Fund Information   
 Investment ObjectivePrincipal Investment StrategiesPrincipal Investment Risks

Portfolio Information  
  Portfolio Turnover Rate Sector Allocation Quality 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
Mid-Term Bond Fund
Investment ObjectiveReturn to Top

The primary investment objective of the Fund is to produce a high level of current income. The secondary investment objective is the preservation of shareholders' capital.

Principal Investment StrategiesReturn to Top

The Fund invests primarily in publicly-traded, investment-grade debt securities.

  • At least 80% of the Fund's total assets are invested in investment-grade securities issued by U.S. corporations or by the U.S. Government or its agencies, such as bonds, notes, debentures, zero coupon securities and mortgage-backed securities. Bonds are debt instruments that can be issued by the federal government, government agencies and subdivisions, states, cities, corporations and other institutions.

  • Although the Fund only purchases investment-grade bonds, the Fund may continue to hold certain corporate bonds in the Fund's portfolio that are downgraded to below investment grade, commonly referred to as "junk bonds."

  • The Adviser evaluates each security to be purchased and selects securities based on maturity, credit quality as determined by fundamental analysis and interest income anticipated to be generated.

  • The Fund's securities holdings will have an average maturity of three to seven years.

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.

  • General risk: The Fund may not achieve its investment objective. An investment in the Fund could decline in value, and you could lose money by investing in the Fund.

  • Market risk: The risk that prices of securities will go down because of the interplay of market forces may affect a single issuer, industry or sector of the economy or may affect the market as a whole.

  • Mortgage risk: The duration of mortgage-related securities and interest rates tend to move together. As interest rates rise, the duration of mortgage-related securities extends and as interest rates fall, mortgage-related securities are often prepaid at a faster rate. Because of interest rate changes, it is not possible to predict the realized yield or average life of a mortgage-backed security.

  • Zero Coupon risk: Zero coupon securities and discount notes do not pay interest prior to maturity and therefore may be more difficult to resell during periods of interest rate changes. The market value of debt securities declines as interest rates rise; therefore the Fund may lose value if it sells zero coupon securities prior to their maturity date. The longer the remaining term to maturity, the greater impact interest rate changes will have on the value of the security.

  • Fixed Income risk: The value of your investment will go up or down depending on movements in the bond markets.

    • Investment management risk: The Fund's investment results may differ from the results of a comparable bond market and from the results of other funds that invest in the same types of securities or particular debt securities.

    • Interest rate risk: Fixed income securities have an inverse relationship to interest rates, such that as interest rates rise, bond values decrease, and the Fund faces a heightened level of interest rate risk under current conditions because interest rates are at historically low levels.

    • Corporate Debt risk: During periods of economic uncertainty, the value of corporate debt securities may decline relative to the value of U.S. government debt securities. Debt obligations are subject to the risk that issuers may not be able to pay off the principal and interest when due.

    • Credit risk: Debt obligations are generally subject to the risk that the issuer may be unable to make principal and interest payments when they are due.

    • Call risk: When interest rates decline, an issuer may have an option to call the securities before maturity, resulting in reduced income.

    • Non-investment grade debt risk: Non-investment grade debt obligations, known as "junk bonds," have a higher risk of default and tend to be less liquid than higher-rated securities.

    • Liquidity risk: The prices of debt securities may be subject to significant volatility, particularly as markets become less liquid due to limited dealer inventory of corporate bonds.

    • Extension risk: Mortgage-related and other asset-backed securities are subject to the risk that the issuer of such a security pays back the principal of such an obligation later than expected. This may occur when interest rates rise, and this may negatively affect fund returns.

Performance Return to Top

AS OF 5/20/2019
Year to Date 2.16%
Prior 3 Months 1.28%
Prior 1 Year 3.03%
Prior 3 Years 0.59%
Prior 5 Years 0.83%
Prior 10 Years 2.37%
Date of Inception1 2/5/1993

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.

Portfolio Information for the Mid-Term Bond Fund
Portfolio Turnover RateReturn to Top

Portfolio Turnover Rate(%): 14%*

*Excludes all short-term securities.

Sector Allocation as of 4/30/2019
Return to Top

  Sector Allocation
Sector % of Portfolio
U.S. Govt. Treasuries54.6%
U.S. Govt. Agencies6.1%
Mortgage Backed0.0%
Asset Backed0.0%
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.

Quality Allocation as of 4/30/2019
Return to Top

  Quality Allocation
Rating % of Portfolio
B 1.3%
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.

Top Ten Holdings as of 4/30/2019
(reflects most recent information available)
Return to Top

Company % of Portfolio
US Treasury54.4%
FNMA (Agency)3.7%
FHLMC (Agency)2.2%
Prospect Capital Corp.0.7%
Mead Johnson Nutrition Co.0.5%
Boston Properties LP0.5%
Dr Pepper Snapple Group Inc0.5%
HCP Inc0.5%
Marriott International, Inc.0.5%
Regions Financial Corp.0.4%

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.
Manager Biography Return to Top

Andrew L. Heiskell, Executive Vice President of the Adviser, has approximately 50 years of experience in selecting securities for, and managing, fixed-income portfolios. Mr. Heiskell has been employed by the Adviser since 1991.

Jacqueline Sabella, Senior Vice President of the Adviser, joined the Adviser in January 2000, and has approximately 20 years of experience in selecting securities and managing fixed income portfolios.

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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