SAST Statutory Prospectus (M3179ST.7) ... in common and preferred stocks of U.S. companies. ......

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Transcript of SAST Statutory Prospectus (M3179ST.7) ... in common and preferred stocks of U.S. companies. ......

  • PROSPECTUS May 1, 2017

    SUNAMERICA SERIES TRUST (Class 1, Class 2 and Class 3 Shares)

    Aggressive Growth Portfolio Balanced Portfolio

    Blue Chip Growth Portfolio Capital Growth Portfolio Corporate Bond Portfolio

    “Dogs” of Wall Street Portfolio Emerging Markets Portfolio

    Equity Opportunities Portfolio Foreign Value Portfolio

    Fundamental Growth Portfolio Global Bond Portfolio

    Global Equities Portfolio Growth-Income Portfolio

    Growth Opportunities Portfolio High-Yield Bond Portfolio

    International Diversified Equities Portfolio International Growth and Income Portfolio

    Mid-Cap Growth Portfolio Real Estate Portfolio

    SA AB Growth Portfolio SA BlackRock VCP Global Multi Asset Portfolio

    SA Janus Focused Growth Portfolio (formerly, SA Marsico Focused Growth Portfolio) SA JPMorgan MFS Core Bond Portfolio

    SA Large Cap Index Portfolio (formerly, Equity Index Portfolio) SA Legg Mason BW Large Cap Value Portfolio

    SA MFS® Massachusetts Investors Trust Portfolio SA MFS® Total Return Portfolio

    SA Schroders VCP Global Allocation Portfolio SA T. Rowe Price VCP Balanced Portfolio

    Small & Mid Cap Value Portfolio Small Company Value Portfolio

    SunAmerica Dynamic Allocation Portfolio SunAmerica Dynamic Strategy Portfolio

    Technology Portfolio Telecom Utility Portfolio

    Ultra Short Bond Portfolio VCP Total Return BalancedSM Portfolio

    VCPSM Value Portfolio

    This Prospectus contains information you should know before investing, including information about risks. Please read it before you invest and keep it for future reference.

    The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this Prospectus. Any representation to the contrary is a criminal offense.

  • Topic Page

    Portfolio Summaries ................................................................................................................................................................ 1 Aggressive Growth Portfolio .......................................................................................................................................... 1 Balanced Portfolio .......................................................................................................................................................... 4 Blue Chip Growth Portfolio............................................................................................................................................ 8 Capital Growth Portfolio ................................................................................................................................................ 11 Corporate Bond Portfolio ............................................................................................................................................... 14 “Dogs” of Wall Street Portfolio ...................................................................................................................................... 18 Emerging Markets Portfolio ........................................................................................................................................... 20 Equity Opportunities Portfolio ....................................................................................................................................... 23 Foreign Value Portfolio................................................................................................................................................... 26 Fundamental Growth Portfolio ....................................................................................................................................... 29 Global Bond Portfolio .................................................................................................................................................... 32 Global Equities Portfolio ................................................................................................................................................ 36 Growth-Income Portfolio................................................................................................................................................ 39 Growth Opportunities Portfolio...................................................................................................................................... 41 High-Yield Bond Portfolio ............................................................................................................................................. 44 International Diversified Equities Portfolio ................................................................................................................... 47 International Growth and Income Portfolio.................................................................................................................... 50 Mid-Cap Growth Portfolio.............................................................................................................................................. 53 Real Estate Portfolio ....................................................................................................................................................... 56 SA AB Growth Portfolio ................................................................................................................................................ 59 SA BlackRock VCP Global Multi Asset Portfolio ......................................................................................................... 62 SA Janus Focused Growth Portfolio (formerly, SA Marsico Focused Growth Portfolio) .............................................. 68 SA JPMorgan MFS Core Bond Portfolio ....................................................................................................................... 71 SA Large Cap Index Portfolio (formerly, Equity Index Portfolio) ................................................................................. 77 SA Legg Mason BW Large Cap Value Portfolio ........................................................................................................... 80 SA MFS® Massachusetts Investors Trust Portfolio........................................................................................................ 83 SA MFS® Total Return Portfolio.................................................................................................................................... 86 SA Schroders VCP Global Allocation Portfolio............................................................................................................. 90 SA T. Rowe Price VCP Balanced Portfolio .................................................................................................................... 96 Small & Mid Cap Value Portfolio................................................................................................................................... 100 Small Company Value Portfolio ..................................................................................................................................... 103 SunAmerica Dynamic Allocation Portfolio.................................................................................................................... 106 SunAmerica Dynamic Strategy Portfolio ....................................................................................................................... 113 Technology Portfolio ...................................................................................................................................................... 120 Telecom Utility Portfolio ................................................................................................................................................ 124 Ultra Short Bond Portfolio (Formerly, Cash Management Portfolio)........................................................................................................................ 128 VCP Total Return BalancedSM Portfolio ........................................................................................................................ 131 VCPSM Value Portfolio ................................................................................................................................................... 137

    Important Additional Information ........................................................................................................................................... 142 Additional Information About the Portfolios’ Investment Strategies and Investment Risks (Other than the SunAmerica

    Dynamic Allocation Portfolio and SunAmerica Dynamic Strategy Portfolio) .................................................................... 143 Additional Information About the SunAmerica Dynamic Allocation Portfolio and SunAmerica Dynamic Strategy

    Portfolio................................................................................................................................................................................ 149 Glossary ................................................................................................................................................................................... 152

    Investment Terminology ................................................................................................................................................. 152 Risk Terminology............................................................................................................................................................ 157 Additional Information About Derivatives Risks ........................................................................................................... 167 About the Indices................................