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MFS® Government Securities Portfolio

       
   
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CUSIP:  55274F489  
Daily NAV:  $13.00  (as of 7/2/15)
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Portfolio Profile

Invests in a range of U.S. government and agency securities

Management seeks to drive performance through sector rotation among various government securities, including: U.S. Treasuries, Ginnie Maes, Freddie Macs, Fannie Maes, and other U.S. agencies and instrumentalities.

Objective:

Seeks total return with an emphasis on current income, but also considering capital appreciation.

 

  • Classification: Bond
  • Class Inception: 6/12/85  
  • Start of Investment Operations: 6/12/85  
  • CUSIP:  55274F489  

Portfolio Facts:

 
Portfolio characteristic data are based on unaudited net assets.

 
The portfolio is actively managed, and current holdings may be different.

 
Portfolio Structure
(on 5/31/15)
Mortgage Backed 51.47%
U.S. Treasuries 27.30%
U.S. Govt Agencies 8.40%
Cash & Other1 7.16%
Commercial Mtg Backed 3.47%
Municipals 1.26%
Investment Grade Corporates 0.61%
Non-U.S. Sovereigns 0.18%
Emerging Markets Debt 0.15%
Portfolio Statistics
(on 5/31/15)
What's this?
Average Effective Maturity 6.61 yrs
Average Effective Duration 4.65 yrs
 
Top 10 Holdings
(on 5/31/15)  
What's this?
Full & Historical Holdings
FNMA 30YR 4.0
FNMA 30YR 4.5
US Treasury Bond 4.5% AUG 15 39
US Treasury Note 1% JUN 30 19
FHLMC GOLD 30YR 3.5
US Treasury Note 1.75% MAY 15 22
US Treasury Note 0.875% DEC 31 16
GNMA (II) 30YR 3.5
FNMA 30YR 5.5
US Treasury Note 2.625% APR 30 18

36.19% of total net assets
Total number of holdings: 177
Credit Quality
(% of Total Net Assets on 5/31/15)
What's this?
U.S. Government 27.30%
Federal Agencies 59.87%
AAA 1.59%
AA 2.14%
A 0.38%
BBB 0.71%
BB 0.27%
B 0.57%
 
 

Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.

 

1 The assets included in "Other" carry risks including market, credit, counterparty, currency and liquidity risks. The inclusion of these assets may understate or overstate the portfolio's actual cash position.

 
 
Important Risk Considerations

 
The portfolio may not achieve its objective and/or you could lose money on your investment in the portfolio.

 
Investments in debt instruments may decline in value as the result of declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall), therefore the Fund's share price may decline during rising rate environments as the underlying debt instruments in the portfolio adjust to the rise in rates. Funds that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price.

 
Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.

 
Investments in lower-quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.

 
Mortgage-backed securities can be subject to prepayment and/or extension and therefore can offer less potential for gains and greater potential for loss.

 
Please see the prospectus for further information on these and other risk considerations.

 
Before purchasing any variable product, consider the objectives, risks, charges, and expenses associated with the underlying investment option(s) and those of the product itself. For a prospectus, or summary prospectus if available, containing this and other information, contact your investment or insurance professional. Read the prospectus carefully before investing.