Advisers not thrilled by short deadline on variable annuity pullback
Volatility creates opportunity, famed investor points out; will this message get through to investors?
Strategies from investment firms BlackRock Financial Management Inc., DoubleLine Capital LP, F-Squared Investments Inc., and Forward Management LLC were added to the mix, as well as four other strategies from firms already on the Genworth platform.
Genworth Financial Inc. cut Chairman and Chief Executive Officer Michael Fraizer's annual bonus to a third of his target as the life insurer and mortgage guarantor failed to meet its goals.
The tax-exempt municipal bond market enjoyed favorable technical factors for much of the summer, which allowed it to outperform U.S. Treasuries.
Advisers are still fuming about the last-minute notice they received from Prudential informing them of a lock down of several popular annuities.
Stock prices do not reflect real possibility of automatic tax hikes, spending cuts
Profits (SPX) are moving U.S. equity prices more than any time since the bull market began 3 1/2 years ago, rewarding investors for picking stocks based on company data instead of following the herd rocked by Europe's debt crisis and the slowing U.S. economy.
Changes keep coming in the variable annuity space, as MetLife Inc. will stop taking additional contributions to VAs with legacy living and death benefits next Monday.
Though variable annuity sales continue to be dominated by a few big companies, lower-profile carriers may seek opportunities in product innovation and new distribution channels.
