BELLEVUE, Wash.--(BUSINESS WIRE)--
Symetra Life Insurance Company today announced the availability of a
Yacktman Asset Management sub-advised fund on an exclusive, tax-deferred
basis in the new Symetra True Variable Annuity(SM). Yacktman will serve
as sub-adviser to one of the funds included in the Symetra Mutual Funds
Trust. Earlier today, Symetra Life unveiled its new True variable
annuity (VA), which is designed for clients of fee-based and fee-only
financial advisers who want low fees,1 tax deferral and
premier investment choices.
“A high-caliber investment lineup is central to Symetra True VA’s value
proposition,” said Tom Marra, president and chief executive officer of
Symetra Financial Corporation. “With a Yacktman sub-advised fund
exclusive to our variable annuity, investors will have access to a
highly sought-after fund strategy. When you add the benefits of tax
deferral, our partnership with Yacktman brings even more value to
advisers and their clients.”
Symetra Investment Management, Inc., a subsidiary of Symetra Financial
Corporation, will act as the investment adviser to the new Symetra
Mutual Funds Trust family of mutual funds. Yacktman will act as
sub-adviser of the Symetra Yacktman Focused Fund and will be responsible
for day-to-day portfolio management of the fund.
“We are delighted to be teaming up with Symetra in delivering this
unique investment option to the public,” said Donald Yacktman, president
and co-chief investment officer of Yacktman Asset Management Co.
The Symetra Yacktman Focused Fund will be managed by the team of Donald
Yacktman, Stephen Yacktman, Jason Subotky and Russell Wilkins.
The Symetra Yacktman Focused Fund seeks long-term capital
appreciation and, to a lesser extent, income. Under normal market
conditions, the Focused Fund pursues its investment objective by
investing a majority of its assets in common stock of U.S.
issuers. Some, but not all, Fund holdings may pay dividends. The Fund is
a non-diversified fund and generally will hold securities of fewer
issuers than the typical equity mutual fund. Consistent with this,
although the Fund invests in issuers of any size market capitalization,
the sub-adviser prefers larger companies to smaller ones.
Symetra Life Insurance Company is a subsidiary of Symetra Financial
Corporation (NYSE: SYA), a diversified financial services company based
in Bellevue, Wash. In business since 1957, Symetra provides employee
benefits, annuities and life insurance through a national network of
benefit consultants, financial institutions, and independent agents and
advisors. For more information, visit www.symetra.com.
About Yacktman Asset Management
Yacktman Asset Management Co. serves as an investment adviser to The
Yacktman Fund and The Yacktman Focused Fund, as well as separate
accounts for taxable and tax-exempt organizations. The firm follows a
disciplined investment strategy, typically purchasing high-quality
businesses at what it believes to be attractive prices. Founded in 1992,
the firm is based in Austin, Texas.
Before investing, carefully consider the investment objectives,
risks, charges and expenses. This and other information is contained in
the contract prospectus and the underlying fund prospectuses. You may
call or write your Registered Representative or Symetra for free copies
of the prospectuses or visit www.trueva.com
for online copies. Please read them carefully before investing.
Securities are distributed by Symetra Securities, Inc. (SSI). Symetra
True Variable Annuity is a flexible premium deferred variable annuity
issued by Symetra Life Insurance Company (SLIC). Contract form number is
ICC12_RC1 in most states and is not available in all U.S. states or any
U.S. territory. SSI and SLIC are affiliates and are both located at 777
108th Avenue NE, Suite 1200, Bellevue, WA 98004-5135.
Variable annuities, which are suitable for long-term investing, are
subject to market risks, including the loss of principal invested. Like
many variable annuities, this contract has terms and limitations for
keeping it in force. Please contact your Registered Representative for
1 Source: Morningstar survey of 1,854 variable annuities on
Dec. 31, 2011. The total mortality and expense, administrative and
distribution expense fees for True VA equal 0.60%, placing it in the
lowest quartile of variable annuities. If the maximum sub-account fund
facilitation fee of 0.15%, which is not currently charged, were included
in total expenses, True VA would still be in the lowest quartile of
variable annuities. The comparison of total expenses does not include
fees associated with the underlying funds.
Symetra Life Insurance CompanyDiana McSweeney, email@example.com
Source: Symetra Life Insurance Company