State Street Russell Small Cap Value Index Ret Acct

 Investment Option Profile
Small/Mid-Cap Stocks -- Small-Cap Value Stocks

INVESTMENT OBJECTIVE

Seeks to replicate the returns and characteristics of the Dow Jones Small Cap Value Index.
INVESTMENT ADVISOR

The TR Transamerica SSgA Dow Jones Small-Cap Value Fund1 is a Separate Account portfolio maintained by Transamerica Financial Life Insurance Company (TFLIC). The TR Transamerica SSgA Dow Jones Small-Cap Value Fund invests exclusively in the Transamerica SSgA Dow Jones Small-Cap Value Fund, a Transamerica Life Insurance Company^ (TLIC) Separate Account, which had an inception date of October 1, 2004. The TLIC Separate Account invests exclusively in the Small Value Index Securities Non-Lending Fund Series A, a State Street Global Advisors bank commingled fund, which had an inception date of January 31, 1986.2
INVESTMENT DESCRIPTION

The Small Value Index Securities Non-Lending Fund uses a replication approach to construct a portfolio with returns designed to closely track the Dow Jones Small Cap Value Index. The Dow Jones Small Cap Value Index seeks to provide an effective representation of the US small cap value segment of the equity market. It consists of common stocks chosen based on market capitalization and value characteristics. The strategy involves purchasing each security in the same capitalization weight as it appears in the Dow Jones Small Cap Value Index. Replication results in low turnover, accurate tracking, and low costs. The strategy is to buy and hold securities, trading only when there is a change to the composition of the Index or when cash flow activity occurs in the Fund. To provide 100% exposure to the equity market, the Fund maintains a small (generally less than 5%) position in unleveraged S&P 500/BARRA Value stock index futures contracts. The commingled fund seeks to achieve its objective by investing primarily in units of the State Street Global Advisors Small Value Index Securities Non-Lending Fund (the "Core Fund"), a bank commingled fund maintained by State Street Bank and Trust Company (Trustee). The commingled fund may invest excess cash in short-term securities and instruments including, but not limited to the Short Term Investment Fund or other short-term cash funds maintained by the commingled fund, as well as shares of the SSgA Money Market Fund and the SSgA Yield Plus Fund, short-term registered mutual funds for which an affiliate of the Trustee acts as investment adviser.
RISK/RETURN

Investments of this type, primarily in securities of small capitalization companies, may experience greater price volatility than funds that invest in more established, larger capitalization companies. Price volatility means that stock prices can go up or down due to a variety of economic or market conditions. Value stocks may be subject to special risks that have caused the stocks to be out of favor and undervalued in the advisor’s opinion.
CHARGES FEES AND EXPENSES

There are no Investment Management or Administrative Charges applicable to the TR Transamerica SSgA Dow Jones Small-Cap Value Fund Separate Account portfolio. However, the assets in this Separate Account portfolio are subject to the total operating expenses (expense ratio) of the underlying Transamerica SSgA Dow Jones Small-Cap Value Fund, which consists of Investment Management Charges which total 0.85% as of November 30, 2005. There may also be charges to your balance in the Separate Account portfolio for Contract Asset Charges, discontinuance charges or service fees, as applicable under your contract.
 
Prior to 10-19-2018, the underlying commingled fund in which the TLIC Separate Account invests in was named the State Street Russell Small Cap Value Idx NL A, but on this day merged into the State Street Russell Small Cap Value Index NL Class C. Effective 03-31-16, the SSgA Russell Small Cap Value Index Ret Acct changed its name to the State Street Russell Small Cap Value Index Ret Acct. Prior to 01-01-2016, the underlying commingled fund was named the SSgA Russell Small Cap Value Index Non-Lending Series Fund Class A. Effective 09-30-11, the SSgA Russell 2000 Value Index Ret Acct changed its name to the SSgA Russell Small Cap Value Index Ret Acct. This Separate Account invests in the State Street Russell Small Cap Value Index Ret Opt, a TLIC Separate Account. Effective 11-30-09, the underlying investment of the TLIC Separate Account was terminated by SSgA. As a result of this change, the underlying investment of the TLIC Separate Account changed from the SSgA Small Value Index Securities Non-Lending Fund Series A to the SSgA Russell 2000 Value Index Non-Lending Series Fund in order to maintain the investment's long-term style. The historical performance prior to the TLIC Separate Account portfolio inception date is calculated utilizing actual past performance for the underlying bank commingled fund (SSgA Small Value Index Securities Non-Lending Fund Series A) and adjusted for TLIC Separate Account Maintenance (SAM) Charges. The TLIC Separate Account historical return prior to 03-31-01 is calculated based on the performance of the State Street Global Advisors' Small Value Index base fund.