JNL/PPM America Investment Grade Credit Fund
Data updated: 2026-08-26
C000248334 — JNL/PPM America Investment Grade Credit Fund. Intermediate Total / Aggregate Bond · $175.59M AUM. Holdings, fees, performance and SEC filings.
C000248334 Fund Overview
JNL/PPM America Investment Grade Credit Fund is a US mutual fund managed by JNL Series Trust, categorised as Intermediate Total / Aggregate Bond. 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: Intermediate Total / Aggregate Bond
- Assets under management: $175.59M
- 1-year return: 4.1%
- SEC CIK: 0000933691
- SEC series ID: S000084075
- Share class ID: C000248334
C000248334 Investment Objective and Strategy
JNL/PPM America Investment Grade Credit Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JNL Series Trust.
Investment objective
The Fund seeks to realize maximum total return, consisting of income and capital appreciation.
Principal investment strategy
The Fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in a diversified portfolio of U.S. dollar-denominated investment grade debt securities of U.S. and foreign issuers (measured at the time of purchase). The debt securities in which the Fund may invest include, but are not limited to, government, corporate, mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities and cash equivalents. Investment grade securities are securities that are rated investment grade (i.e., rated at or above BBB- or Baa3) by at least one major credit rating agency or, if not rated by any credit rating agency, deemed to be investment-grade quality by PPM America, Inc.
(the Sub-Adviser). The Sub-Adviser will consider split-rated securities, which are securities that are rated as investment grade by at least one credit rating agency but rated below investment grade by another agency, to be investment grade securities. The Fund will seek to maintain a portfolio duration within one year (plus or minus) of the duration of the Bloomberg U.S. Credit Index. Duration is a measure of a bond prices sensitivity to a change in interest rates (e.g., if interest rates were to rise in a parallel manner by an equal 1%, a bond or bond fund with a five-year average duration would lose approximately 5% of its value). As of December 31, 2025, the ten-year historical average duration of the Bloomberg U.S. Credit Index was 6.04 years. The Funds investments in U.S. dollar-denominated securities of foreign issuers may include securities of issuers based in emerging markets.
Emerging markets countries are generally considered to be countries with developing economies or markets and may include any country recognized to be an emerging market country by the International Monetary Fund, MSCI, Inc. or Standard & Poors Corporation or recognized to be a developing country by the United Nations. For purposes of satisfying the 80% requirement, the Fund may also invest in derivative instruments, including commodity-linked derivative instruments, that have economic characteristics similar to the fixed income instruments mentioned above such as futures contracts, options or swap agreements. Specifically, the Fund may use treasury futures to hedge or manage duration or to increase the Funds exposure to interest rate or yield curve risk. The Fund may also use credit default swaps or credit default swap indices (CDX) to increase or decrease the Funds exposure to credit risk or to hedge credit risk in a particular name, industry or sector.
The Fund may, subject to applicable law, invest without limitation in derivative instruments. The Fund may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into purchase and sale contracts of mortgage pools or by using other investment techniques (such as dollar rolls), subject to applicable law. Additionally, the Fund has the ability to invest in other investment companies, such as money market funds and exchange-traded funds (ETFs). For purposes of satisfying the 80% requirement, the Fund may invest in fixed income ETFs comprised of the securities described above. The Fund may also invest in contingent convertible securities, sometimes referred to as CoCos. CoCos are a form of hybrid debt security issued by banking institutions that are intended to either automatically convert into equity or have their principal written down upon the occurrence of certain pre-specified trigger events.
C000248334 Holdings
Top 10 holdings of JNL/PPM America Investment Grade Credit Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JNL Government Money Market Fund | 1.92% |
| International Bank for Reconstruction and Development | 1.41% |
| Bank of America Corporation | 1.30% |
| Treasury, United States Department of | 1.14% |
| JPMorgan Chase & Co. | 0.93% |
| Goldman Sachs Group, Inc., The | 0.89% |
| United Airlines Pass Through Certificates, Series 2015-1 | 0.78% |
| Morgan Stanley | 0.76% |
| Morgan Stanley | 0.74% |
| European Investment Bank. The | 0.73% |
C000248334 Portfolio Allocation
Asset-class allocation of JNL/PPM America Investment Grade Credit Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 94.7% |
| Securitized | 4.1% |
| Cash & Equivalents | 2.5% |
C000248334 Performance
Total returns for C000248334 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.8% |
| 1 year | 4.1% |
| 3 years (annualised) | 5.7% |
C000248334 Risk Information
Risk metrics for C000248334, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.9%
C000248334 Costs and Fees
C000248334 costs about $53 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.53%
- Gross expense ratio: 0.53%
- Portfolio turnover: 70%
- Brokerage commissions: 0.24 bps of average net assets (SEC N-CEN)
C000248334 Cashflows
Over the 12 months to 2026-06, JNL/PPM America Investment Grade Credit Fund had net outflows of $114.64M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$2.85M |
| 2026-05 | −$1.89M |
| 2026-04 | −$1.12M |
| 2026-03 | −$2.00M |
| 2026-02 | −$2.11M |
| 2026-01 | −$2.25M |
C000248334 Debt Constituents
Largest debt holdings of JNL/PPM America Investment Grade Credit Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| International Bank for Reconstruction and Development | 1.41% |
| Bank of America Corporation | 1.30% |
| Treasury, United States Department of | 1.14% |
| JPMorgan Chase & Co. | 0.93% |
| Goldman Sachs Group, Inc., The | 0.89% |
| Morgan Stanley | 0.76% |
| Morgan Stanley | 0.74% |
| European Investment Bank. The | 0.73% |
| Anheuser-Busch InBev Worldwide Inc. | 0.69% |
| JPMorgan Chase & Co. | 0.66% |
C000248334 Prospectus and SEC Filings
Official JNL/PPM America Investment Grade Credit 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 Intermediate Total / Aggregate Bond 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.