JNL/DoubleLine Total Return Fund

Data updated: 2020-05-28

C000130224 — JNL/DoubleLine Total Return Fund. Money Market · $2.49B AUM · 0.84% expense ratio. Holdings, fees, performance and SEC filings.

C000130224 Fund Overview

JNL/DoubleLine Total Return Fund is a US mutual fund managed by Jackson Variable Series Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Jackson Variable Series Trust
Category: Money Market
Assets under management: $2.49B
SEC CIK: 0001532747
SEC series ID: S000041930
Share class ID: C000130224

C000130224 Investment Objective and Strategy

JNL/DoubleLine Total Return Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Jackson Variable Series Trust.

Investment objective

The investment objective of the JNL/DoubleLine Total Return Fund (the Fund) is to seek to maximize total return.

Principal investment strategy

Under normal circumstances, the Fund intends to invest more than 50% of its net assets in residential and commercial mortgage-backed securities. These investments may include mortgage-backed securities of any maturity or type, including those guaranteed by, or secured by collateral that is guaranteed by, the United States Government, its agencies, instrumentalities or sponsored corporations, and privately issued mortgage-backed securities rated at the time of investment Aa3 or higher by Moodys Investor Service, Inc. (Moodys) or AA- or higher by S&P Global Ratings (S&P) or the equivalent by any other nationally recognized statistical rating organization or in unrated securities that are determined by DoubleLine Capital LP, the Funds sub-adviser (Sub-Adviser) to be of comparable quality.

These investments also include, among others, government mortgage pass-through securities, collateralized mortgage obligations (CMOs), multiclass pass-through securities, private mortgage pass-through securities, stripped mortgage securities (interest-only and principal-only securities) and inverse floaters. Since the Funds inception, the Fund has historically invested substantially all of its assets in the mortgage-backed securities described above; short-term investments, such as notes issued by U.S. Government agencies and shares of money market funds; and, from time to time, other asset-backed backed obligations, collateralized loan obligations (CLOs), collateralized debt obligations (CDOs), and obligations of the U.S. Government and its agencies, instrumentalities, or sponsored corporations.

The Fund may invest in other instruments as part of its principal investment strategies, but it has not historically done so and there can be no assurance it will do so in the future. In managing the Funds portfolio, the Sub-Adviser typically uses a controlled-risk approach. The techniques of this approach attempt to control the principal risk components of the fixed income markets and may include, among other factors, consideration of the Sub-Advisers view of the following: the potential relative performance of various market sectors, security selection available within a given sector, the risk/reward equation for different asset classes, liquidity conditions in various market sectors, the shape of the yield curve and projections for changes in the yield curve, potential fluctuations in the overall level of interest rates, and current fiscal policy.

Under normal circumstances, the Fund intends to invest at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in bonds. Bonds include bonds, debt securities, and other fixed income instruments issued by governmental or private-sector entities. The Fund may invest in bonds of any credit quality, including those that are at the time of investment unrated or rated BB+ or lower by S&P or Ba1 or lower by Moodys or the equivalent by any other nationally recognized statistical rating organization. Bonds and fixed income instruments rated below investment grade, or such instruments that are unrated and determined by the Sub-Adviser to be of comparable quality, are high yield, high risk bonds, commonly known as junk bonds. The Fund may invest up to 33?% of its net assets in junk bonds, bank loans and assignments rated below investment grade or unrated but determined by the Sub-Adviser to be of comparable quality, and credit default swaps of companies in the high yield universe.

The Sub-Adviser does not consider the term junk bonds to include any mortgage-backed securities or any other asset-backed securities, regardless of their credit rating or credit quality. The Fund may invest a portion of its net assets in inverse floater securities and interest-only and principal-only securities. The Sub-Adviser monitors the duration of the Funds portfolio securities to seek to assess and, in its discretion, adjust the Funds exposure to interest rate risk. In managing the Funds investments, under normal market conditions, the Sub-Adviser intends to seek to construct an investment portfolio with a weighted average effective duration of no less than one year and no more than eight years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a securitys price to changes in interest rates.

Effective duration is a measure of the Funds portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage prepayment rates. The effective duration of the Funds investment portfolio may vary materially from its target range, from time to time, and there is no assurance that the effective duration of the Funds investment portfolio will always be within its target range. Portfolio securities may be sold at any time. By way of example, sales may occur when the Sub-Adviser determines to take advantage of what the Sub-Adviser considers to be a better investment opportunity, when the Sub-Adviser believes the portfolio securities no longer represent relatively attractive investment opportunities, when the Sub-Adviser perceives deterioration in the credit fundamentals of the issuer, or when the Sub-Adviser believes it would be appropriate to do so in order to readjust the duration of the Funds investment portfolio.

For example, the value of a portfolio of fixed income securities with an average duration of three years would generally be expected to decline by approximately 3% if interest rates rose by one percentage point.

C000130224 Costs and Fees

C000130224 costs about $84 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.84%
Gross expense ratio: 0.84%
Portfolio turnover: 18%
Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000130224 Cashflows

Over the 12 months to 2020-03, JNL/DoubleLine Total Return Fund had net outflows of $17.21M, from monthly SEC N-PORT filings.

Month	Net flow
2020-03	−$140.93M
2020-02	−$22.25M
2020-01	$21.17M
2019-12	$36.26M
2019-11	$18.79M
2019-10	−$7.46M

C000130224 Debt Constituents

No individual debt constituents are reported in JNL/DoubleLine Total Return Fund's latest SEC N-PORT filing.

C000130224 Prospectus and SEC Filings

Official JNL/DoubleLine Total Return Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market 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.