State Street Global Advisors (SSgA), the investment management
business of State Street Corporation (NYSE: STT), today announced
that it has been selected by Lincoln Financial Group (Lincoln)
(NYSE: LNC) to sub-advise variable life insurance and variable
annuity investment options, which employ a tactical asset
allocation strategy and invest in a wide range of investment
solutions.
The new Lincoln Variable Insurance Product (LVIP), the SSgA
Global Tactical Allocation Fund incorporates a wide range of
exchange traded funds (ETFs) including State Street’s SPDR® ETFs*,
as well as eight variable annuity funds currently sub-advised by
SSgA Funds Management, Inc. and offered in Lincoln Variable Life
and Annuity solutions including the Lincoln ChoicePlus AssuranceSM
variable annuity product platform.
“We are excited to expand our collaboration with State Street
Global Advisors,” said Daniel Hayes, head of Funds Management,
Retirement Solutions, Lincoln Financial Group. “Lincoln Financial
is committed to providing access to the most sophisticated and
advanced solutions in the insurance industry, and this endeavor
will further enhance our investment portfolio for our valued
clients.”
The fund was transitioned from its existing sub-advisor to SSgA
on August 2, 2010.
“Demand for ETFs in the variable life and annuity space has been
significant due to the relatively low cost of ETFs and the trading
and diversification benefits that these funds provide,” said
Anthony Rochte, senior managing director at State Street Global
Advisors. “SSgA’s client-focused solutions, such as our SPDR ETFs,
combined with Lincoln Financial as an innovator in the insurance
industry, present a powerful proposition to both financial advisors
and investors alike.”
SSgA manages eight individual sub-accounts as well as the LVIP
SSgA Index and LVIP SSgA Structured asset allocation offerings
within the Lincoln ChoicePlus AssuranceSM offering.
Backed by the full range of SSgA’s broad product offerings,
global reach and client support, SSgA’s US Sub-Advisory business
works with a wide range of mutual funds, defined contribution
recordkeepers, variable annuity and insurance companies.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln
National Corporation (NYSE:LNC) and its affiliates. With
headquarters in the Philadelphia region, the companies of Lincoln
Financial Group had assets under management of $140 billion as of
June 30, 2010. Through its affiliated companies, Lincoln Financial
Group offers: annuities; life, group life and disability insurance;
401(k) and 403(b) plans; savings plans; and comprehensive financial
planning and advisory services. For more information, including a
copy of our most recent SEC reports containing our balance sheets,
please visit www.LincolnFinancial.com.
About State Street Global Advisors
State Street Global Advisors (SSgA) is a global leader in asset
management that sophisticated investors worldwide rely on for a
disciplined investment process, powerful global investment platform
and access to every major asset class, capitalization range and
style. SSgA is the asset management business of State Street, one
of the world’s leading providers of financial services to
institutional investors. For more information, visit State Street
Global Advisors at www.ssga.com.
About State Street
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $19.0 trillion in assets under custody and
administration and $1.8 trillion in assets under management at June
30, 2010, State Street operates in 25 countries and more than 100
geographic markets worldwide. For more information, visit State
Street’s web site at www.statestreet.com.
*SPDR ETFs are managed by SSgA Funds Management, Inc., a
registered investment adviser and wholly owned subsidiary of State
Street Corporation.
ETFs trade like stocks, are subject to investment risk,
fluctuate in market value and may trade at prices above or below
the ETFs net asset value. Brokerage commissions and ETF expenses
will reduce returns.
Diversification does not necessarily prevent investment
losses.
Distributor for SPDR ETFs: State Street Global Markets, LLC,
member FINRA, SIPC, a wholly owned subsidiary of State Street
Corporation. References to State Street may include State Street
Corporation and its affiliates. Certain State Street affiliates
provide services and receive fees from the SPDR ETFs.
Before investing in any SPDR ETFs, consider the funds’
investment objectives, risks, charges and expenses. To obtain a
prospectus or summary prospectus which contains this and other
information, call 1-866-787-2257 or visit
www.spdrs.com. Read it carefully.
Variable annuities are long-term investment products designed
for retirement purposes and are subject to market fluctuation,
investment risk, and possible loss of principal. Variable annuities
contain both investment and insurance components, and have fees and
charges, including mortality and expense, administrative, and
advisory fees. Optional features are available for an additional
charge and are based on the financial strength of the insurer. The
annuity’s value fluctuates with the market value of the underlying
investment options, and all assets accumulate tax deferred.
Withdrawals of earnings are taxable as ordinary income and, if
taken prior to age 59½, may be subject to a 10% federal tax
penalty. Withdrawals will reduce the death benefit and cash
surrender value.
Investors are advised to consider the investment objectives,
risks, and charges and expenses of the variable annuity and its
underlying investment options carefully before investing. The
applicable variable annuity prospectus contains this and other
important information about the variable annuity and its underlying
investment options.
Please call 888 868-2583 for a free prospectus. Read it
carefully before investing or sending money. Products and features
are subject to state availability.
Lincoln ChoicePlus AssuranceSM variable annuities (contract form
30070-B and state variations) are issued by The Lincoln National
Life Insurance Company, Fort Wayne, IN distributed by Lincoln
Financial Distributors, Inc., and offered through broker/dealers
with an effective selling agreement. The Lincoln National
LifeInsurance Company is not authorized, nor does it solicit
business in the state of New York. Contractual obligations are
backed by the claims-paying ability of The Lincoln National Life
Insurance Company.
Policies sold in New York (contract forms 30070BNYA, 30070BNYC,
30070BNYAL, and 30070BNYN) are issued by Lincoln Life & Annuity
Company of New York, Syracuse, NY, and distributed by Lincoln
Financial Distributors, Inc. Contractual obligations are backed
by the claims-paying ability of Lincoln Life & Annuity Company
of New York.
CORP-0166
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