EX. 99.28(g)(1)(xvi)

Amendment to

Master Global Custody Agreement between

the Customer and JPMorgan Chase Bank, N.A.

This Amendment to the Master Global Custody Agreement between the Customer and JPMorgan Chase Bank, N.A. dated August 12, 2009, as amended (“Agreement”), is by and between JNL Series Trust and JNL Investors Series Trust (each individually “Trust”, collectively, the “Trusts”), JNL Variable Fund LLC and JNL Strategic Income Fund LLC (each individually “Fund,” collectively, the “Funds”) and JPMorgan Chase Bank, N.A. (“Custodian”).

Whereas, the following fund merger, fund name change, and new funds have been approved by the Board of Trustees of JNL Series Trust:

Fund Merger

- JNL/M&G Global Basics Fund being merged into the JNL/Oppenheimer Global Growth Fund

Fund Name Change

- JNL/Brookfield Global Infrastructure Fund to JNL/Brookfield Global Infrastructure and MLP Fund

New Funds

- JNL/AllianceBernstein Dynamic Asset Allocation Fund

- JNL/MMRS Growth Fund

- JNL/MMRS Moderate Fund

- JNL/MMRS Conservative Fund

- JNL/Scout Unconstrained Bond Fund

- JNL/S&P Mid 3 Fund

-      JNL Investment Committee - Global Strategic Moderate with Alts Fund;

-      JNL Investment Committee - Global Strategic Moderately Aggressive with Alts Fund;

-      JNL Investment Committee - Strategic Moderate Fund; and

-      JNL Investment Committee - Strategic Moderately Aggressive Fund.

Whereas, pursuant to the fund merger, fund name change, and new funds outlined herein-above, the parties have agreed to amend Schedule A of the Agreement to:

- remove the JNL/M&G Global Basics Fund;

- change the JNL/Brookfield Global Infrastructure Fund to JNL/Brookfield Global Infrastructure and MLP Fund

- add the JNL/AllianceBernstein Dynamic Asset Allocation Fund;

- add the JNL/MMRS Growth Fund;

- add the JNL/MMRS Moderate Fund;

- add the JNL/MMRS Conservative Fund;

- add the JNL/Scout Unconstrained Bond Fund;

- add the JNL/S&P Mid 3 Fund;

-      add the JNL Investment Committee - Global Strategic Moderate with Alts Fund;

-      add the JNL Investment Committee - Global Strategic Moderately Aggressive with Alts Fund;

-      add the JNL Investment Committee - Strategic Moderate Fund; and

-      add the JNL Investment Committee - Strategic Moderately Aggressive Fund.

Now, Therefore, the parties hereto agree to amend the Agreement as follows:

1. To delete Schedule A of the Agreement, and substitute it with Schedule A attached hereto.

2. Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms.

3. The Trusts, Funds, and the Custodian hereby each represent and warrant to the other that it has full authority to enter into this Amendment upon the terms and conditions hereof and that the individual executing this Amendment on its behalf has the requisite authority to bind the Trusts, Fund or Custodian to this Amendment.

In Witness Whereof, the parties hereto have caused this Amendment to be executed as of March 7, 2014, dated as of April 28, 2014.

JNL Series Trust JNL Investors Series Trust JNL Variable Fund LLC JNL Strategic Income Fund LLC		JPMorgan Chase Bank, N.A.
By:	/s/ Kristen K. Leeman	By:	/s/ Anna Maria Calla Minniti
Name:	Kristen K. Leeman	Name:	Anna Maria Calla Minniti
Title:	Assistant Secretary	Title:	V.P.

Page 2 of 2

Schedule A

List of Funds as of April 28, 2014

JNL Investors Series Trust Funds

JNL/PPM America Low Duration Bond Fund

JNL/PPM America Total Return Fund

JNL Money Market Fund

JNL Series Trust Funds

JNL/American Funds Balanced Allocation Fund

JNL/American Funds Blue Chip Income and Growth Fund

JNL/American Funds Global Bond Fund

JNL/American Funds Global Small Capitalization Fund

JNL/American Funds Growth Allocation Fund

JNL/American Funds Growth-Income Fund

JNL/American Funds International Fund

JNL/American Funds New World Fund

JNL/AllianceBernstein Dynamic Asset Allocation Fund

JNL/AQR Managed Futures Strategy Fund

JNL/BlackRock Commodity Securities Strategy Fund

JNL/BlackRock Global Allocation Fund

JNL/BlackRock Large Cap Select Growth Fund

JNL/Brookfield Global Infrastructure and MLP Fund

JNL/Capital Guardian Global Balanced Fund

JNL/Capital Guardian Global Diversified Research Fund

JNL/DFA U.S. Core Equity Fund

JNL/Eagle SmallCap Equity Fund

JNL/Eastspring Investments Asia ex-Japan Fund

JNL/Eastspring Investments China-India Fund

JNL/Franklin Templeton Founding Strategy Fund

JNL/Franklin Templeton Global Growth Fund

JNL/Franklin Templeton Global Multisector Bond Fund

JNL/Franklin Templeton Income Fund

JNL/Franklin Templeton International Small Cap Growth Fund

JNL/Franklin Templeton Mutual Shares Fund

JNL/Franklin Templeton Small Cap Value Fund

JNL/Goldman Sachs Core Plus Bond Fund

JNL/Goldman Sachs Emerging Markets Debt Fund

JNL/Goldman Sachs Mid Cap Value Fund

JNL/Goldman Sachs U.S. Equity Flex Fund

JNL Institutional Alt 20 Fund

JNL Institutional Alt 35 Fund

JNL Institutional Alt 50 Fund

JNL Institutional Alt 65 Fund

A-1

JNL Series Trust Funds

JNL/Invesco Global Real Estate Fund

JNL/Invesco International Growth Fund

JNL/Invesco Large Cap Growth Fund

JNL/Invesco Mid Cap Value Fund

JNL/Invesco Small Cap Growth Fund

JNL/Ivy Asset Strategy Fund

JNL/JPMorgan International Value Fund

JNL/JPMorgan MidCap Growth Fund

JNL/JPMorgan U.S. Government & Quality Bond Fund

JNL/Lazard Emerging Markets Fund

JNL/Mellon Capital Bond Index Fund

JNL/Mellon Capital Dow Jones U.S. Contrarian Opportunities Index Fund

JNL/Mellon Capital Emerging Markets Index Fund

JNL/Mellon Capital European 30 Fund

JNL/Mellon Capital Global Alpha Fund

JNL/Mellon Capital Index 5 Fund

JNL/Mellon Capital International Index Fund

JNL/Mellon Capital Pacific Rim 30 Fund

JNL/Mellon Capital 10 x 10 Fund

JNL/Mellon Capital S&P 500 Index Fund

JNL/Mellon Capital S&P 400 MidCap Index Fund

JNL/Mellon Capital Small Cap Index Fund

JNL/Mellon Capital Utilities Sector Fund

JNL/MMRS Growth Fund

JNL/MMRS Moderate Fund

JNL/MMRS Conservative Fund

JNL/Morgan Stanley Mid Cap Growth Fund

JNL/Neuberger Berman Strategic Income Fund

JNL/Oppenheimer Global Growth Fund

JNL/PIMCO Real Return Fund

JNL/PIMCO Total Return Bond Fund

JNL/PPM America High Yield Bond Fund

JNL/PPM America Mid Cap Value Fund

JNL/PPM America Small Cap Value Fund

JNL/PPM America Value Equity Fund

JNL/Red Rocks Listed Private Equity Fund

JNL/Scout Unconstrained Bond Fund

JNL/T. Rowe Price Established Growth Fund

JNL/T. Rowe Price Mid-Cap Growth Fund

JNL/T. Rowe Price Short-Term Bond Fund

JNL/T. Rowe Price Value Fund

JNL/WMC Balanced Fund

A-2

JNL Series Trust Funds

JNL/WMC Money Market Fund

JNL/WMC Value Fund

JNL/S&P Managed Aggressive Growth Fund

JNL/S&P Managed Conservative Fund

JNL/S&P Managed Growth Fund

JNL/S&P Managed Moderate Fund

JNL/S&P Managed Moderate Growth Fund

JNL/S&P Competitive Advantage Fund

JNL/S&P Dividend Income & Growth Fund

JNL/S&P Intrinsic Value Fund

JNL/S&P Total Yield Fund

JNL/S&P 4 Fund

JNL/S&P Mid 3 Fund

JNL Disciplined Growth Fund

JNL Disciplined Moderate Fund

JNL Disciplined Moderate Growth Fund

JNL Investment Committee - Global Strategic Moderate with Alts Fund

JNL Investment Committee - Global Strategic Moderately Aggressive with Alts Fund

JNL Investment Committee - Strategic Moderate Fund

JNL Investment Committee - Strategic Moderately Aggressive Fund

JNL Variable Fund LLC Funds

JNL/Mellon Capital 25 Fund

JNL/Mellon Capital Communications Sector Fund

JNL/Mellon Capital Consumer Brands Sector Fund

JNL/Mellon Capital Financial Sector Fund

JNL/Mellon Capital Global 15 Fund

JNL/Mellon Capital Healthcare Sector Fund

JNL/Mellon Capital Nasdaq® 25 Fund

JNL/Mellon Capital Oil & Gas Sector Fund

JNL/Mellon Capital S&P® 24 Fund

JNL/Mellon Capital Technology Sector Fund

JNL/Mellon Capital Value Line® 30 Fund

JNL/Mellon Capital DowSM 10 Fund

JNL/Mellon Capital JNL Optimized 5 Fund

JNL/Mellon Capital S&P® SMid 60 Fund

JNL/Mellon Capital NYSE® International 25 Fund

JNL/Mellon Capital JNL 5 Fund

JNL Strategic Income Fund LLC Fund

JNL/PPM America Strategic Income Fund

A-3