BOSTON--(BUSINESS WIRE)--Boston Partners, a premier provider of value equity investment products, today announced it has received a $320 million mandate from Jackson National Life Insurance Company (“Jackson®”) for the new JNL/Boston Partners Global Long Short Equity Fund (the “Fund”). Jackson, a leading provider of retirement solutions, has made the Fund available on its Elite Access® variable annuity investment platform. Elite Access offers portfolio diversification through the use of traditional and alternative investment classes in a tax-efficient vehicle.
The Fund will invest at least 40% of assets in undervalued international stocks, with the portfolio’s long positions ranging from 90 to 100%, and short positions of 30 to 60%. The portfolio will be comprised of over 200 stock positions spread across industries. Boston Partners launched a version of the Fund available to the public, the Robeco Boston Partners Global Long/Short Fund (BGLSX), earlier this year. The Fund’s investment process is similar to that of Robeco Boston Partners Long/Short Research Fund (BPIRX/BPRRX), a U.S. stock version launched in 2010. Global Long Short Equity is looking to satisfy investor demand for long/short equity strategies that produce attractive risk adjusted returns and add value on both the long and short sides of the portfolio. That same demand helped propel growth in Boston Partners’ Long/Short Research Fund, which entered a soft close earlier this year as assets approached $5 billion.
“We are very pleased to partner with Jackson and to be featured on the company’s Elite Access platform,” said Jay Feeney, Co-CEO and Chief Investment Officer, Boston Partners. “Boston Partners has more than 15 years of experience in long/short investing and has differentiated our global offering by applying company-by-company, bottom up research and security selection to a global opportunity set, including extensive work on physical short positions outside the U.S. We pride ourselves on our long and short capabilities, and on our significant experience in international investing, and are pleased this expertise will now be available to Jackson’s clients.”
Mr. Feeney will co-manage the Fund with Boston Partners Portfolio Manager Christopher Hart and Associate Portfolio Manager Josh Jones.
"We feel confident the new partnership with Boston Partners will further Jackson's commitment to helping investors address their individual financial goals," said Alison Reed, Senior Vice President of Product and Investment Management for Jackson National Life Distributors LLC, the distribution arm of Jackson. "Through access to high-quality money managers within Elite Access, advisors are provided with a combination of traditional and alternative asset classes to help create a diversified investment portfolio."
Boston Partners began its long/short investing in 1998, with introduction of the firm’s Boston Partners Long/Short Equity Fund (BPLSX), an all cap strategy focused on small and micro cap investing. The fund was closed to new investors in 2010 upon reaching $500 million in assets under management. Today, Boston Partners manages approximately $7.6 billion across its long/short strategies and approximately $67 billion overall in value equities.
About Boston Partners
Boston Partners is a premier provider
of value equity investment products that are firmly rooted in
fundamental research and are based on a disciplined investment
philosophy and process. The firm was founded in 1995 by 34 investment
professionals who had worked together for many years and share a
dedication to value investing and providing superior client service. In
2002, the firm was acquired by Robeco Group N.V., a large
Netherlands-based asset management firm and became an integral part of
Robeco Investment Management, Inc., the Group’s U.S.-based investment
operation. For more information, please visit www.boston-partners.com.
You should consider the investment objectives, risks, charges, and expenses of Robeco Investment Funds before investing. A prospectus with this and other information about the Fund may be obtained by visiting our website, www.boston-partners.com, or by calling (888) 261–4073. Robeco Investment Management is an SEC registered investment adviser. Robeco Investment Funds are distributed by Foreside Funds Distributor, LLC 400 Berwyn Park, 899 Cassatt Road, Berwyn, PA 19312
About Jackson
Jackson is a leading provider of retirement
solutions for industry professionals and their clients. The company
offers a diverse range of products including variable, fixed and fixed
index annuities designed for tax-efficient accumulation and distribution
of retirement income for retail customers, and fixed income products for
institutional investors. Jackson subsidiaries and affiliates provide
specialized asset management and retail brokerage services. With $206.8
billion in IFRS assets*, Jackson prides itself on product innovation,
sound corporate risk management practices and strategic technology
initiatives. Focused on thought leadership and education, the company
develops proprietary research, industry insights and financial
representative training on retirement planning and alternative
investment strategies. Jackson is also dedicated to corporate social
responsibility and supports charities focused on helping children and
seniors in the communities where its employees live and work. For more
information, visit www.jackson.com.
Jackson is the marketing name for Jackson National Life Insurance Company (Home Office: Lansing, Michigan), Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York) and Jackson National Life Distributors LLC.
*Jackson has $206.8 billion in total IFRS assets and $192.6 billion in IFRS policy liabilities primarily set aside to pay future policyowner benefits (as of 6/30/14). International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards indicating how transactions and other events should be reported in financial statements. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson’s parent company.
Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world's leading financial services groups. It provides insurance and financial services through its subsidiaries and affiliates throughout the world. It has been in existence for 165 years and has $781.1 billion in assets under management (as of June 30, 2014). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
Before investing, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
Although asset allocation among different asset categories generally limits risk and exposure to any one category, the risk remains that management may favor an asset category that performs poorly relative to the other asset categories. The subaccounts expect to invest in positions that emphasize alternatives or nontraditional asset classes or investment strategies and, as a result, are subject to the risk factors of those asset classes. Some of those risks include general economic risk, geopolitical risk, commodity-price volatility, counterparty and settlement risk, currency risk, derivatives risk, emerging markets risk, foreign securities risk, high-yield bond exposure, noninvestment-grade bond exposure commonly known as “junk bonds,” index investing risk, industry concentration risk, leveraging risk, market risk, prepayment risk, liquidity risk, real estate investment risk, sector risk, short sales risk, temporary defensive positions and large cash positions.
Variable annuities are long-term, tax-deferred investments designed for retirement, involve investment risks and may lose value. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59.
Tax deferral offers no additional value if an annuity is used to fund a qualified plan, such as a 401(k) or IRA, and may be found at a lower cost in other investment products. It also may not be available if the annuity is owned by a “non-natural person” such as a corporation or certain types of trusts.
Diversification does not assure a profit or protect against loss in a declining market.
The investment companies (subaccounts) offered in Elite Access are registered as investment companies under the Investment Company Act of 1940, as amended (“1940 Act”), and their shares are registered under the Securities Act of 1933, as amended. There are many differences among 1940 Act registered subaccounts and unregistered hedge funds, including but not limited to liquidity, restrictions on leverage and diversification, fund reporting and transparency, fees, and availability.
International investing involves special risks, such as exposure to potentially adverse local political and economic developments, nationalization and exchange controls, potentially lower liquidity and higher volatility, possible problems arising from accounting, disclosure, settlement and regulatory practices that differ from U.S. standards, and the chance that fluctuations in foreign exchange rates will decrease the investment’s value.
The latest income date allowed is age 95, which is the required age to annuitize or take a lump sum. Please see the prospectus for important information regarding the annuitization of a contract.
The standard death benefit is equal to contract value on the date of the claim and does not include any additional guarantees.
Elite Access Fixed and Variable Annuity (VA650, VA 660) is issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York (VA650NY, VA660NY) by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. May not be available in all states, and state variations apply. This product has limitations and restrictions, including withdrawal charges and excess interest adjustments (interest rate adjustments in New York) where applicable. Jackson issues other variable annuities with similar features, benefits, limitations and charges. Discuss them with your representative or contact Jackson for more information.
Disclosures:
Convertible securities have both debt
and equity characteristics. Equities may have greater potential growth,
but also higher volatility. The value of the convertible and debt
securities may fall when interest rates rise. Longer duration securities
may be more volatile and sensitive to interest rate changes than the
underlying common stock.
The Portfolio’s net asset value could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Certain countries may impose restrictions that block principal and interest payments to investors outside the country.
This portfolio invests in derivative instruments such as swaps, options, futures contracts, forward currency contracts, indexed and asset-backed securities, to be announced (TBAs) securities, interest rate swaps, credit default swaps, and certain exchange-traded funds that involve risks including liquidity, interest rate, market, currency, counterparty, credit and management risks, mispricing or improper valuation, low correlation with the underlying asset, rate, or index and could lose more than originally invested.
Investing in emerging markets may involve greater risks than investing in developed countries, including the possibility of industry concentration, nationalization, taxes and transaction costs, lower trading volumes, and less liquid securities, resulting in higher volatility.
An exchange-traded fund (“ETF”) may fail to accurately track the market segment or index it is meant to track or trade at a discount to its net asset value “NAV". Shareholders of the Fund will bear their proportionate share of the ETF fees in addition to their fund fees.
The Adviser is an indirect wholly-owned subsidiary of Prudential plc, a publicly traded company incorporated in the United Kingdom and is not affiliated in any manner with Prudential Financial Inc., a company whose principal place of business is in the United States of America. Through its ownership structure, the Adviser has a number of global financial industry affiliated entities, and as a result, may be prohibited or limited in effecting transactions in certain securities which may increase expenses and limit performance.
Investments in foreign securities are subject to adverse fluctuations in foreign currency values, political, less publicly available information, social and economic developments, and possible imposition of foreign withholding taxes on income payable on the securities. They may be more volatile and less liquid than U.S. markets.
A portfolio that invests in high-yield bonds, lower-rated bonds, and unrated securities are broadly referred to as “junk bonds” and are considered below “investment-grade” by national ratings agencies. They are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations.
Initial public offerings (IPOs) issued by unseasoned companies with little or no operating history are risky and highly volatile, but they can result in very large gains in their initial trading.
Investments in securities that are difficult to purchase or sell (illiquid or thinly-traded securities) may reduce returns if the Fund is unable to sell the securities at advantageous times or prices. Illiquid securities may also be difficult to value.
The manager’s investment techniques could fail to achieve the Fund’s investment objective or negatively affect the Fund’s investment performance.
As with any investment in securities, variable annuities are subject to investment risks, including the possible loss of principal. Investor units will fluctuate with the performance of the underlying investments, and there may be a gain or loss upon redemption. All forms of securities may decline in value due to factors affecting the securities markets generally such as real or perceived adverse economic, political, or regulatory conditions, inflation, changes in interest or currency rates, or adverse investor sentiment. Adverse market conditions may be prolonged and may not have the same impact on all types of securities. The values of securities may fall due to factors affecting a particular issuer, industry, or the securities market as a whole.
The Fund is considered nondiversified and may invest in a limited number of issuers. With a smaller number of different issuers, there is more risk than holding a larger number of issuers, since any changes may cause greater fluctuation of total return and share price of a nondiversified portfolio.
Writing call options can reduce the risk of owning equity securities, but it limits the opportunity to profit from an increase in the market value of stocks. Unusual market conditions may reduce the effectiveness of the Fund’s options strategies and may not reduce the Fund’s volatility to the extent desired.
Investing in smaller, newer companies generally involves greater risks than investing in larger, more established ones and are subject to more abrupt or erratic market movements than larger, more established companies or market averages.
These investments are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies. There is no legal process to collect all or part of the principal or interest due.
A security held in a segregated account cannot be sold while the position it is covering is outstanding, unless it is replaced with a similar security. As a result, there is a possibility that segregation of a large percentage of the Fund’s assets could impede portfolio management or the Fund’s ability to meet redemption requests or other current obligations.
Unseasoned issuers may not have an established financial history and may have limited product lines, markets or financial resources. Unseasoned issuers may depend on a few key personnel for management and may be susceptible to losses and risks of bankruptcy. As a result, such securities may be more volatile and difficult to sell.