SA Wellington Capital Appreciation Portfolio
diversity among the sectors and
industries in which it invests.
Small- and Mid-Cap Companies Risk. Companies with smaller market capitalizations (particularly under $1 billion depending on the market) tend to
be at early stages of development with limited product lines, operating
histories, market access for products, financial resources, access to new
capital, or depth in management. It may be difficult to obtain reliable information and financial data about these companies. Consequently, the securities of smaller companies may not be as readily
marketable and may be subject to more abrupt or erratic market movements than
companies with larger capitalizations. Securities of medium-sized companies are also subject to
these risks to a lesser extent.
Depositary Receipts Risk. Depositary receipts are generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. The issuers of unsponsored
depositary receipts are not obligated to disclose information that is considered
material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the
depositary receipts. Certain depositary receipts are not listed on an exchange and therefore are
subject to illiquidity risk.
Issuer
Risk. The value of a security may decline for a number of reasons directly related to the
issuer, such as management performance, financial leverage and reduced demand for the
issuer’s goods and services.
Active Trading Risk. The Portfolio may engage in frequent trading of securities to achieve its investment goal. Active trading may result in
high portfolio turnover and correspondingly greater brokerage commissions and
other transaction costs, which will be borne directly by the Portfolio and could
affect its performance. During periods of increased market volatility, active trading may be more
pronounced.
Performance Information
As a result of a reorganization which occurred on November
8, 2021 (the “Reorganization”), the Portfolio acquired all of the assets and liabilities of the SA Wellington Capital Appreciation Portfolio (the
“Predecessor Portfolio”), a series of Anchor Series Trust. The performance information below is based on the performance of the Predecessor Portfolio for
periods prior to the date of the Reorganization. The Predecessor Portfolio had
the same investment goal, strategies, portfolio management team and contractual fees and expenses as the Portfolio as of the date of the Reorganization. As a result, the performance
of the Portfolio would have been substantially similar to that of the Predecessor
Portfolio.
The following bar chart illustrates the risks of
investing in the Portfolio by showing changes in the Portfolio’s
performance from calendar year to calendar year and the table compares the
Portfolio’s average annual returns to those of the Russell 3000 Index (a broad-based securities market index) and the Russell 3000® Growth Index, which is relevant to the Portfolio because it has characteristics similar to the Portfolio’s investment strategies. Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these
amounts were reflected, returns would be less than those shown. Of course, past performance is not necessarily an indication of how the Portfolio will perform in the future.
(Class 1 Shares)
During the period shown in the bar chart:
| Highest Quarterly
Return: |
June 30, 2020 |
39.89% |
| Lowest Quarterly
Return: |
June 30, 2022 |
-29.32% |
SunAmerica Series
Trust
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