JNL/Heitman U.S. Focused Real Estate Fund
Data updated: 2026-08-26
C000202639 — JNL/Heitman U.S. Focused Real Estate Fund. United States Real Estate · $609.77M AUM. Holdings, fees, performance and SEC filings.
C000202639 Fund Overview
JNL/Heitman U.S. Focused Real Estate Fund is a US mutual fund managed by JNL Series Trust, categorised as United States Real Estate. 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: United States Real Estate
- Assets under management: $609.77M
- 1-year return: 12.3%
- SEC CIK: 0000933691
- SEC series ID: S000062461
- Share class ID: C000202639
C000202639 Investment Objective and Strategy
JNL/Heitman U.S. Focused Real Estate 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 seek total return through investment in real estate securities.
Principal investment strategy
Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in equity securities issued by real estate companies operating in the United States, including real estate investment trusts (REITs). Real estate equity securities include common stocks, preferred stocks, other equity securities issued by real estate companies, including REITs and similar REIT-like entities. A real estate company is one that (i) derives at least 50% of its revenue from the ownership, construction, financing, management or sale of commercial, industrial or residential real estate and land; or (ii) has at least 50% of its assets invested in real estate. REITs are companies that own interests in real estate or in real estate related loans or other interests, and their revenue primarily consists of rent derived from owned, income producing real estate properties and capital gains from the sale of such properties.
The Fund may invest without limit in shares of REITs. A REIT in the U.S. is generally not taxed on income distributed to shareholders so long as it meets certain tax related requirements, including the requirement that it distribute substantially all of its taxable income to such shareholders (other than net capital gains for each taxable year). REIT-like entities are organized outside of the U.S. and have operations and receive tax treatment in their respective countries similar to that of U.S. REITs. The Fund may invest in real estate companies of any market capitalization. Cohen & Steers Capital Management, Inc., the Funds sub-adviser (Sub-Adviser) uses a bottom-up strategy, relative value investment process when selecting publicly traded real estate securities. To guide the portfolio construction process, the Sub-Adviser uses a proprietary valuation model that quantifies relative valuation of real estate securities based on price-to-net asset value (NAV), cash flow multiple/growth ratios, and a dividend discount model (DDM).
The Sub-Adviser incorporates both quantitative and qualitative analysis in their NAV, cash flow, growth and DDM estimates. The company research process includes an evaluation of the commercial real estate supply and demand dynamics, management, strategy, property quality, financial strength and corporate structure. Judgments with respect to risk control, geographic and property sector diversification, liquidity and other factors are considered along with the models output and drive the Sub-Advisers investment decisions. The Fund may also invest in securities of foreign issuers that meet the same criteria for investment as domestic companies, including investments in American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), and European Depositary Receipts (EDRs). The Fund has the ability to invest in other investment companies, such as exchange-traded funds, money market funds, unit investment trusts and open-end and closed-end funds, including affiliated investment companies.
The Fund is classified as a non-diversified fund, as defined in the Investment Company Act of 1940, as amended (the 1940 Act), which means that it may invest more of its assets in fewer issuers than diversified mutual funds.
C000202639 Holdings
Top 10 holdings of JNL/Heitman U.S. Focused Real Estate Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Welltower Inc. | 15.65% |
| Digital Realty Trust, Inc. | 9.26% |
| ProLogis Inc. | 6.30% |
| Crown Castle Inc. | 5.47% |
| American Tower Corporation | 5.41% |
| Extra Space Storage Inc. | 4.36% |
| Equinix, Inc. | 3.91% |
| Sun Communities, Inc. | 3.25% |
| Iron Mountain Incorporated | 3.11% |
| Kimco Realty OP, LLC | 2.82% |
C000202639 Portfolio Allocation
Asset-class allocation of JNL/Heitman U.S. Focused Real Estate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.4% |
| Cash & Equivalents | 1.0% |
C000202639 Performance
Total returns for C000202639 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 13.9% |
| 1 year | 12.3% |
| 3 years (annualised) | 9.0% |
| 5 years (annualised) | 2.9% |
C000202639 Risk Information
Risk metrics for C000202639, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.7%
C000202639 Costs and Fees
C000202639 costs about $104 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.04%
- Gross expense ratio: 1.04%
- Portfolio turnover: 40%
- Brokerage commissions: 3.87 bps of average net assets (SEC N-CEN)
C000202639 Cashflows
Over the 12 months to 2026-06, JNL/Heitman U.S. Focused Real Estate Fund had net inflows of $505.98M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$10.20M |
| 2026-05 | −$10.15M |
| 2026-04 | $534.71M |
| 2026-03 | −$1.42M |
| 2026-02 | −$2.12M |
| 2026-01 | −$1.92M |
C000202639 Debt Constituents
No individual debt constituents are reported in JNL/Heitman U.S. Focused Real Estate Fund's latest SEC N-PORT filing.
C000202639 Prospectus and SEC Filings
Official JNL/Heitman U.S. Focused Real Estate 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 2024-10-17
- 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 United States Real Estate 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.