MONY Variable Account L
Financial Statements
Year Ended December 31, 2023
(With Report of Independent Registered Public Accounting Firm Thereon)
Report of Independent Registered Public Accounting Firm
To the Policy Owners of MONY Variable Account L and the Board of Directors of
MONY Life Insurance Company:
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of the subaccounts listed in Appendix A that comprise MONY Variable Account L (the Separate Account) as of December 31, 2023, the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years or periods in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Separate Account as of December 31, 2023, the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years or periods in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Separate Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of December 31, 2023, by correspondence with the underlying mutual funds or their transfer agents; when replies were not received, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.
/s/ KPMG LLP |
We have served as the auditor of one or more MONY Life Insurance Company Separate Accounts since 2019.
Birmingham, Alabama
April 18, 2024
1
Appendix A
The subaccounts that comprise MONY Variable Account L Separate Account were audited according to varying periods as defined in the table below:
Subaccount | Statement
of Assets and Liabilities |
Statement of Operations | Statements
of Changes in Net Assets |
1290 VT Equity Income Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
1290 VT Equity Income Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
1290 VT GAMCO Small Company Value Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
1290 VT Socially Responsible Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
1290 VT Socially Responsible Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
BNY Mellon Stock Index Fund, Initial Shares | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/AB Small Cap Growth Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Aggressive Allocation Portfolio, Class B | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/All Asset Growth Allocation Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Capital Group Research Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
2
EQ/Conservative Allocation Portfolio, Class B | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Conservative-Plus Allocation Portfolio, Class B | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Core Bond Index Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Core Plus Bond Portfolio, Class A | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Global Equity Managed Volatility Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Intermediate Government Bond Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Janus Enterprise Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/JPMorgan Growth Allocation Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Large Cap Value Index Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Large Cap Value Managed Volatility Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
3
EQ/Loomis Sayles Growth Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/MFS International Growth Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Mid Cap Index Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Moderate Allocation Portfolio, Class B | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Moderate-Plus Allocation Portfolio, Class B | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Money Market Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/PIMCO Ultra Short Bond Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Quality Bond PLUS Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Small Company Index Portfolio, Class IA | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
EQ/Value Equity Portfolio, Class IB | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
4
Fidelity VIP Contrafund Portfolio, Service Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Franklin Income VIP Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Franklin Rising Dividends VIP Fund, Class 2 | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Invesco V.I. Diversified Dividend Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Invesco V.I. Global Core Equity Fund | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Invesco V.I. Global Fund, Series II | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Invesco V.I. Health Care Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Invesco V.I. Technology Fund, Series I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Janus Henderson Balanced Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Janus Henderson Enterprise Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Janus Henderson Forty Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Janus Henderson Forty Fund, Class S | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
5
Janus Henderson Global Research Fund, Class I | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
Janus Henderson Overseas Fund, Class S | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
MFS Utilities Series, Initial Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | As of December 31, 2023 | For the year then ended December 31, 2023 | For each of the years in the two-year period then ended December 31, 2023 |
6
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
1290 VT Equity Income Portfolio, Class IA | 1290 VT Equity Income Portfolio, Class IB | 1290 VT GAMCO Small Company Value Portfolio, Class IB | 1290 VT Socially Responsible Portfolio, Class IA | 1290 VT Socially Responsible Portfolio, Class IB | BNY Mellon Stock Index Fund, Initial Shares | EQ/AB Small Cap Growth Portfolio, Class IA | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 15,465 | $ | 1,479,251 | $ | 10,384,358 | $ | 275,796 | $ | 23,962 | $ | 2,945,059 | $ | 171,365 | ||||||||||||||
Receivable from the Policies | - | - | - | 47 | 55 | 40 | - | |||||||||||||||||||||
Receivable from the fund manager | - | 58 | 5,496 | - | - | - | 2 | |||||||||||||||||||||
Receivable from the Company | - | - | 104,588 | - | - | - | - | |||||||||||||||||||||
Total assets | 15,465 | 1,479,309 | 10,494,442 | 275,843 | 24,017 | 2,945,099 | 171,367 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | - | 58 | 5,496 | - | - | - | 2 | |||||||||||||||||||||
Payable to the fund manager | - | - | - | 47 | 55 | 40 | - | |||||||||||||||||||||
Payable to the Company | 263 | 20,787 | - | 4,020 | 341 | 15,918 | 2,770 | |||||||||||||||||||||
Total liabilities | 263 | 20,845 | 5,496 | 4,067 | 396 | 15,958 | 2,772 | |||||||||||||||||||||
NET ASSETS | $ | 15,202 | $ | 1,458,464 | $ | 10,488,946 | $ | 271,776 | $ | 23,621 | $ | 2,929,141 | $ | 168,595 | ||||||||||||||
Fair value per share (NAV) | $ | 4.80 | $ | 4.85 | $ | 69.97 | $ | 20.08 | $ | 19.63 | $ | 69.08 | $ | 16.68 | ||||||||||||||
Shares outstanding in the Separate Account | 3,220 | 305,061 | 148,422 | 13,736 | 1,220 | 42,633 | 10,273 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 15,701 | $ | 1,544,171 | $ | 7,111,263 | $ | 142,749 | $ | 14,404 | $ | 1,872,573 | $ | 188,620 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. |
(Continued) |
See accompanying notes to financial statements.
7
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Aggressive Allocation Portfolio, Class B | EQ/All Asset Growth Allocation Portfolio, Class IB | EQ/Capital Group Research Portfolio, Class IA | EQ/Conservative Allocation Portfolio, Class B | EQ/Conservative- Plus Allocation Portfolio, Class B | EQ/Core Bond Index Portfolio, Class IA | EQ/Core Plus Bond Portfolio, Class A | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 246,531 | $ | 4,220,108 | $ | 3,426,011 | $ | 24,792 | $ | 570 | $ | 1,327,250 | $ | 204,127 | ||||||||||||||
Receivable from the Policies | - | - | - | - | - | - | - | |||||||||||||||||||||
Receivable from the fund manager | 5 | 107 | 22 | - | - | 148 | 80 | |||||||||||||||||||||
Receivable from the Company | 5,205 | 105,946 | - | - | 6 | - | - | |||||||||||||||||||||
Total assets | 251,741 | 4,326,161 | 3,426,033 | 24,792 | 576 | 1,327,398 | 204,207 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | 5 | 107 | 22 | - | - | 148 | 80 | |||||||||||||||||||||
Payable to the fund manager | - | - | - | - | - | - | - | |||||||||||||||||||||
Payable to the Company | - | - | 45,325 | 421 | - | 13,716 | 3,467 | |||||||||||||||||||||
Total liabilities | 5 | 107 | 45,347 | 421 | - | 13,864 | 3,547 | |||||||||||||||||||||
NET ASSETS | $ | 251,736 | $ | 4,326,054 | $ | 3,380,686 | $ | 24,371 | $ | 576 | $ | 1,313,534 | $ | 200,660 | ||||||||||||||
Fair value per share (NAV) | $ | 9.86 | $ | 17.73 | $ | 29.67 | $ | 8.18 | $ | 8.21 | $ | 9.20 | $ | 3.50 | ||||||||||||||
Shares outstanding in the Separate Account | 24,999 | 238,063 | 115,458 | 3,032 | 69 | 144,198 | 58,312 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 266,562 | $ | 4,480,906 | $ | 2,933,969 | $ | 27,278 | $ | 576 | $ | 1,434,038 | $ | 223,519 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. | |||||||||||||
(Continued) |
See accompanying notes to financial statements.
8
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | EQ/Intermediate Government Bond Portfolio, Class IA | EQ/Janus Enterprise Portfolio, Class IA | EQ/JPMorgan Growth Allocation Portfolio, Class IB | EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | EQ/Large Cap Value Index Portfolio, Class IA | EQ/Large Cap Value Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 89,440 | $ | 579,009 | $ | 1,151,358 | $ | 7,857,533 | $ | 1,660,064 | $ | 2,117,163 | $ | 281,454 | ||||||||||||||
Receivable from the Policies | 3 | - | - | - | - | 137 | 76 | |||||||||||||||||||||
Receivable from the fund manager | - | 160 | 32 | 4,106 | 5,970 | - | - | |||||||||||||||||||||
Receivable from the Company | - | - | - | 211,377 | - | - | - | |||||||||||||||||||||
Total assets | 89,443 | 579,169 | 1,151,390 | 8,073,016 | 1,666,034 | 2,117,300 | 281,530 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | - | 160 | 32 | 4,106 | 5,970 | - | - | |||||||||||||||||||||
Payable to the fund manager | 3 | - | - | - | - | 137 | 76 | |||||||||||||||||||||
Payable to the Company | 1,355 | 6,664 | 19,054 | - | 10,630 | 35,601 | 4,747 | |||||||||||||||||||||
Total liabilities | 1,358 | 6,824 | 19,086 | 4,106 | 16,600 | 35,738 | 4,823 | |||||||||||||||||||||
NET ASSETS | $ | 88,085 | $ | 572,345 | $ | 1,132,304 | $ | 8,068,910 | $ | 1,649,434 | $ | 2,081,562 | $ | 276,707 | ||||||||||||||
Fair value per share (NAV) | $ | 16.13 | $ | 9.50 | $ | 20.44 | $ | 56.15 | $ | 29.25 | $ | 9.98 | $ | 17.79 | ||||||||||||||
Shares outstanding in the Separate Account | 5,545 | 60,924 | 56,315 | 139,935 | 56,760 | 212,114 | 15,825 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 82,793 | $ | 618,278 | $ | 1,031,273 | $ | 5,339,667 | $ | 1,580,803 | $ | 1,705,482 | $ | 242,476 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
9
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | EQ/MFS International Growth Portfolio, Class IB | EQ/Mid Cap Index Portfolio, Class IA | EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | EQ/Moderate Allocation Portfolio, Class B | EQ/Moderate-Plus Allocation Portfolio, Class B | EQ/Money Market Portfolio, Class IA | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 7,487,118 | $ | 1,751,755 | $ | 783,774 | $ | 1,883,942 | $ | 152,853 | $ | 279,878 | $ | 2,160,058 | ||||||||||||||
Receivable from the Policies | - | - | - | 53 | - | - | - | |||||||||||||||||||||
Receivable from the fund manager | 6,428 | 40 | 103 | - | 2 | 4 | 130 | |||||||||||||||||||||
Receivable from the Company | - | 25,560 | - | - | - | - | - | |||||||||||||||||||||
Total assets | 7,493,546 | 1,777,355 | 783,877 | 1,883,995 | 152,855 | 279,882 | 2,160,188 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | 6,428 | 40 | 103 | - | 2 | 4 | 130 | |||||||||||||||||||||
Payable to the fund manager | - | - | - | 53 | - | - | - | |||||||||||||||||||||
Payable to the Company | 104,839 | - | 13,002 | 29,094 | 526 | 1,475 | 117,457 | |||||||||||||||||||||
Total liabilities | 111,267 | 40 | 13,105 | 29,147 | 528 | 1,479 | 117,587 | |||||||||||||||||||||
NET ASSETS | $ | 7,382,279 | $ | 1,777,315 | $ | 770,772 | $ | 1,854,848 | $ | 152,327 | $ | 278,403 | $ | 2,042,601 | ||||||||||||||
Fair value per share (NAV) | $ | 10.32 | $ | 7.30 | $ | 15.57 | $ | 16.25 | $ | 11.82 | $ | 9.33 | $ | 1.00 | ||||||||||||||
Shares outstanding in the Separate Account | 725,801 | 240,093 | 50,327 | 115,969 | 12,927 | 30,005 | 2,158,468 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 5,704,419 | $ | 1,696,856 | $ | 647,431 | $ | 1,574,111 | $ | 173,732 | $ | 314,952 | $ | 2,159,822 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
10
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Morgan
Stanley Small Cap Growth Portfolio, Class IB | EQ/PIMCO
Ultra Short Bond Portfolio, Class IB | EQ/Quality
Bond PLUS Portfolio, Class IB | EQ/Small
Company Index Portfolio, Class IA | EQ/Value
Equity Portfolio, Class IB | Fidelity
VIP Contrafund Portfolio, Service Class | Franklin
Income VIP Fund, Class 2 | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 1,159,424 | $ | 258,656 | $ | 477,062 | $ | 140,213 | $ | 184,741 | $ | 4,438,952 | $ | 1,168,791 | ||||||||||||||
Receivable from the Policies | - | - | 6 | - | - | - | 209 | |||||||||||||||||||||
Receivable from the fund manager | 40 | 90 | - | 1 | 30 | 6,177 | - | |||||||||||||||||||||
Receivable from the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
Total assets | 1,159,464 | 258,746 | 477,068 | 140,214 | 184,771 | 4,445,129 | 1,169,000 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | 40 | 90 | - | 1 | 30 | 6,177 | - | |||||||||||||||||||||
Payable to the fund manager | - | - | 6 | - | - | - | 209 | |||||||||||||||||||||
Payable to the Company | 16,925 | 4,361 | 1,020 | 2,382 | 3,138 | 5,405 | 19,628 | |||||||||||||||||||||
Total liabilities | 16,965 | 4,451 | 1,026 | 2,383 | 3,168 | 11,582 | 19,837 | |||||||||||||||||||||
NET ASSETS | $ | 1,142,499 | $ | 254,295 | $ | 476,042 | $ | 137,831 | $ | 181,603 | $ | 4,433,547 | $ | 1,149,163 | ||||||||||||||
Fair value per share (NAV) | $ | 7.22 | $ | 9.74 | $ | 7.68 | $ | 11.06 | $ | 22.01 | $ | 48.30 | $ | 14.20 | ||||||||||||||
Shares outstanding in the Separate Account | 160,500 | 26,546 | 62,079 | 12,675 | 8,393 | 91,904 | 82,309 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 1,816,091 | $ | 263,033 | $ | 535,919 | $ | 138,426 | $ | 156,771 | $ | 2,930,606 | $ | 1,198,827 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
11
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
Franklin Rising Dividends VIP Fund, Class 2 | Invesco V.I. Diversified Dividend Fund, Series I | Invesco V.I. Global Core Equity Fund | Invesco V.I. Global Fund, Series II | Invesco V.I. Health Care Fund, Series I | Invesco V.I. Technology Fund, Series I | Janus Henderson Balanced Fund, Class I | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 144,397 | $ | 121,782 | $ | 115,067 | $ | 497,590 | $ | 269,494 | $ | 19,326 | $ | 1,003,948 | ||||||||||||||
Receivable from the Policies | - | - | 112 | - | - | - | 4 | |||||||||||||||||||||
Receivable from the fund manager | 3 | 2 | - | 28 | 5 | - | - | |||||||||||||||||||||
Receivable from the Company | - | - | - | - | - | - | - | |||||||||||||||||||||
Total assets | 144,400 | 121,784 | 115,179 | 497,618 | 269,499 | 19,326 | 1,003,952 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | 3 | 2 | - | 28 | 5 | - | - | |||||||||||||||||||||
Payable to the fund manager | - | - | 112 | - | - | - | 4 | |||||||||||||||||||||
Payable to the Company | 2,453 | 1,992 | 1,951 | 8,452 | 4,490 | 297 | 14,358 | |||||||||||||||||||||
Total liabilities | 2,456 | 1,994 | 2,063 | 8,480 | 4,495 | 297 | 14,362 | |||||||||||||||||||||
NET ASSETS | $ | 141,944 | $ | 119,790 | $ | 113,116 | $ | 489,138 | $ | 265,004 | $ | 19,029 | $ | 989,590 | ||||||||||||||
Fair value per share (NAV) | $ | 26.93 | $ | 24.24 | $ | 9.67 | $ | 35.50 | $ | 25.91 | $ | 18.50 | $ | 45.28 | ||||||||||||||
Shares outstanding in the Separate Account | 5,362 | 5,024 | 11,900 | 14,017 | 10,401 | 1,045 | 22,172 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 130,407 | $ | 106,837 | $ | 101,289 | $ | 477,448 | $ | 272,820 | $ | 19,330 | $ | 703,054 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
12
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||
AS OF DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
Janus Henderson Enterprise Fund, Class I | Janus Henderson Forty Fund, Class I | Janus Henderson Forty Fund, Class S | Janus Henderson Global Research Fund, Class I | Janus Henderson Overseas Fund, Class S | MFS Utilities Series, Initial Class | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||||||
Investments at fair value (1) | $ | 2,506,264 | $ | 1,538,347 | $ | 514,960 | $ | 1,960,547 | $ | 407,358 | $ | 268,981 | $ | 214,399 | ||||||||||||||
Receivable from the Policies | - | - | - | - | 3 | - | - | |||||||||||||||||||||
Receivable from the fund manager | 6,618 | 117 | 48 | 4,459 | - | 22 | 90 | |||||||||||||||||||||
Receivable from the Company | - | 30,100 | - | 4,668 | - | - | - | |||||||||||||||||||||
Total assets | 2,512,882 | 1,568,564 | 515,008 | 1,969,674 | 407,361 | 269,003 | 214,489 | |||||||||||||||||||||
LIABILITIES: | ||||||||||||||||||||||||||||
Payable to the Policies | 6,618 | 117 | 48 | 4,459 | - | 22 | 90 | |||||||||||||||||||||
Payable to the fund manager | - | - | - | - | 3 | - | - | |||||||||||||||||||||
Payable to the Company | 16,427 | - | 8,499 | - | 6,600 | 4,482 | 3,558 | |||||||||||||||||||||
Total liabilities | 23,045 | 117 | 8,547 | 4,459 | 6,603 | 4,504 | 3,648 | |||||||||||||||||||||
NET ASSETS | $ | 2,489,837 | $ | 1,568,447 | $ | 506,461 | $ | 1,965,215 | $ | 400,758 | $ | 264,499 | $ | 210,841 | ||||||||||||||
Fair value per share (NAV) | $ | 76.52 | $ | 47.35 | $ | 42.49 | $ | 61.10 | $ | 40.08 | $ | 32.25 | $ | 9.62 | ||||||||||||||
Shares outstanding in the Separate Account | 32,753 | 32,489 | 12,120 | 32,088 | 10,164 | 8,340 | 22,287 | |||||||||||||||||||||
(1) Investments in mutual fund shares, at cost | $ | 1,970,801 | $ | 1,245,029 | $ | 450,028 | $ | 1,292,980 | $ | 353,119 | $ | 246,865 | $ | 265,906 |
Note: Totals and NAV may not appear to foot/crossfoot/calculate due to rounding. | ||||||||||||||
(Concluded) |
See accompanying notes to financial statements.
13
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
1290 VT Equity Income Portfolio, Class IA | 1290 VT Equity Income Portfolio, Class IB | 1290 VT GAMCO Small Company Value Portfolio, Class IB | 1290 VT Socially Responsible Portfolio, Class IA | 1290 VT Socially Responsible Portfolio, Class IB | BNY Mellon Stock Index Fund, Initial Shares | EQ/AB Small Cap Growth Portfolio, Class IA | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | 306 | $ | 29,704 | $ | 60,622 | $ | 1,840 | $ | 163 | $ | 38,123 | $ | 391 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 83 | 7,871 | 61,849 | 1,674 | 140 | 17,068 | 1,088 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 223 | 21,833 | (1,227 | ) | 166 | 23 | 21,055 | (697 | ) | |||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | (328 | ) | (3,652 | ) | 202,595 | 13,563 | 635 | 69,274 | (5,998 | ) | ||||||||||||||||||
Capital gain distributions | 899 | 87,915 | 681,818 | 5,562 | 492 | 97,554 | 247 | |||||||||||||||||||||
Net realized gain (loss) on investments | 571 | 84,263 | 884,413 | 19,125 | 1,127 | 166,828 | (5,751 | ) | ||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (70 | ) | (39,082 | ) | 904,621 | 41,864 | 3,991 | 412,550 | 32,807 | |||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 501 | 45,181 | 1,789,034 | 60,989 | 5,118 | 579,378 | 27,056 | |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 724 | $ | 67,014 | $ | 1,787,807 | $ | 61,155 | $ | 5,141 | $ | 600,433 | $ | 26,359 |
Note: Totals may not appear to foot/crossfoot due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
14
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Aggressive Allocation Portfolio, Class B | EQ/All Asset Growth Allocation Portfolio, Class IB | EQ/Capital Group Research Portfolio, Class IA | EQ/Conservative Allocation Portfolio, Class B | EQ/Conservative-Plus Allocation Portfolio, Class B | EQ/Core Bond Index Portfolio, Class IA | EQ/Core Plus Bond Portfolio, Class A | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | 3,189 | $ | 75,353 | $ | 10,888 | $ | 573 | $ | 12 | $ | 27,541 | $ | 4,686 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 1,595 | 29,139 | 18,604 | 143 | 4 | 7,580 | 1,095 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 1,594 | 46,214 | (7,716 | ) | 430 | 8 | 19,961 | 3,591 | ||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | (1,188 | ) | (38,416 | ) | 14,917 | (1,475 | ) | (41 | ) | (8,983 | ) | (1,281 | ) | |||||||||||||||
Capital gain distributions | 6,779 | 69,088 | 157,380 | 208 | 14 | - | - | |||||||||||||||||||||
Net realized gain (loss) on investments | 5,591 | 30,672 | 172,297 | (1,267 | ) | (27 | ) | (8,983 | ) | (1,281 | ) | |||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 29,753 | 433,132 | 469,677 | 2,617 | 76 | 39,666 | 5,353 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 35,344 | 463,804 | 641,974 | 1,350 | 49 | 30,683 | 4,072 | |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 36,938 | $ | 510,018 | $ | 634,258 | $ | 1,780 | $ | 57 | $ | 50,644 | $ | 7,663 |
Note: Totals may not appear to foot/crossfoot due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
15
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | EQ/Intermediate Government Bond Portfolio, Class IA | EQ/Janus Enterprise Portfolio, Class IA | EQ/JPMorgan Growth Allocation Portfolio, Class IB | EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | EQ/Large Cap Value Index Portfolio, Class IA | EQ/Large Cap Value Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | 737 | $ | 15,426 | $ | 354 | $ | - | $ | 6,158 | $ | 32,893 | $ | 4,345 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 541 | 3,085 | 5,603 | 49,716 | 9,116 | 10,746 | 1,272 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 196 | 12,341 | (5,249 | ) | (49,716 | ) | (2,958 | ) | 22,147 | 3,073 | ||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | 198 | (2,968 | ) | 9,731 | 160,749 | (36 | ) | 25,300 | 2,080 | |||||||||||||||||||
Capital gain distributions | 3,476 | - | 75,586 | 1,063,676 | 134,461 | 60,046 | 14,608 | |||||||||||||||||||||
Net realized gain (loss) on investments | 3,674 | (2,968 | ) | 85,317 | 1,224,425 | 134,425 | 85,346 | 16,688 | ||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 11,720 | 9,207 | 88,834 | 1,334,798 | 344,254 | 91,297 | 13,945 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 15,394 | 6,239 | 174,151 | 2,559,223 | 478,679 | 176,643 | 30,633 | |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 15,590 | $ | 18,580 | $ | 168,902 | $ | 2,509,507 | $ | 475,721 | $ | 198,790 | $ | 33,706 |
Note: Totals may not appear to foot/crossfoot due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
16
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | EQ/MFS International Growth Portfolio, Class IB | EQ/Mid Cap Index Portfolio, Class IA | EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | EQ/Moderate Allocation Portfolio, Class B | EQ/Moderate- Plus Allocation Portfolio, Class B | EQ/Money Market Portfolio, Class IA | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | - | $ | 21,104 | $ | 7,357 | $ | 25,656 | $ | 2,848 | $ | 4,377 | $ | 94,479 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 37,108 | 11,488 | 3,768 | 9,790 | 806 | 1,519 | 12,567 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | (37,108 | ) | 9,616 | 3,589 | 15,866 | 2,042 | 2,858 | 81,912 | ||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | 72,019 | 1,540 | 6,229 | 23,576 | (798 | ) | (6,897 | ) | 40 | |||||||||||||||||||
Capital gain distributions | 299,619 | 63,703 | 29,020 | 87,127 | 3,212 | 7,983 | - | |||||||||||||||||||||
Net realized gain (loss) on investments | 371,638 | 65,243 | 35,249 | 110,703 | 2,414 | 1,086 | 40 | |||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 1,963,809 | 139,820 | 65,779 | 89,150 | 11,630 | 34,154 | 236 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 2,335,447 | 205,063 | 101,028 | 199,853 | 14,044 | 35,240 | 276 | |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 2,298,339 | $ | 214,679 | $ | 104,617 | $ | 215,719 | $ | 16,086 | $ | 38,098 | $ | 82,188 |
Note: Totals may not appear to foot/crossfoot due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
17
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | EQ/PIMCO Ultra Short Bond Portfolio, Class IB | EQ/Quality Bond PLUS Portfolio, Class IB | EQ/Small Company Index Portfolio, Class IA | EQ/Value Equity Portfolio, Class IB | Fidelity
VIP Contrafund Portfolio, Service Class | Franklin Income VIP Fund, Class 2 | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | 16 | $ | 10,290 | $ | 10,104 | $ | 1,496 | $ | 1,965 | $ | 15,840 | $ | 57,836 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 6,052 | 1,300 | 2,772 | 442 | 581 | 26,234 | 5,762 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | (6,036 | ) | 8,990 | 7,332 | 1,054 | 1,384 | (10,394 | ) | 52,074 | |||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | (72,486 | ) | (15 | ) | (3,768 | ) | (174 | ) | 372 | 65,311 | (1,274 | ) | ||||||||||||||||
Capital gain distributions | - | - | - | 4,320 | 299 | 143,183 | 70,116 | |||||||||||||||||||||
Net realized gain (loss) on investments | (72,486 | ) | (15 | ) | (3,768 | ) | 4,146 | 671 | 208,494 | 68,842 | ||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 377,880 | 3,579 | 13,094 | 14,698 | 27,844 | 913,554 | (32,410 | ) | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 305,394 | 3,564 | 9,326 | 18,844 | 28,515 | 1,122,048 | 36,432 | |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 299,358 | $ | 12,554 | $ | 16,658 | $ | 19,898 | $ | 29,899 | $ | 1,111,654 | $ | 88,506 |
Note: Totals may not appear to foot/crossfoot due to rounding. | ||||||||||||||
(Continued) |
See accompanying notes to financial statements.
18
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
Franklin Rising Dividends VIP Fund, Class 2 | Invesco V.I. Diversified Dividend Fund, Series I | Invesco V.I. Global Core Equity Fund | Invesco V.I. Global Fund, Series II | Invesco V.I. Health Care Fund, Series I | Invesco V.I. Technology Fund, Series I | Janus Henderson Balanced Fund, Class I | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | 1,275 | $ | 2,321 | $ | 619 | $ | - | $ | - | $ | - | $ | 20,091 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 485 | 742 | 695 | 1,546 | 1,617 | 128 | 5,967 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 790 | 1,579 | (76 | ) | (1,546 | ) | (1,617 | ) | (128 | ) | 14,124 | |||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | 940 | 800 | 266 | 301 | (1,626 | ) | (2,924 | ) | 19,395 | |||||||||||||||||||
Capital gain distributions | 14,637 | 9,558 | 80 | 53,240 | - | - | - | |||||||||||||||||||||
Net realized gain (loss) on investments | 15,577 | 10,358 | 346 | 53,541 | (1,626 | ) | (2,924 | ) | 19,395 | |||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (837 | ) | (2,560 | ) | 20,054 | 76,124 | 10,581 | 10,403 | 98,198 | |||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 14,740 | 7,798 | 20,400 | 129,665 | 8,955 | 7,479 | 117,593 | |||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 15,530 | $ | 9,377 | $ | 20,324 | $ | 128,119 | $ | 7,338 | $ | 7,351 | $ | 131,717 |
Note: Totals may not appear to foot/crossfoot due to rounding. | |||||||||||||
(Continued) |
See accompanying notes to financial statements.
19
MONY VARIABLE ACCOUNT L | ||||||||||||||
STATEMENTS OF OPERATIONS | ||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2023 |
SUBACCOUNTS | ||||||||||||||||||||||||||||
Janus Henderson Enterprise Fund, Class I | Janus Henderson Forty Fund, Class I | Janus Henderson Forty Fund, Class S | Janus Henderson Global Research Fund, Class I | Janus Henderson Overseas Fund, Class S | MFS Utilities Series, Initial Class | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||||||||||||
Dividend income | $ | 3,808 | $ | 2,649 | $ | 570 | $ | 16,675 | $ | 5,627 | $ | 9,417 | $ | 4,709 | ||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||||
Mortality and expense risk | 15,905 | 9,198 | 2,535 | 11,146 | 1,909 | 1,113 | 1,019 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | (12,097 | ) | (6,549 | ) | (1,965 | ) | 5,529 | 3,718 | 8,304 | 3,690 | ||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: | ||||||||||||||||||||||||||||
Net realized gain (loss) on redemption of investments | 54,651 | 3,068 | (995 | ) | 35,478 | 3,749 | 4,264 | (7,380 | ) | |||||||||||||||||||
Capital gain distributions | 172,236 | - | - | 50,487 | - | 14,571 | 2,254 | |||||||||||||||||||||
Net realized gain (loss) on investments | 226,887 | 3,068 | (995 | ) | 85,965 | 3,749 | 18,835 | (5,126 | ) | |||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 176,285 | 438,568 | 148,755 | 321,122 | 31,064 | (34,693 | ) | 11,249 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 403,172 | 441,636 | 147,760 | 407,087 | 34,813 | (15,858 | ) | 6,123 | ||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 391,075 | $ | 435,087 | $ | 145,795 | $ | 412,616 | $ | 38,531 | $ | (7,554 | ) | $ | 9,813 |
Note: Totals may not appear to foot/crossfoot due to rounding. | ||||||||||||||
(Concluded) |
See accompanying notes to financial statements.
20
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
1290 VT Equity Income Portfolio, Class IA | 1290 VT Equity Income Portfolio, Class IB | 1290 VT GAMCO Small Company Value Portfolio, Class IB | 1290 VT Socially Responsible Portfolio, Class IA | 1290 VT Socially Responsible Portfolio, Class IB | BNY Mellon Stock Index Fund, Initial Shares | EQ/AB Small Cap Growth Portfolio, Class IA | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 223 | $ | 21,833 | $ | (1,227 | ) | $ | 166 | $ | 23 | $ | 21,055 | $ | (697 | ) | ||||||||||||
Net realized gain (loss) on investments | 571 | 84,263 | 884,413 | 19,125 | 1,127 | 166,828 | (5,751 | ) | ||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (70 | ) | (39,082 | ) | 904,621 | 41,864 | 3,991 | 412,550 | 32,807 | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 724 | 67,014 | 1,787,807 | 61,155 | 5,141 | 600,433 | 26,359 | |||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 24,105 | 50,936 | 238,087 | 55,377 | 868 | 69,681 | 4,468 | |||||||||||||||||||||
Policy maintenance charges | (62 | ) | (1,880 | ) | (11,560 | ) | (684 | ) | (91 | ) | (3,829 | ) | (323 | ) | ||||||||||||||
Policy owners' benefits | - | (47,859 | ) | (310,726 | ) | (17,191 | ) | (1,239 | ) | (162,102 | ) | (5,998 | ) | |||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (24,548 | ) | (101,392 | ) | (189,030 | ) | (65,634 | ) | (1,059 | ) | (103,290 | ) | (25,974 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (505 | ) | (100,195 | ) | (273,229 | ) | (28,132 | ) | (1,521 | ) | (199,540 | ) | (27,827 | ) | ||||||||||||||
Total increase (decrease) in net assets | 219 | (33,181 | ) | 1,514,578 | 33,023 | 3,620 | 400,893 | (1,468 | ) | |||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 14,983 | 1,491,645 | 8,974,368 | 238,753 | 20,001 | 2,528,248 | 170,063 | |||||||||||||||||||||
End of period | $ | 15,202 | $ | 1,458,464 | $ | 10,488,946 | $ | 271,776 | $ | 23,621 | $ | 2,929,141 | $ | 168,595 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
21
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Aggressive Allocation Portfolio, Class B | EQ/All Asset Growth Allocation Portfolio, Class IB | EQ/Capital Group Research Portfolio, Class IA | EQ/Conservative Allocation Portfolio, Class B | EQ/Conservative- Plus Allocation Portfolio, Class B | EQ/Core Bond Index Portfolio, Class IA | EQ/Core Plus Bond Portfolio, Class A | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 1,594 | $ | 46,214 | $ | (7,716 | ) | $ | 430 | $ | 8 | $ | 19,961 | $ | 3,591 | |||||||||||||
Net realized gain (loss) on investments | 5,591 | 30,672 | 172,297 | (1,267 | ) | (27 | ) | (8,983 | ) | (1,281 | ) | |||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 29,753 | 433,132 | 469,677 | 2,617 | 76 | 39,666 | 5,353 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 36,938 | 510,018 | 634,258 | 1,780 | 57 | 50,644 | 7,663 | |||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 6,262 | 208,160 | 92,572 | 10,198 | 464 | 90,035 | 10,388 | |||||||||||||||||||||
Policy maintenance charges | (568 | ) | (10,289 | ) | (4,959 | ) | (71 | ) | (12 | ) | (2,732 | ) | (321 | ) | ||||||||||||||
Policy owners' benefits | - | (166,158 | ) | (70,137 | ) | - | - | (18,527 | ) | (492 | ) | |||||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (643 | ) | (91,230 | ) | (201,159 | ) | (12,543 | ) | (432 | ) | (112,826 | ) | (7,937 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | 5,051 | (59,517 | ) | (183,683 | ) | (2,416 | ) | 20 | (44,050 | ) | 1,638 | |||||||||||||||||
Total increase (decrease) in net assets | 41,989 | 450,501 | 450,575 | (636 | ) | 77 | 6,594 | 9,301 | ||||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 209,747 | 3,875,553 | 2,930,111 | 25,007 | 499 | 1,306,940 | 191,359 | |||||||||||||||||||||
End of period | $ | 251,736 | $ | 4,326,054 | $ | 3,380,686 | $ | 24,371 | $ | 576 | $ | 1,313,534 | $ | 200,660 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
22
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | EQ/Intermediate Government Bond Portfolio, Class IA | EQ/Janus Enterprise Portfolio, Class IA | EQ/JPMorgan Growth Allocation Portfolio, Class IB | EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | EQ/Large Cap Value Index Portfolio, Class IA | EQ/Large Cap Value Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 196 | $ | 12,341 | $ | (5,249 | ) | $ | (49,716 | ) | $ | (2,958 | ) | $ | 22,147 | $ | 3,073 | |||||||||||
Net realized gain (loss) on investments | 3,674 | (2,968 | ) | 85,317 | 1,224,425 | 134,425 | 85,346 | 16,688 | ||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 11,720 | 9,207 | 88,834 | 1,334,798 | 344,254 | 91,297 | 13,945 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 15,590 | 18,580 | 168,902 | 2,509,507 | 475,721 | 198,790 | 33,706 | |||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 3,181 | 44,002 | 28,770 | 199,944 | 39,472 | 65,180 | 8,756 | |||||||||||||||||||||
Policy maintenance charges | (257 | ) | (1,593 | ) | (1,575 | ) | (10,486 | ) | (2,100 | ) | (2,262 | ) | (438 | ) | ||||||||||||||
Policy owners' benefits | (2,215 | ) | (7,469 | ) | (19,176 | ) | (209,801 | ) | (40,001 | ) | (16,653 | ) | (2,598 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (5,344 | ) | (48,352 | ) | (106,824 | ) | (35,978 | ) | (101,212 | ) | (152,962 | ) | (7,260 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (4,635 | ) | (13,412 | ) | (98,805 | ) | (56,321 | ) | (103,841 | ) | (106,697 | ) | (1,540 | ) | ||||||||||||||
Total increase (decrease) in net assets | 10,955 | 5,168 | 70,097 | 2,453,186 | 371,880 | 92,093 | 32,166 | |||||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 77,130 | 567,177 | 1,062,207 | 5,615,724 | 1,277,554 | 1,989,469 | 244,541 | |||||||||||||||||||||
End of period | $ | 88,085 | $ | 572,345 | $ | 1,132,304 | $ | 8,068,910 | $ | 1,649,434 | $ | 2,081,562 | $ | 276,707 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
23
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | EQ/MFS International Growth Portfolio, Class IB | EQ/Mid Cap Index Portfolio, Class IA | EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | EQ/Moderate Allocation Portfolio, Class B | EQ/Moderate-Plus Allocation Portfolio, Class B | EQ/Money Market Portfolio, Class IA | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (37,108 | ) | $ | 9,616 | $ | 3,589 | $ | 15,866 | $ | 2,042 | $ | 2,858 | $ | 81,912 | |||||||||||||
Net realized gain (loss) on investments | 371,638 | 65,243 | 35,249 | 110,703 | 2,414 | 1,086 | 40 | |||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 1,963,809 | 139,820 | 65,779 | 89,150 | 11,630 | 34,154 | 236 | |||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 2,298,339 | 214,679 | 104,617 | 215,719 | 16,086 | 38,098 | 82,188 | |||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 185,735 | 63,334 | 22,841 | 61,616 | 3,028 | 37,072 | 162,448 | |||||||||||||||||||||
Policy maintenance charges | (10,263 | ) | (2,653 | ) | (1,149 | ) | (2,893 | ) | (256 | ) | (521 | ) | (4,130 | ) | ||||||||||||||
Policy owners' benefits | (236,358 | ) | (83,956 | ) | (7,826 | ) | (12,536 | ) | - | - | (19,718 | ) | ||||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (306,362 | ) | (21,116 | ) | (4,570 | ) | (190,782 | ) | (3,608 | ) | (72,181 | ) | (401,893 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (367,248 | ) | (44,391 | ) | 9,296 | (144,595 | ) | (836 | ) | (35,630 | ) | (263,293 | ) | |||||||||||||||
Total increase (decrease) in net assets | 1,931,091 | 170,288 | 113,913 | 71,124 | 15,250 | 2,468 | (181,105 | ) | ||||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 5,451,188 | 1,607,027 | 656,859 | 1,783,724 | 137,077 | 275,935 | 2,223,706 | |||||||||||||||||||||
End of period | $ | 7,382,279 | $ | 1,777,315 | $ | 770,772 | $ | 1,854,848 | $ | 152,327 | $ | 278,403 | $ | 2,042,601 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
24
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | EQ/PIMCO Ultra Short Bond Portfolio, Class IB | EQ/Quality Bond PLUS Portfolio, Class IB | EQ/Small Company Index Portfolio, Class IA | EQ/Value Equity Portfolio, Class IB | Fidelity VIP Contrafund Portfolio, Service Class | Franklin Income VIP Fund, Class 2 | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (6,036 | ) | $ | 8,990 | $ | 7,332 | $ | 1,054 | $ | 1,384 | $ | (10,394 | ) | $ | 52,074 | ||||||||||||
Net realized gain (loss) on investments | (72,486 | ) | (15 | ) | (3,768 | ) | 4,146 | 671 | 208,494 | 68,842 | ||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 377,880 | 3,579 | 13,094 | 14,698 | 27,844 | 913,554 | (32,410 | ) | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 299,358 | 12,554 | 16,658 | 19,898 | 29,899 | 1,111,654 | 88,506 | |||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 38,774 | 27,345 | 28,696 | 4,065 | 1,866 | 123,591 | 43,181 | |||||||||||||||||||||
Policy maintenance charges | (2,547 | ) | (926 | ) | (1,126 | ) | (292 | ) | (252 | ) | (4,785 | ) | (2,383 | ) | ||||||||||||||
Policy owners' benefits | (41,623 | ) | (391 | ) | (10,064 | ) | (1,289 | ) | (1,321 | ) | (82,061 | ) | (19,566 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (68,106 | ) | (29,246 | ) | (24,203 | ) | (5,998 | ) | (8,395 | ) | (206,411 | ) | (84,651 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (73,502 | ) | (3,218 | ) | (6,697 | ) | (3,514 | ) | (8,102 | ) | (169,666 | ) | (63,419 | ) | ||||||||||||||
Total increase (decrease) in net assets | 225,856 | 9,336 | 9,961 | 16,384 | 21,797 | 941,988 | 25,087 | |||||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 916,643 | 244,959 | 466,081 | 121,447 | 159,806 | 3,491,559 | 1,124,076 | |||||||||||||||||||||
End of period | $ | 1,142,499 | $ | 254,295 | $ | 476,042 | $ | 137,831 | $ | 181,603 | $ | 4,433,547 | $ | 1,149,163 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
25
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
Franklin Rising Dividends VIP Fund, Class 2 | Invesco V.I. Diversified Dividend Fund, Series I | Invesco V.I. Global Core Equity Fund | Invesco V.I. Global Fund, Series II | Invesco V.I. Health Care Fund, Series I | Invesco V.I. Technology Fund, Series I | Janus Henderson Balanced Fund, Class I | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 790 | $ | 1,579 | $ | (76 | ) | $ | (1,546 | ) | $ | (1,617 | ) | $ | (128 | ) | $ | 14,124 | ||||||||||
Net realized gain (loss) on investments | 15,577 | 10,358 | 346 | 53,541 | (1,626 | ) | (2,924 | ) | 19,395 | |||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (837 | ) | (2,560 | ) | 20,054 | 76,124 | 10,581 | 10,403 | 98,198 | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 15,530 | 9,377 | 20,324 | 128,119 | 7,338 | 7,351 | 131,717 | |||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 3,230 | 4,491 | 2,256 | 7,703 | 10,805 | 993 | 34,428 | |||||||||||||||||||||
Policy maintenance charges | (294 | ) | (200 | ) | (161 | ) | (699 | ) | (373 | ) | (59 | ) | (1,524 | ) | ||||||||||||||
Policy owners' benefits | (5,166 | ) | (2,105 | ) | (2,460 | ) | (5,486 | ) | (3,904 | ) | - | (39,812 | ) | |||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (8,062 | ) | (5,870 | ) | (5,376 | ) | (21,998 | ) | 15,542 | (11,209 | ) | (61,129 | ) | |||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (10,292 | ) | (3,684 | ) | (5,741 | ) | (20,480 | ) | 22,070 | (10,275 | ) | (68,037 | ) | |||||||||||||||
Total increase (decrease) in net assets | 5,238 | 5,693 | 14,583 | 107,639 | 29,408 | (2,924 | ) | 63,680 | ||||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 136,706 | 114,097 | 98,533 | 381,499 | 235,596 | 21,953 | 925,910 | |||||||||||||||||||||
End of period | $ | 141,944 | $ | 119,790 | $ | 113,116 | $ | 489,138 | $ | 265,004 | $ | 19,029 | $ | 989,590 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
26
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2023
SUBACCOUNTS | ||||||||||||||||||||||||||||
Janus Henderson Enterprise Fund, Class I | Janus Henderson Forty Fund, Class I | Janus Henderson Forty Fund, Class S | Janus Henderson Global Research Fund, Class I | Janus Henderson Overseas Fund, Class S | MFS Utilities Series, Initial Class | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (12,097 | ) | $ | (6,549 | ) | $ | (1,965 | ) | $ | 5,529 | $ | 3,718 | $ | 8,304 | $ | 3,690 | |||||||||||
Net realized gain (loss) on investments | 226,887 | 3,068 | (995 | ) | 85,965 | 3,749 | 18,835 | (5,126 | ) | |||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | 176,285 | 438,568 | 148,755 | 321,122 | 31,064 | (34,693 | ) | 11,249 | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 391,075 | 435,087 | 145,795 | 412,616 | 38,531 | (7,554 | ) | 9,813 | ||||||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 64,334 | 24,137 | 11,868 | 97,019 | 19,820 | 11,727 | 17,528 | |||||||||||||||||||||
Policy maintenance charges | (2,922 | ) | (2,111 | ) | (909 | ) | (2,208 | ) | (876 | ) | (734 | ) | (694 | ) | ||||||||||||||
Policy owners' benefits | (229,822 | ) | (490 | ) | (8,750 | ) | (37,152 | ) | (6,895 | ) | (20,686 | ) | (13,177 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (93,045 | ) | (13,292 | ) | (23,370 | ) | (116,874 | ) | (37,481 | ) | (11,745 | ) | (19,999 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (261,455 | ) | 8,244 | (21,161 | ) | (59,215 | ) | (25,432 | ) | (21,438 | ) | (16,342 | ) | |||||||||||||||
Total increase (decrease) in net assets | 129,620 | 443,331 | 124,634 | 353,401 | 13,099 | (28,992 | ) | (6,529 | ) | |||||||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 2,360,217 | 1,125,116 | 381,827 | 1,611,814 | 387,659 | 293,491 | 217,370 | |||||||||||||||||||||
End of period | $ | 2,489,837 | $ | 1,568,447 | $ | 506,461 | $ | 1,965,215 | $ | 400,758 | $ | 264,499 | $ | 210,841 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
27
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
1290 VT Equity Income Portfolio, Class IA | 1290 VT Equity Income Portfolio, Class IB | 1290 VT GAMCO Small Company Value Portfolio, Class IB | 1290 VT Socially Responsible Portfolio, Class IA | 1290 VT Socially Responsible Portfolio, Class IB | BNY Mellon Stock Index Fund, Initial Shares | EQ/AB Small Cap Growth Portfolio, Class IA | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 179 | $ | 18,493 | $ | (11,389 | ) | $ | (95 | ) | $ | (16 | ) | $ | 19,336 | $ | (1,029 | ) | ||||||||||
Net realized gain (loss) on investments | 1,077 | 81,820 | 714,447 | 10,612 | 2,071 | 313,870 | 3,415 | |||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (980 | ) | (64,239 | ) | (1,926,141 | ) | (83,736 | ) | (8,900 | ) | (953,506 | ) | (77,589 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | 276 | 36,074 | (1,223,083 | ) | (73,219 | ) | (6,845 | ) | (620,300 | ) | (75,203 | ) | ||||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 17,759 | 76,384 | 280,259 | 43,119 | 1,112 | 79,327 | 4,363 | |||||||||||||||||||||
Policy maintenance charges | (46 | ) | (2,071 | ) | (11,959 | ) | (720 | ) | (108 | ) | (4,095 | ) | (351 | ) | ||||||||||||||
Policy owners' benefits | (12,425 | ) | (20,682 | ) | (364,897 | ) | (7,163 | ) | (2,041 | ) | (126,886 | ) | (1,925 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (5,937 | ) | (73,615 | ) | (465,677 | ) | (56,499 | ) | (3,867 | ) | (136,065 | ) | (22,575 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (649 | ) | (19,984 | ) | (562,274 | ) | (21,263 | ) | (4,904 | ) | (187,719 | ) | (20,488 | ) | ||||||||||||||
Total increase (decrease) in net assets | (373 | ) | 16,090 | (1,785,357 | ) | (94,482 | ) | (11,749 | ) | (808,019 | ) | (95,691 | ) | |||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 15,356 | 1,475,555 | 10,759,725 | 333,235 | 31,750 | 3,336,267 | 265,754 | |||||||||||||||||||||
End of period | $ | 14,983 | $ | 1,491,645 | $ | 8,974,368 | $ | 238,753 | $ | 20,001 | $ | 2,528,248 | $ | 170,063 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
28
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Aggressive Allocation Portfolio, Class B | EQ/All Asset Growth Allocation Portfolio, Class IB | EQ/Capital Group Research Portfolio, Class IA | EQ/Conservative Allocation Portfolio, Class B | EQ/Conservative- Plus Allocation Portfolio, Class B | EQ/Core Bond Index Portfolio, Class IA | EQ/Core Plus Bond Portfolio, Class A | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 407 | $ | 23,298 | $ | (13,382 | ) | $ | 11 | $ | 4 | $ | 14,127 | $ | 3,805 | |||||||||||||
Net realized gain (loss) on investments | 28,187 | 273,504 | 393,086 | (5,312 | ) | 5 | (3,258 | ) | (657 | ) | ||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (77,551 | ) | (1,017,181 | ) | (1,104,706 | ) | (3,561 | ) | (78 | ) | (145,882 | ) | (30,747 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (48,957 | ) | (720,379 | ) | (725,002 | ) | (8,862 | ) | (69 | ) | (135,013 | ) | (27,599 | ) | ||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 6,238 | 253,966 | 129,955 | 13,642 | 464 | 121,742 | 21,074 | |||||||||||||||||||||
Policy maintenance charges | (569 | ) | (10,995 | ) | (5,236 | ) | (101 | ) | (12 | ) | (2,953 | ) | (358 | ) | ||||||||||||||
Policy owners' benefits | (57 | ) | (193,677 | ) | (59,972 | ) | (27,459 | ) | - | (19,727 | ) | (512 | ) | |||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (6,381 | ) | (304,637 | ) | (151,288 | ) | (27,239 | ) | (283 | ) | (114,336 | ) | (5,430 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (769 | ) | (255,343 | ) | (86,541 | ) | (41,157 | ) | 169 | (15,274 | ) | 14,774 | ||||||||||||||||
Total increase (decrease) in net assets | (49,726 | ) | (975,722 | ) | (811,543 | ) | (50,019 | ) | 100 | (150,287 | ) | (12,825 | ) | |||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 259,473 | 4,851,275 | 3,741,654 | 75,026 | 399 | 1,457,227 | 204,184 | |||||||||||||||||||||
End of period | $ | 209,747 | $ | 3,875,553 | $ | 2,930,111 | $ | 25,007 | $ | 499 | $ | 1,306,940 | $ | 191,359 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
29
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | EQ/Intermediate Government Bond Portfolio, Class IA | EQ/Janus Enterprise Portfolio, Class IA | EQ/JPMorgan Growth Allocation Portfolio, Class IB | EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | EQ/Large Cap Value Index Portfolio, Class IA | EQ/Large Cap Value Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (250 | ) | $ | 2,322 | $ | (5,772 | ) | $ | (49,953 | ) | $ | (8,161 | ) | $ | 18,989 | $ | 2,172 | ||||||||||
Net realized gain (loss) on investments | 2,011 | (1,723 | ) | 79,970 | 428,807 | 183,916 | 63,117 | 12,472 | ||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (23,407 | ) | (51,754 | ) | (299,278 | ) | (4,165,286 | ) | (773,725 | ) | (273,807 | ) | (45,337 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (21,646 | ) | (51,155 | ) | (225,080 | ) | (3,786,432 | ) | (597,970 | ) | (191,701 | ) | (30,693 | ) | ||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 3,211 | 49,209 | 32,088 | 226,531 | 42,930 | 98,990 | 31,205 | |||||||||||||||||||||
Policy maintenance charges | (257 | ) | (1,793 | ) | (1,657 | ) | (10,999 | ) | (2,162 | ) | (2,441 | ) | (472 | ) | ||||||||||||||
Policy owners' benefits | (760 | ) | (11,045 | ) | (3,581 | ) | (397,525 | ) | (38,162 | ) | (10,588 | ) | (2,343 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (3,980 | ) | (52,845 | ) | (70,686 | ) | (330,142 | ) | (100,313 | ) | (100,112 | ) | (4,250 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (1,786 | ) | (16,474 | ) | (43,836 | ) | (512,135 | ) | (97,707 | ) | (14,151 | ) | 24,140 | |||||||||||||||
Total increase (decrease) in net assets | (23,432 | ) | (67,629 | ) | (268,916 | ) | (4,298,567 | ) | (695,677 | ) | (205,852 | ) | (6,553 | ) | ||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 100,562 | 634,806 | 1,331,123 | 9,914,291 | 1,973,231 | 2,195,321 | 251,094 | |||||||||||||||||||||
End of period | $ | 77,130 | $ | 567,177 | $ | 1,062,207 | $ | 5,615,724 | $ | 1,277,554 | $ | 1,989,469 | $ | 244,541 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
30
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | EQ/MFS International Growth Portfolio, Class IB | EQ/Mid Cap Index Portfolio, Class IA | EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | EQ/Moderate Allocation Portfolio, Class B | EQ/Moderate- Plus Allocation Portfolio, Class B | EQ/Money Market Portfolio, Class IA | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (34,352 | ) | $ | 2,994 | $ | 2,935 | $ | 7,310 | $ | 807 | $ | 1,467 | $ | 11,186 | |||||||||||||
Net realized gain (loss) on investments | 746,888 | 64,917 | 48,720 | 65,586 | 6,105 | 26,855 | 13 | |||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (2,942,656 | ) | (382,420 | ) | (162,805 | ) | (396,005 | ) | (39,224 | ) | (91,900 | ) | - | |||||||||||||||
Net increase (decrease) in net assets resulting from operations | (2,230,120 | ) | (314,509 | ) | (111,150 | ) | (323,109 | ) | (32,312 | ) | (63,578 | ) | 11,199 | |||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 208,228 | 74,712 | 27,894 | 71,820 | 7,491 | 37,147 | 191,129 | |||||||||||||||||||||
Policy maintenance charges | (10,248 | ) | (2,735 | ) | (1,209 | ) | (3,106 | ) | (280 | ) | (522 | ) | (4,660 | ) | ||||||||||||||
Policy owners' benefits | (134,685 | ) | (25,519 | ) | (6,326 | ) | (8,119 | ) | (29,633 | ) | (49 | ) | (39,470 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (325,795 | ) | (124,071 | ) | (40,626 | ) | (120,826 | ) | (19,228 | ) | (66,452 | ) | (152,688 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (262,500 | ) | (77,613 | ) | (20,267 | ) | (60,231 | ) | (41,650 | ) | (29,876 | ) | (5,689 | ) | ||||||||||||||
Total increase (decrease) in net assets | (2,492,620 | ) | (392,122 | ) | (131,417 | ) | (383,340 | ) | (73,962 | ) | (93,454 | ) | 5,510 | |||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 7,943,808 | 1,999,149 | 788,276 | 2,167,064 | 211,039 | 369,389 | 2,218,196 | |||||||||||||||||||||
End of period | $ | 5,451,188 | $ | 1,607,027 | $ | 656,859 | $ | 1,783,724 | $ | 137,077 | $ | 275,935 | $ | 2,223,706 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
31
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | EQ/PIMCO Ultra Short Bond Portfolio, Class IB | EQ/Quality Bond PLUS Portfolio, Class IB | EQ/Small Company Index Portfolio, Class IA | EQ/Value Equity Portfolio, Class IB | Fidelity VIP Contrafund Portfolio, Service Class | Franklin Income VIP Fund, Class 2 | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (6,468 | ) | $ | 2,112 | $ | 342 | $ | 730 | $ | 1,196 | $ | (10,384 | ) | $ | 50,298 | ||||||||||||
Net realized gain (loss) on investments | (40,381 | ) | (283 | ) | 836 | 4,368 | 3,852 | 269,350 | 24,465 | |||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (702,979 | ) | (4,667 | ) | (57,772 | ) | (36,082 | ) | (34,606 | ) | (1,609,937 | ) | (147,118 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (749,828 | ) | (2,838 | ) | (56,594 | ) | (30,984 | ) | (29,558 | ) | (1,350,971 | ) | (72,355 | ) | ||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 40,374 | 27,737 | 31,988 | 3,902 | 2,262 | 120,444 | 43,888 | |||||||||||||||||||||
Policy maintenance charges | (2,857 | ) | (912 | ) | (1,168 | ) | (326 | ) | (255 | ) | (5,039 | ) | (2,516 | ) | ||||||||||||||
Policy owners' benefits | (21,063 | ) | (4,799 | ) | (9,226 | ) | (1,595 | ) | (68 | ) | (176,862 | ) | (2,085 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (44,500 | ) | (26,254 | ) | (24,527 | ) | (4,237 | ) | (5,150 | ) | (177,563 | ) | (62,496 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (28,046 | ) | (4,228 | ) | (2,933 | ) | (2,256 | ) | (3,211 | ) | (239,020 | ) | (23,209 | ) | ||||||||||||||
Total increase (decrease) in net assets | (777,874 | ) | (7,066 | ) | (59,527 | ) | (33,240 | ) | (32,769 | ) | (1,589,991 | ) | (95,564 | ) | ||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 1,694,517 | 252,025 | 525,608 | 154,687 | 192,575 | 5,081,550 | 1,219,640 | |||||||||||||||||||||
End of period | $ | 916,643 | $ | 244,959 | $ | 466,081 | $ | 121,447 | $ | 159,806 | $ | 3,491,559 | $ | 1,124,076 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
32
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
Franklin Rising Dividends VIP Fund, Class 2 | Invesco V.I. Diversified Dividend Fund, Series I | Invesco V.I. Global Core Equity Fund | Invesco V.I. Global Fund, Series II | Invesco V.I. Health Care Fund, Series I | Invesco V.I. Technology Fund, Series I | Janus Henderson Balanced Fund, Class I | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | 631 | $ | 1,393 | $ | (317 | ) | $ | (1,485 | ) | $ | (1,505 | ) | $ | (175 | ) | $ | 7,656 | ||||||||||
Net realized gain (loss) on investments | 18,765 | 17,497 | 7,513 | 75,789 | 33,397 | 10,228 | 52,387 | |||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (36,740 | ) | (22,041 | ) | (35,900 | ) | (257,161 | ) | (69,551 | ) | (25,010 | ) | (253,804 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (17,344 | ) | (3,151 | ) | (28,704 | ) | (182,857 | ) | (37,659 | ) | (14,957 | ) | (193,761 | ) | ||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 3,531 | 4,879 | 2,159 | 8,892 | 16,004 | 1,000 | 45,009 | |||||||||||||||||||||
Policy maintenance charges | (327 | ) | (225 | ) | (155 | ) | (717 | ) | (411 | ) | (45 | ) | (1,577 | ) | ||||||||||||||
Policy owners' benefits | (2,037 | ) | (8,417 | ) | - | (5,394 | ) | (5,021 | ) | - | (16,378 | ) | ||||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (5,852 | ) | (5,038 | ) | (4,361 | ) | (6,249 | ) | (10,025 | ) | (1,174 | ) | (67,551 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (4,685 | ) | (8,801 | ) | (2,357 | ) | (3,468 | ) | 547 | (219 | ) | (40,497 | ) | |||||||||||||||
Total increase (decrease) in net assets | (22,029 | ) | (11,952 | ) | (31,061 | ) | (186,325 | ) | (37,112 | ) | (15,176 | ) | (234,258 | ) | ||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 158,735 | 126,049 | 129,594 | 567,824 | 272,708 | 37,129 | 1,160,168 | |||||||||||||||||||||
End of period | $ | 136,706 | $ | 114,097 | $ | 98,533 | $ | 381,499 | $ | 235,596 | $ | 21,953 | $ | 925,910 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Continued)
See accompanying notes to financial statements.
33
MONY VARIABLE ACCOUNT L
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2022
SUBACCOUNTS | ||||||||||||||||||||||||||||
Janus Henderson Enterprise Fund, Class I | Janus Henderson Forty Fund, Class I | Janus Henderson Forty Fund, Class S | Janus Henderson Global Research Fund, Class I | Janus Henderson Overseas Fund, Class S | MFS Utilities Series, Initial Class | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS: | ||||||||||||||||||||||||||||
OPERATIONS: | ||||||||||||||||||||||||||||
Net investment income (loss) | $ | (6,861 | ) | $ | (6,651 | ) | $ | (2,230 | ) | $ | 17,524 | $ | 4,653 | $ | 5,817 | $ | 2,223 | |||||||||||
Net realized gain (loss) on investments | 429,366 | 206,924 | 72,519 | 228,108 | 298 | 13,691 | 806 | |||||||||||||||||||||
Change in net unrealized appreciation (depreciation) on investments | (898,947 | ) | (818,255 | ) | (269,352 | ) | (663,470 | ) | (45,117 | ) | (18,888 | ) | (30,811 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (476,442 | ) | (617,982 | ) | (199,063 | ) | (417,838 | ) | (40,166 | ) | 620 | (27,782 | ) | |||||||||||||||
POLICY TRANSACTIONS: | ||||||||||||||||||||||||||||
Policy owners' net payments | 62,847 | 25,407 | 12,487 | 89,373 | 20,099 | 12,310 | 19,000 | |||||||||||||||||||||
Policy maintenance charges | (3,094 | ) | (2,165 | ) | (953 | ) | (2,241 | ) | (865 | ) | (791 | ) | (714 | ) | ||||||||||||||
Policy owners' benefits | (21,214 | ) | (65,237 | ) | (714 | ) | (67,509 | ) | (2,300 | ) | (8,017 | ) | (1,812 | ) | ||||||||||||||
Net transfers (to) from the Company and/or Subaccounts | (107,557 | ) | (53,803 | ) | (15,186 | ) | (112,281 | ) | (17,854 | ) | (9,114 | ) | (13,056 | ) | ||||||||||||||
Increase (decrease) in net assets resulting from Policy transactions | (69,018 | ) | (95,798 | ) | (4,366 | ) | (92,658 | ) | (920 | ) | (5,612 | ) | 3,418 | |||||||||||||||
Total increase (decrease) in net assets | (545,460 | ) | (713,780 | ) | (203,429 | ) | (510,496 | ) | (41,086 | ) | (4,992 | ) | (24,364 | ) | ||||||||||||||
NET ASSETS: | ||||||||||||||||||||||||||||
Beginning of period | 2,905,677 | 1,838,896 | 585,256 | 2,122,310 | 428,745 | 298,483 | 241,734 | |||||||||||||||||||||
End of period | $ | 2,360,217 | $ | 1,125,116 | $ | 381,827 | $ | 1,611,814 | $ | 387,659 | $ | 293,491 | $ | 217,370 |
Note: Totals may not appear to foot/crossfoot due to rounding.
(Concluded)
See accompanying notes to financial statements.
34
MONY VARIABLE ACCOUNT L
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 2023
1. | ORGANIZATION |
The MONY Variable Account L (the “Separate Account”), a segregated unit investment trust registered under the Investment Company Act of 1940, as amended, was established by MONY Life Insurance Company, and exists in accordance with the regulations of the New York Department of Financial Services. MONY Life Insurance Company was acquired by AXA Financial, Inc., which made MONY Life Insurance Company a wholly owned subsidiary of AXA Financial, Inc. MONY Life Insurance Company was later acquired by Protective Life Insurance Company (the “Company”), which made MONY Life Insurance Company a wholly owned subsidiary of Protective Life Insurance Company. Protective Life Insurance Company is a wholly owned subsidiary of Protective Life Corporation (“PLC”). PLC is a wholly owned subsidiary of Dai-ichi Life International Holding, LLC, a godo kaisha organized under the laws of Japan.
Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company’s other assets and liabilities. The portion of the Separate Account's assets applicable to the variable life policies (the “Policies”) is not chargeable with liabilities arising out of any other business the Company may conduct.
The Separate Account is a funding vehicle for individual variable life insurance Policies; it consists of a number of subaccounts (the “Subaccounts”), also commonly referred to as investment divisions or funds, each of which is treated as an individual accounting entity for financial reporting purposes. The Separate Account's value at any time is allocated among Policy owners based on the number and value of their accumulation units representing their interest in the Separate Account; all of the investible assets of the Separate Account are invested in the corresponding mutual funds.
Policy owners may allocate some or all of the applicable net payments or transfer some or all of the Policy value to the Company’s guaranteed account, which is not included in these financial statements. The assets of the Company support its insurance and annuity obligations and are subject to the Company's general liabilities from business operations.
Policy owners' net payments are allocated to the Subaccounts in accordance with Policy owner instructions and are recorded as Policy owners’ net payments in the Statements of Changes in Net Assets. Such amounts are used to provide account funds to pay Policy values under the Policies. New Policies are no longer being sold under the products in the Separate Account, but owners of existing Policies may make additional deposits.
The following is a list of the variable life insurance products funded by the Separate Account:
MONY Custom Equity Master | MONY Survivorship VUL |
MONY Custom Estate Master | MONY VUL I |
MONY Equity Master | MONY VUL II |
MONY Strategist |
35
For the years ended December 31, 2023 and 2022, the Separate Account was invested in up to 49 Subaccounts, as follows:
1290 VT Equity Income Portfolio, Class IA | EQ/Moderate Allocation Portfolio, Class B |
1290 VT Equity Income Portfolio, Class IB | EQ/Moderate-Plus Allocation Portfolio, Class B |
1290 VT GAMCO Small Company Value Portfolio, Class IB | EQ/Money Market Portfolio, Class IA |
1290 VT Socially Responsible Portfolio, Class IA | EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB |
1290 VT Socially Responsible Portfolio, Class IB | EQ/PIMCO Ultra Short Bond Portfolio, Class IB |
BNY Mellon Stock Index Fund, Initial Shares | EQ/Quality Bond PLUS Portfolio, Class IB |
EQ/AB Small Cap Growth Portfolio, Class IA | EQ/Small Company Index Portfolio, Class IA |
EQ/Aggressive Allocation Portfolio, Class B | EQ/Value Equity Portfolio, Class IB |
EQ/All Asset Growth Allocation Portfolio, Class IB | Fidelity VIP Contrafund Portfolio,Service Class |
EQ/Capital Group Research Portfolio, Class IA | Franklin Income VIP Fund, Class 2 |
EQ/Conservative Allocation Portfolio, Class B | Franklin Rising Dividends VIP Fund, Class 2 |
EQ/Conservative-Plus Allocation Portfolio, Class B | Invesco V.I. Diversified Dividend Fund, Series I |
EQ/Core Bond Index Portfolio, Class IA | Invesco V.I. Global Core Equity Fund |
EQ/Core Plus Bond Portfolio, Class A | Invesco V.I. Global Fund, Series II |
EQ/Global Equity Managed Volatility Portfolio, Class IA | Invesco V.I. Health Care Fund, Series I |
EQ/Intermediate Government Bond Portfolio, Class IA | Invesco V.I. Technology Fund, Series I |
EQ/Janus Enterprise Portfolio, Class IA | Janus Henderson Balanced Fund, Class I |
EQ/JPMorgan Growth Allocation Portfolio, Class IB | Janus Henderson Enterprise Fund, Class I |
EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | Janus Henderson Forty Fund, Class I |
EQ/Large Cap Value Index Portfolio, Class IA | Janus Henderson Forty Fund, Class S |
EQ/Large Cap Value Managed Volatility Portfolio, Class IA | Janus Henderson Global Research Fund, Class I |
EQ/Loomis Sayles Growth Portfolio, Class IB | Janus Henderson Overseas Fund, Class S |
EQ/MFS International Growth Portfolio, Class IB | MFS Utilities Series, Initial Class |
EQ/Mid Cap Index Portfolio, Class IA | PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class |
EQ/Mid Cap Value Managed Volatility Portfolio, Class IA |
The Separate Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services — Investment Companies".
36
2. | SIGNIFICANT ACCOUNTING POLICIES |
The following is a summary of the significant accounting policies of the Separate Account.
Investment valuation
Investments are made and measured in shares and are presented net of management fees and other operating expenses incurred by the Subaccounts. The investments are valued at the net asset values of the mutual funds, which value their investment securities at fair value. Transactions with the mutual funds are recognized on the trade date.
The Separate Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Separate Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:
Level 1 – Unadjusted quoted prices for identical securities in active markets.
Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.
Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.
The Separate Account determines the fair values of certain financial assets based on quoted market prices. All of the investments in the Subaccounts of the Separate Account are classified as Level 1 in the fair value hierarchy and consist of open-ended mutual funds. Participants may, without restriction, transact at the daily net asset value (“NAV”) of the mutual funds. The NAV represents the daily per share value based on the fair value of the underlying portfolio of investments of the respective Subaccounts.
Receivables and payables from (to) the Policies and the fund manager
Receivables and payables from (to) the Policies and the fund manager include trading activity initiated at the Policy level from the last business day of the year that has not yet been settled with the fund manager.
Receivables and payables from (to) the Company
Receivables and payables from (to) the Company include accruals for the variance between investments and reserves applicable to the Subaccount.
Dividend income and capital gain distributions
Dividend income and capital gain distributions are recorded on the ex-dividend date and are reinvested in additional shares of the mutual funds. Ordinary dividend and capital gain distributions are recognized within net investment income and net realized gains, respectively, as recorded in the financial statements of the Subaccounts.
Net realized gains and losses
Net realized gains and losses on investments include gains and losses on redemptions of the Subaccounts’ shares (determined for each product using a weighted average cost basis) and capital gain distributions from the mutual funds.
Net transfers (to) from the Company and/or Subaccounts
Net transfers (to) from the Company and Subaccounts include transfers between the Subaccounts of the Separate Account as well as transfers between the Separate Account and the Company.
37
Federal income taxes
The results of the operations of the Separate Account are included in the federal income tax return of the Company. Under the provisions of the Policies, the Company has the right to charge the Separate Account for federal income tax attributable to the Separate Account. No charge has been made against the Separate Account for such tax during the year ended December 31, 2023. Management will periodically review the application of this policy in the event of changes in tax law. Accordingly, a change may be made in future years to consider charges for any federal income taxes that would be attributable to the Policies.
Use of estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities, as well as the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from the estimates reported in the accompanying financial statements.
Risks and uncertainties
The Separate Account provides for various investment options in any combination of Subaccounts, each of which bears exposure to the market, credit, and liquidity risks of the underlying portfolio in which it invests. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances, the amounts reported in the statements of assets and liabilities, of operations and of changes in net assets. Accordingly, these financial statements should be read in conjunction with the financial statements and footnotes of the underlying Subaccounts identified in Note 1.
38
3. | PURCHASES AND SALES OF INVESTMENTS |
The cost of purchases and proceeds from sales of investments for the year ended December 31, 2023 were as follows: |
Subaccount | Purchases | Sales | ||||||
1290 VT Equity Income Portfolio, Class IA | $ | 21,668 | $ | 20,814 | ||||
1290 VT Equity Income Portfolio, Class IB | 154,810 | 127,002 | ||||||
1290 VT GAMCO Small Company Value Portfolio, Class IB | 926,641 | 639,105 | ||||||
1290 VT Socially Responsible Portfolio, Class IA | 36,504 | 55,293 | ||||||
1290 VT Socially Responsible Portfolio, Class IB | 1,153 | 1,853 | ||||||
BNY Mellon Stock Index Fund, Initial Shares | 170,116 | 239,422 | ||||||
EQ/AB Small Cap Growth Portfolio, Class IA | 2,345 | 28,140 | ||||||
EQ/Aggressive Allocation Portfolio, Class B | 15,852 | 7,989 | ||||||
EQ/All Asset Growth Allocation Portfolio, Class IB | 305,282 | 362,025 | ||||||
EQ/Capital Group Research Portfolio, Class IA | 210,646 | 204,315 | ||||||
EQ/Conservative Allocation Portfolio, Class B | 11,323 | 12,722 | ||||||
EQ/Conservative-Plus Allocation Portfolio, Class B | 481 | 447 | ||||||
EQ/Core Bond Index Portfolio, Class IA | 85,957 | 98,548 | ||||||
EQ/Core Plus Bond Portfolio, Class A | 19,201 | 10,830 | ||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | 6,422 | 6,161 | ||||||
EQ/Intermediate Government Bond Portfolio, Class IA | 44,676 | 40,046 | ||||||
EQ/Janus Enterprise Portfolio, Class IA | 90,701 | 101,919 | ||||||
EQ/JPMorgan Growth Allocation Portfolio, Class IB | 1,168,176 | 431,448 | ||||||
EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | 158,491 | 122,368 | ||||||
EQ/Large Cap Value Index Portfolio, Class IA | 146,179 | 138,460 | ||||||
EQ/Large Cap Value Managed Volatility Portfolio, Class IA | 41,547 | 21,072 | ||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | 467,192 | 476,346 | ||||||
EQ/MFS International Growth Portfolio, Class IB | 111,731 | 111,092 | ||||||
EQ/Mid Cap Index Portfolio, Class IA | 99,357 | 45,565 | ||||||
EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | 143,971 | 159,507 | ||||||
EQ/Moderate Allocation Portfolio, Class B | 9,206 | 4,496 | ||||||
EQ/Moderate-Plus Allocation Portfolio, Class B | 17,358 | 41,141 | ||||||
EQ/Money Market Portfolio, Class IA | 796,411 | 864,111 | ||||||
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | 25,017 | 89,186 | ||||||
EQ/PIMCO Ultra Short Bond Portfolio, Class IB | 28,168 | 18,451 | ||||||
EQ/Quality Bond PLUS Portfolio, Class IB | 30,131 | 29,266 | ||||||
EQ/Small Company Index Portfolio, Class IA | 8,400 | 4,363 | ||||||
EQ/Value Equity Portfolio, Class IB | 3,453 | 7,006 | ||||||
Fidelity VIP Contrafund Portfolio, Service Class | 205,617 | 243,018 | ||||||
Franklin Income VIP Fund, Class 2 | 144,475 | 67,984 | ||||||
Franklin Rising Dividends VIP Fund, Class 2 | 18,046 | 10,688 | ||||||
Invesco V.I. Diversified Dividend Fund, Series I | 14,526 | 5,275 | ||||||
Invesco V.I. Global Core Equity Fund | 2,590 | 6,538 | ||||||
Invesco V.I. Global Fund, Series II | 56,811 | 17,793 | ||||||
Invesco V.I. Health Care Fund, Series I | 58,487 | 33,937 | ||||||
Invesco V.I. Technology Fund, Series I | 204 | 10,347 | ||||||
Janus Henderson Balanced Fund, Class I | 33,915 | 75,042 | ||||||
Janus Henderson Enterprise Fund, Class I | 214,977 | 303,873 | ||||||
Janus Henderson Forty Fund, Class I | 19,810 | 50,126 | ||||||
Janus Henderson Forty Fund, Class S | 6,107 | 21,383 |
39
Subaccount | Purchases | Sales | ||||||
Janus Henderson Global Research Fund, Class I | $ | 114,227 | $ | 124,831 | ||||
Janus Henderson Overseas Fund, Class S | 16,885 | 32,657 | ||||||
MFS Utilities Series, Initial Class | 31,778 | 26,357 | ||||||
PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | 18,084 | 25,294 |
40
4. | CHANGES IN UNITS OUTSTANDING |
The changes in units outstanding for the years or periods ended December 31, 2023 and 2022 were as follows: |
2023 | 2022 | |||||||||||||||||||||||
Subaccount | Units Issued | Units Redeemed | Net Increase (Decrease) | Units Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
1290 VT Equity Income Portfolio, Class IA | 721 | 730 | (9 | ) | 719 | 744 | (25 | ) | ||||||||||||||||
1290 VT Equity Income Portfolio, Class IB | 1,052 | 3,304 | (2,252 | ) | 2,026 | 2,592 | (566 | ) | ||||||||||||||||
1290 VT GAMCO Small Company Value Portfolio, Class IB | 2,145 | 5,643 | (3,498 | ) | 2,757 | 7,822 | (5,065 | ) | ||||||||||||||||
1290 VT Socially Responsible Portfolio, Class IA | 1,167 | 2,147 | (980 | ) | 527 | 1,374 | (847 | ) | ||||||||||||||||
1290 VT Socially Responsible Portfolio, Class IB | 14 | 49 | (35 | ) | 19 | 161 | (142 | ) | ||||||||||||||||
BNY Mellon Stock Index Fund, Initial Shares | 893 | 6,100 | (5,207 | ) | 737 | 5,871 | (5,134 | ) | ||||||||||||||||
EQ/AB Small Cap Growth Portfolio, Class IA | 46 | 726 | (680 | ) | 37 | 565 | (528 | ) | ||||||||||||||||
EQ/Aggressive Allocation Portfolio, Class B | 308 | 335 | (27 | ) | 321 | 333 | (12 | ) | ||||||||||||||||
EQ/All Asset Growth Allocation Portfolio, Class IB | 5,956 | 12,373 | (6,417 | ) | 5,104 | 14,290 | (9,186 | ) | ||||||||||||||||
EQ/Capital Group Research Portfolio, Class IA | 1,713 | 5,346 | (3,633 | ) | 3,484 | 5,532 | (2,048 | ) | ||||||||||||||||
EQ/Conservative Allocation Portfolio, Class B | 819 | 974 | (155 | ) | 987 | 4,177 | (3,190 | ) | ||||||||||||||||
EQ/Conservative-Plus Allocation Portfolio, Class B | 32 | 31 | 1 | 32 | 20 | 12 | ||||||||||||||||||
EQ/Core Bond Index Portfolio, Class IA | 4,261 | 6,546 | (2,285 | ) | 5,550 | 6,630 | (1,080 | ) | ||||||||||||||||
EQ/Core Plus Bond Portfolio, Class A | 975 | 654 | 321 | 1,645 | 662 | 983 | ||||||||||||||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | 42 | 105 | (63 | ) | 39 | 74 | (35 | ) | ||||||||||||||||
EQ/Intermediate Government Bond Portfolio, Class IA | 2,083 | 2,703 | (620 | ) | 1,784 | 2,882 | (1,098 | ) | ||||||||||||||||
EQ/Janus Enterprise Portfolio, Class IA | 342 | 2,438 | (2,096 | ) | 390 | 1,515 | (1,125 | ) | ||||||||||||||||
EQ/JPMorgan Growth Allocation Portfolio, Class IB | 2,252 | 8,939 | (6,687 | ) | 3,022 | 14,720 | (11,698 | ) | ||||||||||||||||
EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | 442 | 2,721 | (2,279 | ) | 724 | 3,112 | (2,388 | ) | ||||||||||||||||
EQ/Large Cap Value Index Portfolio, Class IA | 1,555 | 3,632 | (2,077 | ) | 2,515 | 2,801 | (286 | ) | ||||||||||||||||
EQ/Large Cap Value Managed Volatility Portfolio, Class IA | 879 | 731 | 148 | 1,765 | 769 | 996 | ||||||||||||||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | 3,611 | 10,418 | (6,807 | ) | 2,841 | 9,640 | (6,799 | ) | ||||||||||||||||
EQ/MFS International Growth Portfolio, Class IB | 1,024 | 3,887 | (2,863 | ) | 1,606 | 4,335 | (2,729 | ) | ||||||||||||||||
EQ/Mid Cap Index Portfolio, Class IA | 1,521 | 962 | 559 | 388 | 861 | (473 | ) | |||||||||||||||||
EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | 930 | 4,439 | (3,509 | ) | 999 | 2,679 | (1,680 | ) | ||||||||||||||||
EQ/Moderate Allocation Portfolio, Class B | 207 | 239 | (32 | ) | 476 | 3,228 | (2,752 | ) | ||||||||||||||||
EQ/Moderate-Plus Allocation Portfolio, Class B | 283 | 2,208 | (1,925 | ) | 292 | 1,975 | (1,683 | ) | ||||||||||||||||
EQ/Money Market Portfolio, Class IA | 64,465 | 78,484 | (14,019 | ) | 45,014 | 44,915 | 99 |
41
2023 | 2022 | |||||||||||||||||||||||
Subaccount | Units Issued | Units Redeemed | Net Increase (Decrease) | Units Issued | Units Redeemed | Net Increase (Decrease) | ||||||||||||||||||
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | 1,660 | 6,468 | (4,808 | ) | 2,125 | 4,195 | (2,070 | ) | ||||||||||||||||
EQ/PIMCO Ultra Short Bond Portfolio, Class IB | 1,351 | 1,289 | 62 | 1,301 | 1,590 | (289 | ) | |||||||||||||||||
EQ/Quality Bond PLUS Portfolio, Class IB | 1,126 | 1,512 | (386 | ) | 1,248 | 1,353 | (105 | ) | ||||||||||||||||
EQ/Small Company Index Portfolio, Class IA | 61 | 90 | (29 | ) | 49 | 97 | (48 | ) | ||||||||||||||||
EQ/Value Equity Portfolio, Class IB | 36 | 193 | (157 | ) | 52 | 141 | (89 | ) | ||||||||||||||||
Fidelity VIP Contrafund Portfolio, Service Class | 871 | 4,161 | (3,290 | ) | 945 | 5,847 | (4,902 | ) | ||||||||||||||||
Franklin Income VIP Fund, Class 2 | 681 | 2,621 | (1,940 | ) | 565 | 1,550 | (985 | ) | ||||||||||||||||
Franklin Rising Dividends VIP Fund, Class 2 | 42 | 197 | (155 | ) | 41 | 133 | (92 | ) | ||||||||||||||||
Invesco V.I. Diversified Dividend Fund, Series I | 150 | 258 | (108 | ) | 153 | 661 | (508 | ) | ||||||||||||||||
Invesco V.I. Global Core Equity Fund | 88 | 268 | (180 | ) | 84 | 179 | (95 | ) | ||||||||||||||||
Invesco V.I. Global Fund, Series II | 78 | 352 | (274 | ) | 217 | 293 | (76 | ) | ||||||||||||||||
Invesco V.I. Health Care Fund, Series I | 1,497 | 811 | 686 | 343 | 314 | 29 | ||||||||||||||||||
Invesco V.I. Technology Fund, Series I | 6 | 301 | (295 | ) | 5 | 10 | (5 | ) | ||||||||||||||||
Janus Henderson Balanced Fund, Class I | 349 | 1,751 | (1,402 | ) | 840 | 1,817 | (977 | ) | ||||||||||||||||
Janus Henderson Enterprise Fund, Class I | 992 | 8,702 | (7,710 | ) | 1,151 | 3,200 | (2,049 | ) | ||||||||||||||||
Janus Henderson Forty Fund, Class I | 358 | 871 | (513 | ) | 245 | 2,444 | (2,199 | ) | ||||||||||||||||
Janus Henderson Forty Fund, Class S | 74 | 259 | (185 | ) | 99 | 150 | (51 | ) | ||||||||||||||||
Janus Henderson Global Research Fund, Class I | 2,436 | 6,090 | (3,654 | ) | 2,468 | 7,754 | (5,286 | ) | ||||||||||||||||
Janus Henderson Overseas Fund, Class S | 314 | 867 | (553 | ) | 375 | 400 | (25 | ) | ||||||||||||||||
MFS Utilities Series, Initial Class | 119 | 386 | (267 | ) | 98 | 179 | (81 | ) | ||||||||||||||||
PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | 604 | 1,310 | (706 | ) | 636 | 425 | 211 | |||||||||||||||||
Note: Units may not foot/crossfoot due to rounding. |
42
5. | EXPENSES AND RELATED PARTY TRANSACTIONS |
The fees and charges below are the current expenses deducted by Subaccount from either the net unit value or from the Policy as a redemption of units. Fees and charges may vary based on factors such as product purchased, face amount, gender, age at issue of the insured, age at issue of the joint insured, insurance rate classification and smoking status, death benefit option selected, insured's age at time of face increase, and/or age of the Policy. The fees and charges are recorded, as applicable, to the respective Subaccount in the Separate Account. Redemption of units deductions are made to the individual Policies in accordance with the terms which govern each life insurance policy, as set forth in the Policy.
Expense Type | Range |
Mortality and Expense Risk Fee | |
This fee is assessed to reimburse the Company for assuming mortality and expense risks. The fee is deducted daily, assessed through a reduction of net unit values, and recorded as Mortality and expense risk in the Statements of Operations. | a daily fee amounting to a per annum aggregate of 0.35% - 0.75% of the unit value of each Subaccount |
Deductions for State Premium Taxes | |
This deduction is to comply with any applicable state premium and/or retaliatory taxes. The mandated amount is deducted from each premium payment when it is processed; this deduction in turn reduces Policy owners' net payments on the Statements of Changes in Net Assets. The Company reserves the right to increase or decrease the charge for taxes due to any change in tax law. | 0.00% - 0.80% of each premium payment |
Deductions for Federal Premium Taxes | |
This deduction is to reimburse the Company for federal tax expenses. The amount is deducted from each premium payment when it is processed; this deduction in turn reduces Policy owners' net payments on the Statements of Changes in Net Assets. The Company reserves the right to increase or decrease the charge for taxes due to any change in tax law or due to any change in costs incurred by the Company. | 0.00% - 1.50% of each premium payment |
Monthly Administrative Charge | |
This charge is assessed to reimburse the Company for expenses incurred in the administration of the Policy and the Separate Account. The charge is deducted monthly, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | Up to $7.50 |
Sales Charge | |
This charge is assessed to reimburse the Company for expenses incurred associated with the sales and distribution of the Policies. The charge is assessed on each premium payment received, deducted through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | 0.00% - 6.00% of each premium payment received
|
Loan Interest Rate Spread | |
The loan interest rate spread is the difference between the amount of interest charged on outstanding loan balances and the amount of interest credited to amounts held in the guaranteed account that secures the loans. The deduction is withdrawn annually, assessed through a redemption of units, and recorded net Policy owners’ benefits within the Statements of Changes in Net Assets. | 0.00% - 0.60% of the loan balance |
43
Expense Type | Range |
Partial Surrender Charge | |
This charge is assessed to reimburse the Company for the costs incurred when processing partial surrenders. The charge is deducted at surrender, assessed through a redemption of units, and recorded net with Policy owners’ benefits within the Statements of Changes in Net Assets. | $10 - $25 per partial surrender |
Full Surrender Charge | |
This charge is assessed to reimburse the Company for the costs incurred when processing full surrenders. The charge is deducted at surrender, assessed through a redemption of units, and recorded net with Policy owners’ benefits within the Statements of Changes in Net Assets. | Percentage varies based on a factor per $1,000 of the initial specified amount (or increases in the specified amount) |
Transfer Charge | |
Currently there is no charge assessed for transfers; however, the Company has reserved the right to charge for transfers as reimbursement for costs incurred when transferring funds. The charge is deducted upon transfer, assessed through a redemption of units, and recorded net with Policy owners’ benefits within the Statements of Changes in Net Assets. | $0 - $25 per transfer, after the first 12 transfers in any Policy year |
Cost of Insurance Charge (COI) | |
This charge is assessed to reimburse the Company for the cost of providing the death benefit. The charge is assessed on the Policy's monthly anniversary, assessed through a redemption of units, and recorded net with Policy owners’ benefits within the Statements of Changes in Net Assets. |
$0.01 - $83.33 per $1,000 of net amount at risk per month |
Illustration Projection Report | |
This charge is assessed to reimburse the Company for costs incurred from producing the requested illustration report which shows projected future benefits and Policy values. The charge can be deducted upon each request, assessed through a redemption of units, and recorded net with Policy owners’ benefits within the Statements of Changes in Net Assets. | $0 - $25 per report |
Monthly Administrative Charge per $1,000 Specified Amount | |
This charge is assessed during the first 4 to 15 Policy years after the initial purchase or the first 4 to 15 years from the date of any increase in specified amount, depending on the provisions of the Policy, to reimburse the Company for administrative costs. The charge is deducted monthly, assessed through a redemption of units, and recorded net with Policy owners’ benefits within the Statements of Changes in Net Assets. |
$0.06- $0.26 per $1,000 of specified amount |
The Company offers a loan privilege to certain Policy owners. Such Policy owners may obtain loans using the Policy’s value as the only security for the loan. Loans are subject to provisions of The Internal Revenue Code of 1986, as amended.
44
6. | FINANCIAL HIGHLIGHTS |
The Company sold a number of variable life products that are funded by the Separate Account. These products have unique combinations of features and expenses that are charged against the Policy owner’s account. Differences in the expense structures result in a variety of unit values, expense ratios and total returns. The following tables were developed by determining which products offered by the Company and funded by the Separate Account have the highest and lowest expense ratios. The summaries may not reflect or directly equate to the minimum and maximum Policy expenses offered by the Company, as Policy owners may not have selected all available and applicable Policy options for or during the periods presented.
A summary of the units outstanding, unit fair values, net assets for variable Policies, investment income ratios, the expense ratios, excluding expenses of the underlying Subaccounts, and total returns for each of the five years or periods ended December 31, 2023 is as follows:
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
1290 VT Equity Income Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 1 | $ | 30.05 | $ | 30.05 | $ | 15 | 2.20 | % | 0.60 | % | 0.60 | % | 4.78 | % | 4.78 | % | |||||||||||||||||||
2022 | 1 | 28.68 | 28.68 | 15 | 1.79 | % | 0.60 | % | 0.60 | % | 2.47 | % | 2.47 | % | ||||||||||||||||||||||
2021 | 1 | 27.99 | 27.99 | 15 | 1.87 | % | 0.60 | % | 0.60 | % | 25.63 | % | 25.63 | % | ||||||||||||||||||||||
2020 | 0 | * | 22.28 | 22.28 | 8 | 1.38 | % | 0.60 | % | 0.60 | % | (5.11 | )% | (5.11 | )% | |||||||||||||||||||||
2019 | 1 | 23.48 | 23.48 | 13 | 1.96 | % | 0.60 | % | 0.60 | % | 23.47 | % | 23.47 | % | ||||||||||||||||||||||
1290 VT Equity Income Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 39 | 39.69 | 34.99 | 1,458 | 2.10 | % | 0.35 | % | 0.75 | % | 5.05 | % | 4.63 | % | ||||||||||||||||||||||
2022 | 42 | 37.78 | 33.44 | 1,492 | 1.79 | % | 0.35 | % | 0.75 | % | 2.73 | % | 2.32 | % | ||||||||||||||||||||||
2021 | 42 | 36.78 | 32.69 | 1,476 | 1.54 | % | 0.35 | % | 0.75 | % | 25.95 | % | 25.44 | % | ||||||||||||||||||||||
2020 | 45 | 29.20 | 26.06 | 1,245 | 1.70 | % | 0.35 | % | 0.75 | % | (4.87 | )% | (5.25 | )% | ||||||||||||||||||||||
2019 | 48 | 30.70 | 27.50 | 1,411 | 2.36 | % | 0.35 | % | 0.75 | % | 23.78 | % | 23.29 | % | ||||||||||||||||||||||
1290 VT GAMCO Small Company Value Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 93 | 74.98 | 162.35 | 10,489 | 0.63 | % | 0.35 | % | 0.75 | % | 20.63 | % | 20.15 | % | ||||||||||||||||||||||
2022 | 97 | 62.16 | 135.12 | 8,974 | 0.50 | % | 0.35 | % | 0.75 | % | (10.98 | )% | (11.34 | )% | ||||||||||||||||||||||
2021 | 102 | 69.83 | 152.40 | 10,760 | 0.64 | % | 0.35 | % | 0.75 | % | 24.20 | % | 24.70 | % | ||||||||||||||||||||||
2020 | 111 | 56.00 | 122.70 | 9,524 | 0.64 | % | 0.35 | % | 0.75 | % | 8.69 | % | 9.13 | % | ||||||||||||||||||||||
2019 | 118 | 51.31 | 112.89 | 9,254 | 0.61 | % | 0.35 | % | 0.75 | % | 22.43 | % | 22.92 | % |
* The Subaccount has units and/or dollars that round to less than one thousand.
45
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
1290 VT Socially Responsible Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 10 | $ | 28.19 | $ | 32.90 | $ | 272 | 0.71 | % | 0.35 | % | 0.75 | % | 27.06 | % | 26.55 | % | |||||||||||||||||||
2022 | 11 | 22.19 | 26.00 | 239 | 0.57 | % | 0.35 | % | 0.75 | % | (22.36 | )% | (22.67 | )% | ||||||||||||||||||||||
2021 | 12 | 28.58 | 33.61 | 333 | 0.42 | % | 0.35 | % | 0.75 | % | 29.86 | % | 29.34 | % | ||||||||||||||||||||||
2020 | 15 | 22.01 | 25.99 | 325 | 0.70 | % | 0.35 | % | 0.75 | % | 19.54 | % | 19.06 | % | ||||||||||||||||||||||
2019 | 16 | 18.41 | 21.83 | 298 | 0.84 | % | 0.35 | % | 0.75 | % | 29.81 | % | 29.29 | % | ||||||||||||||||||||||
1290 VT Socially Responsible Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 1 | 40.58 | 40.58 | 24 | 0.75 | % | 0.65 | % | 0.65 | % | 26.68 | % | 26.68 | % | ||||||||||||||||||||||
2022 | 1 | 32.04 | 32.04 | 20 | 0.54 | % | 0.65 | % | 0.65 | % | (22.61 | )% | (22.61 | )% | ||||||||||||||||||||||
2021 | 1 | 41.40 | 41.40 | 32 | 0.47 | % | 0.65 | % | 0.65 | % | 29.47 | % | 29.47 | % | ||||||||||||||||||||||
2020 | 1 | 31.98 | 31.98 | 25 | 0.67 | % | 0.65 | % | 0.65 | % | 19.18 | % | 19.18 | % | ||||||||||||||||||||||
2019 | 1 | 26.83 | 26.83 | 26 | 0.86 | % | 0.65 | % | 0.65 | % | 29.42 | % | 29.42 | % | ||||||||||||||||||||||
BNY Mellon Stock Index Fund, Initial Shares | ||||||||||||||||||||||||||||||||||||
2023 | 69 | 45.96 | 40.91 | 2,929 | 1.42 | % | 0.35 | % | 0.75 | % | 25.49 | % | 24.99 | % | ||||||||||||||||||||||
2022 | 74 | 36.62 | 32.73 | 2,528 | 1.27 | % | 0.35 | % | 0.75 | % | (18.60 | )% | (18.93 | )% | ||||||||||||||||||||||
2021 | 79 | 44.99 | 40.38 | 3,336 | 1.13 | % | 0.35 | % | 0.75 | % | 27.45 | % | 27.96 | % | ||||||||||||||||||||||
2020 | 85 | 31.68 | 35.16 | 2,830 | 1.46 | % | 0.35 | % | 0.75 | % | 17.13 | % | 17.60 | % | ||||||||||||||||||||||
2019 | 141 | 27.05 | 29.90 | 3,989 | 1.74 | % | 0.35 | % | 0.75 | % | 30.20 | % | 30.73 | % | ||||||||||||||||||||||
EQ/AB Small Cap Growth Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 4 | 41.04 | 41.04 | 169 | 0.23 | % | 0.65 | % | 0.65 | % | 16.97 | % | 16.97 | % | ||||||||||||||||||||||
2022 | 5 | 35.08 | 35.08 | 170 | 0.11 | % | 0.65 | % | 0.65 | % | (28.92 | )% | (28.92 | )% | ||||||||||||||||||||||
2021 | 5 | 49.36 | 49.36 | 266 | 0.00 | % | 0.65 | % | 0.65 | % | 12.19 | % | 12.19 | % | ||||||||||||||||||||||
2020 | 7 | 44.00 | 44.00 | 290 | 0.07 | % | 0.65 | % | 0.65 | % | 35.18 | % | 35.18 | % | ||||||||||||||||||||||
2019 | 7 | 32.55 | 32.55 | 240 | 0.16 | % | 0.65 | % | 0.65 | % | 26.97 | % | 26.97 | % |
46
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Aggressive Allocation Portfolio, Class B | ||||||||||||||||||||||||||||||||||||
2023 | 12 | $ | 22.03 | $ | 20.62 | $ | 252 | 1.42 | % | 0.35 | % | 0.75 | % | 18.02 | % | 17.55 | % | |||||||||||||||||||
2022 | 12 | 18.66 | 17.54 | 210 | 0.84 | % | 0.35 | % | 0.75 | % | (18.64 | )% | (18.97 | )% | ||||||||||||||||||||||
2021 | 12 | 22.94 | 21.64 | 259 | 4.27 | % | 0.35 | % | 0.75 | % | 16.31 | % | 16.77 | % | ||||||||||||||||||||||
2020 | 12 | 18.61 | 19.65 | 223 | 2.62 | % | 0.35 | % | 0.75 | % | 14.54 | % | 14.99 | % | ||||||||||||||||||||||
2019 | 12 | 16.25 | 17.08 | 195 | 1.61 | % | 0.35 | % | 0.75 | % | 23.56 | % | 24.05 | % | ||||||||||||||||||||||
EQ/All Asset Growth Allocation Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 149 | 21.44 | 29.98 | 4,326 | 1.86 | % | 0.35 | % | 0.75 | % | 13.76 | % | 13.31 | % | ||||||||||||||||||||||
2022 | 155 | 18.85 | 26.46 | 3,876 | 1.22 | % | 0.35 | % | 0.75 | % | (14.77 | )% | (15.11 | )% | ||||||||||||||||||||||
2021 | 164 | 22.11 | 31.17 | 4,851 | 3.91 | % | 0.35 | % | 0.75 | % | 10.10 | % | 10.54 | % | ||||||||||||||||||||||
2020 | 178 | 19.54 | 28.31 | 4,768 | 1.44 | % | 0.35 | % | 0.75 | % | 11.45 | % | 11.89 | % | ||||||||||||||||||||||
2019 | 193 | 17.51 | 25.41 | 4,617 | 1.74 | % | 0.35 | % | 0.75 | % | 18.21 | % | 18.68 | % | ||||||||||||||||||||||
EQ/Capital Group Research Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 91 | 43.52 | 50.08 | 3,381 | 0.35 | % | 0.35 | % | 0.75 | % | 22.56 | % | 22.07 | % | ||||||||||||||||||||||
2022 | 95 | 35.51 | 41.02 | 2,930 | 0.16 | % | 0.35 | % | 0.75 | % | (19.25 | )% | (19.57 | )% | ||||||||||||||||||||||
2021 | 94 | 43.97 | 51.01 | 3,472 | 0.00 | % | 0.35 | % | 0.75 | % | 22.14 | % | 22.63 | % | ||||||||||||||||||||||
2020 | 106 | 12.96 | 48.97 | 3,243 | 0.16 | % | 0.35 | % | 0.75 | % | - | - | ||||||||||||||||||||||||
2019 | 27 | 29.19 | 39.86 | 836 | 0.59 | % | 0.35 | % | 0.75 | % | 31.89 | % | 32.42 | % | ||||||||||||||||||||||
EQ/Conservative Allocation Portfolio, Class B | ||||||||||||||||||||||||||||||||||||
2023 | 2 | 14.17 | 13.26 | 24 | 2.30 | % | 0.35 | % | 0.75 | % | 7.57 | % | 7.15 | % | ||||||||||||||||||||||
2022 | 2 | 13.18 | 12.38 | 25 | 0.76 | % | 0.35 | % | 0.75 | % | (12.90 | )% | (13.25 | )% | ||||||||||||||||||||||
2021 | 5 | 15.13 | 14.27 | 75 | 1.32 | % | 0.35 | % | 0.75 | % | 1.94 | % | 2.35 | % | ||||||||||||||||||||||
2020 | 6 | 14.00 | 14.78 | 87 | 1.76 | % | 0.35 | % | 0.75 | % | 6.51 | % | 6.94 | % | ||||||||||||||||||||||
2019 | 7 | 13.14 | 13.82 | 87 | 1.65 | % | 0.35 | % | 0.75 | % | 8.42 | % | 8.86 | % |
47
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Conservative-Plus Allocation Portfolio, Class B | ||||||||||||||||||||||||||||||||||||
2023 | 0 | * | $ | 15.26 | $ | 15.26 | $ | 1 | 2.69 | % | 0.75 | % | 0.75 | % | 10.10 | % | 10.10 | % | ||||||||||||||||||
2022 | 0 | * | 13.86 | 13.86 | 0 | * | 1.61 | % | 0.75 | % | 0.75 | % | (15.19 | )% | (15.19 | )% | ||||||||||||||||||||
2021 | 0 | * | 16.34 | 16.34 | - | 1.70 | % | 0.75 | % | 0.75 | % | 5.94 | % | 5.94 | % | |||||||||||||||||||||
2020 | 0 | * | 15.43 | 15.43 | 1 | 2.24 | % | 0.75 | % | 0.75 | % | 9.17 | % | 9.17 | % | |||||||||||||||||||||
2019 | 0 | * | 14.13 | 14.13 | - | 1.38 | % | 0.75 | % | 0.75 | % | 12.63 | % | 12.63 | % | |||||||||||||||||||||
EQ/Core Bond Index Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 93 | 13.38 | 11.49 | 1,314 | 2.11 | % | 0.35 | % | 0.75 | % | 4.19 | % | 3.78 | % | ||||||||||||||||||||||
2022 | 95 | 12.84 | 11.08 | 1,307 | 1.59 | % | 0.35 | % | 0.75 | % | (9.06 | )% | (9.42 | )% | ||||||||||||||||||||||
2021 | 96 | 14.12 | 12.23 | 1,457 | 1.37 | % | 0.35 | % | 0.75 | % | (2.83 | )% | (2.44 | )% | ||||||||||||||||||||||
2020 | 102 | 12.58 | 17.55 | 1,599 | 1.39 | % | 0.35 | % | 0.75 | % | 5.27 | % | 5.70 | % | ||||||||||||||||||||||
2019 | 120 | 11.95 | 16.60 | 1,785 | 1.94 | % | 0.35 | % | 0.75 | % | 5.47 | % | 5.89 | % | ||||||||||||||||||||||
EQ/Core Plus Bond Portfolio, Class A | ||||||||||||||||||||||||||||||||||||
2023 | 13 | 13.95 | 15.79 | 201 | 2.40 | % | 0.35 | % | 0.65 | % | 4.16 | % | 3.85 | % | ||||||||||||||||||||||
2022 | 13 | 13.39 | 15.20 | 191 | 2.46 | % | 0.35 | % | 0.65 | % | (13.24 | )% | (13.50 | )% | ||||||||||||||||||||||
2021 | 12 | 15.43 | 17.57 | 204 | 1.28 | % | 0.35 | % | 0.65 | % | (2.32 | )% | (2.03 | )% | ||||||||||||||||||||||
2020 | 13 | 15.75 | 18.46 | 225 | 2.05 | % | 0.35 | % | 0.65 | % | 14.12 | % | 14.46 | % | ||||||||||||||||||||||
2019 | 14 | 13.76 | 16.13 | 213 | 2.09 | % | 0.35 | % | 0.65 | % | 6.22 | % | 6.54 | % | ||||||||||||||||||||||
EQ/Global Equity Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 2 | 58.55 | 58.55 | 88 | 0.88 | % | 0.65 | % | 0.65 | % | 20.55 | % | 20.55 | % | ||||||||||||||||||||||
2022 | 2 | 48.57 | 48.57 | 77 | 0.32 | % | 0.65 | % | 0.65 | % | (21.46 | )% | (21.46 | )% | ||||||||||||||||||||||
2021 | 2 | 61.84 | 61.84 | 101 | 0.92 | % | 0.65 | % | 0.65 | % | 15.14 | % | 15.14 | % | ||||||||||||||||||||||
2020 | 2 | 53.71 | 53.71 | 88 | 0.55 | % | 0.65 | % | 0.65 | % | 13.54 | % | 13.54 | % | ||||||||||||||||||||||
2019 | 2 | 47.30 | 47.30 | 93 | 1.41 | % | 0.65 | % | 0.65 | % | 24.46 | % | 24.46 | % |
* The Subaccount has units and/or dollars that round to less than one thousand.
48
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Intermediate Government Bond Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 41 | $ | 12.98 | $ | 16.51 | $ | 572 | 2.71 | % | 0.35 | % | 0.75 | % | 3.51 | % | 3.10 | % | |||||||||||||||||||
2022 | 42 | 12.54 | 16.01 | 567 | 0.92 | % | 0.35 | % | 0.75 | % | (7.97 | )% | (8.33 | )% | ||||||||||||||||||||||
2021 | 43 | 13.63 | 17.46 | 635 | 0.70 | % | 0.35 | % | 0.75 | % | (2.86 | )% | (2.47 | )% | ||||||||||||||||||||||
2020 | 44 | 13.97 | 17.98 | 677 | 0.96 | % | 0.35 | % | 0.75 | % | 3.52 | % | 3.94 | % | ||||||||||||||||||||||
2019 | 47 | 13.44 | 17.37 | 693 | 1.57 | % | 0.35 | % | 0.75 | % | 3.39 | % | 3.80 | % | ||||||||||||||||||||||
EQ/Janus Enterprise Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 26 | 44.66 | 54.66 | 1,132 | 0.03 | % | 0.35 | % | 0.65 | % | 16.61 | % | 16.26 | % | ||||||||||||||||||||||
2022 | 28 | 38.30 | 47.02 | 1,062 | 0.00 | % | 0.35 | % | 0.65 | % | (16.86 | )% | (17.11 | )% | ||||||||||||||||||||||
2021 | 29 | 46.06 | 56.72 | 1,331 | 0.09 | % | 0.35 | % | 0.65 | % | 16.08 | % | 16.43 | % | ||||||||||||||||||||||
2020 | 31 | 31.46 | 66.62 | 1,216 | 0.00 | % | 0.35 | % | 0.65 | % | 18.05 | % | 18.40 | % | ||||||||||||||||||||||
2019 | 34 | 26.65 | 56.27 | 1,104 | 0.02 | % | 0.35 | % | 0.65 | % | 35.58 | % | 35.98 | % | ||||||||||||||||||||||
EQ/JPMorgan Growth Allocation Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 149 | 44.39 | 59.86 | 8,069 | 0.00 | % | 0.35 | % | 0.75 | % | 45.81 | % | 45.23 | % | ||||||||||||||||||||||
2022 | 155 | 30.44 | 41.22 | 5,616 | 0.00 | % | 0.35 | % | 0.75 | % | (38.85 | )% | (39.10 | )% | ||||||||||||||||||||||
2021 | 167 | 49.78 | 67.68 | 9,914 | 0.00 | % | 0.35 | % | 0.75 | % | 12.98 | % | 13.43 | % | ||||||||||||||||||||||
2020 | 181 | 35.07 | 59.90 | 9,542 | 0.00 | % | 0.35 | % | 0.75 | % | 35.53 | % | 36.08 | % | ||||||||||||||||||||||
2019 | 197 | 25.85 | 44.20 | 7,545 | 0.00 | % | 0.35 | % | 0.75 | % | 30.12 | % | 30.64 | % | ||||||||||||||||||||||
EQ/Large Cap Growth Managed Volatility Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 35 | 49.83 | 46.31 | 1,649 | 0.41 | % | 0.35 | % | 0.75 | % | 38.50 | % | 37.95 | % | ||||||||||||||||||||||
2022 | 37 | 35.98 | 33.57 | 1,278 | 0.06 | % | 0.35 | % | 0.75 | % | (30.82 | )% | (31.10 | )% | ||||||||||||||||||||||
2021 | 40 | 52.01 | 48.73 | 1,973 | 0.00 | % | 0.35 | % | 0.75 | % | 23.45 | % | 23.94 | % | ||||||||||||||||||||||
2020 | 44 | 39.47 | 41.97 | 1,770 | 0.08 | % | 0.35 | % | 0.75 | % | 31.03 | % | 31.55 | % | ||||||||||||||||||||||
2019 | 53 | 30.13 | 31.90 | 1,623 | 0.46 | % | 0.35 | % | 0.75 | % | 32.72 | % | 33.25 | % |
49
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Large Cap Value Index Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 56 | $ | 38.46 | $ | 37.12 | $ | 2,082 | 1.63 | % | 0.35 | % | 0.65 | % | 10.34 | % | 10.02 | % | |||||||||||||||||||
2022 | 58 | 34.85 | 33.74 | 1,989 | 1.42 | % | 0.35 | % | 0.65 | % | (8.54 | )% | (8.82 | )% | ||||||||||||||||||||||
2021 | 58 | 38.11 | 37.00 | 2,195 | 1.39 | % | 0.35 | % | 0.65 | % | 23.47 | % | 23.85 | % | ||||||||||||||||||||||
2020 | 51 | 29.20 | 32.54 | 1,568 | 1.64 | % | 0.35 | % | 0.65 | % | 1.55 | % | 1.85 | % | ||||||||||||||||||||||
2019 | 57 | 28.75 | 31.95 | 1,700 | 2.31 | % | 0.35 | % | 0.65 | % | 24.81 | % | 25.19 | % | ||||||||||||||||||||||
EQ/Large Cap Value Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 9 | 35.50 | 28.05 | 277 | 1.68 | % | 0.35 | % | 0.65 | % | 13.57 | % | 13.24 | % | ||||||||||||||||||||||
2022 | 9 | 31.25 | 24.77 | 245 | 1.33 | % | 0.35 | % | 0.65 | % | (11.89 | )% | (12.16 | )% | ||||||||||||||||||||||
2021 | 8 | 35.47 | 28.30 | 251 | 0.98 | % | 0.35 | % | 0.65 | % | 24.02 | % | 24.39 | % | ||||||||||||||||||||||
2020 | 8 | 22.74 | 28.52 | 211 | 1.44 | % | 0.35 | % | 0.65 | % | 5.00 | % | 5.31 | % | ||||||||||||||||||||||
2019 | 8 | 21.66 | 27.08 | 206 | 1.97 | % | 0.35 | % | 0.65 | % | 24.63 | % | 25.00 | % | ||||||||||||||||||||||
EQ/Loomis Sayles Growth Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 148 | 48.17 | 44.43 | 7,382 | 0.00 | % | 0.35 | % | 0.75 | % | 43.24 | % | 42.67 | % | ||||||||||||||||||||||
2022 | 155 | 33.63 | 31.14 | 5,451 | 0.00 | % | 0.35 | % | 0.75 | % | (28.23 | )% | (28.51 | )% | ||||||||||||||||||||||
2021 | 162 | 46.85 | 43.56 | 7,944 | 0.00 | % | 0.35 | % | 0.75 | % | 15.31 | % | 15.77 | % | ||||||||||||||||||||||
2020 | 172 | 37.78 | 57.02 | 7,307 | 0.00 | % | 0.35 | % | 0.75 | % | 29.94 | % | 30.46 | % | ||||||||||||||||||||||
2019 | 192 | 29.07 | 45.58 | 6,268 | 0.03 | % | 0.35 | % | 0.75 | % | 30.36 | % | 30.88 | % | ||||||||||||||||||||||
EQ/MFS International Growth Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 65 | 21.29 | 31.95 | 1,777 | 1.23 | % | 0.35 | % | 0.75 | % | 13.98 | % | 13.53 | % | ||||||||||||||||||||||
2022 | 68 | 18.68 | 28.14 | 1,607 | 0.79 | % | 0.35 | % | 0.75 | % | (15.48 | )% | (15.82 | )% | ||||||||||||||||||||||
2021 | 71 | 22.10 | 33.43 | 1,999 | 0.23 | % | 0.35 | % | 0.75 | % | 8.61 | % | 9.04 | % | ||||||||||||||||||||||
2020 | 75 | 20.27 | 30.78 | 1,949 | 0.38 | % | 0.35 | % | 0.75 | % | 14.48 | % | 14.94 | % | ||||||||||||||||||||||
2019 | 102 | 17.63 | 26.88 | 2,200 | 1.34 | % | 0.35 | % | 0.75 | % | 26.29 | % | 26.80 | % |
50
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Mid Cap Index Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 16 | $ | 47.98 | $ | 47.10 | $ | 771 | 1.04 | % | 0.35 | % | 0.65 | % | 15.35 | % | 15.00 | % | |||||||||||||||||||
2022 | 16 | 41.60 | 40.95 | 657 | 0.91 | % | 0.35 | % | 0.65 | % | (13.90 | )% | (14.16 | )% | ||||||||||||||||||||||
2021 | 16 | 48.32 | 47.71 | 788 | 0.65 | % | 0.35 | % | 0.65 | % | 23.08 | % | 23.45 | % | ||||||||||||||||||||||
2020 | 17 | 38.76 | 39.80 | 660 | 0.91 | % | 0.35 | % | 0.65 | % | 12.12 | % | 12.46 | % | ||||||||||||||||||||||
2019 | 19 | 34.57 | 35.39 | 662 | 1.15 | % | 0.35 | % | 0.65 | % | 24.57 | % | 24.94 | % | ||||||||||||||||||||||
EQ/Mid Cap Value Managed Volatility Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 51 | 37.86 | 36.27 | 1,855 | 1.42 | % | 0.35 | % | 0.65 | % | 12.80 | % | 12.46 | % | ||||||||||||||||||||||
2022 | 55 | 33.57 | 32.25 | 1,784 | 0.90 | % | 0.35 | % | 0.65 | % | (14.86 | )% | (15.12 | )% | ||||||||||||||||||||||
2021 | 56 | 39.43 | 37.99 | 2,167 | 0.57 | % | 0.35 | % | 0.65 | % | 26.58 | % | 26.96 | % | ||||||||||||||||||||||
2020 | 62 | 30.01 | 31.05 | 1,894 | 0.94 | % | 0.35 | % | 0.65 | % | 4.29 | % | 4.60 | % | ||||||||||||||||||||||
2019 | 72 | 28.78 | 29.69 | 2,081 | 1.45 | % | 0.35 | % | 0.65 | % | 25.77 | % | 26.14 | % | ||||||||||||||||||||||
EQ/Moderate Allocation Portfolio, Class B | ||||||||||||||||||||||||||||||||||||
2023 | 9 | 17.05 | 15.96 | 152 | 1.98 | % | 0.35 | % | 0.75 | % | 11.96 | % | 11.51 | % | ||||||||||||||||||||||
2022 | 9 | 15.23 | 14.31 | 137 | 1.06 | % | 0.35 | % | 0.75 | % | (15.76 | )% | (16.10 | )% | ||||||||||||||||||||||
2021 | 12 | 18.08 | 17.06 | 211 | 2.47 | % | 0.35 | % | 0.75 | % | 7.61 | % | 8.04 | % | ||||||||||||||||||||||
2020 | 14 | 15.85 | 16.73 | 231 | 2.13 | % | 0.35 | % | 0.75 | % | 10.43 | % | 10.87 | % | ||||||||||||||||||||||
2019 | 15 | 14.35 | 15.09 | 215 | 1.66 | % | 0.35 | % | 0.75 | % | 14.67 | % | 15.13 | % | ||||||||||||||||||||||
EQ/Moderate-Plus Allocation Portfolio, Class B | ||||||||||||||||||||||||||||||||||||
2023 | 15 | 19.70 | 18.44 | 278 | 1.58 | % | 0.35 | % | 0.75 | % | 14.92 | % | 14.47 | % | ||||||||||||||||||||||
2022 | 17 | 17.14 | 16.11 | 276 | 0.97 | % | 0.35 | % | 0.75 | % | (17.35 | )% | (17.68 | )% | ||||||||||||||||||||||
2021 | 18 | 20.74 | 19.57 | 369 | 3.32 | % | 0.35 | % | 0.75 | % | 11.83 | % | 12.28 | % | ||||||||||||||||||||||
2020 | 22 | 17.50 | 18.47 | 388 | 2.33 | % | 0.35 | % | 0.75 | % | 13.25 | % | 13.70 | % | ||||||||||||||||||||||
2019 | 23 | 15.45 | 16.25 | 365 | 1.59 | % | 0.35 | % | 0.75 | % | 19.10 | % | 19.57 | % |
51
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Money Market Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 192 | $ | 11.72 | $ | 10.89 | $ | 2,043 | 4.36 | % | 0.35 | % | 0.75 | % | 4.09 | % | 3.67 | % | |||||||||||||||||||
2022 | 206 | 11.26 | 10.51 | 2,224 | 1.07 | % | 0.35 | % | 0.75 | % | 0.74 | % | 0.34 | % | ||||||||||||||||||||||
2021 | 206 | 11.18 | 10.47 | 2,218 | 0.00 | % | 0.35 | % | 0.75 | % | (0.56 | )% | (0.16 | )% | ||||||||||||||||||||||
2020 | 221 | 10.53 | 11.20 | 2,388 | 0.20 | % | 0.35 | % | 0.75 | % | (0.55 | )% | (0.15 | )% | ||||||||||||||||||||||
2019 | 240 | 10.59 | 11.22 | 2,603 | 1.47 | % | 0.35 | % | 0.75 | % | 0.76 | % | 1.16 | % | ||||||||||||||||||||||
EQ/Morgan Stanley Small Cap Growth Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 79 | 14.34 | 35.99 | 1,142 | 0.00 | % | 0.35 | % | 0.75 | % | 33.93 | % | 33.40 | % | ||||||||||||||||||||||
2022 | 84 | 10.70 | 26.98 | 917 | 0.01 | % | 0.35 | % | 0.75 | % | (44.32 | )% | (44.54 | )% | ||||||||||||||||||||||
2021 | 86 | 19.22 | 48.65 | 1,695 | 0.00 | % | 0.35 | % | 0.75 | % | 1.91 | % | 2.31 | % | ||||||||||||||||||||||
2020 | 100 | 18.75 | 47.74 | 1,955 | 0.00 | % | 0.35 | % | 0.75 | % | 74.75 | % | 75.14 | % | ||||||||||||||||||||||
EQ/PIMCO Ultra Short Bond Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 19 | 13.45 | 13.86 | 254 | 4.07 | % | 0.35 | % | 0.65 | % | 5.26 | % | 4.95 | % | ||||||||||||||||||||||
2022 | 19 | 12.77 | 13.20 | 245 | 1.36 | % | 0.35 | % | 0.65 | % | (0.95 | )% | (1.25 | )% | ||||||||||||||||||||||
2021 | 19 | 12.90 | 13.37 | 252 | 0.39 | % | 0.35 | % | 0.65 | % | (1.10 | )% | (0.80 | )% | ||||||||||||||||||||||
2020 | 22 | 13.00 | 13.52 | 290 | 0.76 | % | 0.35 | % | 0.65 | % | 0.46 | % | 0.76 | % | ||||||||||||||||||||||
2019 | 22 | 12.90 | 13.46 | 290 | 2.11 | % | 0.35 | % | 0.65 | % | 1.89 | % | 2.19 | % | ||||||||||||||||||||||
EQ/Quality Bond PLUS Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 26 | 17.86 | 19.85 | 476 | 2.16 | % | 0.35 | % | 0.75 | % | 3.86 | % | 3.44 | % | ||||||||||||||||||||||
2022 | 26 | 17.20 | 19.19 | 466 | 0.66 | % | 0.35 | % | 0.75 | % | (10.52 | )% | (10.88 | )% | ||||||||||||||||||||||
2021 | 26 | 19.22 | 21.54 | 526 | 0.76 | % | 0.35 | % | 0.75 | % | (2.85 | )% | (2.46 | )% | ||||||||||||||||||||||
2020 | 27 | 19.16 | 22.17 | 550 | 1.27 | % | 0.35 | % | 0.75 | % | 5.18 | % | 5.60 | % | ||||||||||||||||||||||
2019 | 32 | 18.20 | 21.07 | 626 | 1.66 | % | 0.35 | % | 0.75 | % | 4.84 | % | 5.26 | % |
52
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
EQ/Small Company Index Portfolio, Class IA | ||||||||||||||||||||||||||||||||||||
2023 | 3 | $ | 48.12 | $ | 48.12 | $ | 138 | 1.18 | % | 0.35 | % | 0.35 | % | 16.40 | % | 16.40 | % | |||||||||||||||||||
2022 | 3 | 41.34 | 41.34 | 121 | 0.86 | % | 0.35 | % | 0.35 | % | (20.09 | )% | (20.09 | )% | ||||||||||||||||||||||
2021 | 3 | 51.73 | 51.73 | 155 | 0.66 | % | 0.35 | % | 0.35 | % | 14.66 | % | 14.66 | % | ||||||||||||||||||||||
2020 | 3 | 45.12 | 45.12 | 145 | 0.90 | % | 0.35 | % | 0.35 | % | 19.31 | % | 19.31 | % | ||||||||||||||||||||||
2019 | 3 | 37.81 | 37.81 | 121 | 1.15 | % | 0.35 | % | 0.35 | % | 24.78 | % | 24.78 | % | ||||||||||||||||||||||
EQ/Value Equity Portfolio, Class IB | ||||||||||||||||||||||||||||||||||||
2023 | 5 | 37.67 | 37.67 | 182 | 1.18 | % | 0.35 | % | 0.35 | % | 19.10 | % | 19.10 | % | ||||||||||||||||||||||
2022 | 5 | 31.63 | 31.63 | 160 | 1.01 | % | 0.35 | % | 0.35 | % | (15.40 | )% | (15.40 | )% | ||||||||||||||||||||||
2021 | 5 | 37.38 | 37.38 | 193 | 0.71 | % | 0.35 | % | 0.35 | % | 24.93 | % | 24.93 | % | ||||||||||||||||||||||
2020 | 5 | 29.92 | 29.92 | 156 | 1.67 | % | 0.35 | % | 0.35 | % | 2.46 | % | 2.46 | % | ||||||||||||||||||||||
2019 | 5 | 29.20 | 29.20 | 159 | 1.90 | % | 0.35 | % | 0.35 | % | 23.00 | % | 23.00 | % | ||||||||||||||||||||||
Fidelity VIP Contrafund Portfolio, Service Class | ||||||||||||||||||||||||||||||||||||
2023 | 75 | 62.67 | 57.48 | 4,434 | 0.40 | % | 0.35 | % | 0.75 | % | 32.87 | % | 32.35 | % | ||||||||||||||||||||||
2022 | 78 | 47.17 | 43.43 | 3,492 | 0.37 | % | 0.35 | % | 0.75 | % | (26.64 | )% | (26.93 | )% | ||||||||||||||||||||||
2021 | 83 | 64.30 | 59.44 | 5,082 | 0.05 | % | 0.35 | % | 0.75 | % | 26.76 | % | 27.26 | % | ||||||||||||||||||||||
2020 | 88 | 46.89 | 50.52 | 4,258 | 0.14 | % | 0.35 | % | 0.75 | % | 29.46 | % | 29.97 | % | ||||||||||||||||||||||
2019 | 97 | 36.22 | 38.87 | 3,618 | 0.37 | % | 0.35 | % | 0.75 | % | 30.47 | % | 30.99 | % | ||||||||||||||||||||||
Franklin Income VIP Fund, Class 2 | ||||||||||||||||||||||||||||||||||||
2023 | 47 | 33.04 | 20.72 | 1,149 | 5.13 | % | 0.35 | % | 0.65 | % | 8.24 | % | 7.92 | % | ||||||||||||||||||||||
2022 | 49 | 30.53 | 19.20 | 1,124 | 4.80 | % | 0.35 | % | 0.65 | % | (5.80 | )% | (6.09 | )% | ||||||||||||||||||||||
2021 | 50 | 32.41 | 20.44 | 1,220 | 4.76 | % | 0.35 | % | 0.65 | % | 16.00 | % | 16.35 | % | ||||||||||||||||||||||
2020 | 54 | 17.62 | 27.85 | 1,136 | 5.39 | % | 0.35 | % | 0.65 | % | 0.04 | % | 0.34 | % | ||||||||||||||||||||||
2019 | 57 | 17.62 | 27.76 | 1,190 | 5.70 | % | 0.35 | % | 0.65 | % | 15.31 | % | 15.65 | % |
53
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
Franklin Rising Dividends VIP Fund, Class 2 | ||||||||||||||||||||||||||||||||||||
2023 | 3 | $ | 55.10 | $ | 55.10 | $ | 142 | 0.92 | % | 0.35 | % | 0.35 | % | 11.68 | % | 11.68 | % | |||||||||||||||||||
2022 | 3 | 49.34 | 49.34 | 137 | 0.75 | % | 0.35 | % | 0.35 | % | (10.88 | )% | (10.88 | )% | ||||||||||||||||||||||
2021 | 3 | 55.36 | 55.36 | 159 | 0.83 | % | 0.35 | % | 0.35 | % | 26.35 | % | 26.35 | % | ||||||||||||||||||||||
2020 | 3 | 43.82 | 43.82 | 136 | 1.13 | % | 0.35 | % | 0.35 | % | 15.57 | % | 15.57 | % | ||||||||||||||||||||||
2019 | 3 | 37.92 | 37.92 | 104 | 1.32 | % | 0.35 | % | 0.35 | % | 28.78 | % | 28.78 | % | ||||||||||||||||||||||
Invesco V.I. Diversified Dividend Fund, Series I | ||||||||||||||||||||||||||||||||||||
2023 | 6 | 18.88 | 18.88 | 120 | 2.03 | % | 0.65 | % | 0.65 | % | 8.34 | % | 8.34 | % | ||||||||||||||||||||||
2022 | 7 | 17.42 | 17.42 | 114 | 1.80 | % | 0.65 | % | 0.65 | % | (2.32 | )% | (2.32 | )% | ||||||||||||||||||||||
2021 | 7 | 17.84 | 17.84 | 126 | 2.21 | % | 0.65 | % | 0.65 | % | 18.12 | % | 18.12 | % | ||||||||||||||||||||||
2020 | 7 | 15.10 | 15.10 | 108 | 2.82 | % | 0.65 | % | 0.65 | % | (0.51 | )% | (0.51 | )% | ||||||||||||||||||||||
2019 | 7 | 15.18 | 15.18 | 110 | 2.90 | % | 0.65 | % | 0.65 | % | 24.28 | % | 24.28 | % | ||||||||||||||||||||||
Invesco V.I. Global Core Equity Fund | ||||||||||||||||||||||||||||||||||||
2023 | 5 | 23.84 | 23.84 | 113 | 0.58 | % | 0.65 | % | 0.65 | % | 20.94 | % | 20.94 | % | ||||||||||||||||||||||
2022 | 5 | 19.71 | 19.71 | 99 | 0.33 | % | 0.65 | % | 0.65 | % | (22.38 | )% | (22.38 | )% | ||||||||||||||||||||||
2021 | 5 | 25.40 | 25.40 | 130 | 0.97 | % | 0.65 | % | 0.65 | % | 15.22 | % | 15.22 | % | ||||||||||||||||||||||
2020 | 6 | 22.04 | 22.04 | 122 | 1.22 | % | 0.65 | % | 0.65 | % | 12.49 | % | 12.49 | % | ||||||||||||||||||||||
2019 | 6 | 19.59 | 19.59 | 113 | 1.44 | % | 0.65 | % | 0.65 | % | 24.39 | % | 24.39 | % | ||||||||||||||||||||||
Invesco V.I. Global Fund, Series II | ||||||||||||||||||||||||||||||||||||
2023 | 9 | 52.66 | 52.66 | 489 | 0.00 | % | 0.35 | % | 0.35 | % | 33.98 | % | 33.98 | % | ||||||||||||||||||||||
2022 | 10 | 39.30 | 39.30 | 381 | 0.00 | % | 0.35 | % | 0.35 | % | (32.17 | )% | (32.17 | )% | ||||||||||||||||||||||
2021 | 10 | 57.95 | 57.95 | 568 | 0.00 | % | 0.35 | % | 0.35 | % | 14.77 | % | 14.77 | % | ||||||||||||||||||||||
2020 | 10 | 50.49 | 50.49 | 515 | 0.41 | % | 0.35 | % | 0.35 | % | 26.89 | % | 26.89 | % | ||||||||||||||||||||||
2019 | 10 | 39.79 | 39.79 | 417 | 0.64 | % | 0.35 | % | 0.35 | % | 30.99 | % | 30.99 | % |
54
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
Invesco V.I. Health Care Fund, Series I | ||||||||||||||||||||||||||||||||||||
2023 | 7 | $ | 40.74 | $ | 40.74 | $ | 265 | 0.00 | % | 0.65 | % | 0.65 | % | 2.36 | % | 2.36 | % | |||||||||||||||||||
2022 | 6 | 39.80 | 39.80 | 236 | 0.00 | % | 0.65 | % | 0.65 | % | (13.88 | )% | (13.88 | )% | ||||||||||||||||||||||
2021 | 6 | 46.21 | 46.21 | 273 | 0.21 | % | 0.65 | % | 0.65 | % | 11.57 | % | 11.57 | % | ||||||||||||||||||||||
2020 | 6 | 41.42 | 41.42 | 244 | 0.29 | % | 0.65 | % | 0.65 | % | 13.72 | % | 13.72 | % | ||||||||||||||||||||||
2019 | 9 | 36.42 | 39.85 | 323 | 0.05 | % | 0.35 | % | 0.65 | % | 31.65 | % | 32.04 | % | ||||||||||||||||||||||
Invesco V.I. Technology Fund, Series I | ||||||||||||||||||||||||||||||||||||
2023 | 0 | * | 43.27 | 43.27 | 19 | 0.00 | % | 0.65 | % | 0.65 | % | 45.99 | % | 45.99 | % | |||||||||||||||||||||
2022 | 1 | 29.64 | 29.64 | 22 | 0.00 | % | 0.65 | % | 0.65 | % | (40.34 | )% | (40.34 | )% | ||||||||||||||||||||||
2021 | 1 | 49.68 | 49.68 | 37 | 0.00 | % | 0.65 | % | 0.65 | % | 13.67 | % | 13.67 | % | ||||||||||||||||||||||
2020 | 1 | 43.70 | 43.70 | 33 | 0.00 | % | 0.65 | % | 0.65 | % | 45.17 | % | 45.17 | % | ||||||||||||||||||||||
2019 | 1 | 30.10 | 30.10 | 25 | 0.00 | % | 0.65 | % | 0.65 | % | 35.00 | % | 35.00 | % | ||||||||||||||||||||||
Janus Henderson Balanced Fund, Class I | ||||||||||||||||||||||||||||||||||||
2023 | 23 | 46.58 | 43.66 | 990 | 2.10 | % | 0.35 | % | 0.75 | % | 15.01 | % | 14.55 | % | ||||||||||||||||||||||
2022 | 25 | 40.50 | 38.11 | 926 | 1.33 | % | 0.35 | % | 0.75 | % | (16.69 | )% | (17.02 | )% | ||||||||||||||||||||||
2021 | 26 | 48.62 | 45.93 | 1,160 | 0.90 | % | 0.35 | % | 0.75 | % | 16.32 | % | 16.79 | % | ||||||||||||||||||||||
2020 | 28 | 38.57 | 41.63 | 1,074 | 1.76 | % | 0.35 | % | 0.75 | % | 13.46 | % | 13.91 | % | ||||||||||||||||||||||
2019 | 30 | 33.96 | 36.55 | 1,024 | 1.95 | % | 0.35 | % | 0.75 | % | 21.67 | % | 22.16 | % | ||||||||||||||||||||||
Janus Henderson Enterprise Fund, Class I | ||||||||||||||||||||||||||||||||||||
2023 | 68 | 30.69 | 61.35 | 2,490 | 0.16 | % | 0.35 | % | 0.75 | % | 17.66 | % | 17.19 | % | ||||||||||||||||||||||
2022 | 75 | 26.09 | 52.35 | 2,360 | 0.35 | % | 0.35 | % | 0.75 | % | (16.23 | )% | (16.57 | )% | ||||||||||||||||||||||
2021 | 78 | 31.14 | 62.75 | 2,906 | 0.31 | % | 0.35 | % | 0.75 | % | 15.96 | % | 16.42 | % | ||||||||||||||||||||||
2020 | 82 | 26.75 | 54.11 | 2,609 | 0.06 | % | 0.35 | % | 0.75 | % | 18.58 | % | 19.06 | % | ||||||||||||||||||||||
2019 | 88 | 22.47 | 45.63 | 2,371 | 0.21 | % | 0.35 | % | 0.75 | % | 34.47 | % | 35.01 | % |
* The Subaccount has units and/or dollars that round to less than one thousand.
55
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
Janus Henderson Forty Fund, Class I | ||||||||||||||||||||||||||||||||||||
2023 | 28 | $ | 52.22 | $ | 53.48 | $ | 1,568 | 0.20 | % | 0.35 | % | 0.75 | % | 39.47 | % | 38.92 | % | |||||||||||||||||||
2022 | 29 | 37.44 | 38.49 | 1,125 | 0.17 | % | 0.35 | % | 0.75 | % | (33.78 | )% | (34.05 | )% | ||||||||||||||||||||||
2021 | 31 | 56.55 | 58.37 | 1,839 | 0.00 | % | 0.35 | % | 0.75 | % | 22.47 | % | 21.98 | % | ||||||||||||||||||||||
2020 | 33 | 46.17 | 47.85 | 1,581 | 0.27 | % | 0.35 | % | 0.75 | % | 38.91 | % | 38.36 | % | ||||||||||||||||||||||
2019 | 37 | 33.24 | 34.58 | 1,279 | 0.16 | % | 0.35 | % | 0.75 | % | 36.68 | % | 36.14 | % | ||||||||||||||||||||||
Janus Henderson Forty Fund, Class S | ||||||||||||||||||||||||||||||||||||
2023 | 6 | 90.21 | 85.75 | 506 | 0.13 | % | 0.35 | % | 0.65 | % | 39.17 | % | 38.75 | % | ||||||||||||||||||||||
2022 | 6 | 64.82 | 61.80 | 382 | 0.05 | % | 0.35 | % | 0.65 | % | (33.96 | )% | (34.16 | )% | ||||||||||||||||||||||
2021 | 6 | 98.16 | 93.87 | 585 | 0.00 | % | 0.35 | % | 0.65 | % | 22.17 | % | 21.81 | % | ||||||||||||||||||||||
2020 | 6 | 80.34 | 77.06 | 496 | 0.16 | % | 0.35 | % | 0.65 | % | 38.55 | % | 38.13 | % | ||||||||||||||||||||||
2019 | 7 | 57.99 | 55.79 | 374 | 0.02 | % | 0.35 | % | 0.65 | % | 36.37 | % | 35.97 | % | ||||||||||||||||||||||
Janus Henderson Global Research Fund, Class I | ||||||||||||||||||||||||||||||||||||
2023 | 96 | 22.89 | 19.38 | 1,965 | 0.93 | % | 0.35 | % | 0.75 | % | 26.34 | % | 25.83 | % | ||||||||||||||||||||||
2022 | 99 | 18.12 | 15.40 | 1,612 | 1.53 | % | 0.35 | % | 0.75 | % | (19.69 | )% | (20.01 | )% | ||||||||||||||||||||||
2021 | 104 | 22.56 | 19.25 | 2,122 | 0.53 | % | 0.35 | % | 0.75 | % | 17.21 | % | 17.68 | % | ||||||||||||||||||||||
2020 | 109 | 16.43 | 19.17 | 1,882 | 0.65 | % | 0.35 | % | 0.75 | % | 19.16 | % | 19.64 | % | ||||||||||||||||||||||
2019 | 124 | 13.78 | 16.03 | 1,800 | 1.02 | % | 0.35 | % | 0.75 | % | 28.08 | % | 28.59 | % | ||||||||||||||||||||||
Janus Henderson Overseas Fund, Class S | ||||||||||||||||||||||||||||||||||||
2023 | 11 | 37.97 | 36.03 | 401 | 1.41 | % | 0.35 | % | 0.65 | % | 10.20 | % | 9.87 | % | ||||||||||||||||||||||
2022 | 11 | 34.46 | 32.79 | 388 | 1.60 | % | 0.35 | % | 0.65 | % | (9.15 | )% | (9.43 | )% | ||||||||||||||||||||||
2021 | 11 | 37.93 | 36.20 | 429 | 1.06 | % | 0.35 | % | 0.65 | % | 12.55 | % | 12.89 | % | ||||||||||||||||||||||
2020 | 12 | 32.16 | 34.72 | 387 | 1.05 | % | 0.35 | % | 0.65 | % | 15.27 | % | 15.62 | % | ||||||||||||||||||||||
2019 | 12 | 27.90 | 30.03 | 344 | 1.85 | % | 0.35 | % | 0.65 | % | 25.89 | % | 26.26 | % |
56
As of December 31 | For the period ended December 31 | |||||||||||||||||||||||||||||||||||
Subaccount | Units (000's) | Unit
Fair Value Corresponding to the Lowest and Highest Expense Ratios | Net
Assets (000's) | Investment Income Ratio (a) | Expense Ratios (b) | Total
Return (c) Corresponding to the Lowest and Highest Expense Ratios | ||||||||||||||||||||||||||||||
Low | High | Low | High | Low | High | |||||||||||||||||||||||||||||||
MFS Utilities Series, Initial Class | ||||||||||||||||||||||||||||||||||||
2023 | 4 | $ | 66.38 | $ | 67.41 | $ | 264 | 3.49 | % | 0.35 | % | 0.65 | % | (2.45 | )% | (2.74 | )% | |||||||||||||||||||
2022 | 4 | 68.04 | 69.31 | 293 | 2.37 | % | 0.35 | % | 0.65 | % | 0.40 | % | 0.10 | % | ||||||||||||||||||||||
2021 | 4 | 67.77 | 69.24 | 298 | 1.70 | % | 0.35 | % | 0.65 | % | 13.35 | % | 13.69 | % | ||||||||||||||||||||||
2020 | 5 | 59.61 | 61.08 | 280 | 2.26 | % | 0.35 | % | 0.65 | % | 5.22 | % | 5.53 | % | ||||||||||||||||||||||
2019 | 5 | 56.48 | 58.05 | 295 | 4.13 | % | 0.35 | % | 0.65 | % | 24.26 | % | 24.63 | % | ||||||||||||||||||||||
PIMCO Global Bond Opportunities Portfolio (Unhedged), Admin Class | ||||||||||||||||||||||||||||||||||||
2023 | 11 | 16.70 | 21.41 | 211 | 2.25 | % | 0.35 | % | 0.65 | % | 4.89 | % | 4.58 | % | ||||||||||||||||||||||
2022 | 12 | 15.92 | 20.47 | 217 | 1.44 | % | 0.35 | % | 0.65 | % | (11.31 | )% | (11.58 | )% | ||||||||||||||||||||||
2021 | 12 | 17.96 | 23.15 | 242 | 4.93 | % | 0.35 | % | 0.65 | % | (4.78 | )% | (4.49 | )% | ||||||||||||||||||||||
2020 | 12 | 18.80 | 24.52 | 262 | 2.10 | % | 0.35 | % | 0.65 | % | 9.40 | % | 9.73 | % | ||||||||||||||||||||||
2019 | 17 | 17.13 | 22.34 | 353 | 2.50 | % | 0.35 | % | 0.65 | % | 5.44 | % | 5.75 | % |
(a) These ratios represent the dividends received by the Subaccount, excluding distributions of capital gains, divided by the daily average net assets. These ratios exclude expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the Subaccount is affected by the timing of the declaration of dividends by the underlying mutual fund in which the Subaccounts invest.
(b) These ratios represent the annualized Policy expenses of the respective Subaccounts of the Separate Account, consisting primarily of mortality and expense risk charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to Policy owner accounts through the redemption of units and expenses of the underlying mutual fund are excluded.
(c) These amounts represent the total return for the periods indicated, are not annualized, include changes in the value of the underlying mutual fund, and reflect deductions for all items included in the expense ratio. The total return does not include any expenses addressed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented.
57
7. | SUBSEQUENT EVENTS |
The Separate Account has evaluated the effects of events subsequent to December 31, 2023, and through the date at which the financial statements were available to be issued. All accounting and disclosure requirements related to subsequent events are included in our financial statements.
58