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

• Asset Type - Asset Allocation
• Holdings (PDF 24 KB)
• Fund Fact Sheet - Class A&B (PDF 119 KB) and R1,R2,R3 (PDF 105 KB)
• Quarterly Commentary (PDF 47 KB)
• Learn More

*The inception date for Class A&B is 5/01/06, the inception date for Class R1, R2, and R3 is 09/13/04, and the inception date for Legacy Class A&B is 05/09/03.

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.

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.

⁵Barclays Global Fund Advisors, the investment adviser to the LifePath Master Portfolios, has contractually agreed to waive certain management fees. This contractual waiver extends through April 30, 2009.

Investor profile: Based strictly on statistical considerations, you would want to invest in the LifePath Fund corresponding to the year when you expect to begin withdrawing your investment (2010, 2020, etc.). But statistical considerations alone may not govern your investment decision, and the five LifePath Funds allow for that too. If you are willing to assume greater risk in exchange for the possibility of higher returns, you might direct some or all of your assets to a LifePath Fund with a longer time horizon. If you desire a more conservative investment, and are willing to forego some potential returns, you might direct some or all of your assets to a LifePath Fund with a shorter time horizon.

Investment objective: Seeks income and moderate long-term growth of capital.

Investment strategy: State Farm LifePath Income Fund is designed for investors seeking income and moderate long-term growth of capital. As of December 31, 2005, the State Farm LifePath Income Fund intends to hold about 35% of its assets in the underlying stock funds, 65% of its assets in the underlying bond funds and the rest of its assets in the underlying money market fund.

The LifePath Funds pursue a common strategy of allocating and reallocating among the Underlying Funds. The LifePath Funds with longer time horizons invest a greater portion of their assets in Underlying Funds that invest in stocks, which provide a greater opportunity for capital appreciation over the long-term. The LifePath Funds with shorter time horizons invest a greater portion of their assets in Underlying Funds that invest in bonds and money market instruments, which typically offer reduced risk and price volatility. The LifePath Funds with shorter time horizons, accordingly, have lower expected returns than the LifePath Funds with longer time horizons.

Each LifePath Master Portfolio invests in a combination of stock, bond and short-term money market funds (the Underlying Funds) in proportions suggested by its own comprehensive asset allocation investment strategy that gradually becomes more conservative as the year in the LifePath Fund's name approaches, except for the LifePath Retirement Master Portfolio that is already in its most conservative phase.

Please read the Prospectus for more detailed information on expenses.

Risks

• Stock Investment Risk
• Bond Investment Risk
• Risks of Foreign Investment
• Model Risk

LifePath Fund investments are not bank deposits or obligations of any other insured depository institution. They are not guaranteed or endorsed by the Federal Deposit Insurance Corporation or any other government agency.

State Farm VP Management Corp Risk/Important Disclosures. State Farm Mutual Funds Prospectus. The State Farm College Savings Plan Enrollment Handbook (PDF 269 KB) .

Need Assistance? 1-800-447-4930

AP2008/07/0791