This year, there has been a slight but noticeable shift in var-iable annuity assets away from equity subaccounts toward fixed accounts and bonds. Following are variable annuity assets sorted by investment objective as of June 30, 2002.
As a percent oftotal assets6/30/0212/31/01
Equity54.5%58.5%
Fixed Accounts25.222.3
Balanced7.77.8
Bonds8.07.0
Money Market4.64.5
Source: National Assn. of Variable Annuities
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