Franklin U.S. Government Securities VIP Fund

  • Trading Symbol: FFMEC
  • Information
    Prior to May 1, 2014, the Franklin U.S. Government Securities VIP Fund was known as the Franklin U.S. Government Fund.Prior to May 1, 2014, the Franklin U.S. Government Securities VIP Fund was known as the Franklin U.S. Government Fund.

Morningstar® Snapshot*

Returns 5 out of 5, High Returns
Risk of this Category Category Risk Rating:3, where 1 is Lower and 10 is Higher

*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.


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AS OF 12/31/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FFMEC +0.30% +3.13% -- -- +0.54%
*AS OF 1/23/2015; Value is cumulative

Fund Manager(s)

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Patrick Klein since 5/1/2010 Paul Varunok since 12/31/2004

Fund Overview


The investment seeks income.


The fund normally invests at least 80% of net assets in U.S. government securities. It invests primarily to predominantly in fixed income and variable rate mortgage-backed securities, a significant to substantial amount of which is in securities issued by the Government National Mortgage Association. The fund may also invest in mortgage-backed and other securities issued or guaranteed by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). It may invest in U.S. Treasury STRIPS, bills, bonds and notes. The fund may also invest in other U.S. government securities.


In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Additional risk information for this product may be found in the prospectus or other product materials, if available.


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Morningstar Category
Intermediate Government
Subaccount Inception
Unit Value
Turnover Rate
Net Assets ($M)
12 Month Low-High
$9.90 - $10.21

Top 10 Holdings

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AS OF 12/31/2014
Top 10 Holdings
GNMA 4% 08/20/2044 4.90%
GNMA 3.5% 12/20/2044 3.49%
GNMA 3.5% 09/20/2042 3.03%
FNMA FRN 2.55%
GNMA 3.5% 01/20/2043 2.29%
GNMA 3.5% 05/20/2043 1.92%
GNMA 3.5% 11/20/2042 1.85%
GNMA 4% 11/20/2044 1.77%
FNMA 4.5% 1.45%
GNMA 4% 09/20/2044 1.45%
% of Total Portfolio 24.70%
Total # of holdings: 1687 as of 12/31/2014

Quarter-End Average Annual Total Returns

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AS OF 12/31/2014; *SUBACCOUNT INCEPTION 4/30/2012 Glossary definition opens in new window.

0.74% AS OF 5/1/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Franklin U.S. Government Securities VIP Fund 3.13% -- -- -- 0.54%
Barclays Int Gov bond 2.52% 0.99% 2.78% 3.76% --
Intermediate Government 3.12% 0.05% 1.69% 2.43% --

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