Asset Allocation Fund (First Prospectus Summary) | Asset Allocation Fund

ASSET ALLOCATION FUND(SM)

INVESTMENT OBJECTIVE

The fund's investment objective is to provide you with high total return
(including income and capital gains) consistent with preservation of capital
over the long term.

FEES AND EXPENSES OF THE FUND

This table describes the fees and expenses that you may pay if you buy and hold
an interest in Class 1 shares of the fund. It does not reflect insurance
contract fees and expenses. If insurance contract fees and expenses were
reflected, expenses shown would be higher.

ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)

Annual Fund Operating Expenses	Asset Allocation Fund Class 1
Management fee	0.30%
Other expenses	0.01%
Total annual fund operating expenses	0.31%

EXAMPLE

The example below is intended to help you compare the cost of investing in
Class 1 shares of the 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 your shares at the end of the periods. The example
also assumes that your investment has a 5% return each year and that the fund's
operating expenses remain the same. The example does not reflect insurance
contract expenses. If insurance contract expenses were reflected, expenses
shown would be higher.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
Asset Allocation Fund Class 1	32	100	174	393

PORTFOLIO TURNOVER

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 investment
results. During the most recent fiscal year, the fund's portfolio turnover rate
was 43% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

In seeking to pursue its investment objective, the fund varies its mix of
equity securities, debt securities and money market instruments. Under normal
market conditions, the fund's investment adviser expects (but is not required)
to maintain an investment mix falling within the following ranges: 40%-80% in
equity securities, 20%-50% in debt securities and 0%-40% in money market
instruments. As of December 31, 2011, the fund was approximately 75% invested
in equity securities, 21% invested in debt securities and 4% invested in money
market instruments. The proportion of equities, debt and money market
securities held by the fund varies with market conditions and the investment
adviser's assessment of their relative attractiveness as investment
opportunities.

The fund invests in a diversified portfolio of common stocks and other equity
securities, bonds and other intermediate and long-term debt securities, and
money market instruments (debt securities maturing in one year or less).
Although the fund focuses on investments in medium to larger capitalization
companies, the fund's investments are not limited to a particular
capitalization size. The fund may invest up to 15% of its assets in common
stocks and other equity securities of issuers domiciled outside the United
States and up to 5% of its assets in debt securities of issuers domiciled
outside the United States. In addition, the fund may invest up to 25% of its
debt assets in lower quality debt securities (rated Ba1 or below and BB+ or
below by Nationally Recognized Statistical Rating Organizations designated by
the fund's investment adviser or unrated but determined to be of equivalent
quality by the fund's investment adviser). Such securities are sometimes
referred to as "junk bonds."

The investment adviser uses a system of multiple portfolio counselors in
managing the fund's assets. Under this approach, the portfolio of the fund is
divided into segments managed by individual counselors who decide how their
respective segments will be invested.

The fund relies on the professional judgment of its investment adviser to make
decisions about the fund's portfolio investments. The basic investment
philosophy of the investment adviser is to seek to invest in attractively
priced securities that, in its opinion, represent good, long-term investment
opportunities. The investment adviser believes that an important way to
accomplish this is through fundamental analysis, which may include meeting with
company executives and employees, suppliers, customers and competitors.
Securities may be sold when the investment adviser believes that they no longer
represent relatively attractive investment opportunities.

PRINCIPAL RISKS

THIS SECTION DESCRIBES THE PRINCIPAL RISKS ASSOCIATED WITH THE FUND'S PRINCIPAL
INVESTMENT STRATEGIES.

YOU MAY LOSE MONEY BY INVESTING IN THE FUND. THE LIKELIHOOD OF LOSS MAY BE
GREATER IF YOU INVEST FOR A SHORTER PERIOD OF TIME.

Investors in the fund should have a long-term perspective and be able to
tolerate potentially sharp declines in value.

MARKET CONDITIONS -- The prices of, and income generated by, the common stocks,
bonds and other securities held by the fund may decline due to market
conditions and other factors, including those directly involving the issuers of
securities held by the fund.

INVESTING IN GROWTH-ORIENTED STOCKS -- Growth-oriented stocks may involve
larger price swings and greater potential for loss than other
types of investments.

INVESTING IN INCOME-ORIENTED STOCKS -- Income provided by the fund may be
reduced by changes in the dividend policies of, and the
capital resources available at, the companies in which the fund invests.

INVESTING IN BONDS -- Rising interest rates will generally cause the prices of
bonds and other debt securities to fall. Longer maturity debt securities may be
subject to greater price fluctuations than shorter maturity debt securities. In
addition, falling interest rates may cause an issuer to redeem, call or
refinance a security before its stated maturity, which may result in the fund
having to reinvest the proceeds in lower yielding securities.

Bonds and other debt securities are subject to credit risk, which is the
possibility that the credit strength of an issuer will weaken and/or an issuer
of a debt security will fail to make timely payments of principal or interest
and the security will go into default.

INVESTING IN LOWER RATED BONDS -- Lower rated bonds and other lower rated debt
securities generally have higher rates of interest and involve greater risk of
default or price declines due to changes in the issuer's creditworthiness than
those of higher quality debt securities. The market prices of these securities
may fluctuate more than the prices of higher quality debt securities and may
decline significantly in periods of general economic difficulty. These risks
may be increased with respect to investments in junk bonds.

THINLY TRADED SECURITIES -- There may be little trading in the secondary market
for particular bonds or other securities, which may make them more difficult to
value, acquire or sell.

INVESTING OUTSIDE THE UNITED STATES -- Securities of issuers domiciled outside
the United States, or with significant operations outside the United States,
may lose value because of political, social, economic or market developments or
instability in the countries or regions in which the issuer operates. These
securities may also lose value due to changes in foreign currency exchange
rates against the U.S. dollar and/or currencies of other countries. Securities
markets in certain countries may be more volatile and/or less liquid than those
in the United States. Investments outside the United States may also be subject
to different settlement and accounting practices and different regulatory,
legal and reporting standards, and may be more difficult to value, than those
in the United States.

ASSET ALLOCATION -- The fund's percentage allocations to equity securities,
debt securities and money market instruments could cause the fund to
underperform relative to relevant benchmarks and other funds with similar
investment objectives.

MANAGEMENT -- The investment adviser to the fund actively manages the fund's
investments. Consequently, the fund is subject to the risk that the methods and
analyses employed by the investment adviser in this process may not produce the
desired results. This could cause the fund to lose value or its investment
results to lag relevant benchmarks or other funds with similar objectives.

Your investment in the fund is not a bank deposit and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency, entity or person.

INVESTMENT RESULTS

The following information shows how the investment results of the Class 1
shares of the fund have varied from year to year and how the fund's average
annual total returns for various periods compare with different broad measures
of market performance. This information provides some indication of the risks
of investing in the fund. The Citigroup Broad Investment-Grade (BIG) Bond Index
reflects market sectors and securities in which the fund primarily invests.
Past results are not predictive of future results. Figures shown reflect fees
and expenses associated with an investment in the fund, but do not reflect
insurance contract fees and expenses. If insurance contract fees and expenses
were included, results would have been lower.

The following information shows how the investment results of the Class 1
shares of the fund have varied from year to year and how the fund's average
annual total returns for various periods compare with different broad measures
of market performance.

Calendar year total returns.

The fund's highest/lowest quarterly results during this time period were:

HIGHEST   12.24% (quarter ended June 30, 2003)
LOWEST   -16.30% (quarter ended December 31, 2008)

For periods ended December 31, 2011: AVERAGE ANNUAL TOTAL RETURNS

Average Annual Total Returns Asset Allocation Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Class 1	ASSET ALLOCATION FUND	1.56%	1.45%	4.64%	7.80%	Aug. 01, 1989
S&P 500	S&P 500 (reflects no deduction for sales charges, account fees, expenses or taxes)	2.09%	(0.25%)	2.92%	8.26%	Aug. 01, 1989
Barclays Capita U.S. Aggregate Index	Barclays Capital U.S. Aggregate Index (reflects no deduction for sales charges, account fees, expenses or taxes)	7.84%	6.50%	5.78%	7.00%	Aug. 01, 1989
Citigroup Broad Investment-Grade (BIG) Bond Index	Citigroup Broad Investment-Grade (BIG) Bond Index (reflects no deduction for sales charges, account fees, expenses or taxes)	7.85%	6.69%	5.89%	7.09%	Aug. 01, 1989