Investment objective & strategy
As of Aug. 29, 2025 · prospectusStrategy. Effective August 28, 2025, in the section Summary Overview of Each Fund , under Principal Investment Strategies , for the JNL Multi-Manager International Small Cap Fund, please delete the seventh paragraph in the entirety and replace with the following: Two 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 … Effective August 28, 2025, in the section Summary Overview of Each Fund , under Principal Investment Strategies , for the JNL Multi-Manager International Small Cap Fund, please delete the seventh paragraph in the entirety and replace with the following: Two 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. In the section, Summary Overview of Each Fund , under Principal Investment Strategies , for the JNL Multi-Manager International Small Cap Fund, please delete the Baillie Gifford Strategy in the entirety.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NATIONAL ALUMIN | — | $9.44M | 1.39% |
| 5N PLUS INC COMMON STOCK | VNP CN | $9.04M | 1.33% |
| LOTTOMATICA GROU | — | $8.67M | 1.27% |
| AGF MANAGEMENT LTD COMMON STOCK | AGF/B CN | $8.46M | 1.24% |
| FINNING INTL INC | — | $8.23M | 1.21% |
| ZIM INTEGRATED SHIPPING SERVICES LTD | ZIM | $7.63M | 1.12% |
| SAMSUNG ENGINEER | — | $7.50M | 1.10% |
| SUPREME ELEC | — | $7.44M | 1.09% |
| LG INNOTEK CO LT | — | $7.41M | 1.09% |
| ALAMTRI RESOURCE | — | $7.15M | 1.05% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| CAUSEWAY INTERNATIONAL SMALL CAP FUND · CIISX, CVISX | 52% | 1.10% |
| VOYA MULTI-MANAGER INTERNATIONAL SMALL CAP FUND · NTKLX, NARCX, NAPIX, ISCWX, VVJFX | 11% | 0.00% |
| Victory Trivalent International Small-Cap Fund · MISAX, MCISX, MISIX, MSSIX, MYSIX | 11% | 0.97% |
Advisers
| Firm | Role |
|---|---|
| CAUSEWAY CAPITAL MANAGEMENT LLC | Sub-adviser |
| WCM INVESTMENT MANAGEMENT | Sub-adviser |
| Jackson National Asset Management, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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