EX-99.H OTH MAT CONT 15 exh1xxi_adminamend04292019.htm

EX. 99.28(h)(1)(xxi)


Amendment to

 

Amended and Restated Administration Agreement

 

Between JNL Series Trust and

 

Jackson National Asset Management, LLC

 

This Amendment is made by and between Jackson National Asset Management, LLC, a Michigan limited liability company (the “Administrator”), and JNL Series Trust, a Massachusetts business trust (the “Trust”).

 

Whereas, the Trust and the Administrator (the “Parties”) entered into an Amended and Restated Administration Agreement effective as of July 1, 2013, as amended (the “Agreement”), whereby the Administrator agreed to provide certain administrative services to several separate series of shares (each a “Fund”) of the Trust, as listed on Schedule A of the Agreement.

 

Whereas, the Board of Trustees of the Trust (the “Board”) has approved fee changes for certain Funds, as outlined below, effective April 29, 2019 (collectively, the “Fee Changes”):

 

Fee Changes

 

1) JNL/American Funds Balanced Fund;
2) JNL/American Funds Blue Chip Income and Growth Fund;
3) JNL/American Funds Capital Income Builder Fund;
4) JNL/American Funds Global Bond Fund;
5) JNL/American Funds Global Small Capitalization Fund;
6) JNL/American Funds Growth-Income Fund;
7) JNL/American Funds International Fund;
8) JNL/American Funds New World Fund;
9) JNL/Vanguard Capital Growth Fund;
10) JNL/Vanguard Equity Income Fund;
11) JNL/Vanguard International Fund; and
12) JNL/Vanguard Small Company Growth Fund.

 

Whereas, the Board has approved the removal of the following funds, and each fund’s respective Cayman Islands subsidiary, from Schedule C of the Agreement, effective April 29, 2019 (collectively, the “Cayman Removals”):

 

1) Fund: JNL/AB Dynamic Asset Allocation Fund

Cayman Islands subsidiary: JNL/AB Dynamic Asset Allocation Fund Ltd.;

 

2) Fund: JNL/AQR Managed Futures Strategy Fund

Cayman Islands subsidiary: JNL/AQR Managed Futures Strategy Fund Ltd.; and

 

3) Fund: JNL/BlackRock Global Allocation Fund

Cayman Islands subsidiary: JNL/BlackRock Global Allocation Fund Ltd.

 

Whereas, pursuant to Board approval of the Fee Changes and Cayman Removals, as outlined above, the Parties have agreed to amend the Agreement, effective April 29, 2019, to update certain administration fees for certain Funds, as outlined above, in Schedule B; and to update the list in Schedule C of the Agreement for Cayman Islands subsidiaries.

 

Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:

 

1) Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated April 29, 2019, attached hereto.

 

2) Schedule C to the Agreement is hereby deleted and replaced in its entirety with Schedule C dated April 29, 2019, attached hereto.

 

 

3) Each of the Parties represents and warrants to the others that it has full authority to enter into this Amendment, upon the terms and conditions hereof, and that the individual executing this Amendment is duly authorized to bind the respective party to this Amendment.

 

4) This Amendment may be executed in one or more counterparts, which together shall constitute one document.

 

In Witness Whereof, the Administrator and the Trust have caused this Amendment to be executed, effective April 29, 2019.

 

 

JNL Series Trust

 

Jackson National Asset Management, LLC

           
By: /s/ Kristen K. Leeman   By: /s/ Mark D. Nerud  
Name: Kristen K. Leeman   Name: Mark D. Nerud  
Title: Assistant Secretary   Title: President and CEO  

 

  -2-  
 

Schedule B

Dated April 29, 2019

Class A Shares and Class I Shares

 

     
Funds

 

Assets

 

 

Fee

 

 

JNL/American Funds Balanced Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds Blue Chip Income and Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds Capital Income Builder Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds Global Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds Global Small Capitalization Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds Growth-Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds International Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/American Funds New World Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL Aggressive Growth Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL Growth Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL Moderate Growth Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL Institutional Alt 25 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL Institutional Alt 50 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL Multi-Manager Alternative Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.20%

.18%

 

 

JNL Multi-Manager International Small Cap Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL Multi-Manager Mid Cap Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL Multi-Manager Small Cap Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL Multi-Manager Small Cap Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/AB Dynamic Asset Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/American Funds Growth Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/American Funds Moderate Growth Allocation Fund

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

  B-1  
 
     
Funds

 

Assets

 

 

Fee

 

 

JNL/AQR Large Cap Relaxed Constraint Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/AQR Managed Futures Strategy Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/BlackRock Global Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/BlackRock Global Natural Resources Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/BlackRock Large Cap Select Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Boston Partners Global Long Short Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Causeway International Value Select Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/ClearBridge Large Cap Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Crescent High Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/DFA Growth Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/DFA Moderate Growth Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/DFA U.S. Core Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/DoubleLine® Core Fixed Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/DoubleLine® Emerging Markets Fixed Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/DoubleLine® Shiller Enhanced CAPE® Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/First State Global Infrastructure Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/FPA + DoubleLine® Flexible Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Franklin Templeton Founding Strategy Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/Franklin Templeton Global Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Franklin Templeton Global Multisector Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Franklin Templeton Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Franklin Templeton International Small Cap Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Franklin Templeton Mutual Shares Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

  B-2  
 
     
Funds

 

Assets

 

 

Fee

 

 

JNL/Goldman Sachs Core Plus Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Goldman Sachs Emerging Markets Debt Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/GQG Emerging Markets Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Harris Oakmark Global Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Heitman U.S. Focused Real Estate Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Invesco China-India Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Invesco Diversified Dividend Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Invesco Global Real Estate Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Invesco International Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Invesco Small Cap Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/JPMorgan Hedged Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/JPMorgan MidCap Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/JPMorgan U.S. Government & Quality Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Lazard Emerging Markets Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Loomis Sayles Global Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital 10 x 10 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/Mellon Capital Bond Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Mellon Capital Consumer Staples Sector Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital Emerging Markets Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital European 30 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital Index 5 Fund

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/Mellon Capital Industrials Sector Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital International Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

  B-3  
 
     
Funds

 

Assets

 

 

Fee

 

 

JNL/Mellon Capital Materials Sector Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital MSCI KLD 400 Social Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital Pacific Rim 30 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital Real Estate Sector Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital S&P 400 MidCap Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Mellon Capital S&P 500 Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL S&P 500 Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Mellon Capital S&P 1500 Growth Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital S&P 1500 Value Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Mellon Capital Small Cap Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Mellon Capital Utilities Sector Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Morningstar Wide Moat Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/MFS Mid Cap Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Neuberger Berman Strategic Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Oppenheimer Emerging Markets Innovator Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Oppenheimer Global Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/PIMCO Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/PIMCO Real Return Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/PPM America Floating Rate Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/PPM America High Yield Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/PPM America Mid Cap Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/PPM America Small Cap Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/PPM America Total Return Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

  B-4  
 

 

     
Funds

 

Assets

 

 

Fee

 

 

JNL/PPM America Value Equity Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Scout Unconstrained Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/T. Rowe Price Established Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/T. Rowe Price Managed Volatility Balanced Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/T. Rowe Price Mid-Cap Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/T. Rowe Price Short-Term Bond Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/T. Rowe Price Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/Westchester Capital Event Driven Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/WMC Balanced Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/WMC Government Money Market Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/WMC Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/S&P 4 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/S&P Competitive Advantage Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/S&P Dividend Income & Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/S&P International 5 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/S&P Intrinsic Value Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/S&P Managed Aggressive Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/S&P Managed Conservative Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/S&P Managed Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/S&P Managed Moderate Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/S&P Managed Moderate Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.05%

.045%

 

 

JNL/S&P Mid 3 Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

JNL/S&P Total Yield Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

 

  B-5  
 
     
Funds

 

Assets

 

 

Fee

 

 

JNL/Vanguard Capital Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/Vanguard Equity Income Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/Vanguard Global Bond Market Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Vanguard Growth ETF Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Vanguard International Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/Vanguard International Stock Market Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Vanguard Moderate ETF Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Vanguard Moderate Growth ETF Allocation Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.15%

.13%

 

 

JNL/Vanguard Small Company Growth Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.08%

 

 

JNL/Vanguard U.S. Stock Market Index Fund

 

 

$0 to $3 billion

Assets over $3 billion

 

 

.10%

.09%

 

     

 

  B-6  
 

Schedule C

Dated April 29, 2019

(List of Adviser’s Administration Agreements with Funds’ Subsidiaries)

 

   

 

Fund

 

 

Subsidiary *

   

 

JNL Multi-Manager Alternative Fund (for the portion of assets managed by Boston Partners Global Investors, Inc.)

 

 

JNL Multi-Manager Alternative Fund (Boston Partners) Ltd.

 

*

The Administrator has entered into an Administration Agreement with the subsidiary, which is wholly owned by the Fund listed opposite its name, pursuant to which the subsidiary is obligated to pay an administration fee to the Administrator in the same amount as set forth in Schedule B for its parent Fund.

 

  C-1