** Only available to shareholders with account registrations established prior to 5/01/06.

• Asset Type -- Stocks & Bonds
• Fund Fact Sheet - Class A&B (PDF 59 KB) and R1,R2,R3 (PDF 45 KB)
  
  

*The inception date for Class A&B is 5/01/06. The inception date for Class R1, R2, and R3 is 09/13/04. The inception date for Legacy Class A&B is 12/18/00.

View total returns current to the most recent month-end.

This performance data represents past performance and does not guarantee future results. There is no guarantee that the circumstances leading to this performance will be replicated in the future. Investment return and principal value will fluctuate and fund shares, when redeemed, may be worth less than their original cost. Recent performance may be less than the figures shown.

Year-to-date and since inception total return are the compounded rate of change in value during a period of investment, including the value of shares acquired through reinvestment of all dividends and of all capital gain distributions for the period. These figures are based on an investment at the beginning of the period through the end of the period and reflect all applicable fees and expenses, including a maximum sales charge of 3% for Legacy A shares and maximum contingent deferred sales charges on Legacy B shares of 3% during year one, 2.75% in year two, 2.75% in year three, 2.50% in year four, 2.00% in year five, 1.00% in year six, and 0% in year seven. For Class A and B shares, figures are based on a maximum sales charge of 5% for Class A shares and maximum contingent deferred sales charges on Class B shares of 5% during year one, 4.25% in year two, 3.50% in year three, 2.75% in year four, 2.00% in year five, 1.00% in year six, and 0% in year seven as applicable. Neither the Class A Money Market Fund nor the Legacy Class A Money Market Fund has a sales load. NAV Total Return does not include any initial sales charge or contingent deferred sales charge. Class R shares do not include a sales charge.

Net Asset Value (NAV) is calculated by adding all of the assets of a fund, subtracting the fund’s liabilities, then dividing by the number of outstanding shares. A separate NAV is calculated for each class of each fund. NAV is calculated at the close of each business day.

The 30-day SEC Yield is the net investment income per share for the 30-day period as of the most recent calendar quarter ended divided by the maximum public offering price for A shares, including a maximum 3% sales charge, or by the net asset value for B shares at the end of the period and annualizing the result. B shares have a maximum contingent deferred sales charge (CDSC) of 3%. The 30-day SEC Yield quoted for B shares does not include the CDSC. If the CDSC were included, the 30-day SEC Yield quoted for B shares would have been lower.

¹ For the time period prior to May 1, 2006, the performance data quoted in this report for State Farm Class A shares is the performance for the Legacy Class A shares adjusted to include the maximum sales charge associated with Class A shares. Legacy Class A shares and Class A shares are comprised of the same underlying securities portfolio and have the same investment objectives and annual operating expenses. Legacy Class A shares have a maximum sales load of 3.00%. Class A shares have a maximum sales load of 5.00% except for the Bond Fund and the Tax Advantaged Bond Fund, which have a maximum sales load of 3.00%. Neither the Class A Money Market Fund nor the Legacy Class A Money Market Fund have a sales load. Class A shares have an inception date of May 1, 2006. Legacy Class A shares have an inception date of December 18, 2000, except for LifePath®  Funds, which have an inception date of May 9, 2003.

² For the time period prior to May 1, 2006, the performance data quoted in this report for State Farm Class B shares is the performance for the Legacy Class B shares adjusted to include the higher contingent deferred sales charges and the higher 12b-1 fees associated with Class B shares. Legacy Class B shares and Class B shares are comprised of the same underlying securities portfolio and have the same investment objectives and annual operating expenses, except for 12b-1 fees. The annual 12b-1 fee for Legacy Class B shares is .65% for all the funds except the Money Market Fund which is .55%.  The annual 12b-1 fee for Class B shares is .95% for all the funds except the Bond Fund and Tax Advantaged Bond Fund which are .65% and the Money Market Fund which is .55%.  Class B shares have an inception date of May 1, 2006. Legacy Class B shares have an inception date of December 18, 2000 except for LifePath® Funds, which have an inception date of May 9, 2003.

³ For the time period prior to September 13, 2004, the performance data quoted in this report for State Farm Class R-1, R-2, and R-3 shares is the performance for the Legacy Class A shares adjusted for annual expenses associated with Class R-1, R-2, and R-3 shares. Class R-1, R-2, and R-3 shares are comprised of the same underlying securities portfolio and have the same investment objectives as Legacy Class A shares. Class R-1, R-2, and R-3 shares have an inception date of September 13, 2004. Legacy Class A shares have an inception date of December 18, 2000, except for the LifePath® Funds, which have an inception date of May 9, 2003.

⁴State Farm Investment Management Corp., the investment adviser for each fund, has voluntarily agreed to reimburse each fund for certain annual operating expenses. This agreement may be eliminated at any time.

⁵State Farm Investment Management Corp. has agreed to waive certain fees for the Equity and Bond Fund. State Farm Investment Management Corp. has agreed to reimburse the Equity and Bond Fund for certain expenses incurred by the Fund. This expense reimbursement and waiver is voluntary and may be eliminated at any time.

Investor profile: You may want to invest in the Equity and Bond Fund if you are seeking long-term growth potential, some current income, and/or the convenience of a balanced portfolio of stocks and bonds in a single investment. You can open an account in this fund with a minimum initial investment of $250 ($50 by automatic investment).

You may not want to invest in the Equity and Bond Fund if you have a short term investment horizon, want the greater growth potential of an investment entirely in equity securities, or are unwilling to accept share price fluctuations.

Investment objective: Seeks long-term growth of principal while providing some current income.

Investment strategy: The Equity and Bond Fund invests all of its assets in shares of the State Farm Equity Fund and the State Farm Bond Fund. Generally, the Equity and Bond Fund attempts to maintain approximately 60% of its net assets in shares of the State Farm Equity Fund and approximately 40% of its net assets in shares of the State Farm Bond Fund. The Equity and Bond Fund never invests more than 75% of its net assets in either underlying Fund. Though the Equity and Bond Fund is not an asset allocation or market timing mutual fund, it does, from time to time, adjust the amount of its assets invested in each underlying Fund as economic, market and financial conditions warrant. Please refer to the descriptions of the investments of the State Farm Equity Fund and the State Farm Bond Fund for a discussion of the portfolio securities of these Funds and the risks associated with each.

Please read the Prospectus for more detailed information on expenses.

Risks
In general, because the Equity and Bond Fund invests all of its assets in the State Farm Equity Fund and the State Farm Bond Fund, the risks of investing in the Equity and Bond Fund are the same as investing in those underlying funds.

• Market risk
• Foreign investing risk
• Interest rate risk
• Income risk
• Credit risk
• Management risk

An investment in the Equity and Bond Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or any other government agency. You can lose money by investing in the Fund.

State Farm VP Management Corp Risk/Important Disclosures. State Farm Mutual Funds Prospectus. The State Farm College Savings Plan Enrollment Handbook (PDF 260 KB) .

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AP2008/04/0257