JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund
Data updated: 2020-05-28
C000141741 — JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund. Commodity · $75.48M AUM. Holdings, fees, performance and SEC filings.
C000141741 Fund Overview
JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund is a US mutual fund managed by Jackson Variable Series Trust, categorised as Commodity. 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: Commodity
- Assets under management: $75.48M
- SEC CIK: 0001532747
- SEC series ID: S000045525
- Share class ID: C000141741
C000141741 Investment Objective and Strategy
JNL/Neuberger Berman Risk Balanced Commodity Strategy 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/Neuberger Berman Risk Balanced Commodity Strategy Fund (the Fund) is to seek total return.
Principal investment strategy
The Fund seeks to achieve its goal by investing under normal circumstances in commodity-linked derivative instruments and fixed-income instruments. Commodities are assets that have tangible properties, such as oil, natural gas, agricultural products or metals. The Fund seeks to gain exposure to the commodity markets by investing, directly or indirectly, in futures contracts on individual commodities and other commodity-linked derivative instruments. The performance of these commodity-linked derivative instruments is expected to correspond to the performance of the commodity underlying the derivative instrument, without requiring the Fund to invest directly in commodities. Although the Fund may make these investments in commodity-linked derivative instruments directly, the Fund expects to gain exposure to these investments primarily by investing in JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund Ltd.
(the Subsidiary). The Subsidiary may invest without limitation in commodity-linked derivative instruments. The Subsidiary also may invest in fixed income securities, cash or cash equivalent instruments, or money market mutual funds, some of which may serve as collateral for the Subsidiarys derivative instruments. The Fund will not invest more than 25% of the value of its total assets in the Subsidiary at the end of any quarter of its fiscal year. Fund assets not invested either in the Subsidiary or directly in commodity-linked derivative instruments will be invested in fixed income securities, cash or cash equivalent instruments, or money market mutual funds. The Fund and the Subsidiary may hold commodity-linked derivative instruments that provide leveraged exposure to commodities so that the Funds and the Subsidiarys investment exposure to commodities (through their use of commodity-linked derivative instruments) may, at times, equal or slightly exceed the Funds net assets (including its interest in the Subsidiary).
In managing the Funds commodity investments, the Funds sub-adviser, Neuberger Berman Investment Advisers LLC (the Sub-Adviser) seeks to identify investment opportunities using quantitative investment models and fundamental analyses with an emphasis on risk management in an attempt to take advantage of both short-term and long-term opportunities in commodity markets. By managing a broadly diversified portfolio of commodity investments with an active investment approach, the Sub-Adviser seeks to provide returns that are not highly correlated with other major asset classes. The Sub-Adviser will use various quantitative models employing strategies intended to identify investment opportunities and determine portfolio weightings in different commodity sectors and markets. These strategies include: (i) a risk-balancing strategy that considers the total portfolio risk the Sub-Adviser believes to be associated with each commodity; (ii) a strategy that endeavors to assess top down macro variables among various commodity sectors (such as, energy, industrial, precious metals, agricultural, livestock and softs (e.g., sugar, cotton, cocoa and coffee)); and/or (iii) a strategy that endeavors to assess the outlook for individual commodities within each commodity sector.
From time to time, the Funds investment program may emphasize a particular sector of the commodities markets. If the Fund emphasizes one or more sectors, the performance of investments in the Fund will likely be affected by events affecting the performance of those sectors. The Funds fixed income investments will be mainly in investment grade fixed income securities and are intended to provide liquidity and preserve capital and may serve as collateral for the Funds derivative instruments. These may include fixed income securities issued by the U.S. Government and its agencies and instrumentalities, bank certificates of deposit, mortgage backed securities, asset-backed securities, and corporate securities. The Fund considers fixed income securities to be investment grade if, at the time of investment, they are rated within the four highest categories by at least one independent credit rating agency or, if unrated, are determined by the Sub-Adviser to be of comparable quality.
The Fund may invest in cash or cash equivalent instruments. Because the Fund will use derivatives to gain exposure to commodities and because derivatives may not require the Fund to deposit the full notional amount of the investment, the Fund may invest a significant amount of its assets in money market mutual funds. Although the Fund invests primarily in domestic securities and other instruments, it may also invest in foreign securities and other instruments. In an effort to achieve its goal, the Fund may engage in active and frequent trading. The Fund is non-diversified under the Investment Company Act of 1940, as amended (the 1940 Act), and may invest more of its assets in fewer issuers than diversified mutual funds.
C000141741 Costs and Fees
C000141741 costs about $93 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.93%
- Gross expense ratio: 0.93%
- Portfolio turnover: 22%
- Brokerage commissions: 8.43 bps of average net assets (SEC N-CEN)
C000141741 Cashflows
Over the 12 months to 2020-03, JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund had net outflows of $6.39M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-03 | −$1.07M |
| 2020-02 | −$343.08K |
| 2020-01 | −$743.17K |
| 2019-12 | −$960.93K |
| 2019-11 | −$2.92M |
| 2019-10 | $96.64K |
C000141741 Debt Constituents
No individual debt constituents are reported in JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund's latest SEC N-PORT filing.
C000141741 Prospectus and SEC Filings
Official JNL/Neuberger Berman Risk Balanced Commodity Strategy 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
Related Funds
Other Commodity 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.