American Skandia Introduces New Investment Options as Sales Reach Record-Setting Levels for Company; VA's Now Cover All Morningstar Style Box Categories.SHELTON, Conn.--(BUSINESS WIRE)--Nov. 16, 1999-- American Skandia, one of the nation's leading distributors of investment products, has added 13 new sub-accounts to its innovative line of tax-deferred variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. , including seven new specialty funds. American Skandia is one of the first VA companies to offer sector funds designed for more industry-targeted investing. The addition of these portfolios offers financial planners and their clients even greater access to a wide array of investment options. American Skandia variable annuities now offer investment options covering all categories in the Morningstar Equity Style Box. Not only does American Skandia deliver a comprehensive lineup of core equity investment options appropriate for any asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. strategy, but the company has introduced a broad range of "special" equity holdings that allows investors to focus more closely on specific industry sectors, indices or disciplines. American Skandia's ongoing phenomenal success is confirmed by the company's growth in variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. sales, which showed gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of $1.7 billion during the third quarter of 1999. "We're excited about the addition of these new sub-accounts," said Wade Dokken, deputy chief executive officer at American Skandia. "They deepen our already premier line-up of equity managers and represent our ongoing efforts to identify, screen and select the top performing managers across all investment disciplines. Our record sales reflect the fact that planners have come to trust and value our investment selections." With the addition of 13 new portfolios, American Skandia's family of variable annuity funds now has a total of 48 sub-accounts that cover 25 distinct asset classes, all managed by among the best known names in money management. The recently introduced VA sub-accounts include: AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. MFS MFS Medicare fee schedule Global Equity AST MFS Growth with Income Evergreen VA Global Leaders Evergreen VA Special Equity Portfolio AST MFS Growth INVESCO VIF VIF - VHDL Interface Format. Intermediate language used by the Vantage VHDL compiler. "A VHDL Compiler Based on Attribute Grammar Methodology", R. Farrow et al, SIGPLAN NOtices 24(7):120-130 (Jul 1989). Dynamics In addition, American Skandia has introduced the following specialty funds: ProFund VP Europe INVESCO VIF Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. INVESCO VIF Health Sciences INVESCO VIF Technology INVESCO VIF Telecommunications ProFund VP SmallCap ProFund VP UltraOTC American Skandia's fundamental strategy includes forming investment alliances that draw upon the experience, market savvy and depth of research of some of the world's finest investment companies. American Skandia's product lines include mutual funds, variable annuities, variable life insurance and qualified retirement plans. The company's total assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. have now surpassed $26 billion. Call 1-800-SKANDIA for a prospectus containing more complete information on charges, expenses and tax consequences. It should be read carefully before you invest or send money. Information about the company and its products can also be found on the company Web site at www.americanskandia.com. Variable annuities, variable life insurance and qualified plans are issued by American Skandia Life Assurance Corporation. Mutual funds are issued by American Skandia Advisor Funds. All products are distributed by American Skandia Marketing Incorporated. American Skandia is located at One Corporate Drive, Shelton, CT 06484. |
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