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AIMR Composite Descriptions
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Composite Portfolios

Advantus Full Duration Fixed Income Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million managed in a full duration fixed income style. The Full Duration Fixed Income Composite focuses on U.S. Treasury and agency securities, corporate bonds and mortgage securities. This total return style typically has an average duration between 3.5 and 5.5 years. The style involves the active management of security selection, portfolio duration, structure and sector allocation; it is managed against the Lehman Aggregate Bond Index.

Advantus Intermediate Duration Fixed Income Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million managed in an intermediate duration style. The Intermediate Duration Fixed Income Composite focuses on U.S. Treasury and agency securities and corporate bonds. This total return style typically has an average duration between 3 and 4.5 years. The style involves the active management of security selection, portfolio duration, structure and sector allocation; it is managed against the Lehman Intermediate Government/Credit Index.

Advantus Intermediate Government/Mortgage Fixed Income Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $10 million managed in an intermediate government and mortgage fixed income style. The style is managed against a blended index made up of 80% Lehman Intermediate Government Index and 20% Lehman 15 year Mortgage-backed Securities Index.

Advantus Investment Grade Corporate and Mortgage Fixed Income Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million managed in an investment grade corporate and mortgage fixed income style. The style involves the active management of security selection, portfolio duration, structure, and sector allocation; and is managed against a custom index made up of the U.S. portfolio of the Lehman Brothers Global Aggregate (ex government and sovereign securities).

Advantus Money Market Securities Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $1 million managed in a money market style. The Money Market Securities Composite focuses on short-term debt instruments either issued by the U.S. Government or by very large corporations. The style is managed against the 3-Month Treasury Bill Index.

Advantus Mortgage Securities Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million, currently two registered investment companies, managed in a mortgage security fixed income style. The Mortgage Securities Fixed Income Composite focuses on mortgage-related securities. A major portion of its assets are in investment-grade securities representing interests in pools of mortgage loans. It also may invest in a variety of other mortgage-related securities. The style involves the active management of security selection, portfolio duration, structure and sector allocation; it is managed against the Lehman Mortgage Index.

Advantus NASDAQ 100 Index Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $5 million that are passively managed against the Nasdaq 100 Index, an index made up of the 100 largest non-financial stocks in the Nasdaq Composite. Under normal conditions, the accounts in this composite invest their assets in all of the common stocks included in the Nasdaq 100.

Advantus Real Estate Securities Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $10 million, including two registered investment companies, which emphasize real estate related investments. The Real Estate Securities Equity Composite focuses on public REITs and public real estate securities. In selecting securities, factors such as an issuer's financial condition, financial performance, policies and strategies and competitive market condition are considered. The style typically invests in companies with market capitalizations in excess of $500 million and is managed against the Dow Jones Wilshire Real Estate Securities Index.

Advantus S&P 400 Index Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million that are passively managed against the S&P 400 Index. Under normal conditions, the accounts in this composite invest their assets in all of the common stocks included in the S&P 400.

Advantus S&P 500 Index Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million that are passively managed against the S&P 500 Index. Under normal conditions, the accounts in this composite invest their assets in all of the common stocks included in the S&P 500.

Advantus S&P BARRA Growth Index Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million that are passively managed against the S&P/BARRA Growth Index. The index is comprised of stocks of the S&P 500 with greater than average price to book value ratios. Under normal conditions, the accounts in this composite invest their assets in all of the common stocks included in the S&P/BARRA Growth Index.

Advantus S&P BARRA Value Index Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million that are passively managed against the S&P/BARRA Value Index, a diversified index consisting of large U.S. companies. The index is comprised of stocks of the S&P 500 with lower than average price to book value ratios. Under normal conditions, the accounts in this composite invest their assets in all of the common stocks included in the S&P/BARRA Value Index.

Advantus Short Duration Fixed Income Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $20 million managed in a short duration fixed income style. The Short Duration Fixed Income Composite focuses on U.S. Government and agency securities, corporate bonds and mortgage securities. This total return style typically has an average duration of one year. The style involves the active management of security selection, portfolio duration, structure and sector allocation; and is managed against the Lehman Short 9-12 Month Treasury Index.

Advantus Specific Maturity Strip Treasuries Composite
The composite consists of all fully discretionary, fee-paying accounts greater than $4 million managed in a maturing government bond style. The Specific Maturity Strip Treasuries Composite primarily invests in debt securities issued by the U.S. government and its agencies that are stripped of their unmatured interest coupons.

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