Sierra's Tax-Deferred Investment Program
Sierra's Tax-Deferred Investment Program, currently using the American Skandia no-load Variable Annuity, diversifies selectively among the available (sub-accounts) for each client -- for portfolios from $70,000. From time to time, Sierra's Managing Directors make changes, upgrading to a new Designated Fund in the same Asset Class, or revising the Asset Allocation mix among Asset Classes.
The following are the Designated Funds recently held in our Tax-Deferred Investment Program at American Skandia:
| Designated Fund | Asset Class | Percentage |
| Federated High Yield | High yield corporate bonds | 25% |
| Lord Abbett Bond-Debenture | total | |
| T.Rowe Price Global Bond | Other bond funds | 11% |
| T.Rowe Price Natural Resources | Natural resource funds | 5% |
| Cohen & Steers Realty | U.S. and foreign stocks | 59% |
| Gartmore VIT Developing Markets | total | |
| Neuberger-Berman Mid-Cap Value | ||
| ProFund VP Asia 30 | ||
| ProFund VP Europe | ||
| ProFund VP Real Estate | ||
| ProFund VP Small-Cap Value | ||
| William Blair International Growth |
Notes: Every day, Sierra monitors the price trend for each Designated Fund and implements Defensive Timing: When the Designated Fund turns down more than a normal fluctuation (which occurs on average about twice a year), Sierra moves the relevant assets temporarily into the safety of money market; and when the Designated Fund turns back up significantly, Sierra moves the relevant assets back into the Designated Fund.
Although this program is designed to have limited downside risk, some risks remain. Please review carefully the Limitations and Cautions in your Investment Advisory Agreement.
SIERRA
INVESTMENT MANAGEMENT, INC.
3420 OCEAN PARK
BOULEVARD, SUITE 3060
SANTA MONICA, CA 90405
310/452-1887 800/729-1467 FAX 310/452-2680
Click here to write to us: Info@SierraInvestment.com