Multi-Sector Bond Fund
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Fund Overview
Advisor
Mason Street Advisors, LLC
Subadvisor
Pacific Investment Management Company, LLC
Objective/Focus:
Normally invests at least 80% of its net assets in a diversified portfolio of fixed income instruments of varying maturities, which may be represented by forwards or derivatives. The objective is to seek maximum total return, consistent with prudent investment management.
Asset Class:
Bond
Style:
Domestic and International Bonds
Return of principal is not guaranteed. Bonds and other debt obligations are affected by changes in interest rates, inflation risk and the creditworthiness of their issuers. 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.
In contrast to owning individual bonds, there are ongoing fees and expenses associated with owning shares of bond funds. High yield bonds generally have greater price swings and higher default risks than investment grade bonds.
Investors should be aware of the risks of investments in foreign securities, particularly investments in securities of companies in developing nations. These include risks of currency fluctuation, of political and economic instability and of less well-developed government supervision and regulation of business and industry practices, as well as differences in accounting standards.
The Portfolio may use derivative instruments as part of its 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.
Fund Facts as of 6/30/2024
Fund Inception
04-30-2007
First Available for Variable Annuity
04-30-2007
First Available for Variable Life
06-30-2011
Net Assets
$1.3 Billion
Top 10 Portfolio Holdings % of Net Assets
Uniform Mortgage Backed Security TBA, Various
10.20%
US Treasury, Various
6.10%
BNP Paribas SA Repurchase Agreement
5.70%
Citigroup Global Markets, Inc. Repurchase Agreement
5.70%
Federal Home Loan Mortgage Corp., Various
3.50%
Canadian Imperial Bank of Commerce Repurchase Agreement
2.30%
Canadian Imperial Bank of Commerce Repurchase Agreement
1.70%
Saudi International Bond, Various
1.50%
Petroleos Mexicanos, Various
1.20%
European Union, 3%, 12/4/34
1.10%
Total % of Net Assets
39.00%
Download Publicly Disclosed HoldingsSector Weightings % of Equities
Corporate Bonds
44.90%
Structured Products
30.60%
Governments
22.20%
Bank Loan Obligations
2.90%
Municipal Bonds
0.50%
Common Stocks
0.10%
Convertible Corporate Bonds
0.00%
Short-Term Investments & Other Net Assets
-1.20%