JNL/Morningstar PitchBook Listed Private Equity Fund
Data updated: 2026-05-28
C000225796 — JNL/Morningstar PitchBook Listed Private Equity Fund. Holdings, fees, performance and SEC filings.
C000225796 Fund Overview
JNL/Morningstar PitchBook Listed Private Equity Fund is a US mutual fund managed by JNL Series Trust, categorised as Global (incl. US) Multi-Cap / All-Cap Blend / Core Financials Equity. 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: Global (incl. US) Multi-Cap / All-Cap Blend / Core Financials Equity
- Assets under management: $14.65M
- 1-year return: -8.7%
- SEC CIK: 0000933691
- SEC series ID: S000071127
- Share class ID: C000225796
C000225796 Investment Objective and Strategy
JNL/Morningstar PitchBook Listed Private Equity 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 provide long-term capital growth by seeking to track the performance of the Morningstar PitchBook Developed Markets Listed Private Equity Index SM (Index).
Principal investment strategy
The Fund seeks to invest under normal circumstances at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in the stocks in the Index. The Index tracks the performance of public companies with significant private equity exposure that are listed in developed markets countries. More specifically, the Index is comprised of companies whose primary industry is classified by PitchBook Data, Inc. as private equity and are involved in venture capital, private equity buyouts or growth and mezzanine financing as well as companies with substantial private equity investments. The Index constituents may include direct private equity investors, alternative asset managers, fund-of-funds, holding companies, and closed-end funds with significant private equity exposures.
While the Index may include fund of funds, the Fund will not invest in those constituents. The weight of each security in the Index is based on float market capitalization, adjusted for a purity score, and subjected to investment stage and maximum security weight constraints. The Index is reconstituted annually and implemented after the close of business on the third Friday of December and is effective the following Monday. The Index is rebalanced quarterly and implemented after the close of business on the third Friday of March, June, September, and December and is effective the following Monday. As of December 31, 2024, the Index had 77 constituents and the full market capitalization range was $188.01 million to $130.90 billion. The number of stocks in the Index is subject to the selection and eligibility criteria at the time of reconstitution.
As this is a rule-based index, private securities are not a part of the Index by rule. As of December 31, 2024, the total percentage weight of the Index in foreign securities (non-U.S.) was 51.41%. The Fund will concentrate its investments in the capital markets industry to the extent that the Index is designed to track is also so concentrated. As such, the Funds investments may be concentrated in the private equity/venture capital industry. The Fund employs a passive investment approach, called indexing, which attempts to replicate the investment performance of the Index through representative sampling. The Fund does not employ traditional methods of active investment management, which involves the buying and selling of securities based upon security analysis. The Fund attempts to replicate the Index by investing all or substantially all of its assets in the stocks that make up the Index.
When attempting to replicate an index such as the Index, portfolio turnover is reduced to what the index adds and deletes, contract owner contributions and withdrawals, and reinvestment income. The replicated portfolio does not require rebalancing as a result of market movement. The Fund stays aligned with the benchmark automatically with the change in share price, due to the close similarity between the holdings of the Index and those of the Fund. The Fund is managed and rebalanced to reflect the composition of the Index. The Fund may also invest in a combination of exchange-traded funds (ETFs) and cash to maintain correlation to its index, to assist with index rebalances, and to meet redemption or purchase requests. The Fund may invest in financial futures, a type of derivative that may be used to obtain exposure to a variety of underlying assets, to provide liquidity for cash flows, to hedge dividend accruals or for other purposes that facilitate meeting the Funds objective.
The Funds use of financial futures is intended to assist replicating the investment performance of the Index. The Fund is a non-diversified fund, as defined in 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.
C000225796 Holdings
Top 10 holdings of JNL/Morningstar PitchBook Listed Private Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Blackstone Inc. | 10.39% |
| KKR & Co. Inc. | 10.17% |
| Apollo Global Management, Inc. | 6.25% |
| Partners Group Holding AG | 4.92% |
| Brookfield Asset Management Ltd. | 4.80% |
| Eqt Ab | 4.79% |
| Ares Management Corporation | 4.56% |
| T. Rowe Price Group, Inc. | 4.02% |
| 3i Group PLC | 3.75% |
| Carlyle Group Inc., The | 3.06% |
C000225796 Portfolio Allocation
Asset-class allocation of JNL/Morningstar PitchBook Listed Private Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.3% |
| Cash & Equivalents | 0.5% |
C000225796 Performance
Total returns for C000225796 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -18.1% |
| 1 year | -8.7% |
| 3 years (annualised) | 11.1% |
| 5 years (annualised) | 3.0% |
C000225796 Risk Information
Risk metrics for C000225796, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.9%
C000225796 Costs and Fees
C000225796 costs about $51 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.51%
- Gross expense ratio: 0.51%
- Portfolio turnover: 77%
- Brokerage commissions: 0.96 bps of average net assets (SEC N-CEN)
C000225796 Cashflows
Over the 12 months to 2026-03, JNL/Morningstar PitchBook Listed Private Equity Fund had net inflows of $665.94K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-03 | −$422.34K |
| 2026-02 | −$307.08K |
| 2026-01 | $499.04K |
| 2025-12 | $82.68K |
| 2025-11 | −$20.92K |
| 2025-10 | −$16.52K |
C000225796 Debt Constituents
No individual debt constituents are reported in JNL/Morningstar PitchBook Listed Private Equity Fund's latest SEC N-PORT filing.
C000225796 Prospectus and SEC Filings
Official JNL/Morningstar PitchBook Listed Private Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-04-24
- Prospectus (485BPOS) — filed 2024-04-26
- Prospectus (485BPOS) — filed 2023-04-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Portfolio holdings (N-PORT) — filed 2025-11-25
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Global (incl. US) Multi-Cap / All-Cap Blend / Core Financials Equity 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.