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Discovery Mid Cap Growth Fund/VA

Overview

The Strategy typically invests in mid-cap U.S. growth stocks.

Inception Date
August 15, 1986
Investment Style
Mid Cap Growth
Fund Index
Russell Midcap® Growth Index
CUSIP
683811509
NAV
  • A
(as of 04/23/2018)
$87.55
Total Assets
(as of 03/31/2018)
$729.12 MM
Gross Expense Ratio
(as of 03/29/2018)
0.84%
Net Expense Ratio
(as of 03/29/2018)
0.80%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 03/31/2018
  • B
as of 03/31/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Discovery Mid Cap Growth Fund/VA (NAV)
2.39% 21.48% 9.97% 13.69% 9.26% 9.54%
Russell Midcap® Growth Index
2.17% 19.74% 9.17% 13.39% 11.18% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Discovery Mid Cap Growth Fund/VA (with sales charge)
2.39% 21.48% 9.97% 13.69% 9.26% 9.54%
Russell Midcap® Growth Index
2.17% 19.74% 9.17% 13.39% 11.18% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Discovery Mid Cap Growth Fund/VA (NAV)
2.39% 21.48% 9.97% 13.69% 9.26% 9.54%
Russell Midcap® Growth Index
2.17% 19.74% 9.17% 13.39% 11.18% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Discovery Mid Cap Growth Fund/VA (with sales charge)
2.39% 21.48% 9.97% 13.69% 9.26% 9.54%
Russell Midcap® Growth Index
2.17% 19.74% 9.17% 13.39% 11.18% -
Gross Expense Ratio: 0.84% | Net Expense Ratio: 0.80%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.


Year Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index
1987 14.34% -
1988 13.41% -
1989 27.57% -
1990 -16.82% -
1991 54.72% -
1992 15.42% 5.79%
1993 27.32% 12.14%
1994 -7.59% -1.28%
1995 32.52% 33.54%
1996 20.22% 15.07%
1997 11.67% 14.76%
1998 12.36% 3.10%
1999 83.60% 55.48%
2000 -11.24% -16.09%
2001 -31.27% -10.83%
2002 -27.79% -29.09%
2003 25.59% 46.31%
2004 19.78% 14.59%
2005 12.33% 8.17%
2006 2.96% 12.26%
2007 6.33% 9.69%
2008 -49.07% -41.50%
2009 32.61% 41.66%
2010 27.46% 28.86%
2011 1.09% -1.57%
2012 16.45% 16.13%
2013 35.98% 37.06%
2014 5.78% 11.90%
2015 6.61% -0.20%
2016 2.34% 7.33%
2017 28.79% 25.27%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.


Date Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index (Linked Index) MSCI World S&P 500
3/31/2008 0.00 0.00 0.00 0.00
4/30/2008 7.67 6.03 5.26 4.87
5/31/2008 12.42 11.61 6.86 6.23
6/30/2008 4.42 3.62 -1.66 -2.73
7/31/2008 -0.26 3.25 -4.06 -3.54
8/31/2008 2.37 4.99 -5.41 -2.15
9/30/2008 -12.89 -8.91 -16.66 -10.87
10/31/2008 -33.94 -29.42 -32.46 -25.84
11/30/2008 -42.98 -37.38 -36.83 -31.16
12/31/2008 -41.14 -34.21 -34.81 -30.43
1/31/2009 -43.15 -38.17 -40.52 -36.29
2/28/2009 -47.62 -43.52 -46.61 -43.07
3/31/2009 -43.19 -38.14 -42.58 -38.09
4/30/2009 -39.18 -28.94 -36.14 -32.16
5/31/2009 -37.44 -26.38 -30.35 -28.37
6/30/2009 -36.67 -24.66 -30.67 -28.23
7/31/2009 -33.00 -18.80 -24.80 -22.80
8/31/2009 -31.78 -17.15 -21.69 -20.01
9/30/2009 -27.14 -11.72 -18.57 -17.03
10/31/2009 -29.58 -16.57 -20.02 -18.57
11/30/2009 -26.72 -13.48 -16.75 -13.68
12/31/2009 -21.95 -6.80 -15.26 -12.01
1/31/2010 -26.37 -10.64 -18.76 -15.18
2/28/2010 -22.36 -6.09 -17.62 -12.55
3/31/2010 -17.44 1.41 -12.51 -7.28
4/30/2010 -14.83 4.96 -12.50 -5.81
5/31/2010 -20.86 -2.17 -20.88 -13.33
6/30/2010 -25.71 -8.50 -23.60 -17.87
7/31/2010 -20.94 -2.39 -17.40 -12.12
8/31/2010 -23.47 -8.58 -20.48 -16.08
9/30/2010 -14.28 3.53 -13.07 -8.59
10/31/2010 -10.28 7.42 -9.83 -5.12
11/30/2010 -5.21 11.75 -11.78 -5.10
12/31/2010 -0.51 20.09 -5.29 1.24
1/31/2011 1.41 21.45 -3.15 3.64
2/28/2011 7.69 28.11 0.24 7.19
3/31/2011 12.16 31.91 -0.75 7.23
4/30/2011 15.43 36.51 3.47 10.41
5/31/2011 13.23 34.83 1.32 9.16
6/30/2011 14.08 32.41 -0.28 7.34
7/31/2011 10.77 27.27 -2.09 5.16
8/31/2011 1.97 16.85 -8.99 -0.56
9/30/2011 -6.90 4.14 -16.85 -7.55
10/31/2011 3.91 20.22 -8.25 2.56
11/30/2011 3.61 19.65 -10.49 2.33
12/31/2011 0.58 18.21 -10.54 3.38
1/31/2012 6.78 27.32 -6.05 8.01
2/29/2012 13.64 33.17 -1.46 12.68
3/31/2012 17.14 35.47 -0.19 16.39
4/30/2012 19.15 34.31 -1.33 15.66
5/31/2012 11.24 24.19 -9.84 8.71
6/30/2012 14.43 28.19 -5.25 13.19
7/31/2012 12.87 26.91 -4.03 14.76
8/31/2012 17.40 31.81 -1.60 17.34
9/30/2012 19.66 34.88 1.11 20.37
10/31/2012 15.26 32.34 0.42 18.15
11/30/2012 16.29 34.66 1.71 18.84
12/31/2012 17.12 37.27 3.62 19.92
1/31/2013 23.74 46.70 8.90 26.13
2/28/2013 24.02 47.61 9.08 27.84
3/31/2013 27.61 54.02 11.63 32.64
4/30/2013 27.74 54.56 15.15 35.19
5/31/2013 30.43 60.91 15.19 38.36
6/30/2013 29.81 58.99 12.35 36.50
7/31/2013 38.61 68.88 18.27 43.44
8/31/2013 39.47 65.66 15.75 39.29
9/30/2013 48.17 73.84 21.54 43.66
10/31/2013 53.62 78.40 26.30 50.26
11/30/2013 54.97 82.34 28.54 54.84
12/31/2013 59.26 88.15 31.26 58.76
1/31/2014 59.05 84.06 26.40 53.27
2/28/2014 70.44 95.62 32.73 60.28
3/31/2014 60.40 91.99 32.92 61.63
4/30/2014 49.35 89.17 34.28 62.82
5/31/2014 52.47 94.31 36.93 66.65
6/30/2014 60.40 100.39 39.37 70.09
7/31/2014 55.57 94.40 37.15 67.74
8/31/2014 63.94 104.87 40.17 74.45
9/30/2014 60.10 98.93 36.37 72.01
10/31/2014 64.16 104.42 37.25 76.21
11/30/2014 68.63 111.14 40.00 80.95
12/31/2014 68.48 110.54 37.74 80.49
1/31/2015 67.30 106.99 35.25 75.07
2/28/2015 79.78 121.24 43.17 85.14
3/31/2015 82.22 121.86 40.93 82.21
4/30/2015 78.97 120.31 44.24 83.96
5/31/2015 84.38 122.92 44.73 86.32
6/30/2015 84.98 119.33 41.37 82.71
7/31/2015 89.68 122.89 43.90 86.54
8/31/2015 79.28 109.92 34.38 75.29
9/30/2015 72.45 101.81 29.43 70.95
10/31/2015 80.80 114.51 39.68 85.37
11/30/2015 82.18 114.98 38.99 85.92
12/31/2015 79.60 110.12 36.54 82.99
1/31/2016 66.87 94.21 28.37 73.91
2/29/2016 63.55 97.26 27.42 73.67
3/31/2016 73.39 111.34 36.07 85.46
4/30/2016 74.93 111.21 38.22 86.18
5/31/2016 80.75 114.67 39.00 89.52
6/30/2016 82.53 114.64 37.44 90.01
7/31/2016 90.40 125.27 43.24 97.02
8/31/2016 90.02 124.61 43.36 97.29
9/30/2016 89.08 124.50 44.13 97.33
10/31/2016 81.19 115.38 41.34 93.73
11/30/2016 86.25 124.74 43.37 100.90
12/31/2016 83.80 125.52 46.80 104.88
1/31/2017 92.40 133.04 50.34 108.76
2/28/2017 98.32 139.74 54.51 117.05
3/31/2017 99.51 141.07 56.16 117.30
4/30/2017 103.35 144.64 58.47 119.54
5/31/2017 111.85 150.49 61.82 122.63
6/30/2017 110.60 151.23 62.45 124.01
7/31/2017 114.17 155.43 66.33 128.62
8/31/2017 117.43 157.23 66.57 129.32
9/30/2017 121.70 164.50 70.31 134.05
10/31/2017 132.36 171.90 73.52 139.51
11/30/2017 137.53 180.99 77.28 146.86
12/31/2017 136.71 182.50 79.68 149.60
1/31/2018 151.42 198.49 89.17 163.89
2/28/2018 142.48 189.12 81.33 154.17
3/29/2018 142.36

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.

$ per share as of 04/24/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term 7.4459 5.9180 8.3865
Total Amount of Distribution 7.4459 5.9180 8.3865
Record Date 6/15/15 6/20/16 6/19/17
Ex Div Date 6/16/15 6/21/16 6/20/17
Pay Date 6/16/15 6/21/16 6/20/17

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(31.3% of assets as of 03/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 5
Country Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index Overweight / Underweight
United States 95.3% 99.5% -4.2%
Canada 1.5% - -
Developed Markets Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index Overweight / Underweight
Americas 96.9% 99.5% -2.6%
Equity Sector Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index Overweight / Underweight
Information Technology 26.7% 29.2% -2.5%
Industrials 21.8% 17.6% 4.2%
Health Care 14.2% 13.3% 0.9%
Consumer Discretionary 13.6% 16.7% -3.1%
Financials 10.2% 7.5% 2.7%
Materials 5.2% 5.8% -0.6%
Energy 2.1% 2.3% -0.3%
Consumer Staples 2.0% 4.2% -2.2%
Real Estate 1.1% 3.1% -2.0%
Industry Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index Overweight / Underweight
Software 10.2% 7.9% 2.3%
Health Care Equipment & Supplies 6.6% 4.3% 2.3%
IT Services 6.3% 8.8% -2.6%
Capital Markets 5.4% 4.5% 0.9%
Semiconductors & Semiconductor Equipment 4.6% 6.3% -1.7%
Hotels Restaurants & Leisure 4.2% 3.7% 0.5%
Commercial Services & Supplies 4.1% 1.2% 2.8%
Machinery 3.8% 4.5% -0.6%
Life Sciences Tools & Services 3.7% 3.0% 0.7%
Electronic Equipment Instruments & Components 3.2% 2.7% 0.5%
Banks 2.8% 1.1% 1.8%
Professional Services 2.6% 2.3% 0.3%
Internet Software & Services 2.4% 1.3% 1.0%
Containers & Packaging 2.3% 2.3% 0.1%
Building Products 2.1% 1.4% 0.8%
Textiles Apparel & Luxury Goods 2.1% 1.5% 0.6%
Oil Gas & Consumable Fuels 2.1% 2.3% -0.3%
Aerospace & Defense 2.0% 2.1% -0.1%
Air Freight & Logistics 2.0% 0.9% 1.1%
Insurance 1.9% 1.7% 0.2%
Asset Allocation Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index Overweight / Underweight
Equity 96.9% 100.0% -3.1%
Market Cap Discovery Mid Cap Growth Fund/VA Russell Midcap® Growth Index Overweight / Underweight
Mid 66.7% 56.4% 10.3%
Large 30.1% 42.3% -12.1%
Analytics
(As of 03/31/2018)

Morningstar 03/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
86
Category
Mid-Cap Growth
Performance Statistics
3Y
5Y
Alpha
1.36
0.60
Beta
0.93
0.98
Information Ratio
0.19
0.06
R-Squared
86.04
81.96
Sharpe Ratio
0.87
1.11
Standard Deviation
11.02
11.89
Sortino Ratio
0.41
0.56
Win Ratio
61.00
58.00
Loss Ratio
39.00
42.00
Tracking Error
4.18
5.05
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
6/20/2017
Per Share ($)
$0.0255
12-Month Distribution ($)
$0.0255
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$15.70 B
$16.20 B
Median Market Cap (weighted)
$12.90 B
$14.20 B
P/E Ratio (LTM)
31.26
27.73
P/E Ratio (NTM)
22.09
19.84
Price/Book
5.04
5.82
Return on Equity
20.00%
18.86%
EPS Growth Rate 3Y
35.19%
18.98%
EPS Growth Rate 5Y
35.19%
-
Sales Growth Rate 3Y
13.62%
11.83%
Sales Growth Rate 5Y
13.62%
-
Turnover Ratio
105.00%
-
Distribution Sources
  • D
Net Income
0.00%
Net Profit from Sale
50.50%
Other Capital Sources
49.50%
Documents
  1. 1. Special Risks: Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Investments in securities of growth companies may be volatile. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Diversification does not guarantee profit or protect against loss.
  2. 2. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  3. 3. Access index definitions.
  4. 4. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
  5. 5. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
  6. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  7. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.
  8. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  9. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  10. The funds invest in below-investment-grade debt securities, which may entail greater credit risks, as described in each fund’s prospectus. These securities (sometimes called “junk bonds”) may be subject to greater price fluctuations and risks of loss of income and principal than investment-grade municipal securities. The funds may invest substantially in municipal securities within a single state or related to similar type projects, which can increase volatility and exposure to regional issues. The funds may also invest substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Deterioration of the Puerto Rican economy could have an adverse impact on Puerto Rican bonds and the performance of the Rochester municipal funds that hold them.The views represented herein are the opinions of the Portfolio Managers at Macquarie Capital Investment Management LLC and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the date indicated, and are subject to change based on subsequent developments.Funds returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Funds. The alternate weighting approach employed by the Funds (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Funds are rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performanceOn April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.On April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.

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