SECURITIES AND EXCHANGE COMMISSION FORM N-CSRS Certified semi-annual shareholder report of registered management investment companies filed on Form N-CSR Filing Date: 2009-10-07 | Period of Report: 2009-07-31 SEC Accession No. 0000950123-09-048954 (HTML Version on secdatabase.com) FILER SUNAMERICA SERIES TRUST Mailing Address Business Address 2929 ALLEN PARKWAY A28-401 SUNAMERICA CENTER CIK:892538| IRS No.: 137002445 | State of Incorp.:MA | Fiscal Year End: 1130 HOUSTON TX 77019 LOS ANGELES CA 90067 Type: N-CSRS | Act: 40 | File No.: 811-07238 | Film No.: 091110221 800-445-7862 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-07238 SUNAMERICA SERIES TRUST (Exact name of registrant as specified in charter) 1 SunAmerica Center, Los Angeles, CA 90067-6022 (Address of principal executive offices) (Zip code) John T. Genoy Senior Vice President SunAmerica Asset Management Corp. Harborside Financial Center, 3200 Plaza 5 Jersey City, NJ 07311 (Name and address of agent for service) Registrants telephone number, including area code: (201) 324-6414 Date of fiscal year end: January 31 Date of reporting period: July 31, 2009 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Item 1. Reports to Stockholders This filing is on behalf of thirty-one of the thirty-five Investment Company Series of SunAmerica Series Trust. Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document SunAmerica Series Trust Semi-Annual Report July 31, 2009 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents Shareholder Letter 1 Expense Example 2 Money Market Cash Management Portfolio (Columbia Management Advisors, LLC) 7 Bonds Corporate Bond Portfolio (Federated Investment Management Company) 11 Global Bond Portfolio (Goldman Sachs Asset Management International) 35 High-Yield Bond Portfolio (SunAmerica Asset Management Corp.) 45 Total Return Bond Portfolio (Pacific Investment Management LLC (PIMCO)) 61 Balanced Balanced Portfolio (J.P. Morgan Investment Management, Inc.) 71 MFS Total Return Portfolio (Massachusetts Financial Services Company) 85 Equity/Specialty Telecom Utility Portfolio (Massachusetts Financial Services Company) 98 Equity Index Portfolio (FAF Advisors, Inc.) 102 Growth-Income Portfolio (AllianceBernstein L.P.) 113 Equity Opportunities Portfolio (OppenheimerFunds, Inc.) 117 Davis Venture Value Portfolio (Davis Selected Advisers, L.P. (dba Davis Advisors)) 121 Dogs of Wall Street Portfolio (SunAmerica Asset Management Corp.) 125 Alliance Growth Portfolio (AllianceBernstein L.P.) 128 Capital Growth Portfolio (OppenheimerFunds, Inc.) 131 MFS Massachusetts Investors Trust Portfolio (Massachusetts Financial Services Company) 135 Fundamental Growth Portfolio (Wells Capital Management, Inc.) 138 Blue Chip Growth Portfolio (SunAmerica Asset Management Corp.) 141 Real Estate Portfolio (Davis Selected Advisers, L.P. (dba Davis Advisors)) 144 Small Company Value Portfolio (Franklin Advisory Services, LLC) 147 Mid-Cap Growth Portfolio (J.P. Morgan Investment Management, Inc.) 151 Aggressive Growth Portfolio (Wells Capital Management, Inc.) 155 Growth Opportunities Portfolio (Morgan Stanley Investment Management, Inc. (dba Van Kampen)) 158 Marsico Focused Growth Portfolio (Marsico Capital Management, LLC) 162 Technology Portfolio (Columbia Management Advisors, LLC) 165 Small & Mid Cap Value Portfolio (AllianceBernstein L.P.) 168 International International Growth and Income Portfolio (Putnam Investment Management, LLC) 172 Global Equities Portfolio (J.P. Morgan Investment Management, Inc.) 176 International Diversified Equities Portfolio (Morgan Stanley Investment Management, Inc. (dba Van Kampen)) 182 Emerging Markets Portfolio (Putnam Investment Management, LLC) 194 Foreign Value Portfolio (Templeton Investment Counsel, LLC) 198 Statement of Assets and Liabilities 202 Statement of Operations 214 Statement of Changes in Net Assets 220 Notes to Financial Statements 231 Financial Highlights 267 Approval of Advisory Agreements 286 Supplement to the Prospectus 288 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Dear SunAmerica Series Trust Investor: We are pleased to present the semiannual report for the SunAmerica Series Trust, one of the underlying trusts for the variable products issued by our life companies. The report provides information about all of the portfolios in your variable contract with the exception of those that may be a part of the separate Anchor Series Trust, American Fund Insurance Series, Van Kampen Trust, Principal Variable Contract Fund , Lord Abbett Series Fund, BB&T Variable Insurance Funds, MTB Funds, Franklin Templeton Variable Insurance Products Trust, Columbia Variable Insurance Trusts and the Fidelity VIP Trusts. Investors in those portfolios will receive separate and complete reports. This report contains the investment portfolio information and the financial statements of the SunAmerica Series Trust portfolios for the reporting period ended July 31, 2009. The report may also contain information on portfolios not currently available in your variable contract. If you have any questions regarding your variable annuity, please contact your investment representative, or you may contact us directly at 1-800-445-SUN2. Thank you for the confidence you place in us with your retirement assets, and we look forward to reporting to you once again in six months. Sincerely, Jay S. Wintrob Chief Executive Officer SunAmerica Annuity Life Assurance Company First SunAmerica Life Insurance Company September 8, 2009 Note: All performance figures quoted are for the SunAmerica Series Trust. They do not reflect fees and charges associated with the variable product. Annuity products are long-term investment vehicles designed for retirement purposes. Early withdrawal may be subject to withdrawal charges and if taken prior to age 591/2, a 10% federal tax penalty may apply. Past performance is no guarantee of future results. Investments in stocks and bonds are subject to risk, including stock market and interest rate fluctuations. Investments that concentrate on one economic sector or geographic region are generally subject to greater volatility than more diverse investments. Technology companies may be subject to additional risks. They may be affected by short product cycles, aggressive pricing of products and services, competition from new market entrants and obsolescence of existing technology. As a result, this portfolios returns may be considerably more volatile than a fund that does not invest in technology companies. International investing may involve special risks, such as foreign taxation, currency risks, risks associated with possible differences in financial standards and other monetary and political risks associated with future political and economic developments. Investments in high-yield bonds have a higher degree of risk than investment in investment grade bonds. Changes in economic conditions or other circumstances may adversely affect a high-yield bond issuers ability to make principal and interest payments. Money market instruments generally offer stability and income, but an investment in these securities, like investments in other portfolios, are not guaranteed by the U.S. government or any other federal government entity. 1 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document SUNAMERICA SERIES TRUST July 31, 2009 EXPENSE EXAMPLE (unaudited) Disclosure of Portfolio Expenses in Shareholder Reports As a shareholder of a Portfolio in the SunAmerica Series Trust (the Trust), you incur ongoing costs, including management fees; distribution and/or service (12b-1) fees; and other Portfolio expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Portfolios and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at February 1, 2009 and held until July 31, 2009. Shares of the Trust are not offered directly to the public. Instead, shares are currently issued and redeemed only in connection with investments in and payments under variable annuity contracts and variable life insurance policies (Variable Contracts) offered by life insurance companies affiliated with SunAmerica Asset Management Corp., the Trusts investment adviser and manager. The fees and expenses associated with the Variable Contracts are not included in these Examples, and had such fees and expenses been included your costs would have been higher. Please see your variable contract prospectus for more details on the fees associated with the variable contract. Actual Expenses The Actual section of the table provides information about your actual account values and actual expenses. You may use the information in these columns, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000