SunTrust 2010 Annual Report Download - page 161

SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
(Dollars in millions)
Assets Measured
at Fair Value as
of December 31,
2009
Fair Value
Measurements as of
December 31, 2009 1
Quoted Prices In
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Mutual funds:
Large cap fund $37 $37 $- $-
Investment grade tax-exempt bond 25 25 - -
International fund 7 7 - -
Common and collective funds
SunTrust Reserve Fund 2 - 2 -
SunTrust Equity Fund 33 - 33 -
SunTrust Georgia Tax-Free Fund 27 - 27 -
SunTrust National Tax-Free Fund 18 - 18 -
SunTrust Aggregate Fixed Income Fund 7 - 7 -
SunTrust Short-Term Bond Fund 5 - 5 -
$161 $69 $92 $-
1Schedule does not include accrued income amounting to less than 0.1% of total plan assets.
The investment strategies related to the mutual funds in the Other Postretirement Benefits plans are similar to those for the
mutual funds in the Pension Benefits plans. The investment strategies related to the common and collective funds in the
Other Postretirement Benefits plans is discussed below:
Common and collective fund strategies:
The primary objective of the SunTrust Reserve Fund is to provide a high level of current income that is consistent with
the preservation of capital and liquidity by investing exclusively in investment grade fixed income securities. The net
asset value of the Fund is determined on each business day (“valuation date”). There are currently no redemption
restrictions on these investments. Fund units are issued and redeemed based upon the net asset value per unit
determined on the valuation date.
The primary objective of the SunTrust Equity Fund is to provide capital appreciation by investing in growth companies
with leadership positions. The Fund invests primarily in a portfolio of diversified equities. The net asset value of the
Fund is determined semi-monthly on the close of the 15th and last calendar day (“valuation date”). There are currently
no redemption restrictions on these investments. Fund units are issued and redeemed based upon the net asset value per
unit determined on the valuation date.
The primary objective of the SunTrust Georgia Tax-Free Fund is to produce a high level of current income, which is
exempt from U.S. income taxes and state taxes for Georgia residents. The fund primarily invests in high quality, fixed
income obligations of the state, counties, cities, and political subdivisions of Georgia. Investments include intermediate-
term and long-term maturities. The net asset value of the fund is determined semi-monthly on the close of the 15th and
last calendar day (“valuation date”). There are currently no investment redemption restrictions on these investments. Fund
units are issued and redeemed based upon the net asset value per unit determined on the valuation date.
The primary objective of the SunTrust National Tax-Free Fund is to produce a high level of income, which is exempt
from U.S. income taxes. The Fund primarily invests in high-quality bond securities from municipalities throughout the
U.S. The net asset value of the fund is determined semi-monthly on the close of the 15th and last calendar day
(“valuation date”). There are currently no investment redemption restrictions on these investments. Fund units are
issued and redeemed based upon the net asset value per unit determined on the valuation date.
The primary objective of the SunTrust Aggregate Fixed Income Fund is to provide a high level of total return through
current income and capital appreciation by investing primarily in investment grade fixed income securities. The net
asset value of the Fund is determined semi-monthly on the close of the 15th and last calendar day (“valuation date”).
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