Thrivent Income Portfolio

Portfolio Fact Sheet (PDF, 140K) | Prospectus & Reports

Performance
Description

Portfolio Management

Stephen D. Lowe, CFA

Managing Portfolio since 2009
Began investment industry experience: 1988

Steven D. Lowe, CFA

Steve Lowe, chartered financial analyst (CFA), worked at Dain Bosworth prior to joining Thrivent Financial in 1997. At Thrivent Financial, he's worked as an investment research analyst and research manager, and in 2002, became portfolio manager of the high yield portion of Thrivent's general account. Steve has an MBA in finance from the University of Minnesota.

Investment Management Style

Maturity: Intermediate-term

Investment Objective

Seeks to achieve a high level of income over the longer term, while providing reasonable safety of capital.

Investment Strategy

This Portfolio invests primarily in investment-grade corporate bonds, government bonds, asset-backed securities and mortgage-backed securities or preferred stock. The majority of the Portfolio is generally invested in debt securities or preferred stock rated at least "Baa" by Moody's. It makes tactical shifts into higher-quality, high-yield bonds to provide added diversification.

Benefits of Investing in the Thrivent Income Portfolio

This Portfolio is well-diversified, with exposure to all the main components of the fixed-income market.
It focuses on bonds with longer maturities and lower credit ratings that can lead to greater return opportunities, and greater diversification of an overall portfolio.
Extensive in-house credit research and quantitative analysis seek to achieve effective application of risk controls and prudent sector-allocation management.

Special Investment Risks

The Portfolio is subject to interest rate risk, credit risk related to a company's underlying financial position which may result in overall price fluctuations over short or even extended time periods.
These and other risks are described in the prospectus.

Investment Minimums

All initial and subsequent investment minimums exist at the contract level. Most subaccounts carry no investment minimums.
However, a minimum of $1,000 is required if you choose to use the DCA (Dollar Cost Averaging) Fixed Account to fund periodic investments to other subaccounts. See the prospectus for additional information.

Investing in a variable annuity contract involves risk, including the possible loss of principal. More complete information on the investment objectives, risks, charges and expenses of the variable annuity contract and underlying investment options is included in the prospectuses, which investors should read and consider carefully before investing. Prospectuses are available online or from a Thrivent Financial representative.

For additional information, contact the Investment Interaction Center at 800-847-4836.

This variable annuity contract is issued by Thrivent Financial for Lutherans and distributed by Thrivent Investment Management, Inc.


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Investment Management Style Chart Guide

Along with the description of the investment objective included for each of the investment options, the style box contains additional information to help you choose the options that best meet your financial goals, long-term investment objectives and risk tolerances. The style box helps you to understand how the portfolio assets are invested to seek the stated investment objective. Thrivent Investment Management Inc. has determined the placements within each style box.

Fixed Income Category

The style box for the investment options in the fixed-income category displays two variables. The first variable is the average credit rating* or quality of the holdings in the portfolio.

H=High-quality:Average credit rating of AA of AAA.
M=Medium-quality:Average credit rating of BBB to A.
L=Low-quality:Average credit rating of BB or lower.

The portfolio's average time until maturity, also known as its duration, is the second style box variable.

S=Short-term:Average maturity of less than 3.5 years.
I=Intermediate-term:Average maturity between 3.5 and 6 years.
L=Long-term:Average maturity greater than 6 years.

When taken together, these style boxes offer a broad view of a portfolio's holdings and risk, which may be helpful in deciding which one is right for you. While they illustrate the principal investment style of each portfolio, the portfolio still may invest, to a limited extent, in other types of securities.

*The average credit rating, as set forth by Standard & Poor's, pertains to the type of securities a portfolio may purchase and not to the portfolio themselves.