Long-Term U.S. Government Bond Fund
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Mason Street Advisors, LLC
Pacific Investment Management Company, LLC
Normally invests at least 80% of its net assets in a diversified portfolio of fixed income securities that are issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises and derivatives designed to replicate such securities. The objective is to seek maximum total return, consistent with preservation of capital and prudent investment management.
High Credit Quality, Extensive Interest Rate Sensitivity
Return of principal is not guaranteed. Bond funds have the same interest rate, inflation and credit risks that are associated with the underlying bonds owned by the Fund. When interest rates rise, bond prices fall. With a fixed income fund, when interest rates rise, the value of the fund's existing bonds drops, which could negatively affect overall fund performance.
The Portfolio may use derivative instruments as part of it investment strategy. Use of these instruments may involve certain risks such as leverage risk, liquidity risk, interest rate risk, market risk, credit risks, management risk and the risk that the Portfolio could not close out a position when it would be more advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments.
The potential leverage created by use of derivatives may cause the Portfolio to be more sensitive to interest rate movements and thus more volatile than other long-term U.S. government bond funds that do not use derivatives.
Fund Facts as of 6/30/2023
First Available for Variable Annuity
First Available for Variable Life
Top 10 Portfolio Holdings % of Net Assets
US Treasury, Various
Uniform Mortgage Backed Security TBA, Various
Resolution Funding Corp. Stripped, Various
Federal Home Loan Mortgage Corp., Series 4387, Class AZ, 4%, 9/15/44
Federal Home Loan Mortgage Corp., Series 4092, Class AY, 3%, 8/15/32
US Treasury Inflation Index Bond, 0.625%, 7/15/32
Federal Home Loan Mortgage Corp., Series 4398, Class ZX, 4%, 9/15/54
Federal National Mortgage Association, Series 2016-61, Class ML, 3%, 9/25/46
Government National Mortgage Association TBA, 4%, 8/21/53
VNDO Trust, Series 2016-350P, Class A, 3.805%, 1/10/35
Total % of Net Assets
129.30%Download Publicly Disclosed Holdings
Sector Weightings % of Equities
Short-Term Investments & Other Net Assets