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NAVA Reports Higher 3Q VA Sales

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U.S. variable annuities attracted $9.3 billion more in cash than they lost during the second quarter, up from a net inflow of $4.7 billion for the second quarter of 2005.

The National Association for Variable Annuities, Reston, Va., has published that data in a report based on its quarterly VA sales survey.

The percentage of cash flowing into equity options and allocation options increased to 69%, from 65%, while the share going into traditional fixed accounts fell to 20%, from 24%, according to NAVA.

Total net assets increased to $1.3 trillion Sept. 30, from $1.2 trillion a year earlier.