NU Online News Service, Jan. 8, 10:03 a.m. – Pacific Life Insurance Company, Newport Beach, Calif., has added an equity income portfolio and a “research” portfolio from Putnam Investments, Boston, to the options available through its variable annuity and variable life insurance products.
The Putnam equity income portfolio invests in what managers believe to be low-priced stocks that offer the potential for current dividend income.
The “research” portfolio tries to achieve long-term increases in capital by investing in stocks suggested by Putnam equity analysts.
Pacific Life began selling two Putnam mutual funds based on the same investment strategies in November 2001.
Pacific Life has also hired Putnam to manage the equity and aggressive equity portfolios for its variable life and annuity products.
Putnam is a unit of Marsh & McLennan Companies Inc., New York.