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MFS® Strategic Income Portfolio

       
   
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CUSIP:  55274F596  
Daily NAV:  $10.30  (as of 4/17/14)
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Portfolio Profile

Flexibly invests across global bond markets

Management seeks to drive performance by making investments across a wide range of fixed-income categories, including high-grade and high-yield corporate bonds, international, emerging markets, U.S. Treasury, mortgage-backed, agency-backed, and asset-backed securities.

Objective:

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

 

  • Classification: Bond
  • Class Inception: 5/6/98  
  • Start of Investment Operations: 5/6/98  
  • CUSIP:  55274F596  

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 3/31/14)
High Grade Corporates 49.31%
High Yield Corporates 32.78%
Non-U.S. Sovereigns 9.96%
Cash & Other1 9.74%
Emerging Markets Debt 3.71%
U.S. Govt Agencies 0.96%
Commercial Mtg Backed 0.72%
Bank Loans 0.69%
Mortgage Backed 0.61%
Asset Backed 0.46%
Municipals 0.37%
U.S. Equities 0.15%
U.S. Convertibles 0.06%
Collateralized Debt Obligations 0.05%
U.S. Treasuries* -9.56%
Portfolio Statistics
(on 3/31/14)
What's this?
Average Effective Maturity 7.03 yrs
Average Effective Duration 4.47 yrs
 
Top 10 Holdings
(on 3/31/14)  
What's this?
Full & Historical Holdings
Italy Buoni Poliennali Del Tesoro 5.25 AUG 01 17
Dow Chemical Co 8.550 MAY 15 19
Spain Government Bond 4.600 JUL 30 19
Italy Buoni Poliennali Del Tesoro 3.750 MAR 01 21
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands 3.95 NOV 09 22
Japan Government Ten Year Bond 1.100 JUN 20 20
CIT Group Inc 3.875 FEB 19 19
BPCE SA 144A 12.500 SEP 30 59
EDF SA 144A 6.500 JAN 26 19
UST Bond 10Yr Future Jun 19 14*

6.28% long and 9.03% short (*) positions of total net assets
Total number of holdings: 695

33.53% of the total net assets are invested in the MFS High Yield Pooled Portfolio

Credit Quality
(% of Total Net Assets on 3/31/14)
What's this?
Federal Agencies 1.57%
AAA 2.50%
AA 3.86%
A 17.84%
BBB 37.70%
BB 14.22%
B 16.09%
CCC and Below 5.34%
Other Not Rated* -9.05%
 
 

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 Cash and other assets are less liabilities; this may include derivative offsets.

 

*Short positions, unlike long positions, lose value if the underlying asset gains value.

 
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, 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 foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, or other conditions.

 
Investments in derivatives can be used to take both long and short positions, be highly volatile, result in 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 small-cap companies can be more volatile than investments in larger companies.

 
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.