Investment Goal: Primary: High-level of current income. Secondary: Capital appreciation.

Under normal circumstances, the fund invests at least 80% of its net assets in fixed income securities and invests primarily in investment grade securities. The fund seeks to track the duration of the Barclays Capital 1-3 Year U.S. Government/Credit Index (+/- one year), although the securities held by the fund may have short, intermediate and long terms to maturity. The fund invests principally in U.S. government securities, corporate debt securities, both foreign and domestic, mortgage-related securities and derivatives thereof, and repurchase agreements collateralized by government securities. This fund is sub-advised by Goldman Sachs Asset Management, L.P., an unaffiliated investment management firm.

Prospectus (I Class Shares)

Prospectus (S Class Shares)

Statement of Additional Information

Annual Shareholder Report

Semi-Annual Shareholder Report

Quarterly Portfolio Holdings Information

Monthly Portfolio Holdings Information

Bond prices rise when interest rates fall and vice versa. The effect of interest rates is usually more pronounced for longer-term bond securities.

An investment in this fund is not insured or guaranteed by the Federal Deposit Insurance Corp. or any other government agency.

This fund is not available for purchase directly by retail investors. Each fund sells its shares only to separate accounts established and maintained by insurance companies for the purpose of funding variable annuity and variable life insurance products.

You should carefully consider the investment objectives, risks, charges and expenses of an investment in the fund. This and other important information is contained in the prospectus, which may be obtained above. Variable contract owners also should obtain the separate account prospectus prepared by the insurance company for its contracts. Read all prospectuses carefully before investing or sending money.

The fund is distributed by Clarendon Insurance Agency, Inc., a wholly-owned subsidiary of Sun Life Assurance Company of Canada (U.S), which is an indirect subsidiary of Sun Life Financial, Inc.

SLPC 22669 11/10 Exp. 11/12