Fund Information   
 Investment ObjectivePrincipal Investment StrategiesPrincipal Investment Risks
 Performance 

Portfolio Information  
  Portfolio Turnover Rate Industry Allocation Top Ten Holdings  
  Manager Biography


Fund Information for Mutual of America's Group Products (Except Defined Benefit and Pension Investment Contract), SEP and SIMPLE Contracts Separate Account No. 2 - Standard Pricing
Deutsche Variable Series I Capital Growth VIP
Investment ObjectiveReturn to Top

The fund seeks to provide long-term growth of capital.


Fund Information for Mutual of America's Group Products (Except Defined Benefit and Pension Investment Contract), SEP and SIMPLE Contracts Separate Account No. 2 - Standard Pricing
Deutsche Variable Series I Capital Growth VIP
Principal Investment StrategiesReturn to Top

Main investments. The fund normally invests at least 65% of total assets in equities, mainly common stocks of US companies. The fund generally focuses on established companies that are similar in size to the companies in the S&P 500® Index (generally 500 of the largest companies in the US) or the Russell 1000® Growth Index (generally those stocks among the 1,000 largest US companies that have relatively higher price-to-earnings ratios and higher forecasted growth values). While the market capitalization ranges of the S&P 500® Index and the Russell 1000® Growth Index change throughout the year, as of February 28, 2017 the market capitalization range of the S&P 500® Index was between $2.5 billion and $730.5 billion and the market capitalization range of the Russell 1000® Growth Index was between $89.2 million and $637.7 billion.The S&P 500® Index is rebalanced quarterly on the third Friday of March, June, September and December. The Russell 1000® Growth Index is reconstituted annually every June. Although the fund can invest in companies of any size, the fund intends to invest primarily in companies whose market capitalizations fall within the normal range of these indexes. The fund may also invest in other types of equity securities such as preferred stocks or convertible securities. The fund may also invest to a limited extent in companies outside the US.

Management process. Portfolio management aims to add value through stock selection. In choosing securities, portfolio management employs a risk-balanced bottom-up selection process to identify companies it believes are well-positioned and that have above average and sustainable growth potential.

Portfolio management utilizes a proprietary investment process designed to identify attractive investments by utilizing proprietary research conducted by in-house analysts. The investment process also takes into consideration various valuation metrics to assess the attractiveness of stocks and assists portfolio management in devising allocations among investable securities.

All investment decisions are made within risk parameters set by portfolio management. Portfolio management may favor different types of securities from different industries and companies at different times.

Portfolio management will normally sell a stock when its price fully reflects portfolio management’s estimate of its fundamental value, its fundamentals have deteriorated, other investments offer better opportunities or in the course of adjusting the fund’s exposure to a given sector.

Derivatives. Portfolio management generally may use futures contracts, which are a type of derivative (a contract whose value is based on, for example, indices, currencies or securities), as a substitute for direct investment in a particular asset class, to keep cash on hand to meet shareholder redemptions or for other needs while maintaining exposure to the stock market.

The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.

Securities Lending. The fund may lend securities (up to one-third of total assets) to approved institutions.


Fund Information for Mutual of America's Group Products (Except Defined Benefit and Pension Investment Contract), SEP and SIMPLE Contracts Separate Account No. 2 - Standard Pricing
Deutsche Variable Series I Capital Growth VIP
Principal Investment RisksReturn to Top

An investment in the Fund is subject to the following risks which are described in more detail in the Statutory Prospectus.

There are several risk factors that could hurt the fund’s performance, cause you to lose money or cause the fund’s performance to trail that of other investments. The fund may not achieve its investment objective, and is not intended to be a complete investment program. An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.

Stock market risk. When stock prices fall, you should expect the value of your investment to fall as well. Stock prices can be hurt by poor management on the part of the stock’s issuer, shrinking product demand and other business risks. These may affect single companies as well as groups of companies. In addition, movements in financial markets may adversely affect a stock’s price, regardless of how well the company performs. The market as a whole may not favor the types of investments the fund makes, which could affect the fund's ability to sell them at an attractive price. To the extent the fund invests in a particular capitalization or sector, the fund’s performance may be affected by the general performance of that particular capitalization or sector.

Growth investing risk. As a category, growth stocks may underperform value stocks (and the stock market as a whole) over any period of time. Because the prices of growth stocks are based largely on the expectation of future earnings, growth stock prices can decline rapidly and significantly in reaction to negative news about such factors as earnings, the economy, political developments, or other news.

Security selection risk. The securities in the fund’s portfolio may decline in value. Portfolio management could be wrong in its analysis of industries, companies, economic trends, the relative attractiveness of different securities or other matters.

Medium-sized company risk. Medium-sized company stocks tend to be more volatile than large company stocks. Because stock analysts are less likely to follow medium-sized companies, less information about them is available to investors. Industry-wide reversals may have a greater impact on medium-sized companies, since they lack the financial resources of larger companies. Medium-sized company stocks are typically less liquid than large company stocks.

Small company risk. Small company stocks tend to be more volatile than medium-sized or large company stocks. Because stock analysts are less likely to follow small companies, less information about them is available to investors. Industry-wide reversals may have a greater impact on small companies, since they may lack the financial resources of larger companies. Small company stocks are typically less liquid than large company stocks.

Foreign investment risk. The fund faces the risks inherent in foreign investing. Adverse political, economic or social developments could undermine the value of the fund’s investments or prevent the fund from realizing the full value of its investments. In June 2016, citizens of the United Kingdom approved a referendum to leave the European Union (EU), creating economic and political uncertainty. Significant uncertainty exists regarding the timing of the United Kingdom’s anticipated withdrawal from the EU and the effects such withdrawal may have on the United Kingdom, other EU countries and the global economy.

Financial reporting standards for companies based in foreign markets differ from those in the US. Additionally, foreign securities markets generally are smaller and less liquid than US markets. To the extent that the fund invests in non-US dollar denominated foreign securities, changes in currency exchange rates may affect the US dollar value of foreign securities or the income or gain received on these securities.

Derivatives risk. Risks associated with derivatives may include the risk that the derivative is not well correlated with the security, index or currency to which it relates; the risk that derivatives may result in losses or missed opportunities; the risk that the fund will be unable to sell the derivative because of an illiquid secondary market; the risk that a counterparty is unwilling or unable to meet its obligation; and the risk that the derivative transaction could expose the fund to the effects of leverage, which could increase the fund’s exposure to the market and magnify potential losses.

Securities lending risk. Any decline in the value of a portfolio security that occurs while the security is out on loan is borne by the fund and will adversely affect performance. Also, there may be delays in recovery of securities loaned or even a loss of rights in the collateral should the borrower of the securities fail financially while holding the security.

Counterparty risk. A financial institution or other counterparty with whom the fund does business, or that underwrites, distributes or guarantees any investments or contracts that the fund owns or is otherwise exposed to, may decline in financial health and become unable to honor its commitments. This could cause losses for the fund or could delay the return or delivery of collateral or other assets to the fund.

Liquidity risk. In certain situations, it may be difficult or impossible to sell an investment and/or the fund may sell certain investments at a price or time that is not advantageous in order to meet redemption requests or other cash needs. Unusual market conditions, such as an unusually high volume of redemptions or other similar conditions could increase liquidity risk for the fund.

Pricing risk. If market conditions make it difficult to value some investments, the fund may value these investments using more subjective methods, such as fair value pricing. In such cases, the value determined for an investment could be different from the value realized upon such investment’s sale. As a result, you could pay more than the market value when buying fund shares or receive less than the market value when selling fund shares.

Operational and technology risk. Cyber-attacks, disruptions, or failures that affect the fund’s service providers or counterparties, issuers of securities held by the fund, or other market participants may adversely affect the fund and its shareholders, including by causing losses for the fund or impairing fund operations.


Fund Information for Mutual of America's Group Products (Except Defined Benefit and Pension Investment Contract), SEP and SIMPLE Contracts Separate Account No. 2 - Standard Pricing
Deutsche Variable Series I Capital Growth VIP
Performance Return to Top


TOTAL RETURN PERFORMANCE DATA
FOR MUTUAL OF AMERICA GROUP PRODUCTS (EXCEPT DEFINED BENEFIT AND PENSION INVESTMENT CONTRACT), SEP AND SIMPLE CONTRACTS SEPARATE ACCOUNT NO. 2 - STANDARD PRICING
AS OF 2/22/2018
Year to Date 2.94%
FOR PERIODS ENDED 1/31/2018
Prior 3 Months 9.67%
ANNUALIZED
Prior 1 Year 28.42%
Prior 3 Years 13.97%
Prior 5 Years 15.79%
Prior 10 Years 9.37%
Date of Inception1 1/3/1989

1 Date of Inception shown is the date the Underlying Fund became available to the Separate Account, in accordance with a current SEC staff position. An Underlying Fund may have begun operations at an earlier date.



The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and unit values will fluctuate so that units, when redeemed, may be worth more or less than their original cost. Investment Fund total return performance currently may be lower or higher than the figures stated above.

The total return performance data are based on a hypothetical investment of $1,000, which is redeemed at the end of the periods shown. The total return figures reflect the reinvestment of investment income and capital gains and losses, and are net of expenses which include a contract fee, an expense risk fee, administrative charges, a distribution expense charge and Underlying Funds fees and expenses.

The total return figures for periods extending beyond a year are average rates of return and do not reflect the Funds' actual year-to-year results, which varied over the periods shown. Contributions or withdrawals made within a period would experience different rates of return based on the unit values on the dates of such transactions.


Fund Information for Mutual of America's Group Products (Except Defined Benefit and Pension Investment Contract), SEP and SIMPLE Contracts Separate Account No. 2 - Standard Pricing
Deutsche Variable Series I Capital Growth VIP
Portfolio Turnover RateReturn to Top

Portfolio Turnover Rate(%): 47%*

*Excludes all short-term securities.


Portfolio Information for the Deutsche Variable Series I Capital Growth VIP
Industry Allocation as of 12/31/2017
Return to Top

         
  Industry Allocation
Industry % of Portfolio
Cash/Other1.5%
Materials2.8%
Industrials10.9%
Telecomm Service2.7%
Consumer Discretionary15.8%
Consumer Staples5.1%
Energy0.9%
Financials5.5%
Health Care16.8%
Information Technology35.8%
Real Estate2.2%
 
The above Portfolio Information is provided to illustrate the types of securities in which the Portfolio may invest. The information is subject to change and may not represent the Portfolio's current or future holdings.

Portfolio Information for the Deutsche Variable Series I Capital Growth VIP
Top Ten Holdings as of 12/31/2017
(reflects most recent information available)
Return to Top



Company % of Portfolio
Apple Inc7.4%
Microsoft Corp.5.3%
Amazon.Com Inc.3.7%
Visa Inc3.2%
Boeing Co.3.0%
Home Depot Inc3.0%
Alphabet Inc. Cl A2.6%
Alphabet Inc. Cl C2.4%
Facebook Inc.2.4%
Thermo Fisher Scientific, Inc.2.3%



The above Portfolio Information is provided to illustrate the types of securities in which the Portfolio may invest. The information is subject to change and may not represent the Portfolio's current or future holdings.

Portfolio Information for the Deutsche Variable Series I Capital Growth VIP
Manager Biography Return to Top


Sebastian P. Werner, Director. Portfolio Manager of the fund. Began managing the fund in 2016. Joined Deutsche Asset Management in 2008; previously, he served as a Research Assistant for the Endowed Chair of Asset Management at the European Business School, Oestrich-Winkel while earning his PhD. Portfolio Manager for Global and US Growth Equities: New York. MBA in International Management from the Thunderbird School of Global Management; Masters Degree ("Diplom-Kaufmann") and PhD in Finance ("Dr.rer.pol.") from the European Business School, Oestrich-Winkel.


Before investing, you should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and the underlying investment funds. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses. Please read the contract prospectus or brochure and underlying fund prospectuses and summary prospectuses carefully before investing. The contract prospectus or brochure and underlying fund prospectuses and summary prospectuses can be obtained by mail or by calling 1-800-468-3785.


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