JNL/T. Rowe Price Capital Appreciation Fund
Data updated: 2020-05-28
C000130227 — JNL/T. Rowe Price Capital Appreciation Fund. Bond · $5.68B AUM · 1.00% expense ratio. Holdings, fees, performance and SEC filings.
C000130227 Fund Overview
JNL/T. Rowe Price Capital Appreciation Fund is a US mutual fund managed by Jackson Variable Series Trust, categorised as Bond. 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: Bond
- Assets under management: $5.68B
- SEC CIK: 0001532747
- SEC series ID: S000041933
- Share class ID: C000130227
C000130227 Investment Objective and Strategy
JNL/T. Rowe Price Capital Appreciation 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/T. Rowe Price Capital Appreciation Fund (the Fund) is to seek long-term capital appreciation by investing primarily in common stocks. It may also hold fixed income and other securities to help preserve principal value.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 50% of its total assets in common stocks. The remaining assets are generally invested in convertible securities, corporate and government debt (including mortgage- and asset-backed securities), bank loans (which represent an interest in amounts owed by a borrower to a syndicate of lenders), and foreign securities, in keeping with the Funds objective. The Fund may invest up to 25% of its total assets in foreign securities. The Funds investments in common stocks generally fall into one of two categories: the larger category comprises long-term core holdings whose prices when T. Rowe Price Associates, Inc., the Funds sub-adviser (Sub-Adviser) buys them are considered low in terms of company assets, earnings, or other factors; the smaller category comprises opportunistic investments whose prices the Sub-Adviser expects to rise in the short term but not necessarily over the long term.
There are no limits on the market capitalization of the issuers of the stocks in which the Fund may invest. Because the Sub-Adviser attempts to prevent losses as well as achieve gains, the Sub-Adviser typically uses a value approach in selecting investments. The Sub-Advisers research team seeks to identify companies that seems undervalued by various measures, such as price/book value, and may be temporarily out of favor but the Sub-Adviser believes have good prospects for capital appreciation. The Sub-Adviser may establish relatively large positions in companies it finds particularly attractive. The Sub-Adviser seeks to reduce risk and to maximize gains and may seek to realize gains rather than lose them in market declines. In addition, the Sub-Adviser searches for attractive risk/reward values among all types of securities.
The portion of the Fund invested in a particular type of security, such as common stocks, results largely from case-by-case investment decisions, and the size of the Funds cash reserves may reflect the Sub-Advisers ability to find companies that meet its valuation criteria rather than its market outlook. The Fund may purchase bonds, convertible securities and bank loans for their income or other features or to gain additional exposure to a company. Maturity and quality are not necessarily major considerations, and there are no limits on the maturities or credit ratings of the debt instruments in which the Fund may invest. The Fund may not invest more than 25% of its total assets in below investment-grade debt securities (junk bonds) and bank loans combined. If a security is split rated (i.e., rated investment grade by at least one rating agency and noninvestment grade by another rating agency), the higher rating will be used for purposes of this requirement.
The Fund may invest up to 10% of total assets in mortgage- and asset-backed securities. The Fund may also write (i.e., sell) call options, primarily in an effort to protect against downside risk or to generate additional income. The Fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into what the Sub-Adviser believes are more promising opportunities.
C000130227 Costs and Fees
C000130227 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 1.00%
- Portfolio turnover: 62%
- Brokerage commissions: 1.31 bps of average net assets (SEC N-CEN)
C000130227 Cashflows
Over the 12 months to 2020-03, JNL/T. Rowe Price Capital Appreciation Fund had net inflows of $1.15B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-03 | $58.82M |
| 2020-02 | $98.14M |
| 2020-01 | $88.48M |
| 2019-12 | $122.48M |
| 2019-11 | $119.19M |
| 2019-10 | $144.67M |
C000130227 Debt Constituents
No individual debt constituents are reported in JNL/T. Rowe Price Capital Appreciation Fund's latest SEC N-PORT filing.
C000130227 Prospectus and SEC Filings
Official JNL/T. Rowe Price Capital Appreciation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2019-05-15
- Prospectus (485BPOS) — filed 2018-05-16
- Prospectus (485BPOS) — filed 2017-10-11
- Portfolio holdings (N-PORT) — filed 2020-05-28
- Portfolio holdings (N-PORT) — filed 2020-02-28
- Portfolio holdings (N-PORT) — filed 2019-11-27
- Annual census (N-CEN) — filed 2019-03-15
- Annual census, amended (N-CEN/A) — filed 2020-03-16
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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.