• General Classification Definitions
• Investment Objective Definitions

General Classification Definitions

Advisor (Overseas Funds Only) - An entity that assists in the operation of the fund by providing the following services:

• providing investment advice, research, and administrative services
• maintaining fund compliance in areas of asset diversification, prospectus restrictions, and tax code requirements
• reporting and confirmation of trade information to all relative parties
• overseeing cash management of the fund, brokerage allocations, and fee arrangements (soft $’s)

Asset Type (Overseas Funds Only) - The principal focus of a fund’s investments. LANA tracks the following asset types:

Contract Type - A particular "Policy" within a Variable Insurance Product’s separate account. LANA classifies Variable Insurance Products as a group contract, individual contract, or both.

• Group Contract - A policy which is sold only to institutional clients (for example, pension plans, 401(k) plans, etc.)
• Individual Contract - A policy that is sold only to individual investors.

Currency of Record (Overseas Funds Only) - The currency used by the fund in its financial statements. LANA tracks the following currencies:

Distribution Channel- Primary - The sales channel through which a fund is primarily sold. See below for a complete listing of Distribution Channels with accompanying definitions.

• Affinity with an Organization – AFFNTY - Funds which are sold primarily to individuals who have a relationship with a membership organization.
• Bank Institutional – BNKINSTL - Funds primarily offered to clients, agencies and fiduciaries of bank trust departments, commercial banks, thrifts, trust companies, or similar institutions. The bank acts as advisor and, in some cases, sub-advisor for the funds.
• Bank Retail – BNKRETL - Funds primarily offered to bank customers, or to customers of correspondent banks, on a retail level. The bank acts as advisor and, in some cases, sub-advisor for the funds.
• Broker/Dealer Non-NYSE Members– BRKRDLR - Funds that are affiliated with regional brokerage firms.
• Captive Sales Force – CAPTIVE - Funds that are marketed by their own captive sales force. The captive sales force is solely focused on selling proprietary products.
• Dealer - DEALER - Wholesale fund firms whose sales are made through intermediaries such as brokers. Those fund groups with assets over $3 billion are considered primary.
• Direct - DIRECT - No-load funds that are marketed directly to the consumer.
• Employee Funds – EMPLOY – Funds that are sold primarily to employees or retirees of a particular organization.
• Institutional – INSTL – Funds primarily targeted at organizations and institutions. Some examples include pension funds, 401k plans, profit sharing plans and endowments. Typically, these funds have a high minimum initial investment and a lower overall expense ratio.
• Insurance – INSURNC - Funds whose advisor is affiliated with an insurance company and which are sold primarily through the insurance company's agents.
• National Full Line - NATLFLL - fund groups that are NYSE member firms who have their own proprietary funds.

The following Distribution Channels apply only to Variable Insurance Products.

• V Broker/Dealer - Variable Insurance Products that are distributed through a third party broker/dealer who is unrelated to the issuing insurance company.
• V Career/General Agent - Variable Insurance Products that are distributed by a life insurance agent licensed to sell insurance products. The Career Agent sells insurance products for only one insurance company while the General Agent sells insurance products from several vendors.
• V Direct Marketing - Variable Insurance Products that are distributed directly to the consumer by the issuing insurance company.

Domicile (Overseas Funds Only) - The country within which a fund is based. See Geographical Focus for the list of countries.

Fixed Account Type - A Variable Insurance Product categorization which classifies fixed account funds (funds with a guaranteed account option) based on whether the funds are market value adjusted or not. A fund is market value adjusted if, when an individual withdraws funds prior to the commitment date, the market value is adjusted for this withdrawal.

Geographic Focus (Overseas Funds Only) - The geographic concentration of the majority of a fund’s investments. LANA tracks the following geographic areas:

Insurance Policy Type - A Variable Insurance Products categorization that classifies funds by insurance type. The insurance types include underlying fund, variable annuity, variable life, or variable universal life.

• Underlying Fund - The mutual fund in which a sub-account invests and which provides the investment income for one or more sub-accounts. One Variable Insurance Product may use several different fund families as investment vehicles. Expenses associated with the underlying fund are similar in nature to those of an open-end mutual fund.
• Variable Annuity - An investment vehicle that offers investors the ability to accumulate tax-deferred assets which will supply a stream of income during retirement.
• Variable Life - A whole life policy (steady payments) that gives the investor multiple investment choices. A Variable Life policy is designed to combine the traditional protection and savings function of life insurance with the growth potential of equities. This type of policy provides only death benefits to the policyholder.
• Variable Universal Life - A life policy that gives the investor multiple investment choices with a flexible payment option. A Variable Universal Life policy is designed to combine the traditional protection and savings function of life insurance with the growth potential of equities. This type of policy provides only death benefits to the policyholder.

Investment Objective - The category a fund is placed in based on its investment objective and policies as set forth in the fund’s prospectus. The Investment Objective Definitions are broken down into three categories:

• US Diversified Equity Funds (see Classification Methodology)
• Equity Funds (Prospectus Investment Objective)
• Fixed Income Funds

US Diversified Large-Cap Equity Funds

Large-Cap Growth Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of greater than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Indexâ . Large-Cap Growth funds normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in a major unmanaged stock index. These funds will normally have an above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified large-cap funds universe average.

Large-Cap Core Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of greater than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Large-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified large-cap funds universe average.

Large-Cap Value Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of greater than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Large-Cap Value funds seek long-term growth of capital by investing in companies that are considered to be undervalued relative to a major unmanaged stock index based on price-to-current earnings, book value, asset value, or other factors. These funds will normally have a below-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified large-cap funds universe average.

U.S. Diversified Multi-Cap Equity Funds

Multi-Cap Growth Funds— Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Multi-Cap Growth funds normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in a major unmanaged stock index. These funds will normally have an above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified multi-cap equity funds universe average.

Multi-Cap Core Funds— Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Multi-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified multi-cap equity funds universe average.

Multi-Cap Value Funds— Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Multi-Cap Value funds seek long-term growth of capital by investing in companies that are considered to be undervalued relative to a major unmanaged stock index based on price-to-current earnings, book value, asset value, or other factors. These funds will normally have a below-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified multi-cap funds universe average.

U.S. Diversified Mid-Cap Equity Funds

Mid-Cap Growth Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Growth funds normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in a major unmanaged stock index. These funds will normally have an above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified mid-cap funds universe average.

Mid-Cap Core Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified mid-cap funds universe average.

Mid-Cap Value Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Value funds seek long-term growth of capital by investing in companies that are considered to be undervalued relative to a major unmanaged stock index based on price-to-current earnings, book value, asset value, or other factors. These funds will normally have a below-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified mid-cap funds universe average.

U.S. Diversified Small-Cap Equity Funds

Small-Cap Growth Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 250% of the dollar-weighted median market capitalization of the S&P Small-Cap 600 Index. Small-Cap Growth funds normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in a major unmanaged stock index. These funds will normally have an above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified small-cap funds universe average.

Small-Cap Core Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 250% of the dollar-weighted median market capitalization of the S&P Small-Cap 600 Index. Small-Cap Core funds have wide latitude in the companies in which they invest. These funds will normally have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified small-cap funds universe average.

Small-Cap Value Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 250% of the dollar-weighted median market capitalization of the S&P Small-Cap 600 Index. Small-Cap Value funds seek long-term growth of capital by investing in companies that are considered to be undervalued relative to a major unmanaged stock index based on price-to-current earnings, book value, asset value, or other factors. These funds will normally have a below-average price-to-earnings ratio, price-to-book ratio, and three-year earnings growth figure, compared to the U.S. diversified small-cap funds universe average.

U.S. Diversified Equity Fund Supergroup Definitions

Large-Cap Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of greater than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Indexâ . These funds have latitude with respect to the valuations (price-to-earnings, price-to-book, and three-year earnings growth) of the securities in their portfolio and may alter their portfolio style over time.

Multi-Cap Funds— Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-Cap funds will generally have between 25% to 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. These funds have latitude with respect to the valuations (price-to-earnings, price-to-book, and three-year earnings growth) of the securities in their portfolio and may alter their portfolio style over time.

Mid-Cap Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index. These funds have latitude with respect to the valuations (price-to-earnings, price-to-book, and three-year earnings growth) of the securities in their portfolio and may alter their portfolio style over time.

Small-Cap Funds—Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 250% of the dollar-weighted median market capitalization of the S&P Small-Cap 600 Index. These funds have latitude with respect to the valuations (price-to-earnings, price-to-book, and three-year earnings growth) of the securities in their portfolio and may alter their portfolio style over time.

Specialized Equity Funds

S&P 500 Index Funds—Funds that are passively managed, have limited expenses (advisor fee no higher than 0.50%), and are designed to replicate the performance of the Standard & Poor’s 500 Index on a reinvested basis.

Equity Income Funds—Funds that, by prospectus and portfolio practice, seek relatively high current income and growth of income through investing 65% or more of their portfolios in dividend-paying equity securities. These funds’ gross yield (or net yield) must be at least 125% of the U.S. diversified equity funds universe gross-yield (or net-yield) average.

Specialty Diversified Equity Funds—Funds that, by portfolio practice, invest in all market capitalization ranges, with no restrictions for any one market capitalization range. These funds generally have distinctly different strategies and performance resulting in a low r-squared value compared to the other U.S. diversified equity fund categories (for example, market short funds).

General Equity Funds

• Capital Appreciation Funds (CA) - A fund that aims at maximum capital appreciation, frequently by means of 100% or more portfolio turnover, leveraging, purchasing unregistered securities, purchasing options, etc. The fund may take large cash positions.
• Equity Income Funds (EI) - A fund that seeks relatively high current income and growth of income through investing 60% or more of its portfolio in equities.
• Growth Funds (G) - A fund that normally invests in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in the major unmanaged stock indices.
• Growth & Income Funds (GI) - A fund that combines a growth-of-earnings orientation and an income requirement for level and/or rising dividends.
• Micro-Cap Funds (MR) - A fund that by prospectus or portfolio practice invests primarily in companies with market capitalizations less than $300 million at the time of purchase.
• Mid-Cap Funds (MC) - A fund that by prospectus or portfolio practice invests primarily in companies with market capitalizations less than $5 billion at the time of purchase.
• Small-Cap Funds (SG) - A fund that by prospectus or portfolio practice invests primarily in companies with market capitalizations less than $1 billion at the time of purchase.
• S&P 500 Index Objective Funds (SP) - A passively managed, limited-expense (management fee no higher than 0.50%) fund designed to replicate the performance of the Standard & Poor's 500 Index on a reinvested basis.

Sector Equity Funds

• Environmental Funds (EN) - A fund that invests at least 65% of its portfolio in equity securities and securities convertible into common stocks of companies that, in the fund's opinion, are engaged in contributing to a cleaner and healthier environment, including but not limited to, waste management, pollution control, and related services.
• Financial Services Funds (FS) - A fund that invests 65% of its portfolio in equity securities of companies engaged in providing financial services, including but not limited to banks, finance companies, insurance companies, and securities/brokerage firms.
• Health/Biotechnology Funds (H) - A fund that invests 65% of its equity portfolio in shares of companies engaged in health care, medicine, and biotechnology.
• Natural Resources Funds (NR) - A fund that invests more than 65% of its equity commitment in natural resource stocks.
• Real Estate Funds (RE) - A fund that invests 65% of its portfolio in equity securities of domestic and foreign companies engaged in the real estate industry.
• Science & Technology Funds (TK) - A fund that invests 65% of its equity portfolio in science and technology stocks.
• Specialty & Miscellaneous Funds (S) - A fund that limits its investments to a specific industry (e.g., transportation, retailing, or paper, etc.) or one that has not been classified into an existing investment objective.
• Utility Funds (UT) - A fund that invests 65% of its equity portfolio in utility shares.
• Telecommunication Funds (TL) - A fund that invests at least 65% of its assets in the equity securities of domestic and foreign companies engaged in the development, manufacture, or sale of telecommunications services or equipment.

World Equity Funds

• Canadian Funds (CN) - A fund that concentrates its investments in equity securities of Canadian companies.
• China Region Funds (CH) - A fund that concentrates its investments in equity securities whose primary trading markets or operations are concentrated in the China Region or in a single country within this region.
• Emerging Markets Funds (EM) - A fund that seeks long-term capital appreciation by investing at least 65% of total assets in emerging market equity securities, where "emerging market" is defined by a country's GNP per capita or other economic measures.
• European Region Funds (EU) - A fund that concentrates its investments in equity securities whose primary trading markets or operations are concentrated in the European region or a single country within this region.
• Global Funds (GL) - A fund that invests at least 25% of its portfolio in securities traded outside of the United States and that may own U.S. securities as well.
• Global Small-Cap Funds (GS) - A fund that invests at least 25% of its portfolio in securities with primary trading markets outside the United States, and that limits at least 65% of its investments to companies with market capitalizations less than US $1 billion at the time of purchase.
• Gold-Oriented Funds (AU) - A fund that has at least 65% of its equity portfolio in shares of gold mines, gold-oriented mining finance houses, gold coins, or bullion.
• International Funds (IF) - A fund that invests its assets in securities with primary trading markets outside of the United States.
• International Small-Cap Funds (IS) - A fund that invests at least 65% of its assets in equity securities of non-United States companies with market capitalization less than US $1 billion at time of purchase.
• Japanese Funds (JA) - A fund that concentrates its investments in equity securities of Japanese companies.
• Latin American Funds (LT) - A fund that concentrates its investments in equity securities with primary trading markets or operations concentrated in the Latin American region or in a single country within this region.
• Pacific ex Japan Funds (XJ) - A fund that concentrates its investments in equity securities with primary trading markets or operations concentrated in the Pacific region (including Asian countries) and that specifically does not invest in Japan.
• Pacific Region Funds (PC) - A fund that concentrates its investments in equity securities with primary trading markets or operations concentrated in the Western Pacific Basin region or a single country within this region.

Mixed Equity Funds

• Balanced Funds (B) - A fund whose primary objective is to conserve principal by maintaining at all times a balanced portfolio of both stocks and bonds. Typically, the stock/bond ratio ranges around 60%/40%.
• Balanced Target Maturity Funds (BT) - A fund that invests to provide a guaranteed return of investment at maturity (targeted periods). A portion of the assets is invested in zero coupon U.S. Treasury securities, while the remainder is in equity securities for long-term growth of capital and income.
• Convertible Securities Funds (CV) - A fund that invests its portfolio primarily in convertible bonds and convertible preferred shares.
• Flexible Portfolio Funds (FX) - A fund that allocates its investments across various asset classes, including domestic common stocks, bonds, and money market instruments with a focus on total return.
• Global Flexible Portfolio Funds (GX) - A fund that allocates its investments across various asset classes, including both domestic and foreign stocks, bonds, and money market instruments with a focus on total return. At least 25% of its portfolio is invested in securities traded outside of the United States, including shares of gold mines, gold-oriented mining finance houses, gold coins, or bullion.
• Income Funds (I) - A fund that normally seeks a high level of current income through investing in income-producing stocks, bonds, and money market instruments.