JNL/Neuberger Berman Gold Plus Strategy Fund
JNL Series Trust
Expense ratio
Net assets1
$130.79M
Holdings1
79
Category
Taxable Bond
Return

Investment objective & strategy

As of April 24, 2025 · prospectus

Objective. The investment objective of the Fund is to seek total return.

Strategy. Under normal conditions, the Fund will primarily invest in gold futures contracts that provide investment exposure to gold and in fixed-income instruments. The Fund may also invest in exchange-traded funds (ETFs) that provide investment exposure to physical gold. The Fund concentrates its investments in the metals and mining industry and therefore invests 25% or more of its total assets in such industry. The Fund may also invest in derivatives and ETFs that provide investment exposure to precious metals, including, but not limited to, silver, platinum, and palladium. Because gold is a commodity, the Fund seeks to gain long exposure to the commodity markets by investing, directly or indirectly, in futures contracts on individual commodities and other commodity-linked derivative instruments. The … Under normal conditions, the Fund will primarily invest in gold futures contracts that provide investment exposure to gold and in fixed-income instruments. The Fund may also invest in exchange-traded funds (ETFs) that provide investment exposure to physical gold. The Fund concentrates its investments in the metals and mining industry and therefore invests 25% or more of its total assets in such industry. The Fund may also invest in derivatives and ETFs that provide investment exposure to precious metals, including, but not limited to, silver, platinum, and palladium. Because gold is a commodity, the Fund seeks to gain long exposure to the commodity markets by investing, directly or indirectly, in futures contracts on individual commodities and other commodity-linked derivative instruments. The performance of these commodity-linked derivative instruments is expected to correspond to the performance of the commodity underlying the derivative instrument, without requiring the Fund to invest directly in commodities. For purposes of calculating the Funds exposure to gold, the Funds investments in gold futures contracts are based on the notional value. Fund assets not invested in commodity-linked derivative instruments, other commodity-related instruments, or exchange-traded funds that provide investment exposure to commodities will be invested in fixed income securities, cash or cash equivalent instruments, or money market mutual funds. The Fund may hold commodity-linked derivative instruments that provide leveraged exposure to commodities so that the Funds investment exposure to commodities (through their use of commodity-linked derivative instruments) may, at times, equal or slightly exceed the Funds net assets. In managing the Funds commodity investments, the Funds sub-adviser, Neuberger Berman Investment Advisers LLC (the Sub-Adviser) primarily seeks exposure to the gold commodity. The Sub-Adviser will also incorporate a marginal mix of investments with exposures to precious metal commodities and bitcoin futures to seek to diversify the Funds investment exposure. To gain exposure to gold and other precious metals commodities, the Fund will invest in futures contracts that are typically within 1 year to expiration. To gain exposure to bitcoin, the Fund may invest in cash-settled bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME) that are typically within 1 year to expiration. The Fund may also invest in physical bitcoin exchange-traded funds (ETFs) to gain exposure to bitcoin. The Fund will not directly invest in bitcoin or other cryptocurrencies, but may invest in bitcoin through ETFs as described in this paragraph. The Fund may invest up to 5% of its total assets in assets linked to bitcoin, which are either physical bitcoin ETFs or cash-settled bitcoin futures traded on the CME, which is a futures exchange registered with the Commodity Futures Trading Commission (CFTC). Bitcoin is a digital currency, which is a means of payment that exists in a purely electronic form and is accounted for and transferred using online systems. Due to market appreciation or other fluctuations in the Funds net asset level, the Funds investments in cash-settled bitcoin futures traded on the CME as well as physical bitcoin ETFs may be rebalanced on a monthly basis. The Funds fixed income investments will be mainly in investment grade fixed income securities and are intended to provide liquidity and limit downside risk to capital and may serve as collateral for the Funds derivative instruments. These may include fixed income securities issued by the U.S. Government and its agencies and instrumentalities, bank certificates of deposit, mortgage-backed securities, asset-backed securities, and corporate securities. The Fund considers fixed income securities to be investment grade if, at the time of investment, they are rated within the four highest categories by at least one independent credit rating agency or, if unrated, are determined by the Sub-Adviser to be of comparable quality. The Fund may invest in cash or cash equivalent instruments. Because the Fund will use derivatives to gain exposure to gold and other precious metals, as well as cash-settled bitcoin futures traded on the CME, and because derivatives may not require the Fund to deposit the full notional amount of the investment, the Fund may invest a significant amount of its assets in money market mutual funds or other fixed income instruments, as described above. The Funds use of commodity-linked derivative instruments to obtain long exposure to the commodity markets may result in leverage, which amplifies the risks that are associated with the commodities underlying the derivative instruments. The Funds aggregate investment exposure, as measured on a notional basis, may be greater than 100% of the Funds total assets from time to time. Although the Fund invests primarily in domestic securities and other instruments, it may also invest in foreign securities and other instruments. In an effort to achieve its goal, the Fund may engage in active and frequent trading.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
JNL Government Money Market Fund $20.30M 15.53%
U.S. Treasury Bills $10.00M 7.65%
SHS BEN INT IBIT $3.93M 3.00%
MORGAN STANLEY B $3.44M 2.63%
WELLS FARGO + COMPANY SR UNSECURED 01/28 VAR WFC $3.26M 2.49%
Caterpillar Financial Services Corporation $2.55M 1.95%
BANK OF AMERICA CORP SR UNSECURED 09/27 VAR $2.55M 1.95%
BANK OF NEW YORK MELLON CORP THE $2.42M 1.85%
Abbott Laboratories $2.30M 1.76%
TRUIST BANK FRN SOFR+77 07/24/2028 $2.13M 1.63%
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Allocation by sector

As of March 31, 2026 · N-PORT
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Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
26
Exited
18
Increased
22
Decreased
0
Unchanged
32

How 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.

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Advisers

As of December 31, 2025 · N-CEN
FirmRole
Neuberger Berman Investment Advisers LLC Sub-adviser
Jackson National Asset Management, LLC Adviser

Footnotes

  1. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.

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