MetLife has added a new option to the MetLife Protected Growth Strategies lineup available through its variable annuities with the GMIB Max and EDB Max optional benefit riders, the company said in a release.
The new option, a Multi-Index Targeted Risk Portfolio, combines a multi-index asset allocation approach with a risk management strategy. Specifically, the portfolio consists of a base portion investing in index portfolios coupled with a volatility overlay that uses an objective, rules-based approach to help manage the portfolio’s volatility.
MetLife Investment Management, LLC—a subsidiary of MetLife, Inc.—is responsible for managing the volatility overlay.
The MetLife Multi-Index Targeted Risk Portfolio is now available to new MetLife variable annuity contract holders who elect the MetLife Guaranteed Minimum Income Benefit Max (GMIB Max IV) or both the GMIB Max IV and the MetLife Enhanced Death Benefit Max (EDB Max IV) optional riders, each for an additional charge.
The Protected Growth Strategy portfolios lineup for these features now includes:
- AllianceBerstein Global Dynamic Allocation Portfolio
- AQR Global Risk Balanced Portfolio
- BlackRock Global Tactical Strategies Portfolio
- Invesco Balanced-Risk Allocation Portfolio
- JPMorgan Global Active Allocation Portfolio
- MetLife Balanced Plus Portfolio (co-managed with PIMCO)
- MetLife Multi-Index Targeted Risk Portfolio
- Schroders Global Multi-Asset Portfolio
