American Skandia and Berger Associates Inc. form team to offer new growth equity fund.SHELTON, Conn.--(BUSINESS WIRE)--Nov. 29, 1994--American Skandia is pleased to announce the addition of a new growth portfolio to its 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. program. The new portfolio, Berger Capital Growth Portfolio, is managed by Rodney L. Linafelter, who is vice president and chief investment officer of Berger Associates Inc. The investment objective of the Berger Capital Growth Portfolio is long-term capital appreciation. Linafelter intends to achieve this strategy by investing in common stocks of established companies, with an emphasis on those that have favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. growth prospects. Linafelter believes that profitable, successful companies are apt to become profitable, successful investments. Formed on Oct. 19, 1994, this portfolio allows Berger to join a respected list of alternative asset managers offered by American Skandia, including Fred Alger Management, Alliance Capital Management, Janus Capital, Neuberger & Berman Management Inc., Phoenix Investment Counsel, Eagle Asset Management and Scudder, Stevens & Clark. Berger Associates Inc. is an investment firm founded in 1970 which manages three mutual funds as well as private accounts. The company employs a philosophy of investing in companies that it believes have an ongoing stream of predictable earnings growth. Berger Associates Inc. currently has $3.1 billion under management. American Skandia is the seventh largest underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. of variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. distributed throughout the U.S. by independent broker dealer markets, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. VARDS (October 1994). American Skandia's annuities offer investors a spectrum of investment choices, representing some of the foremost money managers in the world. Since beginning operations in 1988, American Skandia has experienced tremendous growth in the variable annuity marketplace. 1993 sales increased 300 percent over 1992 sales. Skandia Insurance Co. Ltd., a worldwide 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. organization based in Stockholm, Sweden, is the ultimate parent of American Skandia. Founded in 1855, Skandia Insurance Co. Ltd. has over $28 billion under management (as of Dec. 31, 1993) and offices in over 20 countries. CONTACT: Thompson Becker International Tad (Telephone Answering Device) An answering machine. Gillespie or Ann Becker, 508/698-0448 |
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