JNL/PPM America High Yield Bond Fund
Data updated: 2026-08-26
C000067978 — JNL/PPM America High Yield Bond Fund. Intermediate Corporate Bond · $1.52B AUM. Holdings, fees, performance and SEC filings.
C000067978 Fund Overview
JNL/PPM America High Yield Bond Fund is a US mutual fund managed by JNL Series Trust, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: JNL Series Trust
- Category: Intermediate Corporate Bond
- Assets under management: $1.52B
- 1-year return: 6.5%
- SEC CIK: 0000933691
- SEC series ID: S000001740
- Share class ID: C000067978
C000067978 Investment Objective and Strategy
JNL/PPM America High Yield Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JNL Series Trust.
Investment objective
The investment objective of the Fund is to maximize current income.
Principal investment strategy
The Fund invests under normal circumstances at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in high-yield, high-risk debt securities (junk bonds) and related investments that are rated below investment grade (i.e., rated below BBB- or Baa3) by at least one major credit rating agency, or, if not rated by any credit rating agency, determined to be below investment-grade quality by PPM America, Inc. (Sub-Adviser). Below investment grade securities could include split-rated securities, which are securities that are rated as investment grade by at least one credit rating agency but rated below investment grade by another agency. Below investment grade securities offer a higher yield, but generally carry more risks than higher rated securities with similar maturities.
As a result, an investment in below investment grade securities is considered speculative. The Fund may also invest up to 20% of its total assets in equity securities (other than preferred stock, in which the Fund may invest without limit). The Fund may invest in securities sold pursuant to Rule 144A of the Securities Act of 1933, as amended. Rule 144A securities are restricted securities that can be resold to qualified institutional buyers but not to the general public. The Fund may also invest in bank loans. The Fund may also invest up to 35% of its total assets in securities of foreign issuers. To the extent that the Fund invests in emerging market debt rated below BBB- or Baa3 by at least one major credit rating agency, or, if not rated by any credit rating agency, determined by Sub-Adviser to be below investment-grade quality, this will be considered as an investment in a high-yield security for purposes of the 80% investment minimum requirement.
Additionally, the Fund has the ability to invest in other investment companies, such as exchange-traded funds (ETFs), money market funds, unit investment trusts and open-end and closed-end funds, including affiliated investment companies. For purposes of satisfying the 80% requirement, the Fund may invest in high yield ETFs comprised of the securities described above. The Fund generally uses high yield ETFs as a tool to obtain exposure to the securities in which it primarily invests. In seeking to maximize income, the Sub-Adviser seeks to identify the best relative value investment opportunities across various debt sectors by analyzing overall economic conditions within and among these sectors. In pursuing capital appreciation, the Sub-Adviser looks for those companies that it believes have the highest potential for improving credit fundamentals.
In light of the risks associated with high yield securities, the Sub-Adviser takes various factors into consideration in evaluating the creditworthiness of an issuer.
C000067978 Holdings
Top 10 holdings of JNL/PPM America High Yield Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JNL Government Money Market Fund | 5.87% |
| Jackson National Asset Management, LLC | 4.46% |
| Carnival Corporation | 1.49% |
| Citgo Petroleum Corporation | 0.97% |
| Big Sky Funding LLC | 0.91% |
| Marb Bondco PLC | 0.74% |
| Five Point Operating Company, LP | 0.74% |
| Rand Parent, LLC | 0.73% |
| Carnival Corporation | 0.73% |
| Ahead DB Holdings, LLC | 0.67% |
C000067978 Portfolio Allocation
Asset-class allocation of JNL/PPM America High Yield Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 87.4% |
| Cash & Equivalents | 10.3% |
| Loans | 6.0% |
| Equity | 0.5% |
C000067978 Performance
Total returns for C000067978 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.1% |
| 1 year | 6.5% |
| 3 years (annualised) | 9.1% |
| 5 years (annualised) | 4.2% |
C000067978 Risk Information
Risk metrics for C000067978, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.0%
C000067978 Costs and Fees
C000067978 costs about $46 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.46%
- Gross expense ratio: 0.46%
- Portfolio turnover: 70%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000067978 Cashflows
Over the 12 months to 2026-06, JNL/PPM America High Yield Bond Fund had net inflows of $59.64M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$6.28M |
| 2026-05 | −$8.66M |
| 2026-04 | $228.32M |
| 2026-03 | −$20.00M |
| 2026-02 | −$14.79M |
| 2026-01 | −$10.00M |
C000067978 Debt Constituents
Largest debt holdings of JNL/PPM America High Yield Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Carnival Corporation | 1.49% |
| Citgo Petroleum Corporation | 0.97% |
| Big Sky Funding LLC | 0.91% |
| Marb Bondco PLC | 0.74% |
| Five Point Operating Company, LP | 0.74% |
| Rand Parent, LLC | 0.73% |
| Carnival Corporation | 0.73% |
| Ahead DB Holdings, LLC | 0.67% |
| Optics BidCo S.p.A. | 0.67% |
| Athenahealth Group Inc. | 0.65% |
C000067978 Prospectus and SEC Filings
Official JNL/PPM America High Yield Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-23
- Prospectus (485BPOS) — filed 2025-04-24
- Prospectus (485BPOS) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Intermediate Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.