JNL/T. Rowe Price Capital Appreciation Fund Class I Strategy

The investment seeks long-term capital appreciation by investing primarily in common stocks. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 50% of its total assets in common stocks. The remaining assets are generally invested in convertible securities, corporate and government debt (including mortgage- and asset-backed securities), bank loans (which represent an interest in amounts owed by a borrower to a syndicate of lenders), in keeping with the fund's objective. The fund may invest up to 25% of its total assets in foreign securities.