Common use of Asset Categories Clause in Contracts

Asset Categories. The Portfolio Manager will have full discretion subject to compliance with all applicable LNL policies, Risk Management Committee guidelines, and reinsurance treaty limitations to invest and reinvest the funds in assets in a manner necessary to achieve the investment objective. Such assets may include, but are not limited to, cash and cash equivalents; U.S. and foreign Government obligations; public, U.S. and foreign corporate fixed income securities; private placements (including Rule 144A securities); structured products (i.e., ABS, MBS, CMBS, etc.); and mortgage loans; and derivative instruments. All purchases are subject to the limitations imposed in this investment policy. Exposure limits are based on the GAAP book value of invested assets. Asset Categories Maximum % of Invested Assets Cash and Cash Equivalents [REDACTED] U.S. Treasury/Agency Securities [REDACTED] Public Corporate Bonds (including 144 securities) [REDACTED] Derivative Instruments [REDACTED] Less Liquid Investments Traditional Private Placements [REDACTED] Commercial Mortgage Loans [REDACTED] Real Estate (including real estate contingent Acquisition program) [REDACTED] Total Less Liquid Investments [REDACTED] Asset Backed Securities Agency Residential Mortgage Backed Securities [REDACTED] Non-Agency Residential Mortgage Backed Securities [REDACTED] Commercial Mortgage Backed Securities [REDACTED] Total Asset Backed Securities** [REDACTED] * Includes Residential Whole Loans ** Includes other asset backed securities Foreign Investments Investments in Developing Countries [REDACTED] Total Foreign Investments*** [REDACTED] *** For further details see the LNL Statement of Investment Policy for Foreign Investments. Foreign risk is defined by the “underlying sovereign” referring to the actual sovereign exposure inherent in the security (i.e .the “country of risk”). LNL will not purchase securities with less-than investment grade credit quality ratings when such ratings are lower than the long term foreign currency ratings of the underlying sovereign. Equity Related Securities: Common stock [REDACTED] Preferred stock [REDACTED] Mutual Funds [REDACTED] Total Equity-Related Securities [REDACTED] Diversification: Per Industry [REDACTED] Per Non-Government Issuer [REDACTED] Below Investment Grade Securities NAIC Grade 3-4-5-6 [REDACTED] NAIC Grade 4-5-6 [REDACTED] NAIC Grade 5-6 [REDACTED]

Asset Categories. The Portfolio Manager will have full discretion subject to compliance with all applicable LNL policiesGrantor and its designated investment advisor, Risk Management Committee guidelinesif any, and reinsurance treaty limitations to invest and reinvest the funds in assets in a manner necessary to achieve the investment objective. Such assets may include, but are not limited to, cash and cash equivalents; U.S. and foreign Government obligations; public, U.S. and foreign corporate fixed income securities; private placements (including Rule 144A securities); structured products (i.e., ABS, MBS, CMBS, etc.); and mortgage loans; and derivative instruments. All purchases are subject to the limitations imposed in by this investment policyInvestment Policy and applicable laws and regulations. Investments may include cash and/or cash equivalents; U.S. government obligations; municipal obligations; public corporate fixed income (including 144A); agency mortgage-backed securities; and asset-backed securities. Exposure limits are based on the GAAP book value of invested assets. Permitted Asset Categories Maximum % of Invested Assets Cash and Cash Equivalents [REDACTED] U.S. TreasurySplit Methodology: For purposes of calculating compliance with the investment guidelines, if two Nationally Recognized Rating Agencies (NRSRO's) rate a security, then the most conservative (lowest) rating will be used. Where three NRSRO's rate a security, then the middle rating will apply (e.g., an AA/Agency Securities [REDACTED] Public Corporate Bonds AAA/Aaa bond would be considered to be an AAA bond). For these purposes, NRSRO's include: Xxxxx'x, S&P and Fitch. All securities purchased must be rated by at least one NRSRO. Assets not permitted: Equity related securities Less liquid securities (including 144 securitiestraditional private placements, commercial mortgage loans, real estate, alternatives) [REDACTED] Derivative Instruments [REDACTED] Less Liquid Investments Traditional Private Placements [REDACTED] Commercial Mortgage Loans [REDACTED] Real Estate (including real estate contingent Acquisition program) [REDACTED] Total Less Liquid Investments [REDACTED] Asset Backed Securities Agency Residential Mortgage Backed Securities [REDACTED] Non-Agency Residential Mortgage Mortgage-Backed Securities (RMBS) Non-US dollar (unhedged) Derivative products Any security that is not specifically included under permitted asset categories Maturity and Duration Profile: While the Required Collateral amounts are less than or equal to [REDACTED], the effective duration of the assets in trust, excluding cash, short term (<6 months) U.S. Treasury Securities and Agency Residential MBS, will be within 2 years of the target duration initially set at 5.0 years. While the Required Collateral amounts are greater than [REDACTED], the effective duration of the assets in trust, excluding cash, short term (<6 months) U.S. Treasury Securities and Agency Residential MBS, will be within 1 year of the target duration initially set at 5.0 years. After written notification of Required Collateral beyond [REDACTED] Commercial Mortgage Backed Securities [REDACTED] Total Asset Backed Securities** [REDACTED] * Includes Residential Whole Loans ** Includes other asset backed securities Foreign Investments Investments in Developing Countries [REDACTED] Total Foreign Investments*** [REDACTED] *** For further details see is received, Union Xxxxxxxx will have 45 calendar days to adjust the LNL Statement of Investment Policy for Foreign Investments. Foreign risk is defined by the “underlying sovereign” referring trust holdings to the actual sovereign exposure inherent in the security (i.e .the “country of risk”). LNL will not purchase securities with less-than investment grade credit quality ratings when such ratings are lower than the long term foreign currency ratings of the underlying sovereign. Equity Related Securities: Common stock [REDACTED] Preferred stock [REDACTED] Mutual Funds [REDACTED] Total Equity-Related Securities [REDACTED] Diversification: Per Industry [REDACTED] Per Non-Government Issuer [REDACTED] Below Investment Grade Securities NAIC Grade 3-4-5-6 [REDACTED] NAIC Grade 4-5-6 [REDACTED] NAIC Grade 5-6 [REDACTED]meet this tighter duration target.

Asset Categories. The Portfolio Manager will have full discretion subject to compliance with all applicable LNL policies, Risk Management Committee guidelines, and reinsurance treaty limitations to invest and reinvest the funds in assets in a manner necessary to achieve the investment objective. Such assets may include, but are not limited to, cash and cash equivalents; U.S. and foreign Government obligations; public, U.S. and foreign corporate fixed income securities; private placements (including Rule 144A securities); structured products (i.e., ABS, MBS, CMBS, etc.); and mortgage loans; and derivative instruments. All purchases are subject to the limitations imposed in this investment policy. Exposure limits are based on the GAAP book market value of invested assetsassets as of the most recent statutory financial statement. Asset Categories Maximum % of Invested Assets Cash and Cash Equivalents [REDACTED] U.S. Treasury/Agency Securities [REDACTED] Public Corporate Bonds (including 144 securities) [REDACTED] Derivative Instruments [REDACTED] Less Liquid Investments Traditional Private Placements [REDACTED] Commercial Mortgage Loans [REDACTED] Real Estate (including real estate contingent [REDACTED] Acquisition program) [REDACTED] Total Less Liquid Investments [REDACTED] Asset Backed Securities Agency Residential Mortgage Backed Securities [REDACTED] Non-Agency Residential Mortgage Backed Securities Securities* [REDACTED] Commercial Mortgage Backed Securities [REDACTED] Total Asset Backed Securities** [REDACTED] * Includes Residential Whole Loans ** Includes other asset backed securities Foreign Investments Investments in Developing Countries [REDACTED] Total Foreign Investments*** [REDACTED] *** For further details see the LNL Statement of Investment Policy for Foreign Investments. Foreign risk is defined by the “underlying sovereign” referring to the actual sovereign exposure inherent in the security (i.e .the “country of risk”). LNL will not purchase securities with less-than investment grade credit quality ratings when such ratings are lower than the long term foreign currency ratings of the underlying sovereign. Equity Related Securities: Common stock [REDACTED] Preferred stock [REDACTED] Mutual Funds [REDACTED] Total Equity-Related Securities [REDACTED] Diversification: Per Industry [REDACTED] Per Non-Government Issuer [REDACTED] Below Investment Grade Securities NAIC Grade 3-4-5-6 [REDACTED] NAIC Grade 4-5-6 [REDACTED] NAIC Grade 5-6 [REDACTED]