EX-99.n 18F-3 PLAN
JNL INVESTORS SERIES TRUST
PLAN PURSUANT TO RULE 18f-3(d)
UNDER THE INVESTMENT COMPANY ACT OF 1940
Effective ___________, 2000
WHEREAS, the Board of Trustees of JNL Investors Series Trust (the
"Trust") has considered the following multi-class plan (the "Plan") under which
the Trust may offer multiple classes of shares of the JNL Money Market Fund
("Fund") of the Trust pursuant to Rule 18f-3 (the "Rule") under the Investment
Company Act of 1940 (the "1940 Act"); and
WHEREAS, a majority of the Trustees of the Trust and a majority of the
Trustees who are not interested persons of the Trust have found the Plan, as
proposed, to be in the best interests of each class of shares of the JNL Money
Market Fund of the Trust individually and the Trust as a whole.
NOW, THEREFORE, the Trust hereby approves and adopts the following Plan
pursuant to the Rule.
The Plan
The JNL Money Market Fund of the Trust may from time to time issue one
or more of the following classes of shares: Institutional Class shares and
Service Class shares. Each Class is subject to such investment minimums and
other conditions of eligibility as are set forth in the Trust's prospectuses,
each as from time to time in effect (each, a "Prospectus"). The differences in
expenses between these Classes of shares, are set forth below in this Plan,
which is subject to change, to the extent permitted by law and by the Agreement
and Declaration of Trust and Bylaws of the Trust, as amended from time to time,
by action of the Board of Trustees of the Trust. There are no conversion rights
or features relating to either Class of shares. Nothing in this Plan shall limit
the authority of the Trustees to create additional classes of shares of the Fund
or of any future fund of the Trust.
Class Characteristics
Institutional Class shares and Service Class shares of the Fund
represent interests in the assets of the Fund. The Classes differ materially
only with respect to the amount of Rule 12b-1 fees (the "Rule 12b-1 Fees") and
Administration Fees borne by the Classes. Rule 12b-1 Fees are paid under a plan
adopted pursuant to Rule 12b-1 promulgated under the 1940 Act (the "Rule 12b-1
Plan") relating to the Service Class of shares adopted by the Trustees of the
Trust. Administration Fees are paid pursuant to an Administration Agreement
between Jackson National Financial Services, LLC and the Trust.
Expense Allocations
The Service Class of shares pays Rule 12b-1 Fees at an annual rate of
.50% of the Fund's average daily net assets. The Institutional Class of shares
pays no Rule 12b-1 Fees. The Institutional Class of shares pays Administration
Fees at an annual rate of .10% of the Fund's average daily net assets while the
Service Class pays Administration Fees at an annual rate of .25% of the Fund's
average daily net assets. Each Class may, at the Trustees' discretion, also pay
a different share of other expenses, not including advisory or custodial fees or
other expenses related to the management of the Trust's assets, if these
expenses are actually incurred in a different amount by that Class, or if the
Class receives services of a different kind or to a different degree than the
other Classes ("Class Expenses"). All other expenses will be allocated to each
Class on the basis of the net asset value of that Class in relation to the net
asset value of the Fund attributable to that Class.
Voting Rights
Each Class of shares of the Fund has identical voting rights except that each
Class has exclusive voting rights on any matter submitted to shareholders that
relates solely to that Class, and has separate voting rights on any matter
submitted to shareholders in which the interests of one Class differ from the
interests of any other Class. In matters as to which one or more Classes do not
have exclusive voting rights, all Classes of shares of the Fund will vote
together, except when a Class vote is required by the 1940 Act.
Amendments
The Plan may be amended from time to time in accordance with the
provisions and requirements of the Rule.
