Exhibit 17(n) MERRILL LYNCH LARGE CAP GROWTH V.I. FUND OF MERCURY V.I. FUNDS, INC. SEMI-ANNUAL REPORT JUNE 30, 2003 MERRILL LYNCH LARGE CAP GROWTH V.I. FUND Semi-Annual Report -- June 30, 2003 -------------------------------------------...Merrill Lynch Variable Series Funds Inc • October 15th, 2003
The Fund invests primarily in a diversified portfolio of equity securities of large cap companies that Fund management selects from among those included in the Russell 1000 Growth Index. Our investment process attempts to add value through both security selection and portfolio construction. Security selection involves the use of quantitative selection criteria, including earnings momentum, earnings surprise and valuation. These criteria are input into a proprietary quantitative model and are subject to selective fundamental overrides. Portfolio construction consists of an optimization process with risk management controlling style, capitalization, sector and individual security selection.
