The Phoenix Companies has entered into a partnership with Credit Suisse to license the CS Tactical Multi Asset Index, a new Exchange Traded Fund (ETF)-based index available exclusively to Phoenix fixed indexed annuities and managed directly by Credit Suisse.
"Over the last five years, Phoenix has built a fixed indexed annuity product portfolio that offers a selection of indexed accounts featuring strategies that benefit from market gains, while offering protection from downside risk," said Dana Pedersen, vice president and product officer for Phoenix.
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"This new partnership with Credit Suisse and the addition of indexed accounts linked to an ETF-based index enhance the value we are able to offer through our existing fixed indexed annuities."
"Credit Suisse is excited to work with Phoenix to deliver a dynamic, cross-asset index to its investors, which demonstrates our strength and experience in designing innovative solutions for our partners," said James Masserio, Managing Director and Americas Head of Equity Derivatives for Credit Suisse.
Product Features
CS Tactical Multi Asset Index allocates across a selection of 10 ETFs with the goal of optimizing return for a given level of risk, measured by volatility. The index offers exposure to four separate asset classes and is dynamically re-balanced and based on concepts found in modern portfolio theory. While there is no direct investment in the Index, the annuity offers accounts that can receive credits for Index performance above a certain threshold (a "spread rate").
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By GlobalDataEnhancing Phoenix’s Existing Product Portfolio
Accounts offering the CS Tactical Multi Asset Index will be available on Phoenix’s four core fixed indexed annuity offerings: Personal Income Annuity, Personal Protection Choice?, Personal Retirement Choice? and Index Select Gold® Bonus. Each product will offer two new indexed accounts that track the CS Tactical Multi Asset Index, a 1- and 2-year point-to-point indexed account with a spread rate.
"The CS Tactical Multi Asset Index offers our customers an index with an innovative approach to asset class diversification while hedging against volatility," said Ms. Pedersen. "This approach helps to limit the impact any single asset class can have on the overall index and in turn, provides the potential for positive returns even when one of the asset classes may experience a downturn."
