Investment objective & strategy
As of Sept. 26, 2025 · prospectusObjective. The Fund seeks high current income and protection of capital through investments in intermediate and long-term U.S. Government debt securities.
Strategy. The Fund invests at least 80% of net assets in intermediate- and long-term U.S. Government and government-sponsored debt securities. The Fund may also invest in mortgage-backed securities, asset-backed securities, repurchase agreements, high quality corporate debt securities and high quality domestic money market securities. In addition, the Fund may invest up to 20% of its net assets in high quality foreign investments payable in U.S. dollars. In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Funds total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. … The Fund invests at least 80% of net assets in intermediate- and long-term U.S. Government and government-sponsored debt securities. The Fund may also invest in mortgage-backed securities, asset-backed securities, repurchase agreements, high quality corporate debt securities and high quality domestic money market securities. In addition, the Fund may invest up to 20% of its net assets in high quality foreign investments payable in U.S. dollars. In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Funds total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. Investors will be given at least 60 days written notice in advance of any change to the Funds 80% investment policy set forth above.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| FIXED INC CLEARING CORP.REPO | — | $9.26M | 5.21% |
| U.S. Treasury STRIPS Coupon | S | $5.88M | 3.31% |
| US TREASURY N/B | — | $4.65M | 2.62% |
| US TREASURY N/B | — | $4.13M | 2.32% |
| US TREASURY N/B | — | $4.00M | 2.25% |
| US TREASURY N/B | — | $3.85M | 2.17% |
| Government National Mortgage Association | — | $3.73M | 2.10% |
| US TREASURY N/B | — | $3.71M | 2.09% |
| US TREASURY N/B | — | $3.43M | 1.93% |
| US TREASURY N/B | — | $3.33M | 1.88% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| JNL/JPMorgan U.S. Government & Quality Bond Fund | 26% | 0.40% |
| JPMorgan Government Bond Fund · OGGYX, HLGAX, OGGAX, OGVCX, JGBZX, OGGPX, OGGQX | 21% | 0.30% |
| State Street(R) SPDR(R) Portfolio Intermediate Term Treasury ETF · SPTI | 16% | 0.03% |
Advisers
| Firm | Role |
|---|---|
| J.P. Morgan Investment Management, Inc. | Sub-adviser |
| The Variable Annuity Life Insurance Company | Adviser |
Footnotes
- Expense ratio as of September 26, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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