Welcome To OneAmerica Funds

A Message From The Fund President

Welcome to the OneAmerica Funds website. OneAmerica Funds, Inc. has been in operation since 1989 and currently offers five portfolios: Value, Money Market, Investment Grade Bond, Asset Director and Socially Responsive. This website includes financial information, prospectuses and annual reports for each portfolio as well as insights from each portfolio's investment managers. I trust that you will find this information useful as you review your investments.

2011 was extremely challenging as investors were inundated by a multitude of global macroeconomic events. Concerns regarding the escalating debt crisis in Europe, Japan’s tsunami and the diminished credibility of U.S. fiscal policymakers created substantial headwinds for our domestic economic growth potential and investment returns. 

The fragile global environment caused many investors to view the U.S. as one of the safer investment destinations during 2011. Although the S&P 500 ended the year basically unchanged from year-end 2010, that lackluster performance still outperformed most major global equity benchmarks. U.S. Treasuries also provided attractive returns as investors desired the perceived safety of these securities. 

Investment performance for each portfolio in OneAmerica Funds, Inc. has been listed below for calendar year 2011.

Portfolio	Class O	Advisor Class
Value Portfolio	-2.4%	-2.7%
Money Market Portfolio	0.0%	0.0%
Investment Grade Bond Portfolio	7.4%	7.0%
Asset Director Porfolio	0.8%	0.5%
Socially Responsive Portfolio	-3.5%	-3.8%

Performance numbers for the OneAmerica portfolios are net of investment advisory fees and other expenses paid by each portfolio, but do not reflect specified contract, mortality and expense risk charges.

We believe in adhering to a disciplined, long-term investment approach during these volatile times. We appreciate your continued trust and investment in OneAmerica Funds, Inc. 

J. Scott Davison
President
OneAmerica Funds, Inc.

February 6, 2012