Investors should carefully consider the investment objectives, risks, charges, and expenses of any mutual fund before investing. This and other important information is contained in the prospectus, which can be obtained from your financial adviser or from the AIG SunAmerica Sales Desk at 800-858-8850, ext. 6003. Read the prospectus carefully before investing. Funds distributed by AIG SunAmerica Capital Services, Inc. * Occasionally the advisers' securities selection may overlap thus increasing the impact of that holding on the portfolio. The Focused Small-Cap Growth and Focused Small-Cap Value Portfolios will hold up to 60 stocks ( 20 selections per manager) due to liquidity issues. Focused funds are less diversified than the typical mutual funds, therefore the performance of each holding in a focused fund has a greater impact upon the overall portfolio, which increases risk. Stocks of small-cap and mid-cap companies are generally more volatile than, and not as readily marketable as, those of larger companies, and may have less resources and a greater risk of business failure than do large companies. Past performance is no guarantee of future results. Asset Allocation does not guarantee a profit, nor does it protect against loss.