Short-Term Bond Fund

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Fund Overview

Advisor

Mason Street Advisors, LLC

Subadvisor

T. Rowe Price Associates, Inc.

Objective/Focus:

Normally invests at least 80% of net assets in a diversified portfolio of investment grade debt securities. The primary investment objective of the Portfolio is to provide as high a level of current income as is consistent with prudent investment risk.

Asset Class:

Bond

Style:

High Credit Quality, Limited Interest Rate Sensitivity

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 drop, 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 the 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.

Fund Facts as of 12/31/2023

Fund Inception

04-30-2007

First Available for Variable Annuity

04-30-2007

First Available for Variable Life

06-30-2011

Net Assets

$385.2 Million

Top 10 Portfolio Holdings % of Net Assets

US Treasury, Various

17.60%

Federal National Mortgage Association, Various

2.90%

Government National Mortgage Association, Various

1.10%

Federal Home Loan Mortgage Corp., Various

0.80%

AbbVie, Inc., Various

0.80%

The Goldman Sachs Group, Inc., Various

0.80%

Vistra Operations Co. LLC, Various

0.80%

Bank of America Corp., Various

0.70%

Bank of Montreal, Various

0.70%

JPMorgan Chase & Co., Various

0.70%

Total % of Net Assets

26.90%

Download Publicly Disclosed Holdings

Sector Weightings % of Equities

Corporate Bonds

49.40%

Structured Products

29.20%

Governments

18.80%

Short-Term Investments & Other Net Assets

2.50%

Municipal Bonds

0.10%