NU Online News Service, Feb. 2, 2004, 11:04 a.m. EST – Pacific Life Insurance Company, Newport Beach, Calif., has started a new “fund of funds” program.[@@]

Clients can use the new Portfolio Optimization Funds program to choose between 5 portfolios designed for investors with different needs and different levels of risk tolerance.

Pacific Life will use investment guidelines from Ibbotson Associates, Chicago, to put a new client’s funds in 15 different mutual funds. Registered representatives who sell the program can open accounts and get statements online, Pacific Life says.

Pacific Life is using the program to replace its existing portfolio optimization program for Pacific Funds and Pacific Funds 529 plan customers.