EX. 99.28(g)(3)(xii)

Amendment to Master Custodian Agreement

This Amendment, effective as of April 29, 2019, to the Master Custodian Agreement dated as of December 30, 2010, (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Agreement”) is by and among each management investment company, and each Cayman Islands entity identified on Appendix A attached thereto (each a “Fund” and collectively, the “Funds”), and State Street Bank and Trust Company, a Massachusetts trust company (the “Custodian”).

Whereas, the Custodian and the Funds (the “Parties”) have entered into the Agreement by which the Custodian provides certain custodial services relating to securities and other assets of each Fund.

Whereas, the Fund segregates and separately manages certain of the Fund’s portfolio of assets (each in an account).

Whereas, the Board of Trustees of JNL Series Trust (the “Board”) has approved the dissolution of the Cayman Islands entity, JNL/AB Dynamic Asset Allocation Fund Ltd., effective April 29, 2019 (the “AB Ltd. Dissolution”).

Whereas, pursuant to Board approval of the AB Ltd. Dissolution, the Parties have agreed to amend the Agreement, including its Appendix A, to remove JNL/AB Dynamic Asset Allocation Fund Ltd., as a Fund, as defined in the Agreement, effective April 29, 2019.

Now, Therefore, in consideration of the promises and mutual covenants herein contained, the Parties hereto agree as follows:

1) JNL/AB Dynamic Asset Allocation Fund Ltd. is hereby removed as a Fund from the Agreement, effective April 29, 2019.

2) Appendix A to the Agreement is hereby deleted and replaced, in its entirety, with Appendix A dated April 29, 2019, attached hereto.

3) Except as specifically amended hereby, all other terms and conditions of the Agreement shall remain in full force and effect.

4) This Amendment may be executed in several counterparts, each of which shall be deemed to be an original, and all such counterparts taken together shall constitute one and the same instrument. Counterparts may be executed in either original or electronically transmitted form (e.g., faxes or emailed portable document format (PDF) form), and the Parties hereby adopt as original any signatures received via electronically transmitted form.

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In Witness Whereof, the Parties hereto have caused this Amendment to be executed by their officers designated below, effective April 29, 2019.

JNL Series Trust, JNL Investors Series Trust, JNL Variable Fund LLC, and Jackson Variable Series Trust, each on behalf of its Portfolios listed on Appendix A hereto JNL/AB Dynamic Asset Allocation Fund Ltd. JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund Ltd. JNL Multi-Manager Alternative Fund (Boston Partners) Ltd. JNL/Eaton Vance Global Macro Absolute Return Advantage Fund Ltd.
By:	/s/ Emily J. Bennett
Name:	Emily J. Bennett
Title:	Assistant Secretary

PPM Funds, on behalf of its Portfolios listed on Appendix A hereto
By:	/s/ Emily J. Bennett
Name:	Emily J. Bennett
Title:	Vice President and Secretary

State Street Bank and Trust Company
By:	/s/ Andrew Erickson
Name:	Andrew Erickson
Title:	Executive Vice President

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Appendix A

to

Master Custodian Agreement

(Updated as of April 29, 2019)

Fund: JNL Series Trust, for the following Portfolios

JNL Multi-Manager Alternative Fund

JNL Multi-Manager International Small Cap Fund

JNL Multi-Manager Mid Cap Fund

JNL/AB Dynamic Asset Allocation Fund

JNL/AQR Large Cap Relaxed Constraint Equity Fund

JNL/Boston Partners Global Long Short Equity Fund

JNL/Causeway International Value Select Fund

JNL/ClearBridge Large Cap Growth Fund

JNL/Crescent High Income Fund

JNL/DFA Growth Allocation Fund

JNL/DFA Moderate Growth Allocation Fund

JNL/DFA U.S. Core Equity Fund

JNL/DoubleLine^® Core Fixed Income Fund

JNL/DoubleLine^® Emerging Markets Fixed Income Fund

JNL/DoubleLine^® Shiller Enhanced CAPE^® Fund

JNL/FPA + DoubleLine Flexible Allocation Fund (for the portion of assets managed by DoubleLine Capital LP)

JNL/FPA + DoubleLine Flexible Allocation Fund (for the portion of assets managed by First Pacific Advisors, LLC)

JNL/Goldman Sachs Core Plus Bond Fund

JNL/Goldman Sachs Emerging Markets Debt Fund

JNL/GQG Emerging Markets Equity Fund

JNL/Harris Oakmark Global Equity Fund

JNL/Invesco Diversified Dividend Fund

JNL/Invesco Global Real Estate Fund

JNL/Invesco International Growth Fund

JNL/Invesco Small Cap Growth Fund

JNL/JPMorgan Hedged Equity Fund

JNL/JPMorgan Midcap Growth Fund

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

JNL/Lazard Emerging Markets Fund

JNL/Loomis Sayles Global Growth Fund

JNL/Mellon Capital European 30 Fund

JNL/Mellon Capital Pacific Rim 30 Fund

JNL/MFS Mid Cap Value Fund

JNL/Neuberger Berman Strategic Income Fund

JNL/Oppenheimer Emerging Markets Innovator Fund

JNL/Oppenheimer Global Growth Fund

JNL/PPM America Floating Rate Income 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 Total Return Fund

JNL/PPM America Value Equity Fund

JNL/T. Rowe Price Established Growth Fund

JNL/T. Rowe Price Managed Volatility Balanced Fund

JNL/T. Rowe Price Mid-Cap Growth Fund

JNL/T. Rowe Price Short-Term Bond Fund

JNL/T. Rowe Price Value Fund

JNL/Westchester Capital Event Driven Fund

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Fund: JNL Investors Series Trust, for the following Portfolios

JNL/PPM America Low Duration Bond Fund

Fund: JNL Variable Fund LLC, for the following Portfolios

JNL/Mellon Capital JNL 5 Fund

JNL/Mellon Capital MSCI World Index Fund

JNL/Mellon Capital Nasdaq^® 100 Index Fund

JNL/Mellon Capital S&P^® SMid 60 Fund

Fund: Jackson Variable Series Trust, for the following Portfolios

JNL/DFA U.S. Small Cap Fund

JNL/DoubleLine Total Return Fund

JNL/Eaton Vance Global Macro Absolute Return Advantage Fund

JNL/Lazard International Strategic Equity Fund

JNL/Neuberger Berman Currency Fund

JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund

JNL/Nicholas Convertible Arbitrage Fund

JNL/PPM America Long Short Credit Fund

JNL/T. Rowe Price Capital Appreciation Fund

Fund: PPM Funds, for the following Portfolios

PPM Core Plus Fixed Income Fund

PPM Credit Fund

PPM Floating Rate Income Fund

PPM High Yield Core Fund

PPM Long Short Credit Fund

PPM Strategic Income Fund

PPM Large Cap Value Fund

PPM Mid Cap Value Fund

PPM Small Cap Value Fund

Cayman Islands Entities:

JNL Multi-Manager Alternative Fund (Boston Partners) Ltd.

JNL/Eaton Vance Global Macro Absolute Return Advantage Fund Ltd.

JNL/Neuberger Berman Risk Balanced Commodity Strategy Fund Ltd.

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