Exhibit
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Exhibit No.
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Instance Document
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EX-101.INS
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Schema Document
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EX-101.SCH
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Calculation Linkbase Document
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EX-101.CAL
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Definition Linkbase Document
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EX-101.DEF
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Label Linkbase Document
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EX-101.LAB
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Presentation Linkbase Document
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EX-101.PRE
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Symetra Pension Reserve Fund 2020 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2020 (b. 1953-1957) | ||||||||||||||||||||||
Symetra Pension Reserve Fund - 2020 (b.1953-1957) | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Symetra Pension Reserve Fund - 2020 (1953-1957) (the "2020 (1953-1957) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Fees and Expenses of the Fund | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the 2020 (1953-1957) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||||||||||||||||||||
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
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Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the 2020 (1953-1957) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||
The 2020 (1953-1957) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Principal Investment Strategies of the Fund | ||||||||||||||||||||||
The 2020 (1953-1957) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2020 (1953-1957) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2020 (1953-1957) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2020 (1953-1957) Fund's portfolio duration target would have been 19.5 years. |
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Principal Risks of Investing in the Fund | ||||||||||||||||||||||
Losing all or a portion of your investment is a risk of investing in the 2020 (1953-1957) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2020 (1953-1957) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2020 (1953-1957) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2020 (1953-1957) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2020 (1953-1957) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2020 (1953-1957) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2020 (1953-1957) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2020 (1953-1957) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2020 (1953-1957) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Performance | ||||||||||||||||||||||
When the 2020 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
Symetra Pension Reserve Fund 2024 (b. 1958-1962) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1958-1962) | ||||||||||||||||||||||
Symetra Pension Reserve Fund - 2024 (b.1958-1962) | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Symetra Pension Reserve Fund - 2024 (b.1958-1962) (the "2024 (1958-1962) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Fees and Expenses of the Fund | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the 2024 (1958-1962) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||||||||||||||||||||
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
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Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the 2024 (1958-1962) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||
The 2024 (1958-1962) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Principal Investment Strategies of the Fund | ||||||||||||||||||||||
The 2024 (1958-1962) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2024 (1958-1962) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2024 (1958-1962) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target portfolio is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2024 (1958-1962) Fund's portfolio duration target would have been 23.4 years. |
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Principal Risks of Investing in the Fund | ||||||||||||||||||||||
Losing all or a portion of your investment is a risk of investing in the 2024 (1958-1962) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2024 (1958-1962) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2024 (1958-1962) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2024 (1958-1962) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2024 (1958-1962) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2024 (1958-1962) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2024 (1958-1962) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2024 (1958-1962) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2024 (1958-1962) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Performance | ||||||||||||||||||||||
When the 2024 (1958-1962) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
Symetra Pension Reserve Fund 2028 (b. 1948-1952) (Prospectus Summary) | Symetra Pension Reserve Fund 2028 (b. 1948-1952) | ||||||||||||||||||||||
Symetra Pension Reserve Fund - 2028 (b.1948-1952) | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Symetra Pension Reserve Fund - 2028 (b.1948-1952) (the "2028 (1948-1952) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Fees and Expenses of the Fund | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the 2028 (1948-1952) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||||||||||||||||||||
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
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Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the 2028 (1948-1952) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
||||||||||||||||||||||
Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||
The 2028 (1948-1952) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Principal Investment Strategies of the Fund | ||||||||||||||||||||||
The 2028 (1948-1952) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2028 (1948-1952) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2028 (1948-1952) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2028 (1948-1952) Fund's portfolio duration target would have been 22.3 years. |
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Principal Risks of Investing in the Fund | ||||||||||||||||||||||
Losing all or a portion of your investment is a risk of investing in the 2028 (1948-1952) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2028 (1948-1952) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2028 (1948-1952) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2028 (1948-1952) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2028 (1948-1952) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2028 (1948-1952) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2028 (1948-1952) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2028 (1948-1952) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2028 (1948-1952) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Performance | ||||||||||||||||||||||
When the 2028 (1948-1952) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
Label | Element | Value | ||||
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2024 (b. 1942-1947) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1942-1947)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2024 (b.1942-1947) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2024 (b.1942-1947) (the "2024 (1942-1947) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2024 (1942-1947) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The 2024 (1942-1947) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2024 (1942-1947) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2024 (1942-1947) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2024 (1942-1947) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2024 (1942-1947) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2024 (1942-1947) Fund's portfolio duration target would have been 18.5 years. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2024 (1942-1947) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2024 (1942-1947) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2024 (1942-1947) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2024 (1942-1947) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2024 (1942-1947) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2024 (1942-1947) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2024 (1942-1947) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2024 (1942-1947) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2024 (1942-1947) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2024 (1942-1947) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2024 (1942-1947) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2024 (b. 1942-1947) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1942-1947) | Symetra Pension Reserve Fund 2024 (b. 1942-1947)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2024 (b. 1958-1962) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1958-1962)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2024 (b.1958-1962) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2024 (b.1958-1962) (the "2024 (1958-1962) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2024 (1958-1962) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
||||
Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The 2024 (1958-1962) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2024 (1958-1962) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2024 (1958-1962) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2024 (1958-1962) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2024 (1958-1962) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target portfolio is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2024 (1958-1962) Fund's portfolio duration target would have been 23.4 years. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2024 (1958-1962) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2024 (1958-1962) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2024 (1958-1962) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2024 (1958-1962) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2024 (1958-1962) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2024 (1958-1962) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2024 (1958-1962) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2024 (1958-1962) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2024 (1958-1962) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
||||
Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2024 (1958-1962) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2024 (1958-1962) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2024 (1958-1962) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2024 (b. 1958-1962) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1958-1962) | Symetra Pension Reserve Fund 2024 (b. 1958-1962)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2020 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2020 (b. 1953-1957)
|
||||||
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2020 (b.1953-1957) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2020 (1953-1957) (the "2020 (1953-1957) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2020 (1953-1957) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
||||
Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The 2020 (1953-1957) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2020 (1953-1957) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
||||
Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2020 (1953-1957) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2020 (1953-1957) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2020 (1953-1957) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2020 (1953-1957) Fund's portfolio duration target would have been 19.5 years. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2020 (1953-1957) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2020 (1953-1957) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2020 (1953-1957) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2020 (1953-1957) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2020 (1953-1957) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2020 (1953-1957) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2020 (1953-1957) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2020 (1953-1957) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2020 (1953-1957) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
||||
Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2020 (1953-1957) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2020 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
||||
Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2020 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2020 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2020 (b. 1953-1957) | Symetra Pension Reserve Fund 2020 (b. 1953-1957)
|
||||||
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2028 (b. 1958-1962) (Prospectus Summary) | Symetra Pension Reserve Fund 2028 (b. 1958-1962)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2028 (b.1958-1962) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2028 (b.1958-1962) (the "2028 (1958-1962) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
||||
Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2028 (1958-1962) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
||||
Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The 2028 (1958-1962) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2028 (1958-1962) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
||||
Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2028 (1958-1962) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2028 (1958-1962) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will likely result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2028 (1958-1962) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2028 (1958-1962) Fund's portfolio duration target would have been 25.5 years. |
||||
Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2028 (1958-1962) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2028 (1958-1962) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2028 (1958-1962) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2028 (1958-1962) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2028 (1958-1962) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2028 (1958-1962) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2028 (1958-1962) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2028 (1958-1962) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2028 (1958-1962) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
||||
Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2028 (1958-1962) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2028 (1958-1962) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2028 (1958-1962) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-796-3872 | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2028 (b. 1958-1962) (Prospectus Summary) | Symetra Pension Reserve Fund 2028 (b. 1958-1962) | Symetra Pension Reserve Fund 2028 (b. 1958-1962)
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2016 (b. 1942-1947) (Prospectus Summary) | Symetra Pension Reserve Fund 2016 (b. 1942-1947)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2016 (b.1942-1947) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2016 (b.1942-1947) (the "2016 (1942-1947) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2016 (1942-1947) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The 2016 (1942-1947) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2016 (1942-1947) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2016 (1942-1947) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2016 (1942-1947) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2016 (1942-1947) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2016 (1942-1947) Fund's portfolio duration target would have been 13.8 years. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2016 (1942-1947) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2016 (1942-1947) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2016 (1942-1947) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2016 (1942-1947) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2016 (1942-1947) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2016 (1942-1947) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2016 (1942-1947) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2016 (1942-1947) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2016 (1942-1947) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2016 (1942-1947) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2016 (1942-1947) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2016 (b. 1942-1947) (Prospectus Summary) | Symetra Pension Reserve Fund 2016 (b. 1942-1947) | Symetra Pension Reserve Fund 2016 (b. 1942-1947)
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
|
Symetra Pension Reserve Fund 2016 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2016 (b. 1953-1957) | ||||||||||||||||||||||
Symetra Pension Reserve Fund - 2016 (b.1953-1957) | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Symetra Pension Reserve Fund - 2016 (b.1953-1957) (the "2016 (1953-1957) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Fees and Expenses of the Fund | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the 2016 (1953-1957) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||||||||||||||||||||
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
|
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Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the 2016 (1953-1957) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||
|
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Portfolio Turnover | ||||||||||||||||||||||
The 2016 (1953-1957) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
||||||||||||||||||||||
Principal Investment Strategies of the Fund | ||||||||||||||||||||||
The 2016 (1953-1957) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2016 (1953-1957) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2016 (1953-1957) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2016 (1953-1957) Fund's portfolio duration target would have been 17.2 years. |
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Principal Risks of Investing in the Fund | ||||||||||||||||||||||
Losing all or a portion of your investment is a risk of investing in the 2016 (1953-1957) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2016 (1953-1957) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2016 (1953-1957) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2016 (1953-1957) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2016 (1953-1957) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2016 (1953-1957) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2016 (1953-1957) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2016 (1953-1957) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2016 (1953-1957) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Performance | ||||||||||||||||||||||
When the 2016 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
Symetra Pension Reserve Fund 2024 (b. 1948-1952) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1948-1952) | ||||||||||||||||||||||
Symetra Pension Reserve Fund - 2024 (b.1948-1952) | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Symetra Pension Reserve Fund - 2024 (b.1948-1952) (the "2024 (1948-1952) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Fees and Expenses of the Fund | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the 2024 (1948-1952) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||||||||||||||||||||
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
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Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the 2024 (1948-1952) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||
The 2024 (1948-1952) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Principal Investment Strategies of the Fund | ||||||||||||||||||||||
The 2024 (1948-1952) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2024 (1948-1952) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2024 (1948-1952) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2024 (1948-1952) Fund's portfolio duration target would have been 20.1 years. |
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Principal Risks of Investing in the Fund | ||||||||||||||||||||||
Losing all or a portion of your investment is a risk of investing in the 2024 (1948-1952) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2024 (1948-1952) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2024 (1948-1952) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2024 (1948-1952) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2024 (1948-1952) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2024 (1948-1952) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2024 (1948-1952) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Performance | ||||||||||||||||||||||
When the 2024 (1948-1952) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2016 (b. 1948-1952) (Prospectus Summary) | Symetra Pension Reserve Fund 2016 (b. 1948-1952)
|
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2016 (b.1948-1952) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2016 (b.1948-1952) (the "2016 (1948-1952) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2016 (1948-1952) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
||||
Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The 2016 (1948-1952) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2016 (1948-1952) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
||||
Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the 2016 (1948-1952) Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2016 (1948-1952) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment debt grade securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2016 (1948-1952) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2016 (1948-1952) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2016 (1948-1952) Fund's portfolio duration target would have been 15.5 years. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2016 (1948-1952) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2016 (1948-1952) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2016 (1948-1952) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2016 (1948-1952) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2016 (1948-1952) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2016 (1948-1952) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2016 (1948-1952) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2016 (1948-1952) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2016 (1948-1952) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2016 (1948-1952) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2016 (1948-1952) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
||||
Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2016 (1948-1952) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2016 (b. 1948-1952) (Prospectus Summary) | Symetra Pension Reserve Fund 2016 (b. 1948-1952) | Symetra Pension Reserve Fund 2016 (b. 1948-1952)
|
||||||
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
|
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra Pension Reserve Fund 2024 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1953-1957)
|
||||||
Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra Pension Reserve Fund - 2024 (b.1953-1957) | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra Pension Reserve Fund - 2024 (b.1953-1957) (the "2024 (1953-1957) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
||||
Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the 2024 (1953-1957) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
||||
Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the 2024 (1953-1957) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The 2024 (1953-1957) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2024 (1953-1957) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2024 (1953-1957) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2024 (1953-1957) Fund's portfolio duration target would have been 21.7 years. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the 2024 (1953-1957) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2024 (1953-1957) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2024 (1953-1957) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2024 (1953-1957) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2024 (1953-1957) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2024 (1953-1957) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2024 (1953-1957) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2024 (1953-1957) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2024 (1953-1957) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the 2024 (1953-1957) Fund. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the 2024 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the 2024 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra Pension Reserve Fund 2024 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2024 (b. 1953-1957) | Symetra Pension Reserve Fund 2024 (b. 1953-1957)
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.32% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.77% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.09% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.69%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.40% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 41 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 491 | ||||
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Label | Element | Value | ||||
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
ProspectusDate | rr_ProspectusDate | May 18, 2012 | ||||
Symetra DoubleLine Emerging Markets Income Fund (Prospectus Summary) | Symetra DoubleLine Emerging Markets Income Fund
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Risk/Return, Heading | rr_RiskReturnHeading | Symetra DoubleLine Emerging Markets Income Fund | ||||
Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective | ||||
investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Symetra DoubleLine Emerging Markets Income Fund (the "Emerging Markets Fund" or the "Fund") seeks total return through both income and capital appreciation. |
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Expense, Heading | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||
Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Emerging Markets Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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Shareholder Fees, Caption | rr_ShareholderFeesCaption | SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||
Operating Expenses, Caption | rr_OperatingExpensesCaption | ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The Emerging Markets Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" is an estimated amount for the current fiscal year. | ||||
Expense Example, Heading | rr_ExpenseExampleHeading | Example | ||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Emerging Markets Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Expense Example, By Year, Caption | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||
Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies of the Fund | ||||
Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | Under normal market conditions the Emerging Markets Fund pursues its investment objective by investing at least 80% of its net assets (plus the amount of borrowings for investment purposes) in debt securities of foreign issuers that are located in emerging market countries or whose securities are traded in emerging markets. The Fund generally maintains investments in securities of issuers in at least four emerging market countries. Nonetheless, the Fund is not a diversified mutual fund under the 1940 Act. In allocating investments among various emerging market countries, the Fund's Sub-Adviser attempts to analyze various internal economic, market and political factors, including the following: (1) public finance, (2) monetary policy, (3) external accounts, (4) financial markets, (5) regulation of foreign investments, (6) exchange rate policy, and (7) labor conditions. An emerging market country is a country that, at the time the Emerging Markets Fund invests in the related debt instruments, is classified as an emerging or developing economy by any supranational organization such as the World Bank or the United Nations, or related entities, or is considered an emerging market country for purposes of constructing major emerging market securities indexes. The Emerging Markets Fund may invest without limitation in lower-rated securities, commonly known as junk bonds, and may invest up to 20% of its assets in defaulted corporate securities when the Sub-Adviser believes that the restructured enterprise valuation or liquidation valuation may significantly exceed current market valuations. In addition, the Fund may invest in defaulted foreign government debt securities where the Sub-Adviser believes that the expected debt sustainability of the country exceeds current market valuations. In order to hedge the Fund's portfolio, as well as for investment purposes, the Fund may purchase or sell options on securities in which it may invest and invest in interest rate futures contracts, options on interest rate futures contracts, structured notes, foreign currency futures contracts, foreign currency forward contracts and enter into swap agreements (including credit default swaps). Under normal market conditions, the Emerging Markets Fund generally seeks a target weighted average effective duration of two to eight years, though actual duration may vary considerably from this target. Portfolio securities may be sold at any time. Sales may occur when the Emerging Markets Fund's portfolio manager perceives deterioration in the credit fundamentals of the issuer, the portfolio manager believes there are negative macro geo-political considerations that may affect the issuer, the portfolio manager determines to take advantage of a better investment opportunity or the individual security has reached the portfolio manager's sell target. |
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Risk, Heading | rr_RiskHeading | Principal Risks of Investing in the Fund | ||||
Risk, Narrative | rr_RiskNarrativeTextBlock | Losing all or a portion of your investment is a risk of investing in the Emerging Markets Fund. The following additional risks could affect the value of your investment: · Active Trading Risk. Active trading, also called "high portfolio turnover," may result in higher brokerage costs or mark-up charges, as compared to a fund that trades less frequently, which may negatively affect Fund performance. · Credit Risk. The issuers of the bonds and other debt securities held by the Emerging Markets Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Defaulted Securities Risk. There is a high level of uncertainty regarding the repayment of defaulted securities and obligations of distressed issuers. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose values are derived from those of other securities or indices. The Emerging Markets Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. The costs associated with securities transactions are often higher in foreign countries than the U.S. The U.S. dollar value of securities of foreign issuers traded in foreign currencies (and any dividends and interest earned) held by the Emerging Markets Fund may be affected favorably or unfavorably by changes in foreign currency exchange rates. An increase in the U.S. dollar relative to these other currencies will adversely affect the Fund (this is known as Foreign Currency Risk). The Fund does not hedge foreign currency risk. Additionally, investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. These risks are magnified for emerging markets countries (Emerging Market Country Risk) due to the greater degree of economic, political and social instability of emerging market countries as compared to developed countries. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Junk Bond Risk. Although junk bonds generally pay higher rates of interest than investment grade bonds, junk bonds are high risk investments that may cause income and principal losses for the Emerging Markets Fund. Junk bonds are subject to reduced creditworthiness of issuers; increased risk of default and a more limited and less liquid secondary market than higher rated securities; and greater price volatility and risk of loss of income and principal than are higher rated securities. · Leveraging Risk. Certain investments by the Emerging Markets Fund may involve leverage, which may have the effect of increasing the volatility of the Fund's portfolio, and the risk of loss in excess of invested capital. · Liquidity Risk. In certain circumstances, low trading volume, lack of a market maker, or contractual or legal restrictions may limit or prevent the Emerging Markets Fund from selling securities or closing any derivative positions within a reasonable time at desirable prices. In addition, the ability of the Fund to assign an accurate daily value to certain investments may be difficult, and the Adviser may be required to fair value the investments. · Management Risk. The Emerging Markets Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the Emerging Markets Fund invests may decline for a number of reasons including in response to economic or political developments and perceptions about the creditworthiness of individual issuers or other issuer-specific events. · New Fund Risk. The Emerging Markets Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size, the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Non-diversification Risk. The Emerging Markets Fund is a non-diversified investment company. As such, it will likely invest in fewer securities than diversified investment companies and its performance may be more volatile. The Fund may be more susceptible to any single economic, political or regulatory event than a more diversified fund. If the securities in which the Fund invests perform poorly, the Fund could incur greater losses than it would have had it invested in a greater number of securities. |
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Risk, Lose Money | rr_RiskLoseMoney | Losing all or a portion of your investment is a risk of investing in the Emerging Markets Fund. | ||||
Risk, Nondiversified Status | rr_RiskNondiversifiedStatus | The Emerging Markets Fund is a non-diversified investment company. As such, it will likely invest in fewer securities than diversified investment companies and its performance may be more volatile. The Fund may be more susceptible to any single economic, political or regulatory event than a more diversified fund. If the securities in which the Fund invests perform poorly, the Fund could incur greater losses than it would have had it invested in a greater number of securities. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance | ||||
Performance, Narrative | rr_PerformanceNarrativeTextBlock | When the Emerging Markets Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | When the Emerging Markets Fund has been in operation for a full calendar year, performance information will be shown here. | ||||
Performance, Availability Phone Number | rr_PerformanceAvailabilityPhone | 1-800-SYMETRA (1-800-796-3872) | ||||
Performance, Availability Website Address | rr_PerformanceAvailabilityWebSiteAddress | www.symetra.com/funds | ||||
Symetra DoubleLine Emerging Markets Income Fund (Prospectus Summary) | Symetra DoubleLine Emerging Markets Income Fund | Symetra DoubleLine Emerging Markets Income Fund
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Risk Return [Abstract] | rr_RiskReturnAbstract | |||||
Management Fees | rr_ManagementFeesOverAssets | 0.90% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 1.48% | [1] | |||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.38% | ||||
Less: Fee Waiver and Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (1.40%) | [2] | |||
Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | rr_NetExpensesOverAssets | 0.98% | ||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2013-04-30 | ||||
Expense Example, With Redemption, 1 Year | rr_ExpenseExampleYear01 | 100 | ||||
Expense Example, With Redemption, 3 Years | rr_ExpenseExampleYear03 | 608 | ||||
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Symetra Pension Reserve Fund 2028 (b. 1953-1957) (Prospectus Summary) | Symetra Pension Reserve Fund 2028 (b. 1953-1957) | ||||||||||||||||||||||
Symetra Pension Reserve Fund - 2028 (b.1953-1957) | ||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||
The Symetra Pension Reserve Fund - 2028 (b.1953-1957) (the "2028 (1953-1957) Fund" or the "Fund") seeks investment returns that would provide an amount on the Fund's termination date approximately equal to the then present value of specified lifetime annuity payments to be made to investors born in the year range identified in the Fund's name. As a result of its investment objective, a Pension Reserve Fund may not be a wise investment choice for an investor who does not anticipate applying his or her accumulation to the purchase of a lifetime annuity on or shortly after the Fund's termination date. |
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Fees and Expenses of the Fund | ||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the 2028 (1953-1957) Fund. The expenses shown in the table and in the example that follow do not reflect additional fees and expenses that will be applied at the variable annuity or variable life insurance contract level. If those additional fees and expenses were included, overall expenses would be higher. |
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SHAREHOLDER FEES (fees paid directly from your investment) N/A | ||||||||||||||||||||||
ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||
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Example | ||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the 2028 (1953-1957) Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Expense Cap and Fee Waiver only in the first year). |
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Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||
The 2028 (1953-1957) Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. No portfolio turnover rate is presented for the Fund because it had not commenced operations as of the date of this Prospectus. |
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Principal Investment Strategies of the Fund | ||||||||||||||||||||||
The 2028 (1953-1957) Fund invests primarily in government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the three highest categories by an NRSRO or unrated securities that the Sub-Adviser determines are of comparable quality. The Fund also may invest in other types of dollar-denominated investment grade debt securities, including money market instruments and securities of foreign issuers. Most of the securities held by the Fund are zero coupon debt securities. Under normal market conditions, the Sub-Adviser generally seeks to minimize credit risk by favoring government securities and dollar-denominated corporate debt securities rated, at the time of purchase, in the two highest categories by an NRSRO, and investing in other permitted investments when government securities and corporate securities in the two highest categories are not available in sufficient quantities at a reasonable price or are not available in optimal durations or maturities. The Fund also may manage portfolio duration by investing in interest rate futures contracts, options on interest rate futures contracts, structured notes and entering into swap agreements, provided that structured notes and swap agreements are determined by the Sub-Adviser to pose minimal counter-party credit risk. The 2028 (1953-1957) Fund is managed to continuously meet portfolio duration targets that correspond to projected payments, based on actuarially determined survivorship rates, of a single life annuity on the life of a person born in the year-range identified in the Fund's name. The portfolio duration targets are recalculated at least monthly based on a formula established by the Adviser (after consultation with Symetra Life Insurance Company ("Symetra Life")) at the Fund's inception. The formula will not change once the Fund commences operations. (The only variables in the formula are the amount of time remaining until each annual projected payment of the single life annuity and the prevailing interest rates on the recalculation date. The prevailing interest rates are derived from the U.S. Treasury Zero Coupon yield curve - sometimes by interpolation.) Under normal market conditions, the Sub-Adviser seeks to meet the Fund's daily portfolio duration target by first, to the extent that such investments are available, investing in securities having cash flows similar to the projected payments of the single life annuity and then by balancing investments in securities with longer and shorter durations than the target duration. The portfolio duration target generally declines for the Fund over the life of the Fund, but will be substantially greater than zero at the Fund's termination date. As a result, to meet the portfolio duration target, the Fund will likely have an investment portfolio at its termination date of debt securities of substantial remaining duration. This in turn, will result in the market value of the Fund's investment portfolio at the termination date being significantly influenced by prevailing interest rates. Generally speaking, the higher the prevailing rates at the Fund's maturity, the less the Fund will receive from selling its assets and the lower the prevailing rates, the more the Fund will receive for selling its assets. Thus, the market value of such assets is inversely related to prevailing interest rates. The present value of a future series of payments decreases as the interest rate on which the present value is computed increases. Therefore, on the 2028 (1953-1957) Fund's termination date the present value of the annuity payments the investor is entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund will be less the higher the prevailing interest rates. The Fund's adherence to the portfolio duration target formula is intended to result in the Fund having on its termination date net assets approximately equal to the present value of the aggregate annuity payments investors are entitled to receive as a result of owning accumulation units in the sub-account of the Symetra Resource Variable Account B that invests in shares of the Fund. However, even if a Fund successfully adheres to the formula, there is no guarantee that it will achieve this intended result or its investment objective. Although the Fund has no current plans to close, there is no guarantee that the Fund will continue to accept new investments until the termination date. As of the date of this Prospectus, based on the current U.S. Treasury Zero Coupon interest rate, if the Fund had been operational on May 7, 2012, the 2028 (1953-1957) Fund's portfolio duration target would have been 23.9 years. |
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Principal Risks of Investing in the Fund | ||||||||||||||||||||||
Losing all or a portion of your investment is a risk of investing in the 2028 (1953-1957) Fund. The following additional risks could affect the value of your investment: · Credit Risk. The issuers of the bonds and other debt securities held by the 2028 (1953-1957) Fund may not be able to make interest or principal payments when due. Even if these issuers are able to make interest or principal payments, changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer by leading to greater volatility in the price of the security. · Credit Default Swap Risk. In a credit default swap transaction, both the 2028 (1953-1957) Fund and its counter-party are exposed to the risk of default by the other. In addition, the terms of most credit default swap transactions require little or no initial investment by the seller in relation to the notional amount of the swap and the corresponding risk. Therefore, small changes in the market value of the reference security or group of securities may produce disproportionate and substantial losses for the seller. · Derivatives Risk. Derivatives are securities, such as futures contracts, whose value is derived from that of other securities or indices. The 2028 (1953-1957) Fund's investments in derivatives may pose risks in addition to those associated with investing directly in securities or other investments. Derivative securities are subject to a number of risks including liquidity, interest rate, market, credit and management risks, the risk of improper valuation, illiquidity of the derivatives, imperfect correlations with underlying investments or the Fund's other portfolio holdings, lack of availability and counterparty risk. Changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. An investment in derivatives may not perform as anticipated by the Sub-Adviser, may not be able to be closed out at a favorable time or price. An investment in derivatives may also increase the Fund's volatility and create investment leverage. When a derivative is used as a substitute or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment; or, when used for hedging purposes, derivatives may not provide the anticipated protection, causing the Fund to lose money on both the derivatives transaction and the exposure the Fund sought to hedge. · Extension Risk. When interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. · Foreign Investing Risk. The securities of foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Investments in securities of foreign issuers, even those publicly traded in the United States, may involve risks which are in addition to those inherent in domestic investments. Foreign companies may not be subject to the same regulatory requirements of U.S. companies, and as a consequence, there may be less publicly available information about such companies. Also, foreign companies may not be subject to uniform accounting, auditing, and financial reporting standards and requirements comparable to those applicable to U.S. companies. Foreign governments and foreign economies often are less stable than the U.S. Government and the U.S. economy. · Interest Rate Risk. In general, the value of bonds and other debt securities falls when interest rates rise. Generally, the longer the duration of a debt security, the greater is the negative effect on its value when rates increase. Because zero coupon debt securities do not pay interest, the market value of such securities can fall more dramatically than interest-paying securities of similar maturities when interest rates rise. While bonds and other debt securities normally fluctuate less in price than common stocks, there have been extended periods of increases in interest rates that have caused significant declines in bond prices. · Management Risk. The 2028 (1953-1957) Fund is subject to management risk because it is an actively managed portfolio. The portfolio manager's management practices, investment strategies, and choice of investments might not work to produce the desired results and the Fund might underperform other comparable funds. · Market Risk. The prices of the securities in which the 2028 (1953-1957) Fund invests may decline for a number of reasons including in response to economic developments and perceptions about the creditworthiness of individual issuers. Longer-term bonds, in which the Fund will invest a majority of its assets, are generally more volatile. · New Fund Risk. The 2028 (1953-1957) Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow to or maintain an economically viable size the Board may consider various alternatives, including the liquidation of the Fund or the merger of the Fund into another mutual fund. · Portfolio Duration Target Formula Risk. There is no guarantee that adherence to the portfolio duration target formula will result in the Fund achieving its investment objective. · Prepayment Risk. When interest rates fall, certain obligations will be paid off by the obligor more quickly than originally anticipated, and the 2028 (1953-1957) Fund may have to invest the proceeds in securities with lower yields (this is known as Reinvestment Risk). · Termination Risk. Because the 2028 (1953-1957) Fund has a Termination Date and it will invest a majority of its assets in securities that mature after the Termination Date, the Fund may incur liquidation costs to liquidate its portfolio. · U.S. Government Issuer Risk. Treasury obligations may differ in their interest rates, maturities, times of issuance and other characteristics. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government. No assurance can be given that the U.S. Government will provide financial support to its agencies and authorities if it is not obligated by law to do so. |
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Performance | ||||||||||||||||||||||
When the 2028 (1953-1957) Fund has been in operation for a full calendar year, performance information will be shown here. Updated performance information is available on the Fund's website at www.symetra.com/funds or by calling the Fund toll-free at 1-800-SYMETRA (1-800-796-3872). |