Jackson National is to launch 21 new funds on its variable annuity platform in September, including 10 subadvised by Vanguard, seven with Mellon Capital and one with emerging markets star Rajiv Jain.
The firm has also filed to change some subadvisors on existing variable annuity funds, most prominently dropping Pimco in favor of Jeffrey Gundlach’s DoubleLine on a $3.5 billion fixed income offering.
It is latest in a long line of wins for DoubleLine on the Jackson platform. The Los Angeles-based bond manager is also a subadvisor on the $2.3 billion JNL/FPA + DoubleLine Flexible Allocation fund, the $1.1 billion JNL/DoubleLine Shiller Enhanced Cape fund and the $442.1 million JNL/DoubleLine Emerging Markets Fixed Income fund.
However, it was not all bad news for Pimco, which will subadvise a new fund on the platform, the JNL/Pimco Income fund, which is one of 21 new offerings set to land in September from the variable annuity provider. It will be managed by Daniel Ivascyn and Alfred Murata, according to a Securities and Exchange Commission filing.
Pimco is not the only big name to win a new mandate, with Vanguard picked to subadvise 10 upcoming strategies. These are:
- JNL/Vanguard Capital Growth fund
- JNL/Vanguard Equity Income fund
- JNL/Vanguard International fund
- JNL/Vanguard Small Company Growth fund
- JNL/Vanguard US Stock Market Index fund
- JNL/Vanguard International Stock Market Index fund
- JNL/Vanguard Global Bond Market Index fund
- JNL/Vanguard Moderate Allocation fund
- JNL/Vanguard Moderate Allocation Growth fund
- JNL/Vanguard Growth Allocation fund
Also in the pipeline is the JNL/GQG Emerging Markets fund, to be managed by Rajiv Jain, the JNL/ClearBridge Large Cap Growth fund, managed by Citywire + rated Peter Bourbeau and Margaret Vitrano, and the JNL/Invesco Diversified Dividend fund, managed by Meggan Walsh and her team.
With Mellon Capital, Jackson is launching the:
- JNL/Mellon Capital S&P 1500 Growth Index fund
- JNL/ Mellon Capital S&P 1500 Value Index fund
- JNL/Mellon Capital Consumer Staples Sector fund
- JNL/Mellon Capital Industrials Sector fund
- JNL/Mellon Capital Materials Sector fund
- JNL/Mellon Capital Real Estate Sector fund
Lastly, it will launch the JNL S&P 500 Index fund which will be subadvised by Mellon Capital.
Jackson currently has 149 mutual funds on its variable annuity platform, run by 61 external managers. In total these account for $206 billion assets under management.
Investors can access the platform through two variable annuity products: Jackson's flagship Perspective offering and its investment-only Elite Access product.
In September, the firm will add affiliate PPM America as a subadvisor on the $1.1 billion JNL Multi-Manager Small Cap Value fund.
This is also subadvised by Chicago Equity Partners, Cooke & Beiler, Cortina Asset Management and Century Capital Management.