High Yield Bond Fund

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Fund Overview

Advisor

Mason Street Advisors, LLC

Subadvisor

Federated Investment Management Company

Objective/Focus:

Normally invests at least 80% of net assets in non-investment grade debt securities. The objective is to achieve high current income and capital appreciation.

Asset Class:

Bond

Style:

Medium/Low Credit Quality, Moderate Interest Rate Sensitivity

Bonds and other debt obligations are affected by changes in interest rates, inflation risk and the creditworthiness of their issuers. High yield bonds generally have greater price swings and higher default risks than investment grade bonds. Return of principal is not guaranteed. In contrast to owning individual bonds, there are ongoing fees and expenses associated with owning shares of bond funds.

Fund Facts as of 6/30/2023

Fund Inception

05-03-1994

First Available for Variable Annuity

05-03-1994

First Available for Variable Life

05-03-1994

Net Assets

$714.9 Million

Top 10 Portfolio Holdings % of Net Assets

Ford Motor Credit Co. LLC, Various

2.50%

CCO Holdings LLC / CCO Holdings Capital Corp., Various

1.90%

HUB International, Ltd., Various

1.90%

CSC Holdings LLC, Various

1.50%

TransDigm, Inc., Various

1.40%

Tenet Healthcare Corp., Various

1.20%

EQM Midstream Partners LP, Various

1.10%

Clarios Global LP / Clarios US Finance Co., Various

1.10%

Antero Midstream Partners LP / Antero Midstream Finance Corp., Various

1.10%

Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., Various

1.10%

Total % of Net Assets

14.80%

Download Publicly Disclosed Holdings

Sector Weightings % of Equities

Consumer, Cyclical

17.80%

Communications

14.70%

Consumer, Non-Cyclical

13.40%

Industrial

13.20%

Energy

13.10%

Financial

9.70%

Technology

8.40%

Short-Term Investments & Other Net Assets

4.10%

Basic Materials

3.20%

Utilities

2.20%

Diversified

0.20%

Communication Services

0.00%