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| Fund Overview |  | | | Fund Manager(s): | Fidelity Investments® | | Objective: | Long-term Capital Growth | | Focus: | Primarily securities of domestic or foreign companies with medium market capitalizations. May invest in either growth stocks or value stocks. | | Asset Class: | Mid-Cap Stocks | | Style: | Blend |
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Overseas investments can pose more risks than domestic investments. Unit values are subject to fluctuations in foreign stock markets, currency values, interest rates, government regulations and political conditions. Investing in small company stocks involves a greater degree of risk than investing in medium or large company stocks. Investing in medium company stocks involves a greater degree of risk than investing in large company stocks. |
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| Fund Facts as of 03-31-2008 | | | | Fund Inception | 12-28-1998 | | First Available for Variable Annuity | 05-01-2003 | | First Available for Variable Life | 05-01-2003 | | | | | Net Assets | $5.34 Billion |
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| Top Ten Holdings (% of Net Assets) | | | Newmont Mining Corp. | | | Gentex Corp. | | | Juniper Networks, Inc. | | | Agco Corp. | | | Amerprise Financial, Inc. | | | Kinross Gold Corp. | | | Weatherford International, Ltd. | | | Deer & Co. | | | Corn Products International, Ltd. | | | Barrick Gold Corp. | | | | | | % of total portfolio | 19.3% |
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| Sector Weightings (% of Equities) | | | Information Technology | 18.4% | | Industrials | 13.8% | | Consumer Discretionary | 13.1% | | Materials | 13.0% | | Health Care | 12.1% |
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Fidelity Management & Research Company's (FMR) principal investment strategies include: - Normally investing primarily in common stocks.
- Normally investing at least 80% of assets in securities of companies with medium market capitalizations (those with market capitalizations similar to companies in the Russell Midcap® Index or the Standard & Poor's MidCap 400® Index (S&P MidCap 400® Index).
- Potentially investing in companies with smaller or larger market capitalizations.
- Investing in domestic and foreign issuers.
- Investing in either "growth" stocks or "value" stocks or both.
- Using fundamental analysis of each issuer's financial condition and industry position and market and economic conditions to select investments.
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Thomas J. Allen—Prior to being named as the portfolio manager of VIP: Mid Cap Portfolio, Thomas J. Allen served as an equity research analyst in Fidelity's small-cap equity research group since 1999. He rejoined Fidelity as an equity research analyst in 1995 covering the insurance industry after working for the company's fund accounting group in the mid-1980s. Allen managed Fidelity Select Insurance Portfolio from 1997 to 1999. Prior to joining the company, Allen was a certified public accountant and audit manager with Price Waterhouse in Boston from 1987 to 1993, and was an equity analyst with MFS Investment Management in Boston in 1994. You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a contract and fund prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money. |
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