<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
PERFORMANCE SUMMARY
These performance results do not reflect any applicable surrender charges or
contract charges. Past performance is no guarantee of future results.
<TABLE>
<CAPTION>
Unit Value
----------------------------------- Percent Change
December 31, 1999 June 30, 2000 in Unit Value
----------------- ---------------- --------------
<S> <C> <C> <C>
FUTURITY CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund........ $16.0639 $17.2666 7.49%
V.I. Growth Fund...................... 16.6782 17.3745 4.18
V.I. Growth and Income Fund........... 14.9550 15.0162 0.41
V.I. International Equity Fund........ 16.8153 14.8860 (11.47)
The Alger American Fund
Growth Portfolio...................... 16.6799 17.1426 2.77
Income and Growth Portfolio........... 16.6354 17.4182 4.71
Small Capitalization Portfolio........ 14.6937 14.5897 (0.71)
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund.... 14.6906 15.0417 2.39
VIT-SM- CORE Small Cap Equity Fund.... 10.3704 10.6776 2.96
VIT-SM- CORE US Equity Fund........... 13.8599 13.6165 (1.76)
Growth and Income Fund................ 9.6158 9.6196 0.04
International Equity Fund............. 13.6576 13.3476 (2.27)
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio..... 12.6575 12.3933 (2.09)
International Opportunities
Portfolio............................ 12.4536 11.8819 (4.59)
Small Company Portfolio............... 11.8980 11.6034 (2.48)
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio........... 11.6064 11.2922 (2.71)
MFS/Sun Life Series Trust
Capital Appreciation Series........... 14.8787 15.7045 5.55
Emerging Growth Series................ 21.1132 20.6223 (2.33)
High Yield Series..................... 10.1846 10.1265 (0.57)
Money Market Series................... 10.6449 10.8654 2.07
Utilities Series...................... 13.4418 13.8803 3.26
Government Securities Series.......... 10.2352 10.5952 3.52
OCC Accumulation Trust
Equity Portfolio...................... 10.6854 9.9959 (6.45)
Mid Cap Portfolio..................... 11.6402 13.3298 14.52
Small Cap Portfolio................... 7.9927 8.9920 12.50
Salomon Brothers Variable
Series Funds, Inc.
Variable Capital Fund................. 13.0553 15.1001 15.66
Variable Investors Fund............... 11.2585 12.2047 8.40
Variable Strategic Bond Fund.......... 10.3875 10.5720 1.78
Variable Total Return Fund............ 10.0870 10.3307 2.42
Warburg Pincus Trust
Emerging Markets Portfolio............ 13.1613 11.9826 (8.96)
International Equity Portfolio........ 13.7221 12.4358 (9.37)
Post-Venture Capital Portfolio........ 14.8836 15.5174 4.26
Small Company Growth Portfolio........ 14.7515 15.0016 1.70
</TABLE>
1
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
PERFORMANCE SUMMARY -- continued
These performance results do not reflect any applicable surrender charges or
contract charges. Past performance is no guarantee of future results.
<TABLE>
<CAPTION>
Unit Value
----------------------------------- Percent Change
December 31, 1999 June 30, 2000 in Unit Value
----------------- ---------------- --------------
<S> <C> <C> <C>
FUTURITY II CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund........ $16.1116 $17.3162 7.48%
V.I. Growth Fund...................... 15.1070 15.7361 4.16
V.I. Growth and Income Fund........... 14.6474 14.7059 0.40
V.I. International Equity Fund........ 16.1369 14.2840 (11.48)
The Alger American Fund
Growth Portfolio...................... 14.7688 15.1769 2.76
Income and Growth Portfolio........... 15.4887 16.2160 4.70
Small Capitalization Portfolio........ 16.0647 15.9495 (0.72)
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund.... 14.6991 15.0489 2.38
VIT-SM- CORE Small Cap Equity Fund.... 12.5954 12.9671 2.95
VIT-SM- CORE US Equity Fund........... 13.2821 13.0475 (1.77)
Growth and Income Fund................ 10.7721 10.7753 0.03
International Equity Fund............. 13.7806 13.4665 (2.28)
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio..... 12.5201 12.2575 (2.10)
International Opportunities
Portfolio............................ 14.1565 13.5053 (4.60)
Small Company Portfolio............... 15.4528 15.0687 (2.49)
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio........... 12.1973 11.8659 (2.72)
MFS/Sun Life Series Trust
Capital Appreciation Series........... 14.5469 15.3528 5.54
Emerging Growth Series................ 19.5404 19.0842 (2.33)
High Yield Series..................... 10.5249 10.4638 (0.58)
Utilities Series...................... 13.6365 14.0800 3.25
Government Securities Series.......... 9.6303 9.9681 3.51
Total Return Series................... 9.7515 9.9577 2.11
Massachsetts Investors Trust Series... 10.3311 10.3322 0.01
New Discovery Series.................. 15.7992 17.2847 9.40
Massachusetts Investors Growth Stock
Series............................... 12.7880 13.1702 2.99
OCC Accumulation Trust
Equity Portfolio...................... 10.6953 10.0042 (6.46)
Mid Cap Portfolio..................... 12.7334 14.5803 14.50
Small Cap Portfolio................... 10.0200 11.2715 12.49
Managed Portfolio..................... 10.9043 10.5047 (3.66)
Sun Capital Advisers Trust
Sun Capital Money Market Fund......... 10.3353 10.5432 2.01
Sun Capital Investment Grade Bond
Fund................................. 9.7835 10.0470 2.69
Sun Capital Real Estate Fund.......... 9.5549 11.0639 15.79
Sun Capital Select Equity Fund........ 12.4016 12.7266 2.62
Sun Capital Blue Chip Mid Cap Fund.... 12.4368 14.7586 18.67
Sun Capital Investors Foundation
Fund................................. 10.9954 11.0516 0.51
Warburg Pincus Trust
Emerging Markets Portfolio............ 18.7689 17.0862 (8.97)
International Equity Portfolio........ 15.6899 14.2177 (9.38)
Post-Venture Capital Portfolio........ 18.1439 18.9147 4.25
Small Company Growth Portfolio........ 18.4977 18.8095 1.69
</TABLE>
2
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
PERFORMANCE SUMMARY -- continued
These performance results do not reflect any applicable surrender charges or
contract charges. Past performance is no guarantee of future results.
<TABLE>
<CAPTION>
Unit Value
----------------------------------- Percent Change
December 31, 1999 June 30, 2000 in Unit Value
----------------- ---------------- --------------
<S> <C> <C> <C>
FUTURITY FOCUS CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund........ $14.5809 $15.6919 7.62%
V.I. Growth Fund...................... 12.6718 13.2171 4.30
V.I. Growth and Income Fund........... 12.3530 12.4187 0.53
V.I. International Equity Fund........ 15.4607 13.7037 (11.36)
The Alger American Fund
Growth Portfolio...................... 11.9744 12.3217 2.90
Income and Growth Portfolio........... 13.3063 13.9496 4.83
Small Capitalization Portfolio........ 14.3935 14.3093 (0.58)
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund.... 12.6110 12.9282 2.52
VIT-SM- CORE Small Cap Equity Fund.... 12.6115 13.0010 3.09
VIT-SM- CORE US Equity Fund........... 11.4782 11.2872 (1.66)
Growth and Income Fund................ 10.2122 10.2288 0.16
International Equity Fund............. 12.8408 12.5647 (2.15)
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio..... 11.3541 11.1308 (1.97)
International Opportunities
Portfolio............................ 12.9528 12.3734 (4.47)
Small Company Portfolio............... 15.2351 14.8762 (2.36)
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio........... 11.1378 10.8496 (2.59)
MFS/Sun Life Series Trust
Capital Appreciation Series........... 13.0937 13.8375 5.68
Emerging Growth Series................ 16.8156 16.4448 (2.21)
High Yield Series..................... 10.1744 10.1288 (0.45)
Utilities Series...................... 12.9391 13.3777 3.39
Government Securities Series.......... 9.8048 10.1622 3.65
Total Return Series................... 9.7678 9.9876 2.25
Massachsetts Investors Trust Series... 10.3484 10.3631 0.14
New Discovery Series.................. 15.8255 17.3364 9.55
Massachusetts Investors Growth Stock
Series............................... 12.8093 13.2096 3.13
OCC Accumulation Trust
Equity Portfolio...................... 10.1788 9.5337 (6.34)
Mid Cap Portfolio..................... 12.5548 14.3950 14.66
Small Cap Portfolio................... 10.7094 12.0631 12.64
Managed Portfolio..................... 10.3195 9.9545 (3.54)
Sun Capital Advisers Trust
Sun Capital Money Market Fund......... 10.2760 10.4967 2.15
Sun Capital Investment Grade Bond
Fund................................. 9.8082 10.0858 2.83
Sun Capital Real Estate Fund.......... 10.1759 11.7986 15.95
Sun Capital Select Equity Fund........ 12.4115 12.7536 2.76
Sun Capital Blue Chip Mid Cap Fund.... 12.4467 14.7900 18.83
Sun Capital Investors Foundation
Fund................................. 11.0042 11.0751 0.64
Warburg Pincus Trust
Emerging Markets Portfolio............ 18.4283 16.7985 (8.84)
International Equity Portfolio........ 15.0418 13.6486 (9.26)
Post-Venture Capital Portfolio........ 16.0808 16.7863 4.39
Small Company Growth Portfolio........ 17.6963 18.0186 1.82
</TABLE>
3
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
PERFORMANCE SUMMARY -- continued
These performance results do not reflect any applicable surrender charges or
contract charges. Past performance is no guarantee of future results.
<TABLE>
<CAPTION>
Unit Value
----------------------------------- Percent Change
December 31, 1999 June 30, 2000 in Unit Value
----------------- ---------------- --------------
<S> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund --
Level 1.............................. $13.7461 $14.7702 7.45%
V.I. Capital Appreciation Fund --
Level 2.............................. 12.4149* 14.7654 18.93
V.I. Capital Appreciation Fund --
Level 3.............................. 12.4149* 14.7623 18.91
V.I. Capital Appreciation Fund --
Level 4.............................. 12.4149* 14.7576 18.87
V.I. Growth Fund -- Level 1........... 12.6219 13.1442 4.14
V.I. Growth Fund -- Level 2........... 11.7270* 13.1400 12.05
V.I. Growth Fund -- Level 3........... 11.7270* 13.1372 12.03
V.I. Growth Fund -- Level 4........... 11.7270* 13.1330 11.99
V.I. Growth and Income Fund -- Level
1.................................... 12.7245 12.7722 0.37
V.I. Growth and Income Fund -- Level
2.................................... 11.6161* 12.7681 9.92
V.I. Growth and Income Fund -- Level
3.................................... 11.6161* 12.7654 9.89
V.I. Growth and Income Fund -- Level
4.................................... 11.6161* 12.7613 9.86
V.I. International Equity Fund --
Level 1.............................. 13.8416 12.2492 (11.50)
V.I. International Equity Fund --
Level 2.............................. 12.0281* 12.2452 1.80
V.I. International Equity Fund --
Level 3.............................. 12.0281* 12.2426 1.78
V.I. International Equity Fund --
Level 4.............................. 12.0281* 12.2386 1.75
The Alger American Fund
Growth Portfolio -- Level 1........... 12.4941 12.8362 2.74
Growth Portfolio -- Level 2........... 11.6609* 12.8321 10.04
Growth Portfolio -- Level 3........... 11.6609* 12.8293 10.02
Growth Portfolio -- Level 4........... 11.6609* 12.8252 9.98
Income and Growth Portfolio -- Level
1.................................... 13.9651 14.6171 4.67
Income and Growth Portfolio -- Level
2.................................... 12.7910* 14.6124 14.24
Income and Growth Portfolio -- Level
3.................................... 12.7910* 14.6093 14.22
Income and Growth Portfolio -- Level
4.................................... 12.7910* 14.6046 14.18
Small Capitalization Portfolio --
Level 1.............................. 13.3871 13.2878 (0.74)
Small Capitalization Portfolio --
Level 2.............................. 10.9570* 13.2835 21.23
Small Capitalization Portfolio --
Level 3.............................. 10.9570* 13.2807 21.21
Small Capitalization Portfolio --
Level 4.............................. 10.9570* 13.2764 21.17
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund --
Level 1.............................. 12.6147 12.9116 2.35
VIT-SM- CORE Large Cap Growth Fund --
Level 2.............................. 11.4407* 12.9075 12.82
VIT-SM- CORE Large Cap Growth Fund --
Level 3.............................. 11.4407* 12.9048 12.80
VIT-SM- CORE Large Cap Growth Fund --
Level 4.............................. 11.4407* 12.9006 12.76
VIT-SM- CORE Small Cap Equity Fund --
Level 1.............................. 12.0375 12.3896 2.93
VIT-SM- CORE Small Cap Equity Fund --
Level 2.............................. 10.7429* 12.3857 15.29
VIT-SM- CORE US Equity Fund -- Level
1.................................... 11.7733 11.5625 (1.79)
VIT-SM- CORE US Equity Fund -- Level
2.................................... 10.8098* 11.5588 6.93
VIT-SM- CORE US Equity Fund -- Level
3.................................... 10.8098* 11.5563 6.91
Growth and Income Fund -- Level 1..... 11.2057 11.2062 0.00
Growth and Income Fund -- Level 2..... 10.5029* 11.2026 6.66
Growth and Income Fund -- Level 3..... 10.5029* 11.2002 6.64
</TABLE>
* Reflects unit value on the date of commencement of operations.
4
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
PERFORMANCE SUMMARY -- continued
These performance results do not reflect any applicable surrender charges or
contract charges. Past performance is no guarantee of future results.
<TABLE>
<CAPTION>
Unit Value
----------------------------------- Percent Change
December 31, 1999 June 30, 2000 in Unit Value
----------------- ---------------- --------------
<S> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS --
CONTINUED:
Goldman Sachs Variable Insurance Trust
-- continued
International Equity Fund -- Level
1.................................... $12.0983 $11.8195 (2.30)%
International Equity Fund -- Level
2.................................... 11.7644* 11.8157 0.44
International Equity Fund -- Level
3.................................... 11.7644* 11.8132 0.41
International Equity Fund -- Level
4.................................... 11.7644* 11.8094 0.38
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio --
Level 1.............................. 11.5320 11.2873 (2.12)
U.S. Disciplined Equity Portfolio --
Level 2.............................. 10.6562* 11.2837 5.89
U.S. Disciplined Equity Portfolio --
Level 3.............................. 10.6562* 11.2813 5.87
U.S. Disciplined Equity Portfolio --
Level 4.............................. 10.6562* 11.2777 5.83
International Opportunities
Portfolio -- Level 1................. 11.7681 11.2239 (4.62)
International Opportunities
Portfolio -- Level 2................. 10.9561* 11.2203 2.41
International Opportunities
Portfolio -- Level 3................. 10.9561* 11.2179 2.39
International Opportunities
Portfolio -- Level 4................. 10.9561* 11.2143 2.36
Small Company Portfolio -- Level 1.... 13.7122 13.3679 (2.51)
Small Company Portfolio -- Level 2.... 11.1243* 13.3637 20.13
Small Company Portfolio -- Level 3.... 11.1243* 13.3608 20.11
Small Company Portfolio -- Level 4.... 11.1243* 13.3565 20.07
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio -- Level
1.................................... 11.4167 11.1037 (2.74)
Growth and Income Portfolio -- Level
2.................................... 10.7634* 11.1001 3.13
Growth and Income Portfolio -- Level
3.................................... 10.7634* 11.0977 3.11
Growth and Income Portfolio -- Level
4.................................... 10.7634* 11.0942 3.07
MFS/Sun Life Series Trust
Capital Appreciation Series -- Level
1.................................... 13.4436 14.1848 5.51
Capital Appreciation Series -- Level
2.................................... 12.0357* 14.1802 17.82
Capital Appreciation Series -- Level
3.................................... 12.0357* 14.1772 17.79
Capital Appreciation Series -- Level
4.................................... 12.0357* 14.1727 17.76
Emerging Growth Series -- Level 1..... 15.8653 15.4910 (2.36)
Emerging Growth Series -- Level 2..... 13.8047* 154860 12.18
Emerging Growth Series -- Level 3..... 13.8047* 15.827 12.16
Emerging Growth Series -- Level 4..... 13.8047* 15.478 12.12
High Yield Series -- Level 1.......... 10.2886 10.2263 (0.61)
High Yield Series -- Level 2.......... 10.2294* 10.2231 (0.06)
High Yield Series -- Level 3.......... 10.2294* 10.2209 (0.08)
High Yield Series -- Level 4.......... 10.2294* 10.2176 (0.12)
Utilities Series -- Level 1........... 12.0305 12.4186 3.23
Utilities Series -- Level 2........... 11.9650* 12.4146 3.76
Utilities Series -- Level 3........... 11.9650* 12.4120 3.74
Utilities Series -- Level 4........... 11.9650* 12.4080 3.70
Government Securities Series -- Level
1.................................... 9.9962 10.3441 3.48
Government Securities Series -- Level
2.................................... 10.2957* 10.3408 0.44
Government Securities Series -- Level
3.................................... 10.2957* 10.3386 0.42
Total Return Series -- Level 1........ 10.4572 10.6757 2.09
Total Return Series -- Level 2........ 10.3967* 10.6722 2.65
Total Return Series -- Level 3........ 10.3967* 10.6700 2.63
Total Return Series -- Level 4........ 10.3967* 10.6665 2.60
Massachusetts Investors Trust
Series -- Level 1.................... 11.4114 11.4097 (0.01)
Massachusetts Investors Trust
Series -- Level 2.................... 10.6625* 11.4060 6.97
Massachusetts Investors Trust
Series -- Level 3.................... 10.6625* 11.4036 6.95
Massachusetts Investors Trust
Series -- Level 4.................... 10.6625* 11.3999 6.92
</TABLE>
* Reflects unit value on the date of commencement of operations.
5
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
PERFORMANCE SUMMARY -- continued
These performance results do not reflect any applicable surrender charges or
contract charges. Past performance is no guarantee of future results.
<TABLE>
<CAPTION>
Unit Value
----------------------------------- Percent Change
December 31, 1999 June 30, 2000 in Unit Value
----------------- ---------------- --------------
<S> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS --
continued:
MFS/Sun Life Series Trust -- continued
New Discovery Series -- Level 1....... $15.8588 $17.3454 9.37%
New Discovery Series -- Level 2....... 14.3519* 17.3399 20.82
New Discovery Series -- Level 3....... 14.3519* 17.3362 20.79
New Discovery Series -- Level 4....... 14.3519* 17.3306 20.75
Massachusetts Investors Growth Stock
Series -- Level 1.................... 13.1026 13.4907 2.96
Massachusetts Investors Growth Stock
Series -- Level 2.................... 12.2309* 13.4864 10.26
Massachusetts Investors Growth Stock
Series -- Level 3.................... 12.2309* 13.4835 10.24
Massachusetts Investors Growth Stock
Series -- Level 4.................... 12.2309* 13.4792 10.21
OCC Accumulation Trust
U.S. Disciplined Equity Portfolio --
Level 1.............................. 10.7137 10.0188 (6.49)
U.S. Disciplined Equity Portfolio --
Level 2.............................. 10.0367* 10.0156 (0.21)
U.S. Disciplined Equity Portfolio --
Level 3.............................. 10.0367* 10.0135 (0.23)
U.S. Disciplined Equity Portfolio --
Level 4.............................. 10.0367* 10.0103 (0.26)
Mid Cap Portfolio -- Level 1.......... 12.5624 14.3809 14.48
Mid Cap Portfolio -- Level 2.......... 12.8880* 14.3763 11.55
Mid Cap Portfolio -- Level 3.......... 12.8880* 14.3732 11.52
Mid Cap Portfolio -- Level 4.......... 12.8880* 14.3686 11.49
Small Cap Portfolio -- Level 1........ 10.5551 11.8705 12.46
Small Cap Portfolio -- Level 2........ 10.6431* 11.8667 11.50
Small Cap Portfolio -- Level 3........ 10.6431* 11.8642 11.47
Small Cap Portfolio -- Level 4........ 10.6431* 11.8604 11.44
Managed Portfolio -- Level 1.......... 10.5852 10.1947 (3.69)
Managed Portfolio -- Level 2.......... 10.1752* 10.1914 0.16
Managed Portfolio -- Level 3.......... 10.1752* 10.1892 0.14
Sun Capital Advisers Trust
Sun Capital Money Market Fund -- Level
1.................................... 10.0779 10.2781 1.99
Sun Capital Money Market Fund -- Level
2.................................... 10.1898* 10.2748 0.83
Sun Capital Money Market Fund -- Level
3.................................... 10.1898* 10.2726 0.81
Sun Capital Money Market Fund -- Level
4.................................... 10.1898* 10.2629 0.72
Sun Capital Investment Grade Bond
Fund -- Level 1...................... 10.0222 10.2895 2.67
Sun Capital Investment Grade Bond
Fund -- Level 2...................... 10.2204* 10.2862 0.64
Sun Capital Investment Grade Bond
Fund -- Level 3...................... 10.2204* 10.2840 0.62
Sun Capital Real Estate Fund -- Level
1.................................... 10.3018 11.9257 15.76
Sun Capital Real Estate Fund -- Level
2.................................... 11.1668* 11.9219 6.76
Sun Capital Real Estate Fund -- Level
3.................................... 11.1668* 11.9194 6.74
Sun Capital Real Estate Fund -- Level
4.................................... 11.1668* 11.9155 6.71
Sun Capital Select Equity Fund --
Level 1.............................. 13.5393 13.8906 2.59
Sun Capital Select Equity Fund --
Level 2.............................. 12.5750* 13.8861 10.43
Sun Capital Select Equity Fund --
Level 3.............................. 12.5750* 13.8832 10.40
Sun Capital Select Equity Fund --
Level 4.............................. 12.5750* 13.8787 10.37
Sun Capital Blue Chip Mid Cap Fund --
Level 1.............................. 13.2132 15.6761 18.64
Sun Capital Blue Chip Mid Cap Fund --
Level 2.............................. 13.3139* 15.6710 17.70
Sun Capital Blue Chip Mid Cap Fund --
Level 3.............................. 13.3139* 15.6677 17.68
Sun Capital Blue Chip Mid Cap Fund --
Level 4.............................. 13.3139* 15.6627 17.64
Sun Capital Investors Foundation
Fund -- Level 1...................... 11.9051 11.9629 0.49
Sun Capital Investors Foundation
Fund -- Level 2...................... 11.0518* 11.9591 8.21
Sun Capital Investors Foundation
Fund -- Level 3...................... 11.0518* 11.9565 8.19
</TABLE>
* Reflects unit value on the date of commencement of operations.
6
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000
<TABLE>
<CAPTION>
ASSETS: Shares Cost Value
Investments in: ---------- ------------ ------------
<S> <C> <C> <C>
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund
(AIM1).............................. 636,084 $ 21,403,397 $ 24,495,599
V.I. Growth Fund (AIM2)............. 1,438,353 44,125,694 48,659,475
V.I. Growth and Income Fund
(AIM3).............................. 1,581,913 45,783,752 50,526,316
V.I. International Equity Fund
(AIM4).............................. 1,628,036 41,392,711 42,508,019
The Alger American Fund
Growth Portfolio (AL1).............. 1,142,742 67,168,489 65,593,402
Income and Growth Portfolio (AL2)... 2,732,304 40,400,390 38,689,431
Small Capitalization Portfolio
(AL3)............................... 472,614 18,921,127 15,246,542
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund
(GS1)............................... 1,533,050 21,367,481 24,973,382
VIT-SM- CORE Small Cap Equity Fund
(GS2)............................... 320,104 3,180,022 3,517,940
VIT-SM- CORE US Equity Fund (GS3)... 1,497,225 19,451,390 20,706,621
Growth and Income Fund (GS4)........ 638,747 6,877,583 7,007,055
International Equity Fund (GS5)..... 559,477 7,812,980 7,966,953
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio
(JP1)............................... 1,253,725 21,092,435 20,774,215
International Opportunities
Portfolio (JP2)..................... 511,666 6,545,479 6,779,572
Small Company Portfolio (JP3)....... 359,738 5,726,509 5,737,828
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio (LA1)... 1,452,217 31,942,679 31,527,640
MFS/Sun Life Series Trust
Capital Appreciation
Series (CAS)........................ 475,000 22,200,754 23,678,742
Emerging Growth Series (EGS)........ 1,833,246 63,196,664 65,325,169
High Yield Series (HYS)............. 2,031,691 17,876,157 16,644,177
Money Market (MMS).................. 6,128,935 6,128,935 6,128,935
Utilities Series (UTS).............. 1,823,033 33,634,190 33,800,618
Government Securities
Series (GSS)........................ 1,755,482 21,886,621 21,392,325
Total Return Series (TRS)........... 429,711 7,829,297 7,451,171
Massachusetts Investors Trust
Series (MIT)........................ 533,191 19,216,634 18,841,693
New Discovery Series (NWD).......... 858,026 15,132,688 15,051,660
Massachusetts Investors Growth Stock
Series (MIS)........................ 1,744,000 27,141,253 27,948,623
OCC Accumulation Trust
Equity Portfolio (OP1).............. 621,198 20,538,776 19,213,645
Mid Cap Portfolio (OP2)............. 750,837 8,418,645 9,723,333
Small Cap Portfolio (OP3)........... 86,517 1,979,895 2,192,339
Managed Portfolio (OP4)............. 87,083 3,616,536 3,325,702
Salomon Brothers Variable
Series Funds, Inc.
Variable Capital Fund (SB1)......... 29,703 343,788 466,041
Variable Investors Fund (SB2)....... 44,259 510,668 590,853
Variable Strategic Bond Fund
(SB3)............................... 635,670 6,385,862 6,293,130
Variable Total Return Fund (SB4).... 417,481 4,419,657 4,404,427
Sun Capital Advisers Trust
Sun Capital Money Market Fund
(SCA1).............................. 17,895,682 17,895,682 17,895,682
Sun Capital Investment Grade Bond
Fund (SCA2)......................... 2,054,013 19,249,250 19,199,357
Sun Capital Real Estate Fund
(SCA3).............................. 276,156 2,608,519 2,880,322
Sun Capital Select Equity Fund
(SCA4).............................. 355,261 4,424,581 4,639,897
Sun Capital Blue Chip Mid Cap Fund
(SCA5).............................. 839,278 11,095,166 12,336,723
Sun Capital Investors Foundation
Fund (SCA6)......................... 145,064 1,556,945 1,643,683
Warburg Pincus Trust
Emerging Markets Portolio (WP1)..... 329,525 4,646,692 4,283,829
International Equity Portfolio
(WP2)............................... 128,858 1,849,097 1,963,788
Post-Venture Capital Portfolio
(WP3)............................... 91,432 1,701,634 1,848,771
Small Company Growth Portfolio
(WP4)............................... 202,542 5,347,948 5,434,205
------------ ------------
$754,024,652 $769,308,830
============
LIABILITY:
Payable to sponsor................................................ (47,420)
------------
Net Assets.................................................. $769,261,410
============
</TABLE>
See notes to financial statements
7
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------- Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------- ----------- ------------
<S> <C> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO CONTRACT OWNERS:
FUTURITY CONTRACTS:
AIM Variable Insurance Fund, Inc
V.I. Capital Appreciation Fund........... 261,387 $17.2666 $ 4,513,180 $ 21,470 $ 4,534,650
V.I. Growth Fund......................... 510,505 17.3745 8,869,645 15,977 8,885,622
V.I. Growth and Income Fund.............. 718,905 15.0162 10,795,093 -- 10,795,093
V.I. International Equity Fund........... 549,895 14.8860 8,185,427 15,999 8,201,426
The Alger American Fund
Growth Portfolio......................... 688,533 17.1426 11,803,296 19,675 11,822,971
Income and Growth Portfolio.............. 489,424 17.4182 8,524,690 -- 8,524,690
Small Capitalization Portfolio........... 205,329 14.5897 2,995,683 -- 2,995,683
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large-Cap Growth Fund....... 449,845 15.0417 6,766,313 30,264 6,796,577
VIT-SM- CORE Small Cap Equity Fund....... 82,377 10.6776 879,586 22,109 901,695
VIT-SM- CORE US Equity Fund.............. 541,067 13.6165 7,367,404 1,679 7,369,083
Growth and Income Fund................... 310,896 9.6196 2,990,666 -- 2,990,666
International Equity Fund................ 74,628 13.3476 996,125 14,301 1,010,426
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio........ 582,983 12.3933 7,223,532 15,468 7,239,000
International Opportunities Portfolio.... 98,891 11.8819 1,174,993 13,953 1,188,946
Small Company Portfolio.................. 45,279 11.6034 524,966 -- 524,966
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio.............. 663,733 11.2922 7,494,902 -- 7,494,902
MFS/Sun Life Series Trust
Capital Appreciation Series.............. 497,464 15.7045 7,812,512 18,757 7,831,269
Emerging Growth Series................... 755,793 20.6223 15,586,204 23,247 15,609,451
High Yield Series........................ 427,749 10.1265 4,331,572 29,218 4,360,790
Money Market............................. 564,157 10.8654 6,128,935 -- 6,128,935
Utilities Series......................... 769,926 13.8803 10,687,276 38,890 10,726,166
Government Securities Series............. 582,582 10.5952 6,173,043 38,609 6,211,652
OCC Accumulation Trust
Equity Portfolio......................... 660,604 9.9959 6,603,837 1,282 6,605,119
Mid Cap Portfolio........................ 352,012 13.3298 4,692,218 18,191 4,710,409
Small Cap Portfolio...................... 94,469 8.9920 849,543 13,882 863,425
Salomon Brothers Variable
Series Funds, Inc.
Variable Capital Fund.................... 30,864 15.1001 466,041 -- 466,041
Variable Investors Fund.................. 48,412 12.2047 590,853 -- 590,853
Variable Strategic Bond Fund............. 592,425 10.5720 6,262,884 29,272 6,292,156
Variable Total Return Fund............... 424,775 10.3307 4,388,201 15,516 4,403,717
Warburg Pincus Trust
Emerging Markets Portfolio............... 112,597 11.9826 1,348,861 17,205 1,366,066
International Equity Portfolio........... 68,864 12.4358 856,106 -- 856,106
Post-Venture Capital Portfolio........... 74,816 15.5174 1,160,962 22,933 1,183,895
Small Company Growth Portfolio........... 142,460 15.0016 2,137,103 -- 2,137,103
------------ -------- ------------
$171,181,652 $437,897 $171,619,549
------------ -------- ------------
</TABLE>
See notes to financial statements
8
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------- Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------- ----------- ------------
<S> <C> <C> <C> <C> <C>
FUTURITY II CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund........... 688,156 $17.3162 $ 11,916,206 $ 16,936 $ 11,933,142
V.I. Growth Fund......................... 1,862,226 15.7361 29,303,809 103,264 29,407,073
V.I. Growth and Income Fund.............. 2,098,030 14.7059 30,853,542 13,537 30,867,079
V.I. International Equity Fund........... 1,538,671 14.2840 21,977,974 137,281 22,115,255
The Alger American Fund
Growth Portfolio......................... 2,779,578 15.1769 42,185,490 49,155 42,234,645
Income and Growth Portfolio.............. 1,376,977 16.2160 22,328,803 136,336 22,465,139
Small Capitalization Portfolio........... 460,245 15.9495 7,340,667 73,427 7,414,094
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund....... 939,574 15.0489 14,139,433 84,787 14,224,220
VIT-SM- CORE Small Cap Equity Fund....... 156,169 12.9671 2,025,068 -- 2,025,068
VIT-SM- CORE US Equity Fund.............. 806,363 13.0475 10,520,760 76,321 10,597,081
Growth and Income Fund................... 262,212 10.7753 2,825,391 -- 2,825,391
International Equity Fund................ 276,027 13.4665 3,717,073 11,110 3,728,183
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio........ 962,538 12.2575 11,798,396 2,720 11,801,116
International Opportunities Portfolio.... 256,417 13.5053 3,463,083 13,428 3,476,511
Small Company Portfolio.................. 160,490 15.0687 2,418,247 7,910 2,426,157
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio.............. 1,587,093 11.8659 18,832,137 2,621 18,834,758
MFS/Sun Life Series Trust
Capital Appreciation Series.............. 770,130 15.3528 11,823,341 45,773 11,869,114
Emerging Growth Series................... 1,841,919 19.0842 35,145,301 85,886 35,231,187
High Yield Series........................ 873,491 10.4638 9,138,789 69,048 9,207,837
Utilities Series......................... 1,153,878 14.0800 16,246,533 148,259 16,394,792
Government Securities Series............. 1,294,695 9.9681 12,902,527 70,858 12,973,385
Total Return Series...................... 450,104 9.9577 4,482,196 76,839 4,559,035
Massachusetts Investors Trust Series..... 1,307,930 10.3322 13,513,302 17,818 13,531,120
New Discovery Series..................... 503,639 17.2847 8,705,048 7,409 8,712,457
Massachusetts Investors Growth Stock
Series.................................. 1,337,904 13.1702 17,619,770 77,951 17,697,721
OCC Accumulation Trust
Equity Portfolio......................... 1,092,476 10.0042 10,929,765 14,487 10,944,252
Mid Cap Portfolio........................ 209,657 14.5803 3,056,817 37,004 3,093,821
Small Cap Portfolio...................... 84,550 11.2715 952,992 7,130 960,122
Managed Portfolio........................ 272,794 10.5047 2,865,651 -- 2,865,651
Sun Capital Advisers Trust
Sun Capital Money Market Fund............ 1,108,827 10.5432 11,704,731 47,956 11,752,687
Sun Capital Investment Grade Bond Fund... 1,447,400 10.0470 14,541,043 314,460 14,855,503
Sun Capital Real Estate Fund............. 206,015 11.0639 2,280,093 4,971 2,285,064
Sun Capital Select Equity Fund........... 231,043 12.7266 2,940,238 1,418 2,941,656
Sun Capital Blue Chip Mid Cap Fund....... 546,110 14.7586 8,059,853 20,559 8,080,412
Sun Capital Investors Foundation Fund.... 116,067 11.0516 1,282,690 17,869 1,300,559
Warburg Pincus Trust
Emerging Markets Portfolio............... 165,962 17.0862 2,835,678 16,709 2,852,387
International Equity Portfolio........... 74,820 14.2177 1,063,764 1,696 1,065,460
Post-Venture Capital Portfolio........... 33,891 18.9147 641,033 8,211 649,244
Small Company Growth Portfolio........... 170,800 18.8095 3,212,645 5,720 3,218,365
------------ ---------- ------------
$431,589,879 $1,826,864 $433,416,743
------------ ---------- ------------
</TABLE>
See notes to financial statements
9
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------ Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------ ----------- -----------
<S> <C> <C> <C> <C> <C>
FUTURITY FOCUS CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund........... 52,847 $15.6919 $ 829,262 $ -- $ 829,262
V.I. Growth Fund......................... 83,472 13.2171 1,103,252 -- 1,103,252
V.I. Growth and Income Fund.............. 102,659 12.4187 1,274,869 70,344 1,345,213
V.I. International Equity Fund........... 66,666 13.7037 913,549 -- 913,549
The Alger American Fund
Growth Portfolio......................... 94,205 12.3217 1,160,750 70,944 1,231,694
Income and Growth Portfolio.............. 75,103 13.9496 1,047,645 -- 1,047,645
Small Capitalization Portfolio........... 33,875 14.3093 484,724 -- 484,724
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund....... 16,593 12.9282 214,506 -- 214,506
VIT-SM- CORE Small Cap Equity Fund....... 10,299 13.0010 133,895 -- 133,895
VIT-SM- CORE US Equity Fund.............. 33,172 11.2872 374,415 -- 374,415
Growth and Income Fund................... 32,368 10.2288 331,079 -- 331,079
International Equity Fund................ 44,133 12.5647 554,517 -- 554,517
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio 22,914 11.1308 255,047 59,856 314,903
International Opportunities Portfolio.... 36,084 12.3734 446,469 -- 446,469
Small Company Portfolio.................. 8,143 14.8762 121,144 -- 121,144
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio.............. 63,701 10.8496 691,124 -- 691,124
MFS/Sun Life Series Trust
Capital Appreciation Series.............. 40,568 13.8375 561,347 -- 561,347
Emerging Growth Series................... 86,006 16.4448 1,415,307 93,890 1,509,197
High Yield Series........................ 50,519 10.1288 511,647 -- 511,647
Utilities Series......................... 58,251 13.3777 780,187 -- 780,187
Government Securities Series............. 50,616 10.1622 514,394 -- 514,394
Total Return Series...................... 25,668 9.9876 256,306 -- 256,306
Massachusetts Investors Trust Series..... 94,222 10.3631 976,301 -- 976,301
New Discovery Series..................... 25,555 17.3364 443,003 -- 443,003
Massachusetts Investors Growth Stock
Series.................................. 83,833 13.2096 1,107,719 75,807 1,183,526
OCC Accumulation Trust
Equity Portfolio......................... 35,461 9.5337 338,071 -- 338,071
Mid Cap Portfolio........................ 15,590 14.3950 224,416 -- 224,416
Small Cap Portfolio...................... 838 12.0631 10,114 -- 10,114
Managed Portfolio........................ 11,080 9.9545 110,296 -- 110,296
Sun Capital Advisers Trust
Sun Capital Money Market Fund............ 84,742 10.4967 889,491 -- 889,491
Sun Capital Investment Grade Bond Fund... 93,728 10.0858 945,163 -- 945,163
Sun Capital Real Estate Fund............. 7,257 11.7986 85,599 -- 85,599
Sun Capital Select Equity Fund........... 6,928 12.7536 88,375 -- 88,375
Sun Capital Blue Chip Mid Cap Fund....... 22,650 14.7900 335,045 -- 335,045
Sun Capital Investors Foundation Fund.... 3,691 11.0751 40,876 -- 40,876
Warburg Pincus Trust
Emerging Markets Portfolio............... 3,733 16.7985 62,699 -- 62,699
International Equity Portfolio........... 3,094 13.6486 42,216 -- 42,216
Post-Venture Capital Portfolio........... 761 16.7863 12,767 -- 12,767
Small Company Growth Portfolio........... 4,362 18.0186 78,598 -- 78,598
----------- -------- -----------
$19,766,184 $370,841 $20,137,025
----------- -------- -----------
</TABLE>
See notes to financial statements
10
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------ Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------ ----------- -----------
<S> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS:
AIM Variable Insurance Fund, Inc.
V.I. Capital Appreciation Fund -- Level
1....................................... 169,348 $14.7702 $2,501,294 $ -- $2,501,294
V.I. Capital Appreciation Fund -- Level
2....................................... 254,188 14.7654 3,753,192 -- 3,753,192
V.I. Capital Appreciation Fund -- Level
3....................................... 52,341 14.7623 772,670 -- 772,670
V.I. Capital Appreciation Fund -- Level
4....................................... 11,483 14.7576 169,466 -- 169,466
V.I. Growth Fund -- Level 1.............. 251,127 13.1442 3,300,861 -- 3,300,861
V.I. Growth Fund -- Level 2.............. 341,714 13.1400 4,490,130 -- 4,490,130
V.I. Growth Fund -- Level 3.............. 62,186 13.1372 816,957 -- 816,957
V.I. Growth Fund -- Level 4.............. 49,581 13.1330 651,142 -- 651,142
V.I. Growth and Income Fund -- Level 1... 200,404 12.7722 2,559,594 -- 2,559,594
V.I. Growth and Income Fund -- Level 2... 270,358 12.7681 3,451,952 -- 3,451,952
V.I. Growth and Income Fund -- Level 3... 67,204 12.7654 857,883 -- 857,883
V.I. Growth and Income Fund -- Level 4... 51,125 12.7613 652,392 -- 652,392
V.I. International Equity Fund -- Level
1....................................... 362,077 12.2492 4,435,137 -- 4,435,137
V.I. International Equity Fund -- Level
2....................................... 412,851 12.2452 5,055,451 -- 5,055,451
V.I. International Equity Fund -- Level
3....................................... 131,457 12.2426 1,609,381 -- 1,609,381
V.I. International Equity Fund -- Level
4....................................... 13,331 12.2386 163,240 -- 163,240
The Alger American Fund
Growth Portfolio -- Level 1.............. 307,768 12.8362 3,950,560 -- 3,950,560
Growth Portfolio -- Level 2.............. 418,143 12.8321 5,365,634 -- 5,365,634
Growth Portfolio -- Level 3.............. 60,104 12.8293 771,090 -- 771,090
Growth Portfolio -- Level 4.............. 16,989 12.8252 214,545 -- 214,545
Income and Growth Portfolio -- Level 1... 206,397 14.6171 3,016,918 -- 3,016,918
Income and Growth Portfolio -- Level 2... 156,698 14.6124 2,289,735 -- 2,289,735
Income and Growth Portfolio -- Level 3... 81,228 14.6093 1,186,680 -- 1,186,680
Income and Growth Portfolio -- Level 4... 10,598 14.6046 154,473 -- 154,473
Small Capitalization Portfolio -- Level
1....................................... 94,492 13.2878 1,255,587 -- 1,255,587
Small Capitalization Portfolio -- Level
2....................................... 191,982 13.2835 2,550,203 -- 2,550,203
Small Capitalization Portfolio -- Level
3....................................... 31,292 13.2807 415,577 -- 415,577
Small Capitalization Portfolio -- Level
4....................................... 9,945 13.2764 127,026 -- 127,026
Goldman Sachs Variable Insurance Trust
VIT-SM- CORE Large Cap Growth Fund --
Level 1................................. 90,839 12.9116 1,172,875 -- 1,172,875
VIT-SM- CORE Large Cap Growth Fund --
Level 2................................. 159,466 12.9075 2,058,301 -- 2,058,301
VIT-SM- CORE Large Cap Growth Fund --
Level 3................................. 32,827 12.9048 423,621 -- 423,621
VIT-SM- CORE Large Cap Growth Fund --
Level 4................................. 6,199 12.9006 79,950 -- 79,950
VIT-SM- CORE Small Cap Equity Fund --
Level 1................................. 14,076 12.3896 174,399 -- 174,399
VIT-SM- CORE Small Cap Equity Fund --
Level 2................................. 22,635 12.3857 280,344 -- 280,344
VIT-SM- CORE US Equity Fund -- Level 1... 76,948 11.5625 889,710 -- 889,710
VIT-SM- CORE US Equity Fund -- Level 2... 118,232 11.5588 1,366,621 -- 1,366,621
VIT-SM- CORE US Equity Fund -- Level 3... 9,402 11.5563 108,649 -- 108,649
</TABLE>
See notes to financial statements
11
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------ Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------ ----------- -----------
<S> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS: -- continued
Goldman Sachs Variable Insurance Trust --
continued
Growth and Income Fund -- Level 1........ 41,352 $11.2062 $ 463,398 $ -- $ 463,398
Growth and Income Fund -- Level 2........ 26,222 11.2026 293,750 -- 293,750
Growth and Income Fund -- Level 3........ 9,176 11.2002 102,771 -- 102,771
International Equity Fund -- Level 1..... 92,539 11.8195 1,093,768 -- 1,093,768
International Equity Fund -- Level 2..... 89,934 11.8157 1,062,632 -- 1,062,632
International Equity Fund -- Level 3..... 31,651 11.8132 373,902 -- 373,902
International Equity Fund -- Level 4..... 12,092 11.8094 142,690 -- 142,690
J.P. Morgan Series Trust II
U.S. Disciplined Equity Portfolio --
Level 1................................. 56,082 11.2873 633,014 -- 633,014
U.S. Disciplined Equity Portfolio --
Level 2................................. 63,182 11.2837 712,933 -- 712,933
U.S. Disciplined Equity Portfolio --
Level 3................................. 1,006 11.2813 11,349 -- 11,349
U.S. Disciplined Equity Portfolio --
Level 4................................. 5,463 11.2777 61,618 -- 61,618
International Opportunities Portfolio --
Level 1................................. 45,875 11.2239 514,899 -- 514,899
International Opportunities Portfolio --
Level 2................................. 73,889 11.2203 829,060 -- 829,060
International Opportunities Portfolio --
Level 3................................. 26,438 11.2179 296,583 -- 296,583
International Opportunities Portfolio --
Level 4................................. 2,344 11.2143 26,284 -- 26,284
Small Company Portfolio -- Level 1....... 126,210 13.3679 1,687,171 -- 1,687,171
Small Company Portfolio -- Level 2....... 67,306 13.3637 899,452 -- 899,452
Small Company Portfolio -- Level 3....... 5,486 13.3608 73,293 -- 73,293
Small Company Portfolio -- Level 4....... 420 13.3565 5,627 -- 5,627
Lord Abbett Series Fund, Inc.
Growth and Income Portfolio -- Level 1... 156,156 11.1037 1,733,789 -- 1,733,789
Growth and Income Portfolio -- Level 2... 215,812 11.1001 2,395,539 -- 2,395,539
Growth and Income Portfolio -- Level 3... 26,674 11.0977 296,023 -- 296,023
Growth and Income Portfolio -- Level 4... 7,345 11.0942 81,502 -- 81,502
MFS/Sun Life Series Trust
Capital Appreciation Series -- Level 1... 102,556 14.1848 1,454,741 -- 1,454,741
Capital Appreciation Series -- Level 2... 87,705 14.1802 1,243,676 -- 1,243,676
Capital Appreciation Series -- Level 3... 7,471 14.1772 105,920 -- 105,920
Capital Appreciation Series -- Level 4... 43,059 14.1727 610,249 -- 610,249
Emerging Growth Series -- Level 1........ 345,249 15.4910 5,348,246 -- 5,348,246
Emerging Growth Series -- Level 2........ 400,123 15.4860 6,196,313 -- 6,196,313
Emerging Growth Series -- Level 3........ 79,216 15.4827 1,226,479 -- 1,226,479
Emerging Growth Series -- Level 4........ 12,992 15.4778 201,099 -- 201,099
High Yield Series -- Level 1............. 146,361 10.2263 1,496,743 -- 1,496,743
High Yield Series -- Level 2............. 75,304 10.2231 769,836 -- 769,836
High Yield Series -- Level 3............. 25,538 10.2209 261,026 -- 261,026
High Yield Series -- Level 4............. 3,503 10.2176 35,336 -- 35,336
Utilities Series -- Level 1.............. 173,094 12.4186 2,149,584 -- 2,149,584
Utilities Series -- Level 2.............. 199,161 12.4146 2,472,512 -- 2,472,512
Utilities Series -- Level 3.............. 59,166 12.4120 734,367 -- 734,367
Utilities Series -- Level 4.............. 43,555 12.4080 540,618 -- 540,618
</TABLE>
See notes to financial statements
12
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------ Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------ ----------- -----------
<S> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS: -- continued
MFS/Sun Life Series Trust -- continued
Government Securities Series -- Level
1....................................... 78,306 $10.3441 $ 810,015 $ -- $ 810,015
Government Securities Series -- Level
2....................................... 66,752 10.3408 690,267 -- 690,267
Government Securities Series -- Level
3....................................... 18,537 10.3386 191,717 -- 191,717
Total Return Series -- Level 1........... 173,825 10.6757 1,855,691 -- 1,855,691
Total Return Series -- Level 2........... 62,276 10.6722 664,626 -- 664,626
Total Return Series -- Level 3........... 8,095 10.6700 86,374 -- 86,374
Total Return Series -- Level 4........... 2,686 10.6665 28,651 -- 28,651
Massachusetts Investors Trust Series --
Level 1................................. 134,456 11.4097 1,534,104 -- 1,534,104
Massachusetts Investors Trust Series --
Level 2................................. 208,225 11.4060 2,375,021 -- 2,375,021
Massachusetts Investors Trust Series --
Level 3................................. 20,246 11.4036 230,879 -- 230,879
Massachusetts Investors Trust Series --
Level 4................................. 17,022 11.3999 194,023 -- 194,023
New Discovery Series -- Level 1.......... 143,808 17.3454 2,494,416 -- 2,494,416
New Discovery Series -- Level 2.......... 158,084 17.3399 2,741,150 -- 2,741,150
New Discovery Series -- Level 3.......... 32,028 17.3362 555,247 -- 555,247
New Discovery Series -- Level 4.......... 6,117 17.3306 105,370 -- 105,370
Massachusetts Investors Growth Stock
Series -- Level 1....................... 230,485 13.4907 3,109,406 -- 3,109,406
Massachusetts Investors Growth Stock
Series -- Level 2....................... 382,914 13.4864 5,164,127 -- 5,164,127
Massachusetts Investors Growth Stock
Series -- Level 3....................... 51,270 13.4835 691,304 -- 691,304
Massachusetts Investors Growth Stock
Series -- Level 4....................... 8,631 13.4792 115,598 -- 115,598
OCC Accumulation Trust
Equity Portfolio -- Level 1.............. 46,163 10.0188 462,498 -- 462,498
Equity Portfolio -- Level 2.............. 45,014 10.0156 450,847 -- 450,847
Equity Portfolio -- Level 3.............. 34,007 10.0135 340,528 -- 340,528
Equity Portfolio -- Level 4.............. 7,228 10.0103 72,493 -- 72,493
Mid Cap Portfolio -- Level 1............. 53,020 14.3809 762,468 -- 762,468
Mid Cap Portfolio -- Level 2............. 42,526 14.3763 611,359 -- 611,359
Mid Cap Portfolio -- Level 3............. 17,352 14.3732 249,404 -- 249,404
Mid Cap Portfolio -- Level 4............. 4,893 14.3686 70,311 -- 70,311
Small Cap Portfolio -- Level 1........... 3,469 11.8705 41,190 -- 41,190
Small Cap Portfolio -- Level 2........... 18,116 11.8667 214,981 -- 214,981
Small Cap Portfolio -- Level 3........... 123 11.8642 1,458 -- 1,458
Small Cap Portfolio -- Level 4........... 8,440 11.8604 100,097 -- 100,097
Managed Portfolio -- Level 1............. 26,755 10.1947 272,760 -- 272,760
Managed Portfolio -- Level 2............. 5,045 10.1914 51,420 -- 51,420
Managed Portfolio -- Level 3............. 2,510 10.1892 25,575 -- 25,575
Sun Capital Advisers Trust
Sun Capital Money Market Fund -- Level
1....................................... 245,834 10.2781 2,526,708 -- 2,526,708
Sun Capital Money Market Fund -- Level
2....................................... 188,816 10.2748 1,940,050 -- 1,940,050
Sun Capital Money Market Fund -- Level
3....................................... 69,724 10.2726 716,252 -- 716,252
Sun Capital Money Market Fund -- Level
4....................................... 6,862 10.2629 70,466 -- 70,466
Sun Capital Investment Grade Bond
Fund -- Level 1......................... 133,799 10.2895 1,376,727 -- 1,376,727
Sun Capital Investment Grade Bond
Fund -- Level 2......................... 150,215 10.2862 1,545,142 -- 1,545,142
Sun Capital Investment Grade Bond
Fund -- Level 3......................... 46,138 10.2840 473,958 -- 473,958
</TABLE>
See notes to financial statements
13
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF CONDITION -- June 30, 2000 -- continued
<TABLE>
<CAPTION>
Applicable to Owners of
Deferred Variable Annuity Contracts Reserve for
------------------------------------- Variable
Units Unit Value Value Annuities Total
---------- ---------- ------------- ----------- ------------
<S> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS: -- continued
Sun Capital Advisers Trust -- continued
Sun Capital Real Estate Fund -- Level
1....................................... 23,880 $11.9257 $ 284,782 $ -- $ 284,782
Sun Capital Real Estate Fund -- Level
2....................................... 18,224 11.9219 217,260 -- 217,260
Sun Capital Real Estate Fund -- Level
3....................................... 203 11.9194 2,413 -- 2,413
Sun Capital Real Estate Fund -- Level
4....................................... 425 11.9155 5,089 -- 5,089
Sun Capital Select Equity Fund -- Level
1....................................... 36,306 13.8906 504,310 -- 504,310
Sun Capital Select Equity Fund -- Level
2....................................... 61,447 13.8861 853,259 -- 853,259
Sun Capital Select Equity Fund -- Level
3....................................... 8,513 13.8832 118,193 -- 118,193
Sun Capital Select Equity Fund -- Level
4....................................... 9,649 13.8787 133,806 -- 133,806
Sun Capital Blue Chip Mid Cap Fund --
Level 1................................. 91,243 15.6761 1,430,326 -- 1,430,326
Sun Capital Blue Chip Mid Cap Fund --
Level 2................................. 132,191 15.6710 2,071,564 -- 2,071,564
Sun Capital Blue Chip Mid Cap Fund --
Level 3................................. 22,049 15.6677 345,460 -- 345,460
Sun Capital Blue Chip Mid Cap Fund --
Level 4................................. 4,723 15.6627 73,851 -- 73,851
Sun Capital Investors Foundation Fund --
Level 1................................. 1,355 11.9629 16,211 -- 16,211
Sun Capital Investors Foundation Fund --
Level 2................................. 17,465 11.9591 208,868 -- 208,868
Sun Capital Investors Foundation Fund --
Level 3................................. 6,438 11.9565 76,991 -- 76,991
------------ ---------- ------------
$144,088,093 $ -- $144,088,093
------------ ---------- ------------
Net Assets........................................................... $766,625,808 $2,635,602 $769,261,410
============ ========== ============
</TABLE>
See notes to financial statements
14
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF OPERATIONS -- Six Months Ended June 30, 2000
<TABLE>
<CAPTION>
AIM1 AIM2 AIM3 AIM4 AL1 AL2
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
INCOME AND EXPENSES:
Dividend income and capital gain
distributions received............... $ -- $ -- $ -- $ -- $ 7,653,747 $ 7,411,967
Mortality and expense risk charges.... (97,378) (225,859) (246,531) (189,797) (322,386) (180,413)
Distribution expense charges.......... (11,685) (27,103) (29,584) (22,776) (38,686) (21,649)
----------- ----------- ---------- ----------- ----------- -----------
Net investment income (loss)...... $ (109,063) $ (252,962) $ (276,115) $ (212,573) $ 7,292,675 $ 7,209,905
----------- ----------- ---------- ----------- ----------- -----------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 871,005 $ 1,584,524 $4,870,342 $ 2,651,397 $ 5,348,741 $ 1,827,785
Cost of investments sold............ (597,374) (1,122,780) (3,672,700) (2,108,378) (4,533,198) (1,358,770)
----------- ----------- ---------- ----------- ----------- -----------
Net realized gains (losses)....... $ 273,631 $ 461,744 $1,197,642 $ 543,019 $ 815,543 $ 469,015
----------- ----------- ---------- ----------- ----------- -----------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $ 3,092,202 $ 4,533,781 $4,742,564 $ 1,115,308 $(1,575,087) $(1,710,959)
Beginning of period................. 2,116,193 3,612,127 5,299,791 5,154,135 5,013,031 4,539,984
----------- ----------- ---------- ----------- ----------- -----------
Change in unrealized appreciation
(depreciation)................... $ 976,009 $ 921,654 $ (557,227) $(4,038,827) $(6,588,118) $(6,250,943)
----------- ----------- ---------- ----------- ----------- -----------
Realized and unrealized gains
(losses)........................... $ 1,249,640 $ 1,383,398 $ 640,415 $(3,495,808) $(5,772,575) $(5,781,928)
----------- ----------- ---------- ----------- ----------- -----------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ 1,140,577 $ 1,130,436 $ 364,300 $(3,708,381) $ 1,520,100 $ 1,427,977
=========== =========== ========== =========== =========== ===========
<CAPTION>
AL3 GS1 GS2 GS3 GS4 GS5
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
INCOME AND EXPENSES:
<S> <C> <C> <C> <C> <C> <C>
Dividend income and capital gain
distributions received............... $ 4,576,056 $ -- $ -- $ -- $ -- $ --
Mortality and expense risk charges.... (65,890) (122,088) (16,257) (118,000) (36,961) (31,499)
Distribution expense charges.......... (7,907) (14,651) (1,951) (14,160) (4,435) (3,780)
----------- ----------- ---------- ----------- ----------- -----------
Net investment income (loss)...... $ 4,502,259 $ (136,739) $ (18,208) $ (132,160) $ (41,396) $ (35,279)
----------- ----------- ---------- ----------- ----------- -----------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 1,644,985 $ 1,045,282 $ 97,040 $ 5,907,165 $ 705,070 $ 909,169
Cost of investments sold............ (1,253,259) (783,546) (80,521) (5,410,550) (725,019) (879,832)
----------- ----------- ---------- ----------- ----------- -----------
Net realized gains (losses)....... $ 391,726 $ 261,736 $ 16,519 $ 496,615 $ (19,949) $ 29,337
----------- ----------- ---------- ----------- ----------- -----------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $(3,674,585) $ 3,605,901 $ 337,918 $ 1,255,231 $ 129,472 $ 153,973
Beginning of period................. 1,429,504 3,084,374 257,249 1,966,987 60,122 277,370
----------- ----------- ---------- ----------- ----------- -----------
Change in unrealized appreciation
(depreciation)................... $(5,104,089) $ 521,527 $ 80,669 $ (711,756) $ 69,350 $ (123,397)
----------- ----------- ---------- ----------- ----------- -----------
Realized and unrealized gains
(losses)........................... $(4,712,363) $ 783,263 $ 97,188 $ (215,141) $ 49,401 $ (94,060)
----------- ----------- ---------- ----------- ----------- -----------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ (210,104) $ 646,524 $ 78,980 $ (347,301) $ 8,005 $ (129,339)
=========== =========== ========== =========== =========== ===========
</TABLE>
See notes to financial statements
15
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF OPERATIONS -- Six Months Ended June 30, 2000 -- continued
<TABLE>
<CAPTION>
JP1 JP2 JP3 LA1 CAS EGS
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
INCOME AND EXPENSES:
Dividend income and capital gain
distributions received............... $ 594,296 $ 14,209 $ 111,342 $ -- $ 2,485,281 $ 5,103,953
Mortality and expense risk charges.... (112,357) (29,984) (26,463) (163,542) (115,408) (304,747)
Distribution expense charges.......... (13,483) (3,598) (3,176) (19,625) (13,849) (36,570)
----------- ----------- ----------- ----------- ----------- -----------
Net investment income (loss)...... $ 468,456 $ (19,373) $ 81,703 $ (183,167) $ 2,356,024 $ 4,762,636
----------- ----------- ----------- ----------- ----------- -----------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 1,377,860 $ 1,170,662 $ 2,174,227 $ 2,811,963 $ 1,345,496 $ 6,524,042
Cost of investments sold............ (1,313,548) (1,094,006) (2,055,106) (2,868,053) (1,126,049) (3,946,136)
----------- ----------- ----------- ----------- ----------- -----------
Net realized gains (losses)....... $ 64,312 $ 76,656 $ 119,121 $ (56,090) $ 219,447 $ 2,577,906
----------- ----------- ----------- ----------- ----------- -----------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $ (318,220) $ 234,093 $ 11,319 $ (415,039) $ 1,477,988 $ 2,128,505
Beginning of period................. 413,908 440,742 335,738 (168,245) 2,858,363 11,182,046
----------- ----------- ----------- ----------- ----------- -----------
Change in unrealized appreciation
(depreciation)................... $ (732,128) $ (206,649) $ (324,419) $ (246,794) $(1,380,375) $(9,053,541)
----------- ----------- ----------- ----------- ----------- -----------
Realized and unrealized gains
(losses)........................... $ (667,816) $ (129,993) $ (205,298) $ (302,884) $(1,160,928) $(6,475,635)
----------- ----------- ----------- ----------- ----------- -----------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ (199,360) $ (149,366) $ (123,595) $ (486,051) $ 1,195,096 $(1,712,999)
=========== =========== =========== =========== =========== ===========
<CAPTION>
HYS MMS UTS GSS TRS MIT
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
INCOME AND EXPENSES:
<S> <C> <C> <C> <C> <C> <C>
Dividend income and capital gain
distributions received............... $ 1,381,172 $ 186,036 $ 2,858,667 $ 1,166,819 $ 647,856 $ 1,170,740
Mortality and expense risk charges.... (89,798) (42,005) (164,731) (110,727) (31,634) (82,996)
Distribution expense charges.......... (10,776) (5,041) (19,767) (13,288) (3,796) (9,960)
----------- ----------- ----------- ----------- ----------- -----------
Net investment income (loss)...... $ 1,280,598 $ 138,990 $ 2,674,169 $ 1,042,804 $ 612,426 $ 1,077,784
----------- ----------- ----------- ----------- ----------- -----------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 5,118,571 $ 7,357,599 $ 1,622,492 $ 2,259,895 $ 405,148 $ 575,322
Cost of investments sold............ (5,207,434) (7,357,599) (1,350,812) (2,405,218) (418,335) (589,269)
----------- ----------- ----------- ----------- ----------- -----------
Net realized gains (losses)....... $ (88,863) $ -- $ 271,680 $ (145,323) $ (13,187) $ (13,947)
----------- ----------- ----------- ----------- ----------- -----------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $(1,231,980) $ -- $ 166,428 $ (494,296) $ (378,126) $ (374,941)
Beginning of period................. 37,632 -- 2,724,754 (256,823) 21,849 386,232
----------- ----------- ----------- ----------- ----------- -----------
Change in unrealized appreciation
(depreciation)................... $(1,269,612) $ -- $(2,558,326) $ (237,473) $ (399,975) $ (761,173)
----------- ----------- ----------- ----------- ----------- -----------
Realized and unrealized gains (losses) $(1,358,475) $ -- $(2,286,646) $ (382,796) $ (413,162) $ (775,120)
----------- ----------- ----------- ----------- ----------- -----------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ (77,877) $ 138,990 $ 387,523 $ 660,008 $ 199,264 $ 302,664
=========== =========== =========== =========== =========== ===========
</TABLE>
See notes to financial statements
16
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF OPERATIONS -- Six Months Ended June 30, 2000 -- continued
<TABLE>
<CAPTION>
NWD MIS OP1 OP2 OP3 OP4
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
INCOME AND EXPENSES:
Dividend income and capital gain
distributions received............... $ 608,314 $ 838,904 $ 1,222,162 $ 214,428 $ 10,813 $ 260,821
Mortality and expense risk charges.... (47,985) (108,924) (95,837) (44,465) (12,101) (18,747)
Distribution expense charges.......... (5,758) (13,071) (11,500) (5,336) (1,452) (2,250)
----------- ---------- ----------- ----------- ----------- ---------
Net investment income (loss)...... $ 554,571 $ 716,909 $ 1,114,825 $ 164,627 $ (2,740) $ 239,824
----------- ---------- ----------- ----------- ----------- ---------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 2,283,479 $ 860,270 $ 3,030,766 $ 1,873,450 $ 1,951,402 $ 341,727
Cost of investments sold............ (2,011,693) (700,615) (3,281,600) (1,588,081) (1,984,542) (383,736)
----------- ---------- ----------- ----------- ----------- ---------
Net realized gains (losses)....... $ 271,786 $ 159,655 $ (250,834) $ 285,369 $ (33,140) $ (42,009)
----------- ---------- ----------- ----------- ----------- ---------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $ (81,028) $ 807,370 $(1,325,131) $ 1,304,688 $ 212,444 $(290,834)
Beginning of period................. 457,940 1,220,338 (115,746) 589,498 (15,639) (2,013)
----------- ---------- ----------- ----------- ----------- ---------
Change in unrealized appreciation
(depreciation)................... $ (538,968) $ (412,968) $(1,209,385) $ 715,190 $ 228,083 $(288,821)
----------- ---------- ----------- ----------- ----------- ---------
Realized and unrealized gains
(losses)............................. $ (267,182) $ (253,313) $(1,460,219) $ 1,000,559 $ 194,943 $(330,830)
----------- ---------- ----------- ----------- ----------- ---------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ 287,389 $ 463,596 $ (345,394) $ 1,165,186 $ 192,203 $ (91,006)
=========== ========== =========== =========== =========== =========
<CAPTION>
SB1 SB2 SB3 SB4 SCA1 SCA2
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
INCOME AND EXPENSES:
<S> <C> <C> <C> <C> <C> <C>
Dividend income and capital gain
distributions received............... $ 6,524 $ -- $ -- $ -- $ 402,749 $ 439,866
Mortality and expense risk charges.... (2,602) (3,795) (39,562) (30,485) (92,826) (81,706)
Distribution expense charges.......... (312) (455) (4,747) (3,658) (11,139) (9,805)
----------- ---------- ----------- ----------- ----------- ---------
Net investment income (loss)...... $ 3,610 $ (4,250) $ (44,309) $ (34,143) $ 298,784 $ 348,355
----------- ---------- ----------- ----------- ----------- ---------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 22,423 $ 144,885 $ 1,067,347 $ 2,573,421 $27,923,034 $ 892,069
Cost of investments sold............ (18,710) (120,619) (1,135,286) (2,584,005) (27,923,034) (926,526)
----------- ---------- ----------- ----------- ----------- ---------
Net realized gains (losses)....... $ 3,713 $ 24,266 $ (67,939) $ (10,584) $ -- $ (34,457)
----------- ---------- ----------- ----------- ----------- ---------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $ 122,253 $ 80,185 $ (92,732) $ (15,230) $ -- $ (49,893)
Beginning of period................. 68,433 52,807 (311,911) (145,524) -- (167,137)
----------- ---------- ----------- ----------- ----------- ---------
Change in unrealized appreciation
(depreciation)................... $ 53,820 $ 27,378 $ 219,179 $ 130,294 $ -- $ 117,244
----------- ---------- ----------- ----------- ----------- ---------
Realized and unrealized gains
(losses)........................... $ 57,533 $ 51,644 $ 151,240 $ 119,710 $ -- $ 82,787
----------- ---------- ----------- ----------- ----------- ---------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ 61,143 $ 47,394 $ 106,931 $ 85,567 $ 298,784 $ 431,142
=========== ========== =========== =========== =========== =========
</TABLE>
See notes to financial statements
17
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENT OF OPERATIONS -- Six Months Ended June 30, 2000 -- continued
<TABLE>
<CAPTION>
SCA3 SCA4 SCA5 SCA6 WP1 WP2
Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account Sub-Account
------------ ------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
INCOME AND EXPENSES:
Dividend income and capital gain
distributions received............... $ -- $ -- $ -- $ -- $ -- $ --
Mortality and expense risk charges.... (12,932) (17,269) (41,863) (6,465) (25,280) (10,292)
Distribution expense charges.......... (1,552) (2,072) (5,024) (776) (3,034) (1,235)
--------- ----------- ---------- ----------- ----------- ---------
Net investment income (loss)...... $ (14,484) $ (19,341) $ (46,887) $ (7,241) $ (28,314) $ (11,527)
--------- ----------- ---------- ----------- ----------- ---------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 175,809 $ 234,390 $ 826,041 $ 91,674 $ 1,817,193 $ 674,026
Cost of investments sold............ (173,090) (176,044) (577,333) (82,774) (1,521,292) (667,001)
--------- ----------- ---------- ----------- ----------- ---------
Net realized gains (losses)....... $ 2,719 $ 58,346 $ 248,708 $ 8,900 $ 295,901 $ 7,025
--------- ----------- ---------- ----------- ----------- ---------
Net unrealized appreciation
(depreciation) on investments:
End of period....................... $ 271,803 $ 215,316 $1,241,557 $ 86,738 $ (362,863) $ 114,691
Beginning of period................. (70,481) 217,754 437,614 53,913 334,249 283,627
--------- ----------- ---------- ----------- ----------- ---------
Change in unrealized appreciation
(depreciation)................... $ 342,284 $ (2,438) $ 803,943 $ 32,825 $ (697,112) $(168,936)
--------- ----------- ---------- ----------- ----------- ---------
Realized and unrealized gains
(losses)........................... $ 345,003 $ 55,908 $1,052,651 $ 41,725 $ (401,211) $(161,911)
--------- ----------- ---------- ----------- ----------- ---------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ 330,519 $ 36,567 $1,005,764 $ 34,484 $ (429,525) $(173,438)
========= =========== ========== =========== =========== =========
<CAPTION>
WP3 WP4
Sub-Account Sub-Account
------------ -------------
INCOME AND EXPENSES:
<S> <C> <C> <C> <C> <C> <C>
Dividend income and capital gain
distributions received............... $ -- $ --
Mortality and expense risk charges.... (10,118) (23,389)
Distribution expense charges (1,214) (2,807)
--------- -----------
Net investment income (loss)...... $ (11,332) $ (26,196)
--------- -----------
REALIZED AND UNREALIZED GAINS (LOSSES):
Realized gains (losses) on investment
transactions:
Proceeds from sales................. $ 277,995 $ 2,142,049
Cost of investments sold............ (207,194) (1,450,358)
--------- -----------
Net realized gains (losses)....... $ 70,801 $ 691,691
--------- -----------
Net unrealized appreciation
(depreciation) on investments:
End of year......................... $ 147,137 $ 86,257
Beginning of year................... 202,317 1,104,711
--------- -----------
Change in unrealized appreciation
(depreciation)................... $ (55,180) $(1,018,454)
--------- -----------
Realized and unrealized gains
(losses)........................... $ 15,621 $ (326,763)
--------- -----------
INCREASE (DECREASE) IN NET ASSETS FROM
OPERATIONS............................. $ 4,289 $ (352,959)
========= ===========
</TABLE>
See notes to financial statements
18
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
AIM1 AIM2 AIM3
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (109,063) $ 163,990 $ (252,962) $ 663,433 $ (276,115) $ 64,741
Net realized gains (losses)....... 273,631 82,737 461,744 133,152 1,197,642 468,336
Net unrealized gains (losses)..... 976,009 1,987,730 921,654 3,381,331 (557,227) 4,897,906
----------- ----------- ------------ ----------- ----------- ------------
Increase (Decrease) in net
assets from operations....... $ 1,140,577 $ 2,234,457 $ 1,130,436 $ 4,177,916 $ 364,300 $ 5,430,983
----------- ----------- ------------ ----------- ----------- ------------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $10,519,067 $ 3,190,508 $ 14,850,316 $ 8,313,278 $12,307,515 $ 8,663,899
Net transfers between Sub--
Accounts and Fixed Account..... 4,130,503 2,389,362 9,656,536 9,156,077 8,288,811 13,693,105
Withdrawals, surrenders,
annuitizations and contract
charges........................ (399,214) (291,401) (904,995) (396,819) (1,435,623) (634,386)
----------- ----------- ------------ ----------- ----------- ------------
Net accumulation activity..... $14,250,356 $ 5,288,469 $ 23,601,857 $17,072,536 $19,160,703 $ 21,722,618
----------- ----------- ------------ ----------- ----------- ------------
Annuitization activity:
Annuitizations.................. $ 8,612 $ 21,703 $ 28,010 $ 88,023 $ 6,116 $ 68,415
Annuity payments................ (1,294) (947) (6,276) (2,232) (2,650) (645)
Adjustments to annuity
reserve........................ (351) (1,572) (3,285) (1,153) (386) 3,276
----------- ----------- ------------ ----------- ----------- ------------
Net annuitization activity.... $ 6,967 $ 19,184 $ 18,449 $ 84,638 $ 3,080 $ 71,046
----------- ----------- ------------ ----------- ----------- ------------
Increase (Decrease) in net assets
from participant transactions.... $14,257,323 $ 5,307,653 $ 23,620,306 $17,157,174 $19,163,783 $ 21,793,664
----------- ----------- ------------ ----------- ----------- ------------
Increase (Decrease) in net
assets $15,397,900 $ 7,542,110 $ 24,750,742 $21,335,090 $19,528,083 $ 27,224,647
NET ASSETS:
Beginning of period............... 9,095,776 1,553,666 23,904,295 2,569,205 31,001,123 3,776,476
----------- ----------- ------------ ----------- ----------- ------------
End of period..................... $24,493,676 $ 9,095,776 $ 48,655,037 $23,904,295 $50,529,206 $ 31,001,123
=========== =========== ============ =========== =========== ============
</TABLE>
See notes to financial statements
19
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
AIM4 AL1 AL2
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (212,573) $ 511,149 $ 7,292,675 $ 811,033 $ 7,209,905 $ 199,713
Net realized gains (losses)....... 543,019 532,235 815,543 600,520 469,015 359,230
Net unrealized gains (losses)..... (4,038,827) 5,018,327 (6,588,118) 4,516,739 (6,250,943) 4,268,060
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net
assets from operations....... $(3,708,381) $ 6,061,711 $ 1,520,100 $ 5,928,292 $ 1,427,977 $ 4,827,003
----------- ----------- ----------- ----------- ----------- -----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $17,392,913 $ 4,140,973 $17,047,172 $12,748,856 $10,312,916 $ 5,097,716
Net transfers between Sub--
Accounts and Fixed Account..... 10,339,964 7,199,126 11,121,591 16,707,964 8,150,758 8,333,556
Withdrawals, surrenders,
annuitizations and contract
charges........................ (1,005,106) (465,245) (2,198,161) (1,047,363) (1,062,470) (821,155)
----------- ----------- ----------- ----------- ----------- -----------
Net accumulation activity..... $26,727,771 $10,874,854 $25,970,602 $28,409,457 $17,401,204 $12,610,117
----------- ----------- ----------- ----------- ----------- -----------
Annuitization activity:
Annuitizations.................. $ 68,759 $ 87,014 $ 45,698 $ 85,342 $ 10,220 $ 99,349
Annuity payments................ (9,354) (5,593) (4,285) (1,306) (8,189) (6,928)
Adjustments to annuity
reserve........................ (12,761) (1,819) (5,088) 2,825 (2,958) (1,193)
----------- ----------- ----------- ----------- ----------- -----------
Net annuitization activity.... $ 46,644 $ 79,602 $ 36,325 $ 86,861 $ (927) $ 91,228
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net assets
from participant transactions.... $26,774,415 $10,954,456 $26,006,927 $28,496,318 $17,400,277 $12,701,345
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net
assets $23,066,034 $17,016,167 $27,527,027 $34,424,610 $18,828,254 $17,528,348
NET ASSETS:
Beginning of period............... 19,427,405 2,411,238 38,064,112 3,639,502 19,857,026 2,328,678
----------- ----------- ----------- ----------- ----------- -----------
End of period..................... $42,493,439 $19,427,405 $65,591,139 $38,064,112 $38,685,280 $19,857,026
=========== =========== =========== =========== =========== ===========
</TABLE>
See notes to financial statements
20
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
AL3 GS1 GS2
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 4,502,259 $180,135 $ (136,739) $ (86,434) $ (18,208) $ (7,437 )
Net realized gains (losses)....... 391,726 26,998 261,736 119,138 16,519 (6,104 )
Net unrealized gains (losses)..... (5,104,089) 1,333,109 521,527 2,855,021 80,669 247,190
----------- ---------- ----------- ----------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ (210,104) 1$,540,242 $ 646,524 $ 2,887,725 $ 78,980 $233,649
----------- ---------- ----------- ----------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 6,459,435 2$,088,417 $ 5,354,923 $ 4,819,708 $ 1,051,359 $314,158
Net transfers between Sub--
Accounts and Fixed Account..... 2,693,853 2,244,048 3,843,562 5,800,687 642,371 981,739
Withdrawals, surrenders,
annuitizations and contract
charges........................ (322,684) (126,620 ) (450,022) (346,821) (51,917) (33,270 )
----------- ---------- ----------- ----------- ----------- ----------
Net accumulation activity..... $ 8,830,604 4$,205,845 $ 8,748,463 $10,273,574 $ 1,641,813 1$,262,627
----------- ---------- ----------- ----------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ 19,389 $ 59,038 $ 6,109 $ 93,264 $ -- $ 19,466
Annuity payments................ (3,886) (542 ) (5,670) (5,717) (521) (750 )
Adjustments to annuity
reserve........................ (3,714) 66 (838) (2,494) (232) (2,307 )
----------- ---------- ----------- ----------- ----------- ----------
Net annuitization activity.... $ 11,789 $ 58,562 $ (399) $ 85,053 $ (753) $ 16,409
----------- ---------- ----------- ----------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $ 8,842,393 4$,264,407 $ 8,748,064 $10,358,627 $ 1,641,060 1$,279,036
----------- ---------- ----------- ----------- ----------- ----------
Increase (Decrease) in net
assets $ 8,632,289 5$,804,649 $ 9,394,588 $13,246,352 $ 1,720,040 1$,512,685
NET ASSETS:
Beginning of period............... 6,610,605 805,956 15,575,462 2,329,110 1,795,361 282,676
----------- ---------- ----------- ----------- ----------- ----------
End of period..................... $15,242,894 6$,610,605 $24,970,050 $15,575,462 $ 3,515,401 1$,795,361
=========== ========== =========== =========== =========== ==========
</TABLE>
See notes to financial statements
21
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
GS3 GS4 GS5
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (132,160) $ 126,862 $ (41,396 ) $ 8,970 $ (35,279) $183,291
Net realized gains (losses)....... 496,615 363,935 (19,949 ) (49,105) 29,337 84,670
Net unrealized gains (losses)..... (711,756) 1,670,034 69,350 132,039 (123,397) 260,708
----------- ----------- ---------- ----------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ (347,301) $ 2,160,831 $ 8,005 $ 91,904 $ (129,339) $528,669
----------- ----------- ---------- ----------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 4,507,513 $ 4,503,362 $1,209,311 $ 1,294,500 $ 4,601,971 $840,435
Net transfers between Sub--
Accounts and Fixed Account..... (850,035) 8,595,492 653,882 2,400,908 846,265 1,051,801
Withdrawals, surrenders,
annuitizations and contract
charges........................ (659,381) (498,099) (297,000 ) (203,335) (81,042) (37,988 )
----------- ----------- ---------- ----------- ----------- ----------
Net accumulation activity..... $ 2,998,097 $12,600,755 $1,566,193 $ 3,492,073 $ 5,367,194 1$,854,248
----------- ----------- ---------- ----------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ 43,879 $ 37,472 $ -- $ -- $ 2,023 $ 20,676
Annuity payments................ (4,399) (2,065) -- -- (991) (911 )
Adjustments to annuity
reserve........................ (1,019) (43) -- -- (161) (674 )
----------- ----------- ---------- ----------- ----------- ----------
Net annuitization activity.... $ 38,461 $ 35,364 $ -- $ -- $ 871 $ 19,091
----------- ----------- ---------- ----------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $ 3,036,558 $12,636,119 $1,566,193 $ 3,492,073 $ 5,368,065 1$,873,339
----------- ----------- ---------- ----------- ----------- ----------
Increase (Decrease) in net
assets $ 2,689,257 $14,796,950 $1,574,198 $ 3,583,977 $ 5,238,726 2$,402,008
NET ASSETS:
Beginning of period............... 18,016,302 3,219,352 5,432,857 1,848,880 2,727,392 325,384
----------- ----------- ---------- ----------- ----------- ----------
End of period..................... $20,705,559 $18,016,302 $7,007,055 $ 5,432,857 $ 7,966,118 2$,727,392
=========== =========== ========== =========== =========== ==========
</TABLE>
See notes to financial statements
22
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
JP1 JP2 JP3
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 468,456 $ 915,926 $ (19,373 ) $ 93,716 $ 81,703 $ 19,756
Net realized gains (losses)....... 64,312 171,441 76,656 86,971 119,121 172
Net unrealized gains (losses)..... (732,128) 340,247 (206,649 ) 433,370 (324,419) 336,978
----------- ----------- ---------- ----------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ (199,360) $ 1,427,614 $(149,366 ) $ 614,057 $ (123,595) $356,906
----------- ----------- ---------- ----------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 3,261,563 $ 4,908,483 $2,863,269 $ 1,032,722 $ 2,672,599 $556,222
Net transfers between Sub--
Accounts and Fixed Account..... 2,609,482 6,352,530 1,334,767 1,243,965 1,780,447 412,896
Withdrawals, surrenders,
annuitizations and contract
charges........................ (288,712) (556,977) (572,582 ) (95,728) (97,058) (18,773 )
----------- ----------- ---------- ----------- ----------- ----------
Net accumulation activity..... $ 5,582,333 $10,704,036 $3,625,454 $ 2,180,959 $ 4,355,988 $950,345
----------- ----------- ---------- ----------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ -- $ 77,078 $ 6,100 $ 18,651 $ 8,065 $ --
Annuity payments................ (2,298) (1,035) (855 ) (844) (251) --
Adjustments to annuity
reserve........................ (432) 150 (120 ) (700) (18) --
----------- ----------- ---------- ----------- ----------- ----------
Net annuitization activity.... $ (2,730) $ 76,193 $ 5,125 $ 17,107 $ 7,796 $ --
----------- ----------- ---------- ----------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $ 5,579,603 $10,780,229 $3,630,579 $ 2,198,066 $ 4,363,784 $950,345
----------- ----------- ---------- ----------- ----------- ----------
Increase (Decrease) in net
assets $ 5,380,243 $12,207,843 $3,481,213 $ 2,812,123 $ 4,240,189 1$,307,251
NET ASSETS:
Beginning of period............... 15,393,690 3,185,847 3,297,539 485,416 1,497,621 190,370
----------- ----------- ---------- ----------- ----------- ----------
End of period..................... $20,773,933 $15,393,690 $6,778,752 $ 3,297,539 $ 5,737,810 1$,497,621
=========== =========== ========== =========== =========== ==========
</TABLE>
See notes to financial statements
23
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
LA1 CAS EGS
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (183,167) $ 1,474,587 $ 2,356,024 $ 692,778 $ 4,762,636 $ (32,594)
Net realized gains (losses)....... (56,090) 174,451 219,447 224,872 2,577,906 649,409
Net unrealized gains (losses)..... (246,794) (189,406) (1,380,375) 2,228,558 (9,053,541) 10,404,765
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net
assets from operations....... $ (486,051) $ 1,459,632 $ 1,195,096 $ 3,146,208 $(1,712,999) $11,021,580
----------- ----------- ----------- ----------- ----------- -----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 6,628,508 $ 6,119,781 $ 5,386,716 $ 3,621,357 $21,353,976 $ 7,852,516
Net transfers between Sub--
Accounts and Fixed Account..... 5,734,689 10,627,992 2,751,804 3,950,702 16,819,737 8,176,327
Withdrawals, surrenders,
annuitizations and contract
charges........................ (1,320,714) (621,174) (654,036) (385,338) (2,288,111) (925,614)
----------- ----------- ----------- ----------- ----------- -----------
Net accumulation activity..... $11,042,483 $16,126,599 $ 7,484,484 $ 7,186,721 $35,885,602 $15,103,229
----------- ----------- ----------- ----------- ----------- -----------
Annuitization activity:
Annuitizations.................. $ 2,748 $ -- $ -- $ 53,269 $ 37,036 $ 126,228
Annuity payments................ (49) -- (3,193) (3,083) (8,773) (3,973)
Adjustments to annuity
reserve........................ (3) -- (563) (1,863) (12,887) 9,690
----------- ----------- ----------- ----------- ----------- -----------
Net annuitization activity.... $ 2,696 $ -- $ (3,756) $ 48,323 $ 15,376 $ 131,945
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net assets
from participant transactions.... $11,045,179 $16,126,599 $ 7,480,728 $ 7,235,044 $35,900,978 $15,235,174
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net
assets......................... $10,559,128 $17,586,231 $ 8,675,824 $10,381,252 $34,187,979 $26,256,754
NET ASSETS:
Beginning of period............... 20,968,509 3,382,278 15,000,492 4,619,240 31,133,993 4,877,239
----------- ----------- ----------- ----------- ----------- -----------
End of period..................... $31,527,637 $20,968,509 $23,676,316 $15,000,492 $65,321,972 $31,133,993
=========== =========== =========== =========== =========== ===========
</TABLE>
See notes to financial statements
24
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
HYS MMS UTS
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 1,280,598 $ 277,362 $ 138,990 $ 177,344 $ 2,674,169 $ 624,780
Net realized gains (losses)....... (88,863) (99,067) -- -- 271,680 155,348
Net unrealized gains (losses)..... (1,269,612) 40,424 -- -- (2,558,326) 2,521,304
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net
assets from operations....... $ (77,877) $ 218,719 $ 138,990 $ 177,344 $ 387,523 $ 3,301,432
----------- ----------- ----------- ----------- ----------- -----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 3,958,231 $ 3,074,357 $ 18,531 $ 308,389 $ 9,379,983 $ 4,077,024
Net transfers between Sub--
Accounts and Fixed Account..... 888,944 7,484,053 (209,453) 4,197,928 5,810,087 9,168,485
Withdrawals, surrenders,
annuitizations and contract
charges........................ (651,624) (462,273) (877,329) (1,455,384) (606,621) (781,083)
----------- ----------- ----------- ----------- ----------- -----------
Net accumulation activity..... $ 4,195,551 $10,096,137 $(1,068,251) $ 3,050,933 $14,583,449 $12,464,426
----------- ----------- ----------- ----------- ----------- -----------
Annuitization activity:
Annuitizations.................. $ 24,998 $ 80,858 $ -- $ -- $ -- $ 179,007
Annuity payments................ (4,108) (4,094) -- -- (9,628) (3,339)
Adjustments to annuity
reserve........................ (614) (348) -- -- (1,307) (1,085)
----------- ----------- ----------- ----------- ----------- -----------
Net annuitization activity.... $ 20,276 $ 76,416 $ -- $ -- $ (10,935) $ 174,583
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net assets
from participant transactions.... $ 4,215,827 $10,172,553 $(1,068,251) $ 3,050,933 $14,572,514 $12,639,009
----------- ----------- ----------- ----------- ----------- -----------
Increase (Decrease) in net
assets......................... $ 4,137,950 $10,391,272 $ (929,261) $ 3,228,277 $14,960,037 $15,940,441
NET ASSETS:
Beginning of period............... 12,505,265 2,113,993 7,058,196 3,829,919 18,838,189 2,897,748
----------- ----------- ----------- ----------- ----------- -----------
End of period..................... $16,643,215 $12,505,265 $ 6,128,935 $ 7,058,196 $33,798,226 $18,838,189
=========== =========== =========== =========== =========== ===========
</TABLE>
See notes to financial statements
25
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
GSS TRS MIT
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999(a) June 30, 2000 1999(a)
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 1,042,804 $ 154,206 $ 612,426 $ (7,791 ) $ 1,077,784 $(21,203 )
Net realized gains (losses)....... (145,323) (71,213) (13,187 ) (4,728 ) (13,947) (3,740 )
Net unrealized gains (losses)..... (237,473) (269,914) (399,975 ) 21,849 (761,173) 386,232
----------- ----------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ 660,008 $ (186,921) $ 199,264 $ 9,330 $ 302,664 $361,289
----------- ----------- ---------- ---------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 3,122,731 $ 3,214,716 $3,066,714 1$,944,130 $ 6,724,888 3$,992,136
Net transfers between Sub--
Accounts and Fixed Account..... 3,360,555 10,679,042 1,621,987 749,019 4,380,423 3,540,232
Withdrawals, surrenders,
annuitizations and contract
charges........................ (672,392) (493,591) (98,359 ) (116,117 ) (407,058) (70,811 )
----------- ----------- ---------- ---------- ----------- ----------
Net accumulation activity..... $ 5,810,894 $13,400,167 $4,590,342 2$,577,032 $10,698,253 7$,461,557
----------- ----------- ---------- ---------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ 48,400 $ 26,994 $ -- $ 79,374 $ 14,843 $ 4,029
Annuity payments................ (4,976) (4,351) (4,171 ) -- (761) (181 )
Adjustments to annuity
reserve........................ 115 (534) (505 ) 17 (63) (182 )
----------- ----------- ---------- ---------- ----------- ----------
Net annuitization activity.... $ 43,539 $ 22,109 $ (4,676 ) $ 79,391 $ 14,019 $ 3,666
----------- ----------- ---------- ---------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $ 5,854,433 $13,422,276 $4,585,666 2$,656,423 $10,712,272 7$,465,223
----------- ----------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets......................... $ 6,514,441 $13,235,355 $4,784,930 2$,665,753 $11,014,936 7$,826,512
NET ASSETS:
Beginning of period............... 14,876,989 1,641,634 2,665,753 -- 7,826,512 --
----------- ----------- ---------- ---------- ----------- ----------
End of period..................... $21,391,430 $14,876,989 $7,450,683 2$,665,753 $18,841,448 7$,826,512
=========== =========== ========== ========== =========== ==========
</TABLE>
(a) For the period May 17, 1999 (commencement of operations) through
December 31, 1999.
See notes to financial statements
26
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
NWD MIS OPI
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999(a) June 30, 2000 1999(a) June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 554,571 $ (6,392 ) $ 716,909 $(20,396 ) $ 1,114,825 $ 147,083
Net realized gains (losses)....... 271,786 25,497 159,655 30,718 (250,834) 49,711
Net unrealized gains (losses)..... (538,968) 457,940 (412,968) 1,220,338 (1,209,385) (317,549)
----------- ---------- ----------- ---------- ----------- -----------
Increase (Decrease) in net
assets from operations....... $ 287,389 $477,045 $ 463,596 1$,230,660 $ (345,394) $ (120,755)
----------- ---------- ----------- ---------- ----------- -----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 7,750,939 $720,822 $12,818,014 4$,452,860 $ 2,266,628 $ 2,729,165
Net transfers between Sub--
Accounts and Fixed Account..... 5,203,569 782,394 7,030,864 2,713,276 5,407,913 6,567,188
Withdrawals, surrenders,
annuitizations and contract
charges........................ (170,867) (6,830 ) (700,187) (187,257 ) (593,225) (574,346)
----------- ---------- ----------- ---------- ----------- -----------
Net accumulation activity..... $12,783,641 1$,496,386 $19,148,691 6$,978,879 $ 7,081,316 $ 8,722,007
----------- ---------- ----------- ---------- ----------- -----------
Annuitization activity:
Annuitizations.................. $ 7,451 $ -- $ -- $133,744 $ 6,518 $ 11,643
Annuity payments................ (252) -- (6,614) (333 ) (660) (586)
Adjustments to annuity
reserve........................ (17) -- 8,886 4,173 (85) 248
----------- ---------- ----------- ---------- ----------- -----------
Net annuitization activity.... $ 7,182 $ -- $ 2,272 $137,584 $ 5,773 $ 11,305
----------- ---------- ----------- ---------- ----------- -----------
Increase (Decrease) in net assets
from participant transactions.... $12,790,823 1$,496,386 $19,150,963 7$,116,463 $ 7,087,089 $ 8,733,312
----------- ---------- ----------- ---------- ----------- -----------
Increase (Decrease) in net
assets......................... $13,078,212 1$,973,431 $19,614,559 8$,347,123 $ 6,741,695 $ 8,612,557
NET ASSETS:
Beginning of period............... 1,973,431 -- 8,347,123 -- 12,472,113 3,859,556
----------- ---------- ----------- ---------- ----------- -----------
End of period..................... $15,051,643 1$,973,431 $27,961,682 8$,347,123 $19,213,808 $12,472,113
=========== ========== =========== ========== =========== ===========
</TABLE>
(a) For the period May 17, 1999 (commencement of operations) through
December 31, 1999.
See notes to financial statements
27
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
OP2 OP3 OP4
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 164,627 $ 63,482 $ (2,740 ) $(18,870 ) $ 239,824 $ (7,226 )
Net realized gains (losses)....... 285,369 15,513 (33,140 ) 34,433 (42,009) 1,938
Net unrealized gains (losses)..... 715,190 547,534 228,083 (44,591 ) (288,821) (2,067 )
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $1,165,186 $626,529 $ 192,203 $(29,028 ) $ (91,006) $ (7,355 )
---------- ---------- ---------- ---------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $2,716,382 1$,550,529 $ 579,564 $485,930 $ 418,095 1$,632,027
Net transfers between Sub--
Accounts and Fixed Account..... 1,949,383 1,198,601 (1,253,385 ) 1,779,308 568,730 883,782
Withdrawals, surrenders,
annuitizations and contract
charges........................ (296,776 ) (132,625 ) (158,391 ) (129,696 ) (47,737) (31,887 )
---------- ---------- ---------- ---------- ----------- ----------
Net accumulation activity..... $4,368,989 2$,616,505 $(832,212 ) 2$,135,542 $ 939,088 2$,483,922
---------- ---------- ---------- ---------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ 2,745 $ 42,401 $ -- $ 11,596 $ -- $ --
Annuity payments................ (2,440 ) (2,165 ) (648 ) (845 ) -- --
Adjustments to annuity
reserve........................ (478 ) (667 ) 133 (1,085 ) -- --
---------- ---------- ---------- ---------- ----------- ----------
Net annuitization activity.... $ (173 ) $ 39,569 $ (515 ) $ 9,666 $ -- $ --
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $4,368,816 2$,656,074 $(832,727 ) 2$,145,208 $ 939,088 2$,483,922
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets......................... $5,534,002 3$,282,603 $(640,524 ) 2$,116,180 $ 848,082 2$,476,567
NET ASSETS:
Beginning of period............... 4,188,186 905,583 2,831,911 715,731 2,477,620 1,053
---------- ---------- ---------- ---------- ----------- ----------
End of period..................... $9,722,188 4$,188,186 $2,191,387 2$,831,911 $ 3,325,702 2$,477,620
========== ========== ========== ========== =========== ==========
</TABLE>
See notes to financial statements
28
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
SB1 SB2 SB3
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ 3,610 $ 8,032 $ (4,250 ) $ (4,606 ) $ (44,309) $265,621
Net realized gains (losses)....... 3,713 8,199 24,266 21,954 (67,939) (42,967 )
Net unrealized gains (losses)..... 53,820 45,162 27,378 33,353 219,179 (245,059 )
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ 61,143 $ 61,393 $ 47,394 $ 50,701 $ 106,931 $(22,405 )
---------- ---------- ---------- ---------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 15,160 $ 21,563 $ 3,119 $119,751 $ 122,284 $186,390
Net transfers between Sub--
Accounts and Fixed Account..... 3,276 101,209 (35,586 ) 188,767 (431,983) 4,084,937
Withdrawals, surrenders,
annuitizations and contract
charges........................ (479 ) (28,493 ) (85,109 ) (28,268 ) (277,556) (416,075 )
---------- ---------- ---------- ---------- ----------- ----------
Net accumulation activity..... $ 17,957 $ 94,279 $(117,576 ) $280,250 $ (587,255) 3$,855,252
---------- ---------- ---------- ---------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ -- $ -- $ -- $ -- $ -- $ 30,708
Annuity payments................ -- -- -- -- (682) (1,119 )
Adjustments to annuity
reserve........................ -- -- -- -- (210) (764 )
---------- ---------- ---------- ---------- ----------- ----------
Net annuitization activity.... $ -- $ -- $ -- $ -- $ (892) $ 28,825
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $ 17,957 $ 94,279 $(117,576 ) $280,250 $ (588,147) 3$,884,077
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets......................... $ 79,100 $155,672 $ (70,182 ) $330,951 $ (481,216) 3$,861,672
NET ASSETS:
Beginning of period............... 386,941 231,269 661,035 330,084 6,773,372 2,911,700
---------- ---------- ---------- ---------- ----------- ----------
End of period..................... $ 466,041 $386,941 $ 590,853 $661,035 $ 6,292,156 6$,773,372
========== ========== ========== ========== =========== ==========
</TABLE>
See notes to financial statements
29
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
SB4 SCA1 SCA2
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (34,143) $ 87,064 $ 298,784 $ 121,386 $ 348,355 $142,200
Net realized gains (losses)....... (10,584) 29,816 -- -- (34,457) (27,836 )
Net unrealized gains (losses)..... 130,294 (209,993 ) -- -- 117,244 (167,158 )
----------- ---------- ------------ ----------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ 85,567 $(93,113 ) $ 298,784 $ 121,386 $ 431,142 $(52,794 )
----------- ---------- ------------ ----------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 6,114 $ 31,408 $ 21,424,344 $ 9,316,611 $ 5,788,064 2$,424,622
Net transfers between Sub--
Accounts and Fixed Account..... (1,850,981) 4,100,758 (13,624,180) 2,207,048 5,308,446 5,953,092
Withdrawals, surrenders,
annuitizations and contract
charges........................ (482,417) (391,898 ) (1,599,150) (299,102) (603,782) (374,597 )
----------- ---------- ------------ ----------- ----------- ----------
Net accumulation activity..... $(2,327,284) 3$,740,268 $ 6,201,014 $11,224,557 $10,492,728 8$,003,117
----------- ---------- ------------ ----------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ -- $ 16,929 $ 48,025 $ -- $ 65,187 $278,695
Annuity payments................ (471) (401 ) (87) -- (25,911) (10,840 )
Adjustments to annuity
reserve........................ (77) (633 ) (28) -- (8,139) 5,275
----------- ---------- ------------ ----------- ----------- ----------
Net annuitization activity.... $ (548) $ 15,895 $ 47,910 $ -- $ 31,137 $273,130
----------- ---------- ------------ ----------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $(2,327,832) 3$,756,163 $ 6,248,924 $11,224,557 $10,523,865 8$,276,247
----------- ---------- ------------ ----------- ----------- ----------
Increase (Decrease) in net
assets......................... $(2,242,265) 3$,663,050 $ 6,547,708 $11,345,943 $10,955,007 8$,223,453
NET ASSETS:
Beginning of period............... 6,645,982 2,982,932 11,347,946 2,003 8,241,486 18,033
----------- ---------- ------------ ----------- ----------- ----------
End of period..................... $ 4,403,717 6$,645,982 $ 17,895,654 $11,347,946 $19,196,493 8$,241,486
=========== ========== ============ =========== =========== ==========
</TABLE>
See notes to financial statements
30
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
SCA3 SCA4 SCA5
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999(a) June 30, 2000 1999(a)
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (14,484 ) $ 61,844 $ (19,341 ) $ (3,062 ) $ (46,887) $ 78,405
Net realized gains (losses)....... 2,719 (2,410 ) 58,346 5,981 248,708 3,631
Net unrealized gains (losses)..... 342,284 (70,578 ) (2,438 ) 217,754 803,943 437,614
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ 330,519 $(11,144 ) $ 36,567 $220,673 $ 1,005,764 $519,650
---------- ---------- ---------- ---------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 747,541 $407,264 $2,390,193 $278,857 $ 4,748,354 $398,676
Net transfers between Sub--
Accounts and Fixed Account..... 592,736 942,992 939,775 863,821 3,801,863 2,064,556
Withdrawals, surrenders,
annuitizations and contract
charges........................ (105,700 ) (35,618 ) (75,243 ) (16,360 ) (202,812) (16,795 )
---------- ---------- ---------- ---------- ----------- ----------
Net accumulation activity..... $1,234,577 1$,314,638 $3,254,725 1$,126,318 $ 8,347,405 2$,446,437
---------- ---------- ---------- ---------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ 1,812 $ 3,427 $ 1,763 $ -- $ 18,559 $ --
Annuity payments................ (387 ) (216 ) (149 ) -- (1,092) --
Adjustments to annuity
reserve........................ (7,331 ) 7,216 (298 ) -- (65) --
---------- ---------- ---------- ---------- ----------- ----------
Net annuitization activity.... $ (5,906 ) $ 10,427 $ 1,316 $ -- $ 17,402 $ --
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $1,228,671 1$,325,065 $3,256,041 1$,126,318 $ 8,364,807 2$,446,437
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets......................... $1,559,190 1$,313,921 $3,292,608 1$,346,991 $ 9,370,571 2$,966,087
NET ASSETS:
Beginning of period............... 1,321,017 7,096 1,346,991 -- 2,966,087 --
---------- ---------- ---------- ---------- ----------- ----------
End of period..................... $2,880,207 1$,321,017 $4,639,599 1$,346,991 $12,336,658 2$,966,087
========== ========== ========== ========== =========== ==========
</TABLE>
(a) For the period September 13, 1999 (commencement of operations) through
December 31, 1999.
See notes to financial statements
31
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
SCA6 WP1 WP2
Sub-Account Sub-Account Sub-Account
----------------------------- ----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31, Ended December 31,
June 30, 2000 1999(a) June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss)...... $ (7,241 ) $ (405 ) $ (28,314 ) $ 74,390 $ (11,527) $ 1,885
Net realized gains (losses)....... 8,900 897 295,901 82,122 7,025 126,813
Net unrealized gains (losses)..... 32,825 53,913 (697,112 ) 337,601 (168,936) 285,485
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets from operations....... $ 34,484 $ 54,405 $(429,525 ) $494,113 $ (173,438) $414,183
---------- ---------- ---------- ---------- ----------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received...... $ 609,174 $ 41,486 $ 917,058 $444,605 $ 227,479 $260,046
Net transfers between Sub--
Accounts and Fixed Account..... 554,594 406,855 1,644,885 1,127,692 940,932 446,267
Withdrawals, surrenders,
annuitizations and contract
charges........................ (72,085 ) (1,944 ) (71,658 ) (34,519 ) (241,735) (77,459 )
---------- ---------- ---------- ---------- ----------- ----------
Net accumulation activity..... $1,091,683 $446,397 $2,490,285 1$,537,778 $ 926,676 $628,854
---------- ---------- ---------- ---------- ----------- ----------
Annuitization activity:
Annuitizations.................. $ 17,422 $ -- $ 10,996 $ 17,475 $ 1,913 $ --
Annuity payments................ (708 ) -- (1,195 ) (925 ) (52) --
Adjustments to annuity
reserve........................ (5,534 ) 5,356 7,822 (10,499 ) (6) --
---------- ---------- ---------- ---------- ----------- ----------
Net annuitization activity.... $ 11,180 $ 5,356 $ 17,623 $ 6,051 $ 1,855 $ --
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net assets
from participant transactions.... $1,102,863 $451,753 $2,507,908 1$,543,829 $ 928,531 $628,854
---------- ---------- ---------- ---------- ----------- ----------
Increase (Decrease) in net
assets......................... $1,137,347 $506,158 $2,078,383 2$,037,942 $ 755,093 1$,043,037
NET ASSETS:
Beginning of period............... 506,158 -- 2,202,769 164,827 1,208,689 165,652
---------- ---------- ---------- ---------- ----------- ----------
End of period..................... $1,643,505 $506,158 $4,281,152 2$,202,769 $ 1,963,782 1$,208,689
========== ========== ========== ========== =========== ==========
</TABLE>
(a) For the period September 13, 1999 (commencement of operations) through
December 31, 1999.
See notes to financial statements
32
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
STATEMENTS OF CHANGES IN NET ASSETS -- continued
<TABLE>
<CAPTION>
WP3 WP4
Sub-Account Sub-Account
----------------------------- -----------------------------
Six Months Year Ended Six Months Year Ended
Ended December 31, Ended December 31,
June 30, 2000 1999 June 30, 2000 1999
-------------- ------------- -------------- -------------
<S> <C> <C> <C> <C>
OPERATIONS:
Net investment income (loss).......... $ (11,332 ) $ (3,389 ) $ (26,196 ) $ 83,413
Net realized gains (losses)........... 70,801 6,481 691,691 57,255
Net unrealized gains (losses)......... (55,180 ) 194,879 (1,018,454 ) 1,075,180
---------- ---------- ---------- ----------
Increase (Decrease) in net assets
from operations.................. $ 4,289 $197,971 $(352,959 ) 1$,215,848
---------- ---------- ---------- ----------
PARTICIPANT TRANSACTIONS:
Accumulation activity:
Purchase payments received.......... $ 148,363 $118,924 $ 736,071 $528,621
Net transfers between Sub--Accounts
and Fixed Account.................. 971,056 322,835 1,414,455 1,685,706
Withdrawals, surrenders,
annuitizations and contract
charges............................ (35,334 ) (36,788 ) (113,544 ) (56,865 )
---------- ---------- ---------- ----------
Net accumulation activity......... $1,084,085 $404,971 $2,036,982 2$,157,462
---------- ---------- ---------- ----------
Annuitization activity:
Annuitizations...................... $ 3,387 $ 18,900 $ 5,763 $ --
Annuity payments.................... (985 ) (794 ) (172 ) --
Adjustments to annuity reserve...... 5,024 (7,889 ) (139 ) --
---------- ---------- ---------- ----------
Net annuitization activity........ $ 7,426 $ 10,217 $ 5,452 $ --
---------- ---------- ---------- ----------
Increase (Decrease) in net assets from
participant transactions............. $1,091,511 $415,188 $2,042,434 2$,157,462
---------- ---------- ---------- ----------
Increase (Decrease) in net assets... $1,095,800 $613,159 $1,689,475 3$,373,310
NET ASSETS:
Beginning of period................... 750,106 136,947 3,744,591 371,281
---------- ---------- ---------- ----------
End of period......................... $1,845,906 $750,106 $5,434,066 3$,744,591
========== ========== ========== ==========
</TABLE>
See notes to financial statements
33
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS
(1) ORGANIZATION
Sun Life of Canada (U.S.) Variable Account F (the "Variable Account") is a
separate account of Sun Life Assurance Company of Canada (U.S.), (the
"Sponsor"), and was established on July 13, 1989 as a funding vehicle for the
variable portion of Futurity contracts, Futurity II contracts, Futurity Focus
contracts and Futurity Accolade contracts (collectively, the "Contracts") and
certain other group and individual fixed and variable annuity contracts issued
by the Sponsor. The Variable Account is registered with the Securities and
Exchange Commission under the Investment Company Act of 1940 as a unit
investment trust.
The assets of the Variable Account are divided into Sub-Accounts. Each
Sub-Account is invested in shares of a single corresponding investment portfolio
of certain registered open-end mutual funds. With respect to the Futurity
contracts, the Funds are: AIM Variable Insurance Fund, Inc., The Alger American
Fund, Goldman Sachs Variable Insurance Trust, J.P. Morgan Series Trust II, Lord
Abbett Series Fund, Inc., MFS/ Sun Life Series Trust, OCC Accumulation Trust,
Salomon Brothers Variable Series Fund, Inc. and Warburg Pincus Trust. With
respect to the Futurity II contracts, the Funds are: AIM Variable Insurance
Fund, Inc., The Alger American Fund, Goldman Sachs Variable Insurance Trust,
J.P. Morgan Series Trust II, Lord Abbett Series Fund, Inc., MFS/Sun Life Series
Trust, OCC Accumulation Trust, Sun Capital Advisers Trust and Warburg Pincus
Trust. With respect to the Futurity Focus contracts, the Funds are: AIM Variable
Insurance Funds, Inc., The Alger American Fund, Goldman Sachs Variable Insurance
Trust, J.P. Morgan Series Trust II, Lord Abbett Series Fund, Inc., MFS/Sun Life
Series Trust, OCC Accumulation Trust, Sun Capital Advisers Trust and Warburg
Pincus Trust. With respect to the Futurity Accolade contracts, the Funds are:
AIM Variable Insurance Funds, Inc., The Alger American Fund, Goldman Sachs
Variable Insurance Trust, J.P. Morgan Series Trust II, Lord Abbett
Series Fund, Inc., MFS/Sun Life Series Trust, OCC Accumulation Trust and Sun
Capital Advisers Trust (collectively, "the Funds"). Massachusetts Financial
Services Company, an affiliate of the Sponsor, is the investment adviser to
MFS/Sun Life Series Trust. Sun Capital Advisers Inc., an affiliate of the
Sponsor, is the investment adviser to Sun Capital Advisers Trust.
(2) SIGNIFICANT ACCOUNTING POLICIES
GENERAL
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires the Sponsor's
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenue and
expenses during the reporting period. Actual results could differ from those
estimates.
INVESTMENT VALUATIONS
Investments in shares of the Funds are recorded at their net asset value.
Realized gains and losses on sales of shares of the Funds are determined on the
identified cost basis. Dividend income and capital gain distributions received
by the Sub-Accounts are reinvested in additional Fund shares and are recognized
on the ex-dividend date.
Exchanges between Sub-Accounts requested by contract participants are recorded
in the new Sub-Account upon receipt of the redemption proceeds.
34
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(2) SIGNIFICANT ACCOUNTING POLICIES -- continued
FEDERAL INCOME TAX STATUS
The operations of the Variable Account are part of the operations of the Sponsor
and are not taxed separately. The Variable Account is not taxed as a regulated
investment company. The Sponsor qualifies for the federal income tax treatment
granted to life insurance companies under Subchapter L of the Internal Revenue
Code. Under existing federal income tax law, investment income and capital gains
earned by the Variable Account on contract owner reserves are not taxable and,
therefore, no provision has been made for federal income taxes.
(3) CONTRACT CHARGES
A mortality and expense risk charge based on the value of the Sub-Accounts
included in the Variable Account is deducted from the Variable Account at the
end of each valuation period for the mortality and expense risks assumed by the
Sponsor. The deductions are transferred periodically to the Sponsor. Currently,
the deduction is at an effective annual rate of 1.25% for Futurity and Futurity
II contracts, 1.00% for Futurity Focus contracts, 1.30% for Futurity Accolade
Level 1 contracts, 1.45% for Futurity Accolade Level 2 contracts, 1.55% for
Futurity Accolade Level 3 contracts and 1.70% for Futurity Accolade Level 4
contracts.
Each year on the account anniversary, an account administration fee ("Account
Fee") equal to the lesser of $30 in the case of Futurity contracts, $35 in the
case of Futurity II contracts and Futurity Accolade contracts and $50 in the
case of Futurity Focus contracts or 2% of the participant's account value in
Account Years one through five (thereafter, the Account Fee may be changed
annually, but it may not exceed the lesser of $50 or 2% of the participant's
account value) is deducted from the participant's account to reimburse the
Sponsor for certain administrative expenses. After the annuity commencement
date, the Account Fee will be deducted pro rata from each variable annuity
payment made during the year. As reimbursement for administrative expenses
attributable to contracts which exceed the revenues received from the Account
Fees, the Sponsor makes a deduction from the Variable Account at the end of each
valuation period at an effective annual rate of 0.15% of the net assets
attributable to such Contracts.
The Sponsor does not deduct a sales charge from purchase payments. However, a
withdrawal charge (contingent deferred sales charge) of up to 8% of certain
amounts withdrawn, when applicable, may be deducted to cover certain expenses
relating to the sale of the Futurity, Futurity II, Futurity Focus and Futurity
Accolade Contracts, including commissions paid to sales personnel, the costs of
preparation of sales literature, and other promotional costs and acquisition
expenses.
(4) ANNUITY RESERVES
Annuity reserves are calculated using the 1983a Individual Annuitant Mortality
Table and an assumed interest rate of 3% per year. Required adjustments to the
reserves are accomplished by transfers to or from the Sponsor.
35
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(5) UNIT ACTIVITY FROM PARTICIPANT TRANSACTIONS
<TABLE>
Units Transferred Units
Between Sub-Accounts Withdrawn,
and Surrendered,
Units Outstanding Fixed Accumulation and
Beginning of Period Units Purchased Account Annuitized
------------------------- ------------------------- ------------------------- -----------
Six Months Six Months Six Months Six Months
Ended Year Ended Ended Year Ended Ended Year Ended Ended
June 30, December June 30, December June 30, December June 30,
2000 31, 1999 2000 31, 1999 2000 31, 1999 2000
------- ------- ------ ------ -------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
FUTURITY CONTRACTS:
AIM1.......................... 227,735 141,292 6,215 37,449 35,712 68,417 (8,275)
AIM2.......................... 442,430 204,502 1,934 28,920 81,529 219,720 (15,388)
AIM3.......................... 799,385 332,662 577 43,138 (53,073) 451,578 (27,984)
AIM4.......................... 458,813 216,812 6,447 22,277 102,323 238,494 (17,688)
AL1........................... 755,329 285,990 3,629 96,119 (39,682) 424,506 (30,743)
AL2........................... 434,832 194,995 1,263 37,009 73,615 249,731 (20,286)
AL3........................... 182,220 77,472 125 12,426 24,558 96,080 (1,574)
GS1........................... 423,081 210,952 10,181 34,405 27,059 194,122 (10,476)
GS2........................... 80,363 31,476 20 556 2,205 51,143 (211)
GS3........................... 575,303 282,488 14,597 25,986 (16,386) 289,621 (32,447)
GS4........................... 301,072 199,770 17,688 10,206 15,625 109,158 (23,489)
GS5........................... 62,975 30,394 461 2,948 12,006 31,634 (814)
JP1........................... 568,955 293,787 10,800 83,392 12,569 220,364 (9,341)
JP2........................... 105,324 52,419 549 9,614 (6,451) 50,228 (531)
JP3........................... 41,135 22,655 822 8,150 6,768 11,780 (3,446)
LA1........................... 681,170 333,805 7,560 61,424 8,526 328,125 (33,523)
CAS........................... 490,436 403,733 832 35,843 21,537 74,342 (15,341)
EGS........................... 644,429 397,132 5,605 60,135 155,651 231,410 (49,892)
HYS........................... 581,114 217,924 4,940 27,858 (127,626) 363,603 (30,679)
MMS........................... 663,091 371,404 1,729 29,531 (19,336) 399,896 (81,327)
UTS........................... 762,245 278,221 4,435 49,525 17,557 482,058 (14,311)
GSS........................... 635,712 150,350 10,820 31,435 (42,003) 482,313 (21,947)
OP1........................... 770,005 363,748 19,751 45,042 (107,424) 407,891 (21,728)
OP2........................... 208,499 93,160 11,617 19,463 136,776 104,339 (4,880)
OP3........................... 235,529 86,567 114 11,061 (137,800) 152,550 (3,374)
SB1........................... 29,639 21,329 1,149 1,994 110 8,915 (34)
SB2........................... 58,715 32,282 273 11,451 (3,247) 17,512 (7,329)
SB3........................... 649,260 277,473 11,815 17,918 (41,981) 394,310 (26,669)
SB4........................... 657,323 293,921 615 4,406 (185,194) 398,605 (47,969)
WP1........................... 68,070 22,480 227 9,591 45,601 37,994 (1,301)
WP2........................... 52,931 18,253 9 5,461 16,379 36,942 (455)
WP3........................... 21,318 14,715 -- 4,811 55,054 5,081 (1,556)
WP4........................... 153,457 41,843 469 2,953 (10,401) 114,098 (1,065)
<S> <C> <C> <C>
Units Outstanding
End of Period
----------- -------------------------
-------------------------
Six Months
Year Ended Ended Year Ended
December June 30, December
31, 1999 2000 31, 1999
-------- ------- -------
FUTURITY CONTRACTS:
AIM1.......................... (19,423) 261,387 227,735
AIM2.......................... (10,712) 510,505 442,430
AIM3.......................... (27,993) 718,905 799,385
AIM4.......................... (18,770) 549,895 458,813
AL1........................... (51,286) 688,533 755,329
AL2........................... (46,903) 489,424 434,832
AL3........................... (3,758) 205,329 182,220
GS1........................... (16,398) 449,845 423,081
GS2........................... (2,812) 82,377 80,363
GS3........................... (22,792) 541,067 575,303
GS4........................... (18,062) 310,896 301,072
GS5........................... (2,001) 74,628 62,975
JP1........................... (28,588) 582,983 568,955
JP2........................... (6,937) 98,891 105,324
JP3........................... (1,450) 45,279 41,135
LA1........................... (42,184) 663,733 681,170
CAS........................... (23,482) 497,464 490,436
EGS........................... (44,248) 755,793 644,429
HYS........................... (28,271) 427,749 581,114
MMS........................... (137,740) 564,157 663,091
UTS........................... (47,559) 769,926 762,245
GSS........................... (28,386) 582,582 635,712
OP1........................... (46,676) 660,604 770,005
OP2........................... (8,463) 352,012 208,499
OP3........................... (14,649) 94,469 235,529
SB1........................... (2,599) 30,864 29,639
SB2........................... (2,530) 48,412 58,715
SB3........................... (40,441) 592,425 649,260
SB4........................... (39,609) 424,775 657,323
WP1........................... (1,995) 112,597 68,070
WP2........................... (7,725) 68,864 52,931
WP3........................... (3,289) 74,816 21,318
WP4........................... (5,437) 142,460 153,457
</TABLE>
36
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(5) UNIT ACTIVITY FROM PARTICIPANT TRANSACTIONS -- continued
<TABLE>
Units Transferred Units
Between Sub-Accounts Withdrawn,
and Surrendered,
Units Outstanding Fixed Accumulation and
Beginning of Period Units Purchased Account Annuitized
------------------------- ------------------------- ------------------------- -----------
Six Months Six Months Six Months Six Months
Ended Year Ended Ended Year Ended Ended Year Ended Ended
June 30, December June 30, December June 30, December June 30,
2000 31, 1999 2000 31, 1999 2000 31, 1999 2000
--------- ----- ------- ------- ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
FUTURITY II CONTRACTS:
AIM1.......................... 299,649 100 222,050 181,039 177,330 123,465 (10,873)
AIM2.......................... 997,502 1,049 404,396 538,285 491,103 482,701 (30,775)
AIM3.......................... 1,213,444 1,704 361,468 573,115 588,284 656,563 (65,166)
AIM4.......................... 659,564 2,553 436,871 277,892 478,292 405,813 (36,056)
AL1........................... 1,620,151 2,044 547,612 798,097 713,373 841,456 (101,558)
AL2........................... 755,933 1,785 291,847 330,958 369,942 441,029 (40,745)
AL3........................... 221,946 100 139,858 134,245 116,202 93,499 (17,761)
GS1........................... 610,853 786 124,601 340,043 223,471 282,453 (19,351)
GS2........................... 71,821 100 38,918 26,340 47,219 46,936 (1,789)
GS3........................... 714,634 2,341 168,735 322,630 (61,344) 417,400 (15,662)
GS4........................... 202,285 100 36,868 78,401 30,464 126,524 (7,405)
GS5........................... 119,879 578 114,622 58,284 43,821 62,982 (2,295)
JP1........................... 625,004 474 148,503 315,983 202,008 321,619 (12,977)
JP2........................... 118,543 100 78,730 57,728 85,030 63,482 (25,886)
JP3........................... 57,635 100 64,463 39,434 41,299 18,564 (2,907)
LA1........................... 982,146 1,763 212,120 389,191 466,478 607,156 (73,651)
CAS........................... 500,296 2,367 135,808 251,500 158,920 255,332 (24,894)
EGS........................... 804,467 3,662 494,712 455,194 593,257 370,763 (50,517)
HYS........................... 554,000 729 119,926 199,927 228,183 365,635 (28,618)
UTS........................... 552,461 821 279,309 237,960 344,562 334,919 (22,454)
GSS........................... 807,566 1,027 143,046 236,734 387,304 591,096 (43,221)
TRS (a) ...................... 211,045 -- 83,341 145,867 164,140 76,462 (8,422)
MIT (a)....................... 629,184 -- 298,050 274,552 414,162 361,529 (33,466)
NWD (a)....................... 99,212 -- 200,000 31,539 211,911 67,961 (7,484)
MIS (a)....................... 554,180 -- 413,168 314,530 420,556 250,304 (50,000)
OP1........................... 388,617 1,517 75,163 196,083 656,903 198,204 (28,207)
OP2........................... 108,852 150 67,236 95,779 49,752 17,112 (16,183)
OP3........................... 88,598 100 25,031 36,287 (16,433) 54,017 (12,646)
OP4........................... 196,817 100 28,726 120,357 50,889 78,975 (3,638)
SCA1.......................... 699,550 200 611,265 516,555 (83,610) 220,638 (118,378)
SCA2.......................... 768,145 1,806 195,479 212,361 519,886 603,561 (36,110)
SCA3.......................... 131,848 705 27,120 40,953 52,548 98,307 (5,501)
SCA4 (b)...................... 96,820 -- 72,172 14,166 65,126 84,139 (3,075)
SCA5 (b)...................... 217,115 -- 121,261 17,823 215,758 202,111 (8,024)
SCA6 (b)...................... 43,869 -- 30,550 3,004 47,015 41,050 (5,367)
WP1........................... 67,177 100 50,400 24,172 51,650 44,318 (3,265)
WP2........................... 29,939 100 13,485 17,409 32,843 12,438 (1,447)
WP3........................... 22,526 100 7,406 5,483 4,412 17,472 (453)
WP4........................... 79,878 100 35,988 41,639 60,173 39,443 (5,239)
<S> <C> <C> <C>
Units Outstanding
End of Period
----------- -------------------------
-------------------------
Six Months
Year Ended Ended Year Ended
December June 30, December
31, 1999 2000 31, 1999
-------- --------- ---------
FUTURITY II CONTRACTS:
AIM1.......................... (4,955) 688,156 299,649
AIM2.......................... (24,533) 1,862,226 997,502
AIM3.......................... (17,938) 2,098,030 1,213,444
AIM4.......................... (26,694) 1,538,671 659,564
AL1........................... (21,446) 2,779,578 1,620,151
AL2........................... (17,839) 1,376,977 755,933
AL3........................... (5,898) 460,245 221,946
GS1........................... (12,429) 939,574 610,853
GS2........................... (1,555) 156,169 71,821
GS3........................... (27,737) 806,363 714,634
GS4........................... (2,740) 262,212 202,285
GS5........................... (1,965) 276,027 119,879
JP1........................... (13,072) 962,538 625,004
JP2........................... (2,767) 256,417 118,543
JP3........................... (463) 160,490 57,635
LA1........................... (15,964) 1,587,093 982,146
CAS........................... (8,903) 770,130 500,296
EGS........................... (25,152) 1,841,919 804,467
HYS........................... (12,291) 873,491 554,000
UTS........................... (21,239) 1,153,878 552,461
GSS........................... (21,291) 1,294,695 807,566
TRS (a) ...................... (11,284) 450,104 211,045
MIT (a)....................... (6,897) 1,307,930 629,184
NWD (a)....................... (288) 503,639 99,212
MIS (a)....................... (10,654) 1,337,904 554,180
OP1........................... (7,187) 1,092,476 388,617
OP2........................... (4,189) 209,657 108,852
OP3........................... (1,806) 84,550 88,598
OP4........................... (2,615) 272,794 196,817
SCA1.......................... (37,843) 1,108,827 699,550
SCA2.......................... (49,583) 1,447,400 768,145
SCA3.......................... (8,117) 206,015 131,848
SCA4 (b)...................... (1,485) 231,043 96,820
SCA5 (b)...................... (2,819) 546,110 217,115
SCA6 (b)...................... (185) 116,067 43,869
WP1........................... (1,413) 165,962 67,177
WP2........................... (8) 74,820 29,939
WP3........................... (529) 33,891 22,526
WP4........................... (1,304) 170,800 79,878
</TABLE>
(a) For the period May 17, 1999 (commencement of operations) through
December 31, 1999.
(b) For the period September 13, 1999 (commencement of operations) through
December 31, 1999.
37
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(5) UNIT ACTIVITY FROM PARTICIPANT TRANSACTIONS -- continued
<TABLE>
Units Transferred Units
Between Sub-Accounts Withdrawn,
and Surrendered,
Units Outstanding Fixed Accumulation and
Beginning of Period Units Purchased Account Annuitized
------------------------- ------------------------- ------------------------- -----------
Six Months Six Months Six Months Six Months
Ended Year Ended Ended Year Ended Ended Year Ended Ended
June 30, December June 30, December June 30, December June 30,
2000 31, 1999 2000 31, 1999 2000 31, 1999 2000
------ --- ------- ------- -------- ------ -------
<S> <C> <C> <C> <C> <C> <C> <C>
FUTURITY FOCUS CONTRACTS:
AIM1 (a)...................... 13,617 -- 38,859 13,472 3,084 181 (2,713)
AIM2 (a)...................... 35,873 -- 53,008 34,933 1,163 1,199 (6,572)
AIM3 (a)...................... 54,107 -- 48,706 60,253 1,660 2,227 (1,814)
AIM4 (a)...................... 25,337 -- 36,776 26,210 10,804 (398) (6,251)
AL1 (a)....................... 38,842 -- 49,001 44,079 8,145 2,632 (1,783)
AL2 (a)....................... 32,436 -- 37,582 34,264 7,197 (404) (2,112)
AL3 (a)....................... 9,175 -- 20,748 9,602 4,701 (382) (749)
GS1 (a)....................... 4,085 -- 11,812 4,016 780 76 (84)
GS2 (a)....................... 1,112 -- 9,097 1,112 140 -- (50)
GS3 (a)....................... 20,598 -- 9,996 20,053 4,288 950 (1,710)
GS4 (a)....................... 29,257 -- 3,328 29,333 209 -- (426)
GS5 (a)....................... 8,621 -- 34,953 7,451 1,523 1,193 (964)
JP1 (a)....................... 18,690 -- 13,074 24,288 (7,532) 676 (1,318)
JP2 (a)....................... 12,234 -- 22,348 12,279 20,829 29 (19,327)
JP3 (a)....................... 2,709 -- 4,979 2,178 1,007 541 (552)
LA1 (b)....................... 40,278 -- 29,539 38,221 (2,801) 3,486 (3,315)
CAS (a)....................... 23,051 -- 17,361 21,046 2,551 2,087 (2,395)
EGS (a)....................... 41,308 -- 43,472 46,092 3,785 1,755 (2,559)
HYS (a)....................... 21,929 -- 26,240 25,654 3,737 1,092 (1,387)
UTS (a)....................... 20,685 -- 33,918 21,976 5,493 121 (1,845)
GSS (a)....................... 42,930 -- 12,084 48,404 (3,949) (5,086) (449)
TRS (b)....................... 8,841 -- 13,616 8,393 3,331 489 (120)
MIT (b)....................... 74,478 -- 19,933 74,974 2,606 1,759 (2,795)
NWD (b)....................... 7,128 -- 16,967 7,662 1,976 (525) (516)
MIS (b)....................... 29,925 -- 41,737 34,173 13,498 1,363 (1,327)
OP1 (a)....................... 7,388 -- 22,089 10,772 10,596 (3,121) (4,612)
OP2 (a)....................... 6,976 -- 13,020 10,112 (4,186) (2,840) (220)
OP3 (a)....................... 3,882 -- -- 3,882 (3,044) -- --
OP4 (a)....................... 5,669 -- 4,504 4,578 1,094 1,122 (187)
SCA1 (a)...................... 41,528 -- 170,245 252,106 (105,029) 9,073 (22,002)
SCA2 (a)...................... 34,584 -- 89,551 34,864 (10,923) 796 (19,484)
SCA3 (a)...................... 2,642 -- 5,432 2,727 2,197 289 (3,014)
SCA4 (c)...................... 1,940 -- 6,510 319 221 1,839 (1,743)
SCA5 (c)...................... 2,350 -- 16,456 100 4,844 2,630 (1,000)
SCA6 (c)...................... 1,253 -- 627 578 3,021 675 (1,210)
WP1 (a)....................... 1,472 -- -- 989 2,261 483 --
WP2 (a)....................... 861 -- 1,426 100 17,873 761 (17,066)
WP3 (a)....................... 100 -- 192 100 627 -- (158)
WP4 (a)....................... 194 -- 2,563 123 1,632 71 (27)
<S> <C> <C> <C>
Units Outstanding
End of Period
----------- -------------------------
-------------------------
Six Months
Year Ended Ended Year Ended
December June 30, December
31, 1999 2000 31, 1999
-------- ------- ------
FUTURITY FOCUS CONTRACTS:
AIM1 (a)...................... (36) 52,847 13,617
AIM2 (a)...................... (259) 83,472 35,873
AIM3 (a)...................... (8,373) 102,659 54,107
AIM4 (a)...................... (475) 66,666 25,337
AL1 (a)....................... (7,869) 94,205 38,842
AL2 (a)....................... (1,424) 75,103 32,436
AL3 (a)....................... (45) 33,875 9,175
GS1 (a)....................... (7) 16,593 4,085
GS2 (a)....................... -- 10,299 1,112
GS3 (a)....................... (405) 33,172 20,598
GS4 (a)....................... (76) 32,368 29,257
GS5 (a)....................... (23) 44,133 8,621
JP1 (a)....................... (6,274) 22,914 18,690
JP2 (a)....................... (74) 36,084 12,234
JP3 (a)....................... (10) 8,143 2,709
LA1 (b)....................... (1,429) 63,701 40,278
CAS (a)....................... (82) 40,568 23,051
EGS (a)....................... (6,539) 86,006 41,308
HYS (a)....................... (4,817) 50,519 21,929
UTS (a)....................... (1,412) 58,251 20,685
GSS (a)....................... (388) 50,616 42,930
TRS (b)....................... (41) 25,668 8,841
MIT (b)....................... (2,255) 94,222 74,478
NWD (b)....................... (9) 25,555 7,128
MIS (b)....................... (5,611) 83,833 29,925
OP1 (a)....................... (263) 35,461 7,388
OP2 (a)....................... (296) 15,590 6,976
OP3 (a)....................... -- 838 3,882
OP4 (a)....................... (31) 11,080 5,669
SCA1 (a)...................... (219,651) 84,742 41,528
SCA2 (a)...................... (1,076) 93,728 34,584
SCA3 (a)...................... (374) 7,257 2,642
SCA4 (c)...................... (218) 6,928 1,940
SCA5 (c)...................... (380) 22,650 2,350
SCA6 (c)...................... -- 3,691 1,253
WP1 (a)....................... -- 3,733 1,472
WP2 (a)....................... -- 3,094 861
WP3 (a)....................... -- 761 100
WP4 (a)....................... -- 4,362 194
</TABLE>
(a) For the period May 15, 1999 (commencement of operations) through
December 31, 1999.
(b) For the period May 17, 1999 (commencement of operations) through
December 31, 1999.
(c) For the period September 13, 1999 (commencement of operations) through
December 31, 1999.
38
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(5) UNIT ACTIVITY FROM PARTICIPANT TRANSACTIONS -- continued
<TABLE>
Units Transferred Units
Between Sub-Accounts Withdrawn,
and Surrendered,
Units Outstanding Fixed Accumulation and
Beginning of Period Units Purchased Account Annuitized
------------------------- ------------------------- ------------------------- -----------
Six Months Six Months Six Months Six Months
Ended Year Ended Ended Year Ended Ended Year Ended Ended
June 30, December June 30, December June 30, December June 30,
2000 31, 1999 2000 31, 1999 2000 31, 1999 2000
------- ------- ------- ------- -------- -------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS:
AIM1 - Lvl1 (a)............... 27,793 -- 255,860 28,060 (109,908) (36) (4,397)
AIM1 - Lvl2 (b)............... -- -- 121,617 -- 139,920 -- (7,349)
AIM1 - Lvl3 (b)............... -- -- 50,539 -- 1,893 -- (91)
AIM1 - Lvl4 (b)............... -- -- 5,141 -- 6,350 -- (8)
AIM2 - Lvl1 (a)............... 71,866 -- 332,676 71,949 (150,929) 184 (2,486)
AIM2 - Lvl2 (b)............... -- -- 144,966 -- 199,196 -- (2,448)
AIM2 - Lvl3 (b)............... -- -- 60,112 -- 2,107 -- (33)
AIM2 - Lvl4 (b)............... -- -- 50,333 -- 4,288 -- (5,040)
AIM3 - Lvl1 (a)............... 41,234 -- 342,286 41,491 (177,828) 64 (5,288)
AIM3 - Lvl2 (b)............... -- -- 59,020 -- 213,070 -- (1,732)
AIM3 - Lvl3 (b)............... -- -- 58,788 -- 8,534 -- (118)
AIM3 - Lvl4 (b)............... -- -- 52,171 -- 4,201 -- (5,247)
AIM4 - Lvl1 (a)............... 40,021 -- 477,200 40,241 (149,976) (216) (5,168)
AIM4 - Lvl2 (b)............... -- -- 181,852 -- 240,608 -- (9,609)
AIM4 - Lvl3 (b)............... -- -- 128,500 -- 2,988 -- (31)
AIM4 - Lvl4 (b)............... -- -- 10,644 -- 2,695 -- (8)
AL1 - Lvl1 (a)................ 77,992 -- 459,015 78,117 (224,699) 248 (4,540)
AL1 - Lvl2 (b)................ -- -- 121,703 -- 304,250 -- (7,810)
AL1 - Lvl3 (b)................ -- -- 49,343 -- 10,783 -- (22)
AL1 - Lvl4 (b)................ -- -- 13,964 -- 3,035 -- (10)
AL2 - Lvl1 (a)................ 25,358 -- 216,299 25,632 (31,783) 82 (3,477)
AL2 - Lvl2 (b)................ -- -- 66,734 -- 94,353 -- (4,389)
AL2 - Lvl3 (b)................ -- -- 74,152 -- 7,098 -- (22)
AL2 - Lvl4 (b)................ -- -- 6,921 -- 3,687 -- (10)
AL3 - Lvl1 (a)................ 12,969 -- 179,962 12,969 (94,204) 7 (4,235)
AL3 - Lvl2 (b)................ -- -- 82,593 -- 110,340 -- (951)
AL3 - Lvl3 (b)................ -- -- 23,311 -- 8,000 -- (19)
AL3 - Lvl4 (b)................ -- -- 8,350 -- 1,601 -- (6)
GS1 - Lv1 (a)................. 17,289 -- 137,816 17,566 (64,308) (22) 42
GS1 - Lv2 (b)................. -- -- 84,791 -- 75,594 -- (919)
GS1 - Lv3 (b)................. -- -- 32,857 -- -- -- (30)
GS1 - Lv4 (b)................. -- -- 1,262 -- 4,937 -- --
GS2 - Lvl1 (a)................ 1,775 -- 24,401 1,535 (10,028) 244 (2,072)
GS2 - Lvl2 (b)................ -- -- 10,388 -- 12,302 -- (55)
GS3 - Lvl1 (a)................ 23,427 -- 129,619 23,176 (75,668) 253 (430)
GS3 - Lvl2 (b)................ -- -- 39,083 -- 79,631 -- (482)
GS3 - Lvl3 (b)................ -- -- 9,402 -- -- -- --
GS4 - Lvl1 (a)................ 5,354 -- 34,897 5,354 1,101 -- --
GS4 - Lvl2 (b)................ -- -- 10,944 -- 15,372 -- (94)
GS4 - Lvl3 (b)................ -- -- 9,181 -- -- -- (5)
GS5 - Lvl1 (a)................ 6,582 -- 125,042 6,485 (37,086) 236 (1,999)
GS5 - Lvl2 (b)................ -- -- 47,582 -- 42,615 -- (263)
GS5 - Lvl3 (b)................ -- -- 31,670 -- -- -- (19)
GS5 - Lvl4 (b)................ -- -- 12,092 -- -- -- --
<S> <C> <C> <C>
Units Outstanding
End of Period
----------- -------------------------
-------------------------
Six Months
Year Ended Ended Year Ended
December June 30, December
31, 1999 2000 31, 1999
-------- ------- -------
FUTURITY ACCOLADE CONTRACTS:
AIM1 - Lvl1 (a)............... (231) 169,348 27,793
AIM1 - Lvl2 (b)............... -- 254,188 --
AIM1 - Lvl3 (b)............... -- 52,341 --
AIM1 - Lvl4 (b)............... -- 11,483 --
AIM2 - Lvl1 (a)............... (267) 251,127 71,866
AIM2 - Lvl2 (b)............... -- 341,714 --
AIM2 - Lvl3 (b)............... -- 62,186 --
AIM2 - Lvl4 (b)............... -- 49,581 --
AIM3 - Lvl1 (a)............... (321) 200,404 41,234
AIM3 - Lvl2 (b)............... -- 270,358 --
AIM3 - Lvl3 (b)............... -- 67,204 --
AIM3 - Lvl4 (b)............... -- 51,125 --
AIM4 - Lvl1 (a)............... (4) 362,077 40,021
AIM4 - Lvl2 (b)............... -- 412,851 --
AIM4 - Lvl3 (b)............... -- 131,457 --
AIM4 - Lvl4 (b)............... -- 13,331 --
AL1 - Lvl1 (a)................ (373) 307,768 77,992
AL1 - Lvl2 (b)................ -- 418,143 --
AL1 - Lvl3 (b)................ -- 60,104 --
AL1 - Lvl4 (b)................ -- 16,989 --
AL2 - Lvl1 (a)................ (356) 206,397 25,358
AL2 - Lvl2 (b)................ -- 156,698 --
AL2 - Lvl3 (b)................ -- 81,228 --
AL2 - Lvl4 (b)................ -- 10,598 --
AL3 - Lvl1 (a)................ (7) 94,492 12,969
AL3 - Lvl2 (b)................ -- 191,982 --
AL3 - Lvl3 (b)................ -- 31,292 --
AL3 - Lvl4 (b)................ -- 9,945 --
GS1 - Lv1 (a)................. (255) 90,839 17,289
GS1 - Lv2 (b)................. -- 159,466 --
GS1 - Lv3 (b)................. -- 32,827 --
GS1 - Lv4 (b)................. -- 6,199 --
GS2 - Lvl1 (a)................ (4) 14,076 1,775
GS2 - Lvl2 (b)................ -- 22,635 --
GS3 - Lvl1 (a)................ (2) 76,948 23,427
GS3 - Lvl2 (b)................ -- 118,232 --
GS3 - Lvl3 (b)................ -- 9,402 --
GS4 - Lvl1 (a)................ -- 41,352 5,354
GS4 - Lvl2 (b)................ -- 26,222 --
GS4 - Lvl3 (b)................ -- 9,176 --
GS5 - Lvl1 (a)................ (139) 92,539 6,582
GS5 - Lvl2 (b)................ -- 89,934 --
GS5 - Lvl3 (b)................ -- 31,651 --
GS5 - Lvl4 (b)................ -- 12,092 --
</TABLE>
(a) For the period of October 15, 1999 (commencement of operations) through
December 31, 1999.
(b) For the period of April 17, 2000 (commencement of operations) through
June 30, 2000.
39
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(5) UNIT ACTIVITY FROM PARTICIPANT TRANSACTIONS -- continued
<TABLE>
Units Transferred Units
Between Sub-Accounts Withdrawn,
and Surrendered,
Units Outstanding Fixed Accumulation and
Beginning of Period Units Purchased Account Annuitized
------------------------- ------------------------- ------------------------- -----------
Six Months Six Months Six Months Six Months
Ended Year Ended Ended Year Ended Ended Year Ended Ended
June 30, December June 30, December June 30, December June 30,
2000 31, 1999 2000 31, 1999 2000 31, 1999 2000
------ --- ------- ------ -------- ----- -------
<S> <C> <C> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS -- CONTINUED:
JP1 - Lvl1 (a)................ 6,455 -- 97,889 6,364 (48,037) 91 (225)
JP1 - Lvl2 (b)................ -- -- 9,693 -- 53,699 -- (210)
JP1 - Lvl3 (b)................ -- -- 1,006 -- -- -- --
JP1 - Lvl4 (b)................ -- -- -- -- 5,463 -- --
JP2 - Lvl1 (a)................ 10,730 -- 90,911 10,762 (55,634) (25) (132)
JP2 - Lvl2 (b)................ -- -- 20,220 -- 53,884 -- (215)
JP2 - Lvl3 (b)................ -- -- 24,187 -- 2,264 -- (13)
JP2 - Lvl4 (b)................ -- -- -- -- 2,353 -- (9)
JP3 - Lvl1 (a)................ 5,598 -- 76,141 228 44,986 5,370 (515)
JP3 - Lvl2 (b)................ -- -- 37,860 -- 29,610 -- (164)
JP3 - Lvl3 (b)................ -- -- 5,486 -- -- -- --
JP3 - Lvl4 (b)................ -- -- 420 -- -- -- --
LA1 - Lvl1 (a)................ 55,559 -- 219,327 55,648 (117,381) 333 (1,349)
LA1 - Lvl2 (b)................ -- -- 96,954 -- 119,778 -- (920)
LA1 - Lvl3 (b)................ -- -- 14,961 -- 11,713 -- --
LA1 - Lvl4 (b)................ -- -- 7,345 -- -- -- --
CAS - Lvl1 (a)................ 4,427 -- 139,450 4,427 (40,524) -- (797)
CAS - Lvl2 (b)................ -- -- 49,347 -- 45,763 -- (7,405)
CAS - Lvl3 (b)................ -- -- 7,471 -- -- -- --
CAS - Lvl4 (b)................ -- -- 46,024 -- 1,847 -- (4,812)
EGS - Lvl1 (a)................ 58,261 -- 433,603 54,055 (141,379) 4,868 (5,236)
EGS - Lvl2 (b)................ -- -- 157,646 -- 250,887 -- (8,410)
EGS - Lvl3 (b)................ -- -- 78,062 -- 1,218 -- (64)
EGS - Lvl4 (b)................ -- -- 11,526 -- 1,471 -- (5)
HYS - Lvl1 (a)................ 44,229 -- 170,327 44,529 (66,394) 279 (1,801)
HYS - Lvl2 (b)................ -- -- 40,977 -- 34,779 -- (452)
HYS - Lvl3 (b)................ -- -- 16,703 -- 8,835 -- --
HYS - Lvl4 (b)................ -- -- 3,503 -- -- -- --
UTS - Lvl1 (a)................ 49,859 -- 203,050 49,738 (76,441) 573 (3,374)
UTS - Lvl2 (b)................ -- -- 85,056 -- 121,175 -- (7,070)
UTS - Lvl3 (b)................ -- -- 59,037 -- 233 -- (104)
UTS - Lvl4 (b)................ -- -- 48,793 -- -- -- (5,238)
GSS - Lvl1 (a)................ 11,012 -- 82,645 10,569 (13,585) 448 (1,766)
GSS - Lvl2 (b)................ -- -- 45,834 -- 21,021 -- (103)
GSS - Lvl3 (b)................ -- -- 18,537 -- -- -- --
TRS - Lvl1 (a)................ 42,271 -- 175,196 42,576 (40,176) 259 (3,466)
TRS - Lvl2 (b)................ -- -- 22,896 -- 39,482 -- (102)
TRS - Lvl3 (b)................ -- -- 6,191 -- 1,904 -- --
TRS - Lvl4 (b)................ -- -- 2,686 -- -- -- --
MIT - Lvl1 (a)................ 48,386 -- 253,050 48,217 (164,698) 174 (2,282)
MIT - Lvl2 (b)................ -- -- 42,673 -- 167,257 -- (1,705)
MIT - Lvl3 (b)................ -- -- 9,813 -- 10,437 -- (4)
MIT - Lvl4 (b)................ -- -- 13,446 -- 3,590 -- (14)
<S> <C> <C> <C>
Units Outstanding
End of Period
----------- -------------------------
-------------------------
Six Months
Year Ended Ended Year Ended
December June 30, December
31, 1999 2000 31, 1999
------- ------- -------
FUTURITY ACCOLADE CONTRACTS --
JP1 - Lvl1 (a)................ -- 56,082 6,455
JP1 - Lvl2 (b)................ -- 63,182 --
JP1 - Lvl3 (b)................ -- 1,006 --
JP1 - Lvl4 (b)................ -- 5,463 --
JP2 - Lvl1 (a)................ (7) 45,875 10,730
JP2 - Lvl2 (b)................ -- 73,889 --
JP2 - Lvl3 (b)................ -- 26,438 --
JP2 - Lvl4 (b)................ -- 2,344 --
JP3 - Lvl1 (a)................ -- 126,210 5,598
JP3 - Lvl2 (b)................ -- 67,306 --
JP3 - Lvl3 (b)................ -- 5,486 --
JP3 - Lvl4 (b)................ -- 420 --
LA1 - Lvl1 (a)................ (422) 156,156 55,559
LA1 - Lvl2 (b)................ -- 215,812 --
LA1 - Lvl3 (b)................ -- 26,674 --
LA1 - Lvl4 (b)................ -- 7,345 --
CAS - Lvl1 (a)................ -- 102,556 4,427
CAS - Lvl2 (b)................ -- 87,705 --
CAS - Lvl3 (b)................ -- 7,471 --
CAS - Lvl4 (b)................ -- 43,059 --
EGS - Lvl1 (a)................ (662) 345,249 58,261
EGS - Lvl2 (b)................ -- 400,123 --
EGS - Lvl3 (b)................ -- 79,216 --
EGS - Lvl4 (b)................ -- 12,992 --
HYS - Lvl1 (a)................ (579) 146,361 44,229
HYS - Lvl2 (b)................ -- 75,304 --
HYS - Lvl3 (b)................ -- 25,538 --
HYS - Lvl4 (b)................ -- 3,503 --
UTS - Lvl1 (a)................ (452) 173,094 49,859
UTS - Lvl2 (b)................ -- 199,161 --
UTS - Lvl3 (b)................ -- 59,166 --
UTS - Lvl4 (b)................ -- 43,555 --
GSS - Lvl1 (a)................ (5) 78,306 11,012
GSS - Lvl2 (b)................ -- 66,752 --
GSS - Lvl3 (b)................ -- 18,537 --
TRS - Lvl1 (a)................ (564) 173,825 42,271
TRS - Lvl2 (b)................ -- 62,276 --
TRS - Lvl3 (b)................ -- 8,095 --
TRS - Lvl4 (b)................ -- 2,686 --
MIT - Lvl1 (a)................ (5) 134,456 48,386
MIT - Lvl2 (b)................ -- 208,225 --
MIT - Lvl3 (b)................ -- 20,246 --
MIT - Lvl4 (b)................ -- 17,022 --
</TABLE>
(a) For the period of October 15, 1999 (commencement of operations) through
December 31, 1999.
(b) For the period of April 17, 2000 (commencement of operations) through
June 30, 2000.
40
<PAGE>
FUTURITY, FUTURITY II, FUTURITY FOCUS AND FUTURITY ACCOLADE SUB-ACCOUNTS
INCLUDED IN
SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F
NOTES TO FINANCIAL STATEMENTS -- continued
(5) UNIT ACTIVITY FROM PARTICIPANT TRANSACTIONS -- continued
<TABLE>
Units Transferred Units
Between Sub-Accounts Withdrawn,
and Surrendered,
Units Outstanding Fixed Accumulation and
Beginning of Period Units Purchased Account Annuitized
------------------------- ------------------------- ------------------------- -----------
Six Months Six Months Six Months Six Months
Ended Year Ended Ended Year Ended Ended Year Ended Ended
June 30, December June 30, December June 30, December June 30,
2000 31, 1999 2000 31, 1999 2000 31, 1999 2000
------- --- --------- ------- ---------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
FUTURITY ACCOLADE CONTRACTS -- CONTINUED:
NWD - Lvl1 (a)................ 18,482 -- 144,996 18,756 (17,942) (74) (1,728)
NWD - Lvl2 (b)................ -- -- 63,075 -- 95,541 -- (532)
NWD - Lvl3 (b)................ -- -- 31,941 -- 100 -- (13)
NWD - Lvl4 (b)................ -- -- 4,753 -- 1,369 -- (5)
MIS - Lvl1 (a)................ 55,773 -- 301,399 55,995 (125,477) 35 (1,210)
MIS - Lvl2 (b)................ -- -- 162,099 -- 221,959 -- (1,144)
MIS - Lvl3 (b)................ -- -- 48,465 -- 2,896 -- (91)
MIS - Lvl4 (b)................ -- -- 3,613 -- 5,033 -- (15)
OP1 - Lvl1 (a)................ 102 -- 44,373 102 3,520 -- (1,832)
OP1 - Lvl2 (b)................ -- -- 21,139 -- 25,423 -- --
OP1 - Lvl3 (b)................ -- -- 33,991 -- 25 -- (9)
OP1 - Lvl4 (b)................ -- -- 5,648 -- 1,580 -- --
OP2 - Lvl1 (a)................ 19,070 -- 72,640 19,553 (37,916) (99) (774)
OP2 - Lvl2 (b)................ -- -- 20,832 -- 21,823 -- (129)
OP2 - Lvl3 (b)................ -- -- 15,275 -- 2,077 -- --
OP2 - Lvl4 (b)................ -- -- 2,255 -- 2,649 -- (11)
OP3 - Lvl1 (a)................ 102 -- 4,998 102 (1,620) -- (11)
OP3 - Lvl2 (b)................ -- -- 17,387 -- 751 -- (22)
OP3 - Lvl3 (b)................ -- -- 123 -- -- -- --
OP3 - Lvl4 (b)................ -- -- 5,736 -- 2,715 -- (11)
OP4 - Lvl1 (a)................ 25,785 -- 4,394 25,960 (2,728) 158 (696)
OP4 - Lvl2 (b)................ -- -- -- -- 5,045 -- --
OP4 - Lvl3 (b)................ -- -- 2,510 -- -- -- --
SCA1 - Lvl1 (a)............... 366,623 -- 1,052,059 380,262 (1,159,565) (13,639) (13,283)
SCA1 - Lvl2 (b)............... -- -- 173,619 -- 16,119 -- (922)
SCA1 - Lvl3 (b)............... -- -- 71,821 -- (2,097) -- --
SCA1 - Lvl4 (b)............... -- -- 6,862 -- -- -- --
SCA2 - Lvl1 (a)............... 11,553 -- 193,085 11,119 (68,510) 434 (2,329)
SCA2 - Lvl2 (b)............... -- -- 55,187 -- 97,890 -- (2,862)
SCA2 - Lvl3 (b)............... -- -- 46,097 -- 50 -- (9)
SCA3 - Lvl1 (a)............... 2,281 -- 31,643 2,115 (10,033) 166 (11)
SCA3 - Lvl2 (b)............... -- -- 5,566 -- 13,993 -- (1,335)
SCA3 - Lvl3 (b)............... -- -- 181 -- 22 -- --
SCA3 - Lvl4 (b)............... -- -- 425 -- -- -- --
SCA4 - Lvl1 (a)............... 9,027 -- 51,358 9,040 (23,951) (13) (128)
SCA4 - Lvl2 (b)............... -- -- 33,906 -- 28,444 -- (903)
SCA4 - Lvl3 (b)............... -- -- 8,449 -- 68 -- (4)
SCA4 - Lvl4 (b)............... -- -- 5,073 -- 4,576 -- --
SCA5 - Lvl1 (a)............... 17,878 -- 97,943 17,605 (20,054) 277 (4,524)
SCA5 - Lvl2 (b)............... -- -- 67,287 -- 65,203 -- (299)
SCA5 - Lvl3 (b)............... -- -- 20,409 -- 1,660 -- (20)
SCA5 - Lvl4 (b)............... -- -- 2,581 -- 2,149 -- (7)
SCA6 - Lvl1 (a)............... 394 -- 6,934 410 (5,825) (16) (148)
SCA6 - Lvl2 (b)............... -- -- 10,165 -- 7,300 -- --
SCA6 - Lvl3 (b)............... -- -- 6,438 -- -- -- --
<S> <C> <C> <C>
Units Outstanding
End of Period
----------- --------------------------
--------------------------
Six Months
Year Ended Ended Year Ended
December June 30, December
31, 1999 2000 31, 1999
------- ------- -------
FUTURITY ACCOLADE CONTRACTS --
NWD - Lvl1 (a)................ (200) 143,808 18,482
NWD - Lvl2 (b)................ -- 158,084 --
NWD - Lvl3 (b)................ -- 32,028 --
NWD - Lvl4 (b)................ -- 6,117 --
MIS - Lvl1 (a)................ (257) 230,485 55,773
MIS - Lvl2 (b)................ -- 382,914 --
MIS - Lvl3 (b)................ -- 51,270 --
MIS - Lvl4 (b)................ -- 8,631 --
OP1 - Lvl1 (a)................ -- 46,163 102
OP1 - Lvl2 (b)................ (1,548) 45,014 --
OP1 - Lvl3 (b)................ -- 34,007 --
OP1 - Lvl4 (b)................ -- 7,228 --
OP2 - Lvl1 (a)................ (384) 53,020 19,070
OP2 - Lvl2 (b)................ -- 42,526 --
OP2 - Lvl3 (b)................ -- 17,352 --
OP2 - Lvl4 (b)................ -- 4,893 --
OP3 - Lvl1 (a)................ -- 3,469 102
OP3 - Lvl2 (b)................ -- 18,116 --
OP3 - Lvl3 (b)................ -- 123 --
OP3 - Lvl4 (b)................ -- 8,440 --
OP4 - Lvl1 (a)................ (333) 26,755 25,785
OP4 - Lvl2 (b)................ -- 5,045 --
OP4 - Lvl3 (b)................ -- 2,510 --
SCA1 - Lvl1 (a)............... -- 245,834 366,623
SCA1 - Lvl2 (b)............... -- 188,816 --
SCA1 - Lvl3 (b)............... -- 69,724 --
SCA1 - Lvl4 (b)............... -- 6,862 --
SCA2 - Lvl1 (a)............... -- 133,799 11,553
SCA2 - Lvl2 (b)............... -- 150,215 --
SCA2 - Lvl3 (b)............... -- 46,138 --
SCA3 - Lvl1 (a)............... -- 23,880 2,281
SCA3 - Lvl2 (b)............... -- 18,224 --
SCA3 - Lvl3 (b)............... -- 203 --
SCA3 - Lvl4 (b)............... -- 425 --
SCA4 - Lvl1 (a)............... -- 36,306 9,027
SCA4 - Lvl2 (b)............... -- 61,447 --
SCA4 - Lvl3 (b)............... -- 8,513 --
SCA4 - Lvl4 (b)............... -- 9,649 --
SCA5 - Lvl1 (a)............... (4) 91,243 17,878
SCA5 - Lvl2 (b)............... -- 132,191 --
SCA5 - Lvl3 (b)............... -- 22,049 --
SCA5 - Lvl4 (b)............... -- 4,723 --
SCA6 - Lvl1 (a)............... -- 1,355 394
SCA6 - Lvl2 (b)............... -- 17,465 --
SCA6 - Lvl3 (b)............... -- 6,438 --
</TABLE>
(a) For the period of October 15, 1999 (commencement of operations) through
December 31, 1999.
(b) For the period of April 17, 2000 (commencement of operations) through
June 30, 2000.
41
<PAGE>
INDEPENDENT AUDITORS' REPORT
To the Participants in Futurity, Futurity II, Futurity Focus and Futurity
Accolade
and the Board of Directors of Sun Life Assurance Company of Canada (U.S.):
We have audited the accompanying statement of condition of AIM V.I. Capital
Appreciation Sub-Account, AIM V.I. Growth Sub-Account, AIM V.I. Growth and
Income Sub-Account, AIM V.I. International Equity Sub-Account, The Alger
American Growth Sub-Account, The Alger American Income and Growth Sub-Account,
The Alger American Small Capitalization Sub-Account, Goldman Sachs VIT CORE(SM)
Large Cap Growth Sub-Account, Goldman Sachs VIT CORE(SM) Small Cap Equity
Sub-Account, Goldman Sachs VIT CORE(SM) U.S. Equity Sub-Account, Goldman Sachs
VIT Growth and Income Sub-Account, Goldman Sachs VIT International Equity
Sub-Account, J.P. Morgan U.S. Disciplined Equity Sub-Account, J.P. Morgan
International Opportunities Sub-Account, J.P. Morgan Small Company Sub-Account,
Lord Abbett Growth and Income Sub-Account, MFS/Sun Life Capital Appreciation
Sub-Account, MFS/Sun Life Emerging Growth Sub-Account, MFS/Sun Life High Yield
Sub-Account, MFS/Sun Life Money Market Sub-Account, MFS/Sun Life Utilities
Sub-Account, MFS/Sun Life Government Securities Sub-Account, MFS/Sun Life Total
Return Sub-Account, MFS/Sun Life Massachusetts Investors Trust Sub-Account,
MFS/Sun Life New Discovery Sub-Account, MFS/Sun Life Massachusetts Investors
Growth Stock Sub-Account, OCC Equity Sub-Account, OCC Mid Cap Sub-Account, OCC
Small Cap Sub-Account, OCC Managed Sub-Account, Salomon Brothers Variable
Capital Sub-Account, Salomon Brothers Variable Investors Sub-Account, Salomon
Brothers Variable Strategic Bond Sub-Account, Salomon Brothers Variable Total
Return Sub-Account, Sun Capital Money Market Sub-Account, Sun Capital Investment
Grade Bond Sub-Account, Sun Capital Real Estate Sub-Account, Sun Capital Select
Equity Sub-Account, Sun Capital Blue Chip Mid Cap Sub-Account, Sun Capital
Investors Foundation Sub-Account, Warburg Pincus Emerging Markets Sub-Account,
Warburg Pincus International Equity Sub-Account, Warburg Pincus Post-Venture
Capital Sub-Account and Warburg Pincus Small Company Growth Sub-Account of Sun
Life of Canada (U.S.) Variable Account F, (the "Sub-Accounts") as of June 30,
2000, the related statement of operations for the six months then ended and the
statements of changes in net assets for the six months ended June 30, 2000 and
the year ended December 31, 1999. These financial statements are the
responsibility of management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Our procedures included confirmation of securities held at June 30,
2000 by correspondence with the custodian. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the financial position of the Sub-Accounts as of June 30, 2000 and the
results of their operations and the changes in their net assets for the
respective stated periods in conformity with accounting principles generally
accepted in the United States of America.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
August 11, 2000
<PAGE>
Semi-Annual Report
June 30, 2000
[LOGO]
A professionally managed annuity issued by Sun Life Assurance Company of Canada
(U.S.)
<TABLE>
<S> <C>
DIRECTORS AND OFFICERS OF SUN LIFE SUN LIFE ASSURANCE
ASSURANCE COMPANY OF CANADA (U.S.) COMPANY OF CANADA (U.S.)
--------------------------------------------- ---------------------------------------
DONALD A. STEWART, Chairman and Director ANNUITY SERVICE MAILING ADDRESS
C. JAMES PRIEUR, Vice Chairman and Director Sun Life of Canada (U.S.)
JAMES A. McNULTY, III, President and Director P.O. Box 9133
S. CAESAR RABOY, Director Boston, MA 02103-9986
RICHARD B. BAILEY, Director GENERAL DISTRIBUTOR
DAVID D. HORN, Director Clarendon Insurance Agency, Inc.
ANGUS A. MacNAUGHTON, Director One Sun Life Executive Park
WILLIAM W. STINSON, Director Wellesley Hills, MA 02481
GREGORY W. GEE, Director AUDITORS
PETER F. DEMUTH, Vice President and Deloitte & Touche LLP
Chief Counsel and Assistant Secretary 200 Berkeley Street
DAVEY S. SCOON, Vice President, Boston, MA 02116
Finance and Treasurer This report is prepared for the general information
RONALD J. FERNANDES, Vice President, of contract owners and participants. It is
Retirement Products and Services authorized for distribution to prospective
JAMES M.A. ANDERSON, Vice President, purchasers only when preceded or accompanied by an
Investments effective prospectus.
ROBERT P. VROLYK, Vice President and
Actuary
ELLEN B. KING, Counsel
and Secretary
</TABLE>
ACCOUNT INFORMATION : For account information, please call toll-free:
1-888-717-4387 anytime from a touch-tone telephone. To speak to a
customer service representative, please call toll-free: 1-888-786-2435
on any business day from 8 a.m. to 6 p.m. Eastern Standard time.
FUTUS-3 8/00 11M
