MetLife to include ETFs in variable annuities

MetLife Inc. of New York said that State Street Global Advisors in Boston will subadvise a pair of exchange-traded-fund-focused asset allocation portfolios for the carrier’s variable annuities. Those portfolios will also be available with the carrier’s riders, including the Guaranteed Minimum Income Benefit Plus/Predictor Plus, Lifetime Withdrawal Guarantee and the Enhanced Death Benefit. Met Investors Advisory LLC, an Irvine, Calif.-based affiliate, will manage the new SSgA Growth ETF Portfolio and SSgA Growth & Income ETF Portfolio. SSgA Fund Management Inc. of Boston will use a tactical-asset-allocation approach in subadvising the portfolios, covering stocks, bonds and cash asset classes in developed and emerging markets.