Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
|
|
Class A
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Management Fee
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0.65%
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Distribution and/or Service (12b-1) Fees
|
0.30%
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Other Expenses1
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0.16%
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Total Annual Fund Operating Expenses2
|
1.11%
|
1
|
"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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Expense information has been restated to reflect current fees.
|
Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment) |
|
|
Class I
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Management Fee
|
0.65%
|
Distribution and/or Service (12b-1) Fees
|
0.00%
|
Other Expenses1
|
0.16%
|
Total Annual Fund Operating Expenses2
|
0.81%
|
1
|
"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
|
Expense information has been restated to reflect current fees.
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JNL/Harris Oakmark Global Equity 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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$113
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$353
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$612
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$1,352
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JNL/Harris Oakmark Global Equity Fund Class I
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|||
1 year
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3 years
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5 years
|
10 years
|
$83
|
$259
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$450
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$1,002
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Period
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|
|
1/1/2023 - 12/31/2023
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38
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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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Concentration risk – The Fund may concentrate its investments in certain securities. To the extent that the Fund focuses on particular countries, regions,
industries, sectors, issuers, types of investment or limited number of securities from time to time, the Fund may be subject to greater risks of adverse economic, business or political developments in the area of focus than a fund that
invests in a wider variety of countries, regions, industries, sectors or investments.
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•
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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.
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•
|
Emerging markets and less
developed countries risk – Emerging market and less developed countries generally are located in Asia, the Middle East,
Eastern Europe, Central and South America and Africa. Investments in, or exposure to, securities that are tied economically to emerging
market and less developed countries are subject to all of the risks of investments in, or exposure to, foreign securities, generally to a greater extent than in developed markets, among other risks. Investments in securities that are tied economically to emerging markets involve greater risk from economic and political systems that typically are less developed,
and likely to be less stable, than those in more advanced countries. The Fund also will be subject to the risk of adverse foreign currency rate fluctuations. Emerging market and less developed countries may also have economies that are
predominantly based on only a few industries or dependent on revenues from particular commodities. The risks of nationalization, expropriation or other confiscation of assets of non-U.S. issuers is also greater in emerging and less
developed countries. As a result of these risks, investments in securities tied economically to emerging markets tend to be more volatile than investments in securities of developed countries.
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•
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Stock risk – Stock
markets may experience significant short-term volatility and may fall sharply at times. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock
markets. The prices of individual stocks generally do not all move in the same direction at the same time and a variety of factors can affect the price of a particular company’s stock.
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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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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.
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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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Mid-capitalization investing
risk – The stocks of mid-capitalization companies can be more volatile and their shares can be less liquid than those of larger
companies. Mid-capitalization companies may have limited product lines, markets or financial resources or may depend on the expertise of a few people and may be subject to more abrupt or erratic market movements than securities of larger,
more established companies or the market averages in general. Securities of such issuers may lack sufficient market liquidity to effect sales at an advantageous time or without a substantial drop in price.
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•
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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.
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•
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Investment style risk –
The returns from a certain investment style may be lower than the returns from the overall stock market. Value stocks may not increase in price if other investors fail to recognize the company’s value or the factors that are expected to
increase the price of the security do not occur. Over market cycles, different investment styles may sometimes outperform other investment styles (for example, growth investing may outperform value investing).
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•
|
Volatility risk – The
Fund may have investments that appreciate or depreciate significantly in value over short periods of time. This may cause the Fund’s net asset value per share to experience significant appreciations or depreciations in value over short
periods of time.
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•
|
Currency risk – Investments in foreign currencies, securities that trade in or receive revenues in foreign currencies, or derivatives that provide exposure
to foreign currencies are subject to the risk that those currencies may decline in value or, in the case of hedging positions, that the currency may decline in value relative to the currency being hedged. Currency exchange rates can be
volatile and may be affected by a number of factors, such as the general economics of a country, the actions (or inaction) of U.S. and foreign governments or central banks, the imposition of currency controls, and speculation. A decline in
the value of a foreign currency versus the U.S. dollar reduces the value in U.S. dollars of investments denominated in that foreign currency.
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•
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Company risk – Investments in U.S. and/or foreign-traded equity securities may fluctuate more than the values of other types of securities in response to
changes in a particular company’s financial condition.
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•
|
Investment strategy risk – The Sub-Adviser uses the principal
investment strategies and other investment strategies to seek to achieve the Fund’s investment objective. Investment decisions made by the Sub-Adviser in accordance with these investment strategies may not produce the returns the
Sub-Adviser expected, and may cause the Fund’s shares to decline in value or may cause the Fund to underperform other funds with similar investment objectives.
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•
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Accounting risk – The
Fund bases investment selections, in part, on information drawn from the financial statements of issuers. Financial statements may not be accurate, may reflect differing approaches with respect to auditing and reporting standards and may
affect the ability of the Fund’s investment manager to identify appropriate investment opportunities.
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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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•
|
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 Sub-Adviser's 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.
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Average Annual Total Returns as of 12/31/2023
|
|
|
|
|
|
|
|
1 year
|
|
5 year
|
|
Life of Fund (April 27, 2015)
|
|
JNL/Harris Oakmark Global Equity Fund (Class A)
|
19.99
|
%
|
11.03
|
%
|
5.77
|
%
|
Morningstar Developed Markets Target Market Exposure Index (Net) (reflects no deduction for fees, expenses, or taxes)
|
23.74
|
%
|
12.70
|
%
|
8.57
|
%
|
Average Annual Total Returns as of 12/31/2023
|
|
|
|
|
|
|
|
1 year
|
|
5 year
|
|
Life of Class (September 25, 2017)
|
|
JNL/Harris Oakmark Global Equity Fund (Class I)
|
20.45
|
%
|
11.36
|
%
|
5.31
|
%
|
Morningstar Developed Markets Target Market Exposure Index (Net) (reflects no deduction for fees, expenses, or taxes)
|
23.74
|
%
|
12.70
|
%
|
9.42
|
%
|
Name:
|
Joined Fund Management Team In:
|
Title:
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Anthony P. Coniaris, CFA
|
January 2017
|
Chairman and Portfolio Manager, Harris
|
David G. Herro, CFA
|
April 2015
|
Deputy Chairman, Portfolio Manager and Chief Investment Officer – International Equities, Harris
|
M. Colin Hudson, CFA
|
August 2022
|
Vice President, Portfolio Manager and Co-Head of Fixed Income and U.S. Investment Analyst, Harris
|
Eric Liu, CFA
|
July 2021
|
Vice President, Portfolio Manager and Senior International Investment Analyst, Harris
|
John A. Sitarz, CFA, CPA
|
August 2022
|
Portfolio Manager and U.S. Investment Analyst, Harris
|