Products May 29, 2008

Symetra Offers Prevention of Outliving Retirement Savings

Symetra Life Insurance Company launched an annuity allowing retirees to buy future income with a portion of their retirement savings.
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As today’s retirees are expected to live longer than previous generations, the Symetra Freedom Income Annuity functions as “longevity insurance.’ The product enables clients to use a small portion of savings to buy guaranteed income for their later years of retirement, according to the press release.

Using Symetra Freedom Income, clients can buy future income at today’s prices with a portion of their retirement savings, starting at 10 or 15%. The company suggests this is valuable because the future cost of income annuities will increase if average life spans continue to lengthen.

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For example, if a client wants $2,500 a month for life and purchases a Symetra immediate single premium income annuity at age 85, the premium would cost about $185,000 at today’s rates. However, if a 65-year-old client purchased the same monthly income to begin at age 85 through Symetra Freedom Income, the premium would cost around $31,000.

Clients choose a future date, typically 10 to 20 years, to begin collecting income based on their family history and financial needs. The company says the product offers more flexibility with their portfolio investments than they might with other income options. The annuity includes several optional features including a death benefit, an annual payment increase to help counter the effects of inflation, and an installment refund.


Products May 29, 2008

Forward Management Introduces Institutional Share Class to Funds

Forward Management, LLC, launched institutional share classes for three of its funds.
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The funds are the Forward Long/ShortCredit Analysis Fund, Forward Legato Fund, and Forward Progressive Real Estate Fund.

The Institutional share classes have lower expenses and a $100,000 investment minimum, according to a press release.

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Forward Long/Short Credit Analysis Fund (institutional class: FLSIX) uses a credit-based, relative value approach, attempting to maximize total returns while minimizing risk. The management team focuses on identifying opportunities created by market anomalies and inefficiencies across a wide variety of credit markets, the release said.

Forward Legato Fund (institutional class: FFLFX) invests in small-cap companies, employing a multi-manager approach and allocating portions to three different sub-advisers who utilize growth, value, and core investment strategies.

Forward Progressive Real Estate Fund (institutional class: FPREX) uses an active management strategy of fundamental financial analyses and qualitative criteria to uncover socially and environmentally progressive real estate management companies.

In addition, Forward Management announced it has introduced class A shares for the Forward Emerging Markets Fund. Class A shares have a 5.75% front-end load.

Forward Emerging Markets Fund (institutional class: PTEMX; class A: FEMAX) seeks long-term capital appreciation by investing at least 80% of its portfolio in securities of countries considered emerging markets. The portfolio team focuses on undervalued companies with strong fundamentals, the company said.

More information is available at www.forwardfunds.com.

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