EX-99.13 6 z54025aex99-13.txt COMPUTATION OF TOTAL RETURN CALCULATIONS EXHIBIT 13 THE TRAVELERS SEPARATE ACCOUNT PF AND SEPARATE ACCOUNT PF II FOR VARIABLE ANNUITIES SCHEDULE FOR COMPUTATION OF TOTAL RETURN CALCULATIONS The standardized and nonstandardized average annual total returns are computed according to the formula described below. A hypothetical initial investment of $1,000 is applied to the Funding Option, and then related to ending redeemable values as of the most recent fiscal year end, for the calendar year-to-date (nonstandardized only), and over a 1-year, 3-year (nonstandardized only), 5-year, and 10-year period, or since inception if a Funding Option has not been in existence for one of the prescribed periods. 1/n T = (ERV/P) -1 where: T = average annual total return P = a hypothetical initial payment of $1,000 n = the applicable year (1, 3, 5, 10) or portion thereof ERV = ending redeemable value of a hypothetical $1,000 payment made at the beginning of each of the periods Both the standardized and nonstandardized performance returns reflect the deduction for the management fees and other expenses for a Funding Option, the mortality and expense risk charge(s) and the administrative expense charge. For Funding Options that were in existence prior to the date they became available under the Separate Account, the standardized average total return quotations may be accompanied by returns showing the investment performance that such Fund Options would have achieved (reduced by applicable charges/fees) had they been held under the Contract for the period quoted. The total return quotations are based on historical earnings and are not necessarily representative of future performance. Standardized Method The standardized returns take into consideration all fees and/or charges applicable to the Funding Option or contract. Standardized performance figures will only be available after the product offered through the Separate Account has begun operating. Under the standardized method, the $30 annual contract administrative charge is reflected in the calculation. It is expressed as a percentage of assets based on the actual fees collected divided by the average net assets for contracts sold under the prospectus for each year for which performance is shown. Nonstandardized Method Nonstandardized returns do not reflect the deduction of the $30 annual administrative charge, which, if reflected, would decrease the level of performance shown. For a Schedule of the Computation of the Historical Total Return Quotations, see attached.
Unit Values At Fund Name Inception Date 31-Dec-01 31-Dec-00 31-Dec-98 AIM V.I. Capital Appreciation Fund - Series II Shares (1.90%) 05-May-93 0.999183 1.328561 1.071052 AIM V.I. Value Fund - Series II Shares (1.90%) 05-May-93 1.000104 1.166092 1.092513 Alliance Premier Growth Portfolio-Class B* (1.90%) 26-Jun-92 0.997311 1.230744 1.162328 Alliance Technology Portfolio- Class B (1.90%) 11-Jan-96 0.982909 1.343975 1.014267 Concert Investment Series Select Government Portfolio (1.90%) 14-Sep-99 1.011029 0.973366 - Fidelity VIP Equity Income Portfolio - Service Class 2 (1.90%) 09-Oct-86 0.998336 1.073715 0.970623 Fidelity VIP Growth Portfolio - Service Class 2 (1.90%) 09-Oct-86 0.993844 1.233413 1.050958 Fidelity VIP Mid Cap Portfolio - Service Class 2* (1.90%) 29-Dec-98 1.007342 1.064236 0.696703 MFS Mid Cap Growth Portfolio (1.90%) 23-Mar-98 1.030802 1.376483 0.796227 MFS Research Portfolio (1.90%) 23-Mar-98 1.020216 1.341031 1.192732 MFS Total Return Portfolio (1.90%) 20-Jun-94 1.022573 1.042266 0.90429 Mutal Shares Securities Fund - Class 2 (1.90%) 08-Nov-96 1.000818 0.952899 0.932877 Oppenheimer Capital Appreciation Fund/ VA - Service Shares (1.90%) 03-Apr-85 0.999557 1.165747 0.856731 Oppenheimer Main Street Growth & Income Fund/VA - Service Shares (1.90%) 05-Jul-95 0.997472 1.133138 1.061049 Pioneer Fund VCT Portfolio - Class II Shares (1.90%) 31-Oct-97 0.995921 1.14455 1.013719 Pioneer Mid-Cap Value VCT Portfolio - Class II Shares (1.90%) 01-Mar-95 1.004172 0.965957 0.759193 Putnam VT International Growth Fund - Class IB Shares* (1.90%) 02-Jan-97 0.996074 1.270002 0.911468 Putnam VT Small Cap Value Fund - Class IB Shares* (1.90%) 30-Apr-99 1.004784 0.85687 - Smith Barney Aggressive Growth Portfolio (1.90%) 01-Nov-99 1.000766 1.06341 - Smith Barney Allocation Select Balanced Portfolio (1.90%) 10-Mar-97 1.012039 1.045959 0.963368 Smith Barney Allocation Select Growth Portfolio (1.90%) 11-Mar-97 1.01071 1.142319 1.072675 Smith Barney Allocation Select High Growth Portfolio (1.90%) 10-Mar-97 1.008459 1.169118 1.031293 Smith Barney Appreciation Portfolio (1.90%) 16-Oct-91 1.017119 1.079654 0.995395 Smith Barney Fundamental Value Portfolio (1.90%) 03-Dec-93 1.01632 1.093535 0.772691 Smith Barney Growth and Income Portfolio (1.90%) 14-Sep-99 1.016387 1.161605 - Smith Barney High Income Portfolio (1.90%) 22-Jun-94 1.003964 1.063129 1.170465 Smith Barney International All Cap Growth Portfolio (1.90%) 20-Jun-94 0.996772 1.476142 1.199365 Smith Barney Large Cap Core Portfolio (1.90%) 14-Sep-99 1.008741 1.202991 - Smith Barney Large Cap Growth Portfolio (1.90%) 01-May-98 0.99468 1.165362 0.99425 Smith Barney Large Cap Value Portfolio (1.90%) 20-Jun-94 1.026896 1.139801 1.045919 Smith Barney Mid Cap Core Portfolio (1.90%) 01-Nov-99 1.026712 1.162639 - Smith Barney Money Market Portfolio (1.90%) 20-Jun-94 0.999824 0.982809 0.91875 Smith Barney Premier Selection All Cap Growth Portfolio (1.90%) 14-Sep-99 1.006824 1.195621 - Smith Barney Small Cap Growth Opportunities Portfolio (1.90%) 07-Feb-97 1.014144 1.233822 0.8543 Social Awareness Stock Portfolio (Smith Barney) (1.90%) 01-May-92 1.01015 1.221035 1.100162 Templeton Growth Securities Fund - Class 2 (1.90%) 15-Mar-94 0.998291 1.030954 0.873389 Travelers Convertible Bond Portfolio (1.90%) 01-May-98 1.003651 1.031474 0.80212 Travelers Managed Income Portfolio (1.90%) 28-Jun-94 1.004214 0.95891 0.915034 Van Kampen Comstock Portfolio - Class II Shares* (1.90%) 01-May-99 1.019871 1.069497 - Van Kampen Emerging Growth Portfolio Class II Shares* (1.90%) 03-Jul-95 0.999625 1.491048 0.84471 Van Kampen Growth and Income Portfolio Class II Shares* (1.90%) 23-Dec-96 1.018516 1.105007 0.852095
Unit Values At Fund Name 31-Dec-96 31-Dec-91 Inception AUV AIM V.I. Capital Appreciation Fund - Series II Shares (1.90%) 0.821697 - 0.450756 AIM V.I. Value Fund - Series II Shares (1.90%) 0.693032 - 0.39685 Alliance Premier Growth Portfolio-Class B* (1.90%) 0.609535 - 0.300424 Alliance Technology Portfolio- Class B (1.90%) 0.604148 - 0.557428 Concert Investment Series Select Government Portfolio (1.90%) - - 0.881619 Fidelity VIP Equity Income Portfolio - Service Class 2 (1.90%) 0.705847 0.339638 0.244812 Fidelity VIP Growth Portfolio - Service Class 2 (1.90%) 0.634452 0.344901 0.190049 Fidelity VIP Mid Cap Portfolio - Service Class 2* (1.90%) - - 0.67988 MFS Mid Cap Growth Portfolio (1.90%) - - 0.803485 MFS Research Portfolio (1.90%) - - 1.143869 MFS Total Return Portfolio (1.90%) 0.693678 - 0.513608 Mutal Shares Securities Fund - Class 2 (1.90%) 0.822315 - 0.7967 Oppenheimer Capital Appreciation Fund/ VA - Service Shares (1.90%) 0.566495 0.293839 0.148228 Oppenheimer Main Street Growth & Income Fund/VA - Service Shares (1.90%) 0.959415 - 0.6255 Pioneer Fund VCT Portfolio - Class II Shares (1.90%) - - 0.779499 Pioneer Mid-Cap Value VCT Portfolio - Class II Shares (1.90%) 0.709734 - 0.563185 Putnam VT International Growth Fund - Class IB Shares* (1.90%) - - 0.689122 Putnam VT Small Cap Value Fund - Class IB Shares* (1.90%) - - 0.687427 Smith Barney Aggressive Growth Portfolio (1.90%) - - 0.776378 Smith Barney Allocation Select Balanced Portfolio (1.90%) - - 0.824814 Smith Barney Allocation Select Growth Portfolio (1.90%) - - 0.878234 Smith Barney Allocation Select High Growth Portfolio (1.90%) - - 0.84148 Smith Barney Appreciation Portfolio (1.90%) 0.686626 0.434832 0.416169 Smith Barney Fundamental Value Portfolio (1.90%) 0.653852 - 0.400384 Smith Barney Growth and Income Portfolio (1.90%) - - 1.178327 Smith Barney High Income Portfolio (1.90%) 1.063069 - 0.833136 Smith Barney International All Cap Growth Portfolio (1.90%) 1.139712 - 0.95015 Smith Barney Large Cap Core Portfolio (1.90%) - - 1.095413 Smith Barney Large Cap Growth Portfolio (1.90%) #N/A - 0.807893 Smith Barney Large Cap Value Portfolio (1.90%) 0.781014 - 0.520638 Smith Barney Mid Cap Core Portfolio (1.90%) - - 0.862102 Smith Barney Money Market Portfolio (1.90%) 0.86447 - 0.802237 Smith Barney Premier Selection All Cap Growth Portfolio (1.90%) - - 0.870003 Smith Barney Small Cap Growth Opportunities Portfolio (1.90%) - - 0.821262 Social Awareness Stock Portfolio (Smith Barney) (1.90%) 0.67879 - 0.40429 Templeton Growth Securities Fund - Class 2 (1.90%) 0.871454 - 0.651748 Travelers Convertible Bond Portfolio (1.90%) - - 0.804646 Travelers Managed Income Portfolio (1.90%) 0.824356 - 0.722199 Van Kampen Comstock Portfolio - Class II Shares* (1.90%) - - 0.901746 Van Kampen Emerging Growth Portfolio Class II Shares* (1.90%) 0.529685 - 0.398886 Van Kampen Growth and Income Portfolio Class II Shares* (1.90%) 0.608357 - 0.610441