EX-99.23(h)(27)
AMENDED AND RESTATED ADMINISTRATION AGREEMENT
This Agreement is made as of December 15, 2004, between JNL SERIES TRUST, a
Massachusetts business trust ("Trust"), and XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company ("Administrator").
WHEREAS, the Trust is registered under the Investment Company Act of 1940,
as amended ("1940 Act"), as an open-end management investment company and has
established several separate series of shares ("Fund"), with each Fund having
its own assets and investment policies; and
WHEREAS, the Trust desires to retain the Administrator to furnish
administrative services to each Fund listed in Schedule A attached hereto, and
to such other Funds of the Trust hereinafter established as agreed to from time
to time by the parties, evidenced by an addendum to Schedule A (hereinafter
"Fund" shall refer to each Fund which is subject to this Agreement and all
agreements and actions described herein to be made or taken by a Fund shall be
made or taken by the Trust on behalf of the Fund), and the Administrator is
willing to furnish such services,
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the parties agree as follows:
1. SERVICES OF THE ADMINISTRATOR
1.1 ADMINISTRATIVE SERVICES. The Administrator shall supervise each Fund's
business and affairs and shall provide such services required for effective
administration of such Fund as are not provided by employees or other
agents engaged by such Fund; PROVIDED, that the Administrator shall not
have any obligation to provide under this Agreement any direct or indirect
services to a Fund's shareholders, any services related to the distribution
of a Fund's shares, or any other services that are the subject of a
separate agreement or arrangement between a Fund and the Administrator.
Subject to the foregoing, in providing administrative services hereunder,
the Administrator shall:
1.1.1 OFFICE SPACE, EQUIPMENT AND FACILITIES. Furnish without cost to
each Fund, or pay the cost of, such office space, office equipment and
office facilities as are adequate for the Funds' needs;
1.1.2 PERSONNEL. Provide, without remuneration from or other cost to
each Fund, the services of individuals competent to perform all of the
Funds' executive, administrative and clerical functions that are not
performed by employees or other agents engaged by the Fund or by the
Administrator acting in some other capacity pursuant to a separate
agreement or arrangement with the Fund;
1.1.3 AGENTS. Assist each Fund in selecting and coordinating the
activities of the other agents engaged by the Fund, including the
Funds' custodian, independent auditors and legal counsel;
1.1.4 TRUSTEES AND OFFICERS. Authorize and permit the Administrator's
directors, officers or employees who may be elected or appointed as
Trustees or officers of the Trust to serve in such capacities, without
remuneration from or other cost to the Trust or any Fund;
1.1.5 BOOKS AND RECORDS. Ensure that all financial, accounting and
other records required to be maintained and preserved by each Fund are
maintained and preserved by it or on its behalf in accordance with
applicable laws and regulations; and
1.1.6 REPORTS AND FILINGS. Assist in the preparation of all periodic
reports by each Fund to shareholders of such Fund and all reports and
filings required to maintain the registration and qualification of the
Fund and the Fund's shares, or to meet other regulatory or tax
requirements applicable to the Fund, under federal and state
securities and tax laws.
2. EXPENSES OF EACH FUND
2.1 EXPENSES TO BE PAID BY THE ADMINISTRATOR. If the Administrator pays or
assumes any expenses of the Trust or a Fund not required to be paid or
assumed by the Administrator under this Agreement, the Administrator
shall not be obligated hereby to pay or assume the same or any similar
expense in the future; PROVIDED, that nothing herein contained shall
be deemed to relieve the Administrator of any obligation to the Trust
or to a Fund under any separate agreement or arrangement between the
parties.
2.1.1 CUSTODY. All charges of depositories, custodians, and other
agents for the transfer, receipt, safekeeping, and servicing of its
cash, securities, and other property;
2.1.2 SHAREHOLDER SERVICING. All expenses of maintaining and servicing
shareholder accounts, including, but not limited to, the charges of
any shareholder servicing agent, dividend disbursing agent or other
agent engaged by a Fund to service shareholder accounts;
2.1.3 SHAREHOLDER REPORTS. All expenses of preparing, setting type,
printing and distributing reports and other communications to
shareholders of a Fund;
2.1.4 PROSPECTUSES. All expenses of preparing, setting in type,
printing and mailing annual or more frequent revisions of a Fund's
Prospectus and SAI and any supplements thereto and of supplying them
to shareholders of the Fund and Account holders;
2.1.5 Fund Accounting Services AND FUND VALUATION. All expenses for
fund accounting services to compute a Fund's NAV per share, including
any equipment or services obtained for the purpose of pricing shares
or valuing the Funds' investments;
2.1.6 COMMUNICATIONS. All charges for equipment or services used for
communications between the Administrator or the Fund and any
custodian, shareholder servicing agent, accounting services agent, or
other agent engaged by a Fund;
2.1.7 LEGAL AND ACCOUNTING FEES. All charges for services and expenses
of the Fund's legal counsel and independent auditors excluding,
however, the charges for services and expenses of independent legal
counsel to the disinterested Trustees (as defined in the Investment
Company Act of 1940, as amended). In addition, all audit and tax
return related charges and expenses;
2.1.8 SHAREHOLDER MEETINGS. All expenses incidental to holding
meetings of shareholders, including the printing of notices and proxy
materials, and proxy solicitation therefor;
2.1.9 BONDING AND INSURANCE. All expenses of bond, liability, and
other insurance coverage required by law or regulation or deemed
advisable by the Trustees, including, without limitation, such bond,
liability and other insurance expense that may from time to time be
allocated to the Fund in a manner approved by the Trustees, excluding,
however, the expenses of the Trustees' Errors & Omission policy;
2.1.10 TRADE ASSOCIATION FEES. Its proportionate share of all fees,
dues and other expenses incurred in connection with the Trust's
membership in any trade association or other investment organization;
2.1.11 LIPPER EXPENSES. All charges for services and expenses for
Lipper reports as requested or used by the Trustees;
2.2.12 PROXY EXPENSES. All charges for services and expenses paid to a
third party for proxy expenses related to Form N-PX reporting and
compliance;
2.2.13 LICENSE FEES. For all license fees the Administrator will pay
the license fee minimums and fixed annual fees;
2.2.14 JNAM CHIEF COMPLIANCE OFFICER. For all expenses related to
his/her position as JNAM's Chief Compliance Officer; and
2.1.15 SALARIES. All salaries, expenses and fees of the officers,
trustees, or employees of the Trust who are officers, directors or
employees of the Administrator.
2.2 EXPENSES TO BE PAID BY THE FUND. Each Fund shall bear all expenses of
its operation, except those specifically allocated to the
Administrator under this Agreement or under any separate agreement
between such Fund and the Administrator. Expenses to be borne by such
Fund shall include both expenses directly attributable to the
operation of that Fund and the offering of its shares, as well as the
portion of any expenses of the Trust that is properly allocable to
such Fund in a manner approved by the Trustees. Subject to any
separate agreement or arrangement between the Trust of a Fund and the
Administrator, the expenses hereby allocated to each Fund, and not to
the Administrator, include, but are not limited to:
2.2.1 REGISTRATION FEES. All fees and expenses of registering and
maintaining the registration of the Trust and each Fund under the 1940
Act and the registration of each Fund's shares under the Securities
Act of 1933 (the "1933 Act") or all fees and expenses of registering
and maintaining the registration of the Trust and each Fund under the
laws and regulations of foreign countries in which the funds may
invest, fees and expenses paid to the Public Company Accounting
Oversight Board and any fees for CUSIP number registration;
2.2.2 BROKERAGE COMMISSIONS. All brokers' commissions and other
charges incident to the purchase, sale or lending of a Fund's
securities;
2.2.3 TAXES. All taxes or governmental fees or accounting related
services payable by or with respect to a Fund to federal, state or
other governmental agencies, domestic or foreign, including stamp or
other transfer taxes;
2.2.4 NONRECURRING AND EXTRAORDINARY EXPENSES. Such nonrecurring and
extraordinary expenses as may arise, including the costs of actions,
suits, or proceedings to which the Fund is a party and the expenses a
Fund may incur as a result of its legal obligation to provide
indemnification to the Trust's officers, Trustees and agents;
2.2.5 INVESTMENT ADVISORY SERVICES. Any fees and expenses for
investment advisory services that may be incurred or contracted for by
a Fund;
2.2.6 INDEPENDENT LEGAL COUNSEL TO DISINTERESTED TRUSTEES. All charges
for services and expenses of independent legal counsel to the
disinterested Trustees (as defined in the Investment Company Act of
1940, as amended);
2.2.7 TRUSTEES' FEES AND EXPENSES. All compensation of Trustees, all
expenses incurred in connection with such Trustees' services as
Trustees, and all other expenses of meetings of the Trustees or
committees thereof;
2.2.8 RULE 12B-1 FEES. All Rule 12b-1 fees paid to the Funds'
distributor pursuant to a Distribution Plan;
2.2.9 ASSET-BASED LICENSE FEES. All asset-based license fees for the
Funds;
2.2.10 FUNDS' CHIEF COMPLIANCE OFFICER. For all expenses related to
his/her position as the Fund's Chief Compliance Officer; and
2.2.11 TRUSTEES ERRORS AND OMISSION POLICY. For all expenses of the
Trustees' Errors & Omission policy.
3. ADMINISTRATION FEE
3.1 FEE. As compensation for all services rendered, facilities provided
and expenses paid or assumed by the Administrator to or for each Fund
under this Agreement, such Fund shall pay the Administrator an annual
fee as set out in Schedule B to this Agreement.
3.2 COMPUTATION AND PAYMENT OF FEE. The administration fee shall accrue on
each calendar day; and shall be payable monthly on the first business
day of the next succeeding calendar month.
4. OWNERSHIP OF RECORDS
All records required to be maintained and preserved by each Fund pursuant
to the provisions or rules or regulations of the Securities and Exchange
Commission ("SEC") under section 31(a) of the 1940 Act and maintained and
preserved by the Administrator on behalf of such Fund are the property of
such Fund and shall be surrendered by the Administrator promptly on request
by the Fund; PROVIDED, that the Administrator may at its own expense make
and retain copies of any such records.
5. REPORTS TO ADMINISTRATOR
Each Fund shall furnish or otherwise make available to the Administrator
such copies of that Fund's Prospectus, SAI, financial statements, proxy
statements, reports, and other information relating to its business and
affairs as the Administrator may, at any time or from time to time,
reasonably require in order to discharge its obligations under this
Agreement.
6. REPORTS TO EACH FUND
The Administrator shall prepare and furnish to each Fund such reports,
statistical data and other information in such form and at such intervals
as such Fund may reasonably request.
7. OWNERSHIP OF SOFTWARE AND RELATED MATERIALS
All computer programs, written procedures and similar items developed or
acquired and used by the Administrator in performing its obligations under
this Agreement shall be the property of the Administrator, and no Fund will
acquire any ownership interest therein or property rights with respect
thereto.
8. CONFIDENTIALITY
The Administrator agrees, on its own behalf and on behalf of its employees,
agents and contractors, to keep confidential any and all records maintained
and other information obtained hereunder which relate to any Fund or to any
of a Fund's former, current or prospective shareholders, EXCEPT that the
Administrator may deliver records or divulge information (a) when requested
to do so by duly constituted authorities after prior notification to and
approval in writing by such Fund (which approval will not be unreasonably
withheld and may not be withheld by such Fund where the Administrator
advises such Fund that it may be exposed to civil or criminal contempt
proceeding or other penalties for failure to comply with such request) or
(b) whenever requested in writing to do so by such Fund.
9. THE ADMINISTRATOR'S ACTIONS IN RELIANCE ON FUNDS' INSTRUCTIONS, LEGAL
OPINIONS, ETC.; FUNDS' COMPLIANCE WITH LAWS.
9.1 The Administrator may at any time apply to an officer of the Trust for
instructions, and may consult with legal counsel for a Fund or with
the Administrator's own legal counsel, in respect of any matter
arising in connection with this Agreement; and the Administrator shall
not be liable for any action taken or omitted to be taken in good
faith and with due care in accordance with such instructions or with
the advice or opinion of such legal counsel. The Administrator shall
be protected in acting upon any such instructions, advice, or opinion
and upon any other paper or document delivered by a Fund or such legal
counsel which the Administrator believes to be genuine and to have
been signed by the proper person or persons, and the Administrator
shall not be held to have notice of any change of status or authority
of any officer or representative of the Trust, until receipt of
written notice thereof from the Trust.
9.2 Except as otherwise provided in this Agreement or in any separate
agreement between the parties and except for the accuracy of
information furnished to each Fund by the Administrator, each Fund
assumes full responsibility for the preparation, contents, filing and
distribution of its Prospectus and SAI, and full responsibility for
other documents or actions required for compliance with all applicable
requirements of the 1940 Act, the Securities Exchange Act of 1934, the
1933 Act, and any other applicable laws, rules and regulations of
governmental authorities having jurisdiction over such Fund.
10. SERVICES TO OTHER CLIENTS
Nothing herein contained shall limit the freedom of the Administrator or
any affiliated person of the Administrator to render administrative or
shareholder services to other investment companies, to act as administrator
to other persons, firms, or corporations, or to engage in other business
activities.
11. LIMITATION OF LIABILITY REGARDING THE TRUST
The Administrator shall look only to the assets of each Fund for
performance of this Agreement by the Trust on behalf of such Fund, and
neither the Trustees of the Trust nor any of the Trust's officers,
employees or agents, whether past, present or future shall be personally
liable therefor.
12. INDEMNIFICATION BY FUND
Each Fund shall indemnify the Administrator and hold it harmless from and
against any and all losses, damages and expenses, including reasonable
attorneys' fees and expenses, incurred by the Administrator that result
from (i) any claim, action, suit or proceeding in connection with the
Administrator's entry into or performance of this Agreement with respect to
such Fund; or (ii) any action taken or omission to act committed by the
Administrator in the performance of its obligations hereunder with respect
to such Fund; or (iii) any action of the Administrator upon instructions
believed in good faith by it to have been executed by a duly authorized
officer or representative of the Trust with respect to such Fund; PROVIDED,
that the Administrator shall not be entitled to such indemnification in
respect of actions or omissions constituting negligence or misconduct on
the part of the Administrator or its employees, agents or contractors.
Before confessing any claim against it which may be subject to
indemnification by a Fund hereunder, the Administrator shall give such Fund
reasonable opportunity to defend against such claim in its own name or in
the name of the Administrator.
13. INDEMNIFICATION BY THE ADMINISTRATOR
The Administrator shall indemnify each Fund and hold it harmless from and
against any and all losses, damages and expenses, including reasonable
attorneys' fees and expenses, incurred by such Fund which result from (i)
the Administrator's failure to comply with the terms of this Agreement with
respect to such Fund; or (ii) the Administrator's lack of good faith in
performing its obligations hereunder with respect to such Fund; or (iii)
the Administrator's negligence or misconduct or its employees, agents or
contractors in connection herewith with respect to such Fund. A Fund shall
not be entitled to such indemnification in respect of actions or omissions
constituting negligence or misconduct on the part of that Fund or its
employees, agents or contractors other than the Administrator, unless such
negligence or misconduct results from or is accompanied by negligence or
misconduct on the part of the Administrator, any affiliated person of the
Administrator, or any affiliated person of an affiliated person of the
Administrator. Before confessing any claim against it which may be subject
to indemnification hereunder, a Fund shall give the Administrator
reasonable opportunity to defend against such claim in its own name or the
name of the Fund.
14. EFFECT OF AGREEMENT
Nothing herein contained shall be deemed to require the Trust or any Fund
to take any action contrary to the Trust Instrument or By-laws of the Trust
or any applicable law, regulation or order to which it is subject or by
which it is bound, or to relieve or deprive the Trustees of their
responsibility for and control of the conduct of the business and affairs
of the Fund or the Trust.
15. TERM OF AGREEMENT
The term of this Agreement shall begin on the date first above written with
respect to each Fund listed in Schedule A on the date hereof and, unless
sooner terminated as hereinafter provided, this Agreement shall remain in
effect through December 15, 2005. With respect to each Fund added by
execution of an Addendum to Schedule A, the term of this Agreement shall
begin on the date of such execution. Thereafter, in each case this
Agreement shall continue in effect with respect to each Fund from year to
year, subject to the termination provisions and all other terms and
conditions hereof; PROVIDED, such continuance with respect to a Fund is
approved at least annually by vote or written consent of the Trustees,
including a majority of the Trustees who are not interested persons of
either party hereto ("Disinterested Trustees"); and PROVIDED FURTHER, that
neither party has terminated the Agreement in accordance with Section 17.
The Administrator shall furnish any Fund, promptly upon its request, such
information as may reasonably be necessary to evaluate the terms of this
Agreement or any extension, renewal or amendment thereof. However, the
addition or deletion of a Fund reflecting changes that have been formally
approved by resolution by the Board of Trustees will not require approval
by the Board of Trustees.
16. AMENDMENT OR ASSIGNMENT OF AGREEMENT
Any amendment to this Agreement shall be in writing signed by the parties
hereto; PROVIDED, that no such amendment shall be effective unless
authorized on behalf of any Fund (i) by resolution of the Trustees,
including the vote or written consent of a majority of the Disinterested
Trustees, or (ii) by vote of a majority of the outstanding voting
securities of such Fund.
This Agreement shall terminate automatically and immediately in the event
of its assignment; provided, that with the consent of a Fund, the
Administrator may subcontract to another person any of its responsibilities
with respect to such Fund.
17. TERMINATION OF AGREEMENT
This Agreement may be terminated at any time by either party hereto,
without the payment of any penalty, upon at least sixty days' prior written
notice to the other party; PROVIDED, that in the case of termination by any
Fund, such action shall have been authorized (i) by resolution of the
Trustees, including the vote or written consent of the Disinterested
Trustees, or (ii) by vote of a majority of the outstanding voting
securities of such Fund.
18. USE OF NAME
Each Fund hereby agrees that if the Administrator shall at any time for any
reason cease to serve as administrator to a Fund, such Fund shall, if and
when requested by the Administrator, thereafter refrain from using the name
"Xxxxxxx National Asset Management, LLC" or the initials "JNAM" in
connection with its business or activities, and the foregoing agreement of
each Fund shall survive any termination of this Agreement and any extension
or renewal thereof.
19. INTERPRETATION AND DEFINITION OF TERMS
Any question of interpretation of any term or provision of this Agreement
having a counterpart in or otherwise derived from a term or provision of
the 1940 Act shall be resolved by reference to such term or provision of
the 1940 Act and to interpretation thereof, if any, by the United States
courts or, in the absence of any controlling decision of any such court, by
rules, regulations or orders of the SEC validly issued pursuant to the 1940
Act. Specifically, the terms "vote of a majority of the outstanding voting
securities," "interested persons," "assignment" and affiliated person," as
used in this Agreement shall have the meanings assigned to them by section
2(a) of the 1940 Act. In addition, when the effect of a requirement of the
1940 Act reflected in any provision of this Agreement is modified,
interpreted or relaxed by rule, regulation or order of the SEC, whether of
special or general application, such provision shall be deemed to
incorporate the effect of such rule, regulation or order.
20. CHOICE OF LAW
This Agreement is made and to be principally performed in the State of
Michigan, and except insofar as the 1940 Act or other federal laws and
regulations may be controlling, this Agreement shall be governed by, and
construed and enforced in accordance with, the internal laws of the State
of Illinois.
21. CAPTIONS
The captions in this Agreement are included for convenience of reference
only and in no way define or delineate nay of the provisions hereof or
otherwise affect their construction or effect.
22. EXECUTION ON COUNTERPARTS
This Agreement may be executed simultaneously in counterparts, each of
which shall be deemed an original, but all of which together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
signed by their respective officers thereunto duly authorized and their
respective seals to be hereunto affixed, as of the day and year first above
written.
JNL SERIES TRUST
Attest: /s/ Xxxxx X. Xxxx By: /s/ Xxxxxx X. Xxxxxx
-------------------------------------------- ----------------------------------------
Xxxxx X. Xxxx Xxxxxx X. Xxxxxx
Secretary President
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
Attest: /s/ Xxxxx X. Xxxx By: /s/ Xxxx X. Xxxxx
-------------------------------------------- -------------------------------------------------
Xxxxx X. Xxxx Xxxx X. Xxxxx
Secretary Chief Financial Officer
SCHEDULE A
DATED DECEMBER 15, 2004
JNL/AIM Large Cap Growth Fund
JNL/AIM Small Cap Growth Fund
JNL/Xxxxx Growth Fund
JNL/Alliance Capital Growth Fund
JNL/Eagle Core Equity Fund
JNL/Eagle SmallCap Equity Fund
JNL/FMR Balanced Fund
JNL/FMR Capital Growth Fund
JNL/JPMorgan International Value Fund
JNL/Lazard Small Cap Value Fund
JNL/Lazard Mid Cap Value Fund
JNL/Mellon Capital Management S&P 500 Index Fund
JNL/Mellon Capital Management S&P 400 MidCap Index Fund
JNL/Mellon Capital Management Small Cap Index Fund
JNL/Mellon Capital Management International Index Fund
JNL/Mellon Capital Management Bond Index Fund
JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Fund
JNL/Xxxxxxxxxxx Global Growth Fund
JNL/Xxxxxxxxxxx Growth Fund
JNL/PIMCO Total Return Bond Fund
JNL/Xxxxxx Equity Fund
JNL/Xxxxxx International Equity Xxxx
XXX/Xxxxxx Xxxxxx Xxxxxx Xxxx
XXX/Xxxxxx Value Equity Fund
JNL/Salomon Brothers High Yield Bond Fund
JNL/Salomon Brothers Strategic Bond Fund
JNL/Salomon Brothers U.S. Government & Quality Bond Fund
JNL/Select Balanced Fund
JNL/Select Large Cap Growth Fund
JNL/Select Global Growth Fund
JNL/Select Money Market Fund
JNL/Select Value Fund
JNL/X. Xxxx Price Established Growth Fund
JNL/X. Xxxx Price Mid-Cap Growth Fund
JNL/X. Xxxx Price Value Fund
JNL/S&P Managed Growth Fund
JNL/S&P Managed Conservative Fund
JNL/S&P Managed Moderate Growth Fund
JNL/S&P Managed Moderate Fund
JNL/S&P Managed Aggressive Growth Fund
SCHEDULE B
DATED DECEMBER 15, 2004
Class A & B Shares
FUNDS FEE
----- ---
JNL/AIM Large Cap Growth Fund .10%
JNL/AIM Small Cap Growth Fund .10%
JNL/Xxxxx Growth Fund .10%
JNL/Alliance Capital Growth Fund .10%
JNL/Eagle Core Equity Fund .10%
JNL/Eagle SmallCap Equity Fund .10%
JNL/FMR Balanced Fund .10%
JNL/FMR Capital Growth Fund .10%
JNL/JPMorgan International Value Fund .15%
JNL/Lazard Small Cap Value Fund .10%
JNL/Lazard Mid Cap Value Fund .10%
JNL/Mellon Capital Management S&P 500 Index Fund .10%
JNL/Mellon Capital Management S&P 400 MidCap Index Fund .10%
JNL/Mellon Capital Management Small Cap Index Fund .10%
JNL/Mellon Capital Management International Index Fund .15%
JNL/Mellon Capital Management Bond Index Fund .10%
JNL/Mellon Capital Management Enhanced S&P 500 Stock Index Fund .10%
JNL/Xxxxxxxxxxx Global Growth Fund .15%
JNL/Xxxxxxxxxxx Growth Fund .10%
JNL/PIMCO Total Return Bond Fund .10%
JNL/Xxxxxx Equity Fund .10%
JNL/Xxxxxx International Equity Fund .15%
JNL/Xxxxxx Xxxxxx Growth Fund .10%
JNL/Xxxxxx Value Equity Fund .10%
JNL/Salomon Brothers High Yield Bond Fund .10%
JNL/Salomon Brothers Strategic Bond Fund .10%
JNL/Salomon Brothers U.S. Government & Quality Bond Fund .10%
JNL/Select Balanced Fund .10%
JNL/Select Large Cap Growth Fund .10%
JNL/Select Global Growth Fund .15%
JNL/Select Money Market Fund .10%
JNL/Select Value Fund .10%
JNL/X. Xxxx Price Established Growth Fund .10%
JNL/X. Xxxx Price Mid-Cap Growth Fund .10%
JNL/X. Xxxx Price Value Fund .10%
JNL/S&P Managed Growth Fund .05%
JNL/S&P Managed Conservative Fund .05%
JNL/S&P Managed Moderate Growth Fund .05%
JNL/S&P Managed Moderate Fund .05%
JNL/S&P Managed Aggressive Growth Fund .05%
