JNL Multi-Manager U.S. Select Equity Fund

C000239074 Fund Overview

JNL Multi-Manager U.S. Select Equity Fund is a US mutual fund managed by JNL Series Trust, categorised as United States Large Cap Blend / Core 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: United States Large Cap Blend / Core Equity
• Assets under management: $1.55B
• 1-year return: 19.5%
• SEC CIK: 0000933691
• SEC series ID: S000078310
• Share class ID: C000239074

C000239074 Investment Objective and Strategy

JNL Multi-Manager U.S. Select 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 long-term capital appreciation.

Principal investment strategy

The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in equity securities. A significant portion of the Funds assets are invested in publicly traded common stocks of U.S. companies. The Fund may invest in equity securities of foreign companies in both developed and emerging markets. The Fund may also invest in U.S. Treasury securities. The Fund is classified as non-diversified, which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund. The Fund has flexibility in the relative weighting of each asset class and expects to vary the percentages of assets invested in each asset class from time to time.

JNAMs allocations to the underlying Sub-Advisers will be a function of a variety of factors including each underlying strategys expected returns, volatility, correlation, and contribution to the Funds overall risk profile. Three unaffiliated investment managers (Sub-Advisers) generally provide day to day management for a portion of the Funds assets (each portion is sometimes referred to as a sleeve). Each Sub-Adviser may use different investment strategies in managing Fund assets, acts independently from the others, and uses its own methodology for selecting investments. Jackson National Asset Management, LLC (JNAM or Adviser) is responsible for identifying and retaining the Sub-Advisers for the selected strategies and for monitoring the services provided by the Sub-Advisers. JNAM provides qualitative and quantitative supervision as part of its process for selecting and monitoring the Sub-Advisers.

JNAM is also responsible for selecting the Funds investment strategies and for determining the amount of Fund assets to allocate to each Sub-Adviser. Based on JNAMs ongoing evaluation of the Sub-Advisers, JNAM may adjust allocations among Sub-Advisers. JNAM also may choose to allocate the Funds assets to additional Sub-Advisers or to replace/remove Sub-Advisers in the future. There is no assurance that any or all of the strategies discussed in this prospectus will be used by JNAM or the Sub-Advisers. JNAM may also manage Fund assets directly to seek to enhance returns, or to hedge and to manage the Funds cash and short-term instruments. The Fund (all sleeves collectively) may invest up to 15% of its net assets in illiquid investments that are assets. The Fund considers investments in private equity securities and hedge funds as illiquid investments.

The Adviser may allocate up to 10% of the Funds total assets in other investment companies, which will primarily be in private funds or other pooled investment vehicles that would qualify as investment companies under the 1940 Act but for Sections 3(c)(1) or 3(c)(7) of the 1940 Act (Private Funds). Below are the principal investment strategies for each Sub-Advisers strategy, but the Sub-Advisers may also implement other investment strategies in keeping with their respective strategys objective. GQG Strategy GQG Partners LLC (GQG) constructs the GQG Strategy by investing primarily in equity securities of U.S. companies, including warrants and preferred stocks. The GQG Strategy may invest in initial public offerings (IPOs) and securities of companies with any market capitalization. GQG considers a company to be a U.S.

company if: (i) at least 50% of the companys assets are located in the U.S.; (ii) at least 50% of the companys revenue is generated in the U.S.; (iii) the company is organized, conducts its principal operations, or maintains its principal place of business or principal manufacturing facilities in the U.S.; (iv) the companys securities are traded principally in the U.S.; or (v) GQG otherwise believes that the companys assets are exposed to the economic fortunes and risks of the U.S. (because, for example, GQG believes that the companys growth is dependent on the U.S.). In managing the GQG Strategy, GQG typically pursues a growth style of investing as it seeks to capture market inefficiencies which GQG believes are driven by investors propensity to be short-sighted and overly focused on quarter-to-quarter price movements rather than a companys fundamentals over a longer time horizon (5 years or more).

Specifically, GQG seeks to buy companies that it believes are reasonably priced and have strong fundamental business characteristics, such as modest leverage, strong rates of return on equity and sustainable earnings and/or cash flow growth. GQG seeks to outperform peers over a full market cycle by seeking to capture market upside while limiting downside risk. GQG may also purchase stocks that would not fall into the traditional growth style box. In constructing its portfolio of securities, GQG is not constrained by sector or industry weights in the portfolios benchmark and, at times, emphasize one or more particular industries or sectors in the portfolio construction process. GQG relies on individual stock selection driven by a bottom-up research process rather than seeking to add value based on top-down, macro based criteria.

The GQG Strategys equity investments also may include sponsored and un-sponsored depositary receipts (including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs)), which are certificates typically issued by a bank or trust company that represent ownership interests in securities of non-U.S. companies. River Road Strategy River Road Asset Management, LLC (River Road) constructs the River Road Strategy by investing primarily in equity securities of large-capitalization U.S. companies that River Road believes are undervalued. The River Road Strategys equity investments may include common stock, foreign securities (directly and through depositary receipts, including ADRs, EDRs, and GDRs), and real estate investment trusts (REITs). The River Road Strategy may also invest in common stock of companies of other market capitalizations (measured at the time of acquisition), and publicly traded partnerships, including, but not limited to, master limited partnerships.

WCM Strategy WCM Investment Management, LLC (WCM) constructs the WCM Strategy by investing in equity securities of quality growth companies. WCM considers quality growth companies to have superior growth prospects, high returns on invested capital, and low or no debt. In constructing the WCM Strategy, WCM considers qualitative elements, such as corporate culture and the strength, quality, and trustworthiness of management. The WCM Strategys equity investments may include depositary receipts (including ADRs, EDRs, and GDRs).

C000239074 Holdings

Top 10 holdings of JNL Multi-Manager U.S. Select Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000239074 holdings

C000239074 Portfolio Allocation

Asset-class allocation of JNL Multi-Manager U.S. Select Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000239074 Performance

Total returns for C000239074 (as of 2026-10-01), from SEC filings.

C000239074 Risk Information

Risk metrics for C000239074, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 12.2%

C000239074 Costs and Fees

C000239074 costs about $69 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.69%
• Gross expense ratio: 0.71%
• Portfolio turnover: 107%
• Brokerage commissions: 3.52 bps of average net assets (SEC N-CEN)

C000239074 Cashflows

Over the 12 months to 2026-06, JNL Multi-Manager U.S. Select Equity Fund had net inflows of $72.19M, from monthly SEC N-PORT filings.

C000239074 Debt Constituents

No individual debt constituents are reported in JNL Multi-Manager U.S. Select Equity Fund's latest SEC N-PORT filing.

C000239074 Prospectus and SEC Filings

Official JNL Multi-Manager U.S. Select Equity 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 2024-04-26
• 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 Large Cap Blend / Core Equity funds tracked on ABC INVEST:

• Vanguard Total Stock Market Index Fund (VTSMX)
• Vanguard 500 Index Fund (VFINX)
• iShares Core S&P 500 ETF (IVV)
• Fidelity 500 Index Fund (FXAIX)
• Vanguard Institutional Index Fund (VINIX)

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.