
|
|
|
|
|
1 year
|
|
5 year
|
|
10 year
|
|
JNL Multi-Manager Small Cap Growth Fund (Class I)
|
16.68
|
%
|
10.76
|
%
|
8.09
|
%
|
Morningstar US Market Extended Index (reflects no deduction for fees, expenses, or taxes)
|
26.22
|
%
|
15.15
|
%
|
11.51
|
%
|
Morningstar US Small Cap Broad Growth Extended Index (reflects no deduction for fees, expenses, or taxes)
|
22.61
|
%
|
9.75
|
%
|
7.43
|
%
|
Name:
|
Joined Fund Management Team In:
|
Title:
|
William Harding, CFA
|
September 2015
|
Senior Vice President, Chief Investment Officer and Portfolio Manager, JNAM
|
Sean Hynes, CFA, CAIA
|
September 2015
|
Vice President and Portfolio Manager, JNAM
|
Mark Pliska, CFA
|
September 2015
|
Vice President and Portfolio Manager, JNAM
|
Laird Bieger
|
April 2022
|
Vice President and Portfolio Manager, BAMCO
|
Randolph Gwirtzman, CFA
|
April 2022
|
Vice President and Portfolio Manager, BAMCO
|
Andrew L. Beja, CFA
|
September 2015
|
Senior Vice President, Managing Director, Portfolio Manager, GIM
|
David Rose, CFA
|
October 2020
|
Managing Director, Chief Investment Officer, Portfolio Manager, GIM
|
Jeffrey A. Harrison, CFA
|
October 2020
|
Managing Director, Portfolio Manager, GIM
|
Todd Beiley, CFA
|
April 2018
|
Portfolio Manager and Senior Research Analyst, KAR
|
Jon Christensen, CFA
|
April 2018
|
Portfolio Manager and Senior Research Analyst, KAR
|
Julie Biel, CFA
|
April 2021
|
Portfolio Manager and Senior Research Analyst, KAR
|
Chris Wright, CFA
|
March 2022
|
Portfolio Manager and Senior Research Analyst, KAR
|
Brian C. Fitzsimons, CFA
|
April 2022
|
Director of Small-Cap Growth Strategies, SBH
|
Mitch S. Begun, CFA
|
April 2022
|
Senior Portfolio Manager, SBH
|
D. Scott Tracy, CFA
|
September 2015
|
Chief Investment Officer and Co-Portfolio Manager, Victory Capital/RS Investments
|
Stephen J. Bishop
|
September 2015
|
Co-Portfolio Manager, Victory Capital/RS Investments
|
Melissa Chadwick-Dunn
|
September 2015
|
Co-Portfolio Manager, Victory Capital/RS Investments
|
Christopher W. Clark, CFA
|
September 2015
|
Co-Portfolio Manager, Victory Capital/RS Investments
|
Paul Leung, CFA
|
May 2018
|
Co-Portfolio Manager, Victory Capital/RS Investments
|
John Rackers
|
October 2019
|
Portfolio Manager and Business Analyst, WCM
|
Chad E. Hoffman
|
October 2019
|
Portfolio Manager and Business Analyst, WCM
|