Skandia Adds Index and Sector Portfolios
January 29, 2001
American Skandia Life Assurance Corporation of Shelton, Conn. has added three index portfolios and eight sector portfolios to its fund offerings, according to the company.
The new index portfolios include the ProFund VP Bull Plus, VP Bear, and VP OTC portfolios. The new sector portfolios, which will be offered in American Skandia's lineup of variable annuities, include the ProFund VP Biotechnology, VP Real Estate, VP Energy, VP Technology, VP Financial, VP Telecommunications, VP Healthcare and the VP Utilities portfolios, according to American Skandia.
American Skandia launched the sector funds in response to investor demand, according to Christian Thwaites, senior vice president and chairman of American Skandia's investment committee. Investor interest in specific sectors has skyrocketed, she said. The company first offered sector investment portfolios in the fall of 1999 and the funds have been popular with investors seeking customized portfolios, according to Thwaites.