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Flexibly Managed Fund


Sub-Adviser - T. Rowe Price Associates:
Since 1937, the T. Rowe Price Associates investment approach strives to achieve superior performance, but is always mindful of the risks incurred relative to the potential rewards. T. Rowe Price's consistent investment philosophy helps mitigate unfavorable changes and take advantage of favorable ones, all while providing its clients with world-class investment guidance and attentive service.

Seeks to maximize total return (capital appreciation and income).


Fund Highlight:
Invests in common stocks of well-established U.S. companies with above-average potential for capital growth as well as convertible securities, preferred stocks, corporate and governmental debt securities.

Investment Matrix

Market Capitalization:
Large Cap - Companies with a market capitalization value of more than $10 billion.

Investment Style:
A value style seeks securities that are undervalued in price and have the potential to appreciate.

Investment Information as of December 31, 2013
Total Assets $2,688,365,365
Fund Manager(s) David Giroux, CFA
Total Fund Expenses 0.84% (as of 12/31/2012)
Asset Allocation Stocks 66.15%
Convertibles 0.36%
Fixed Income 29.80%
Cash 3.69%
Top Holdings Danaher
Thermo Fisher Scientific
United Technologies
Marsh & McLennan
UnitedHealth Group
TD Ameritrade Holding
State Street
Major Sectors Reserves & Others 32.94%
Financials 12.18%
Health Care 11.89%
Industrials 10.43%
Information Technology 8.36%
Consumer Discretionary 7.85%
Consumer Staples 7.08%
Utilities 5.49%
Energy 2.02%
Telecommunication Services 1.76%
Materials 0.00%

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Investors should consider the investment objectives, risks, charges, and expenses of a variable insurance product carefully before investing. Please carefully read the prospectuses for the relevant variable insurance product and its underlying investment options, which contain this and other information about the product.

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