Thrivent Limited Maturity Bond Portfolio

Portfolio Fact Sheet (PDF, 135K) | Prospectus & Reports

Performance
Description

Portfolio Management

Michael G. Landreville, CFA, CPA

Managing Portfolio since 2001
Began investment industry experience: 1984

Michael G. Landreville, CFA, CPA

Mike Landreville, chartered financial analyst (CFA), is Portfolio Manager of the Thrivent Core Bond Fund, Thrivent Bond Index Portfolio, Thrivent Limited Maturity Bond Fund, Thrivent Limited Maturity Bond Portfolio, Thrivent Government Bond Fund, Thrivent Balanced Fund and Thrivent Balanced Portfolio. Landreville began his career with the public accounting firm of Price Waterhouse, and later worked as an internal auditor with Soo Line Railroad in Minneapolis. He began his employment with the organization in 1983 as a securities analyst, before becoming an associate portfolio manager in 1998. He earned both his bachelor's degree in business administration and his MBA from the University of Minnesota. Landreville is also a certified public accountant (CPA--nonpracticing).

Gregory Anderson, CFA, CPA

Managing Portfolio since 2005
Began investment industry experience: 1993

Gregory Anderson, CFA, CPA

Gregory Anderson, chartered financial analyst (CFA), is co-manager of the Thrivent Mortgage Securities Portfolio in the variable product portfolio and is co-manager of the Thrivent Core Bond Fund, Thrivent Limited Maturity Bond Fund, Thrivent Limited Maturity Bond Portfolio, and Thrivent Balanced Fund. He is also portfolio manager of Thrivent Financial's general account mortgage-backed securities (MBS) portfolio. Anderson joined the organization in 1997 as an investment analyst. He has held a variety of positions, including corporate bond investment analyst and securitized assets portfolio manager. He earned an MBA from University of Wisconsin-Madison in 1993 and is also a certified public accountant (CPA).

Investment Management Style

Maturity: Short-term

Investment Objective

Seeks a high level of current income consistent with stability of principal.

Investment Strategy

This Portfolio invests primarily in bonds rated in at least the "Baa" category (as defined by Moody's).
It focuses on investment-grade corporate bonds, government, municipal, asset-backed, and mortgage-backed securities.
May make small tactical shifts into higher-quality, higher-yielding fixed-income securities.

Benefits of Investing in the Thrivent Limited Maturity Bond Portfolio

This is a well-diversified Portfolio and generally seeks exposure to all the main components of the fixed-income market.
The ability to invest in high-yield securities provides additional diversification that can help reduce overall portfolio volatility.

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.
The risks incurred by mortgage securities include, but are not limited to, reinvestment of prepaid loans at lower rates of return. The real estate industry and, therefore, the performance of the portfolio, is highly sensitive to economic conditions. In addition, the value of mortgage securities may fluctuate in response to changes in interest rates and is not necessarily guaranteed by the U.S. government.
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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201100826

Michael G. Landreville, CFA, CPA

Mike Landreville, chartered financial analyst (CFA), is co-manager of the Thrivent Income Fund, Thrivent Income Portfolio, Thrivent Limited Maturity Bond Fund and Thrivent Core Bond Fund. Landreville began his career with the public accounting firm of Price Waterhouse, and later worked as an internal auditor with Soo Line Railroad in Minneapolis. He began his employment with Thrivent Financial for Lutherans in 1983 as a securities analyst, before becoming an associate portfolio manager. He was appointed portfolio manager of the LB Income Fund in 1998, and assumed the additional responsibility of managing the LB Limited Maturity Bond Fund in 1999. Landreville began managing the AAL Bond Fund in May of 2002. He earned both his bachelor's degree in business administration and his MBA, from the University of Minnesota. Landreville is also a certified public accountant (CPA).

Gregory Anderson, CFA, CPA

Gregory Anderson, chartered financial analyst (CFA), is co-manager of the Thrivent Mortgage Securities Portfolio in the variable product portfolio and is co-manager of the Thrivent Income Fund, Thrivent Core Bond Fund, and Thrivent Limited Maturity Bond Fund. He is also portfolio manager of Thrivent Financial's general account MBS portfolio. Anderson joined the organization in 1997 as an investment analyst. He has held a variety of positions, including corporate bond investment analyst and securitized assets portfolio manager. He earned an MBA from University of Wisconsin-Madison in 1993 and is also a certified public accountant (CPA).

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.