JNL/Mellon S&P 500 Index A (JNL/Mellon S&P 500 Index Fund C) fond

The fund seeks to invest under normal circumstances at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in the stocks in the S&P 500 Index in proportion to their market capitalization weighting in the S&P 500 Index. The advisor does not employ traditional methods of active investment management, which involves the buying and selling of securities based upon security analysis.