VHYLX VALIC Company I High Yield Bond Forecast, Technical & Fundamental Analysis

The investment seeks highest possible total return and income consistent with conservation of capital through investment in a diversified portfolio of high yielding, high risk fixed-income securities. At least 80% of the fund's net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities. These securities are rated below Baa3 by Moody's or BBB- by S&P or determined to be of comparable quality by the subadviser. Up to 15% of the fund's net assets can be rated below Caa3 by Moody's or CCC- by S&P or its equivalent rating by another Nationally Recognized Statistical Ratings Organization.