Advanced Outcomes Annuity’s New Hedged Equity
Funds Create Structured Outcome Investments with an Active
Approach
Corebridge Financial today announced that its Advanced Outcomes
Annuity®, a variable annuity featuring structured outcome
investments, now includes hedged equity funds managed by Milliman
Financial Risk Management (Milliman FRM) and sub-advised by Capital
Group, home of the American Funds®.
“Our Advanced Outcomes Annuity helps financial professionals
take action for their clients as they seek to target higher growth
than many traditional structured annuities, provide strong downside
protection and deliver a valuable level of flexibility,” said Bryan
Pinsky, President of Individual Retirement at Corebridge Financial.
“We are excited to partner with renowned investor Capital Group to
bring active management to Advanced Outcomes Annuity with two new
structured outcome funds managed by Milliman FRM.”
A recent Greenwald Research survey commissioned by Corebridge
revealed that financial professionals want to invest in protection
with the potential for upside growth. Amid stock market volatility
and interest rate increases, 4 in 10 financial professionals
reported they are increasingly using structured solutions that
offer targeted downside protection.
The new hedged equity funds, Milliman-Capital Group Hedged
U.S. Growth Fund and Milliman-Capital Group Hedged U.S.
Income and Growth Fund, are structured outcome funds that take
an active approach in pursuing attractive returns while seeking to
limit downside market exposure. Capital Group first identifies a
select list of securities using its distinct investment process.
Milliman FRM then constructs the portfolio with an options overlay
designed for quarterly resets. The Capture-Reset-Reinvest
capability is part of every Advanced Outcomes Annuity investment
strategy and gives financial professionals and their clients the
opportunity to capture investment gains, refresh upside potential
and downside protection, and reinvest in a new strategy with a
different targeted outcome.
“We are thrilled to join with Corebridge Financial and Capital
Group to take the next step forward with the Advanced Outcomes
Annuity,” said Adam Schenck, Principal, Managing Director and Head
of Fund Services, Milliman Financial Risk Management. “In this
challenging investment environment, financial professionals want to
capture growth through equities but are wary of market declines.
Variable annuities featuring structured outcome investments can
become an important part of a portfolio that emphasizes long-term
growth while seeking to protect against a prolonged period of
market decline.”
“We are excited to partner with Corebridge Financial and
Milliman FRM to bring our proven track record of active management
to Advanced Outcomes Annuity and the structured investing space,”
said Steve Joyce, Insurance Business Segment Leader, Capital
Group.
In addition to the new hedged equity funds, Advanced Outcomes
Annuity recently added a trigger strategy to the structured outcome
funds managed by Milliman FRM. The trigger strategy targets
predefined growth when the referenced index performance is either
flat or positive and provides targeted downside protection using a
buffer against market losses over the six-month fund term.
For more information on Corebridge’s variable annuity featuring
structured outcome investments, please visit the Advanced Outcomes
Annuity website.
Advanced Outcomes Annuity offers structured outcome
investment strategies with underlying funds that have
characteristics unlike many other traditional investment products
and may not be suitable for all investors. There is no guarantee
that the outcomes for a specific fund term will be realized. An
investment in Advanced Outcomes Annuity involves investment risk,
including possible loss of principal. For more information
regarding whether an investment in these funds is right for you,
please see the product and fund prospectuses.
Hedged equity funds – Equity exposure is subject to an Extended
Buffer rate in down markets and a Cap rate in up markets.
Structured outcome funds – Equity exposure is subject to a Par
Down, Floor or Buffer rate in down markets and a Par Up, Cap,
Spread or Trigger rate in up markets.
Investment strategies terms pertain only to the fund term itself
and not the annuity. Advanced Outcomes Annuity features a 6-year
declining withdrawal charge schedule.
There is no assurance that a variable portfolio’s strategy or
investment process will achieve its specific investment
objectives.
Underlying Funds may employ Strategies which seek to provide a
‘structured outcome’ investment experience. The upside capture
parameters could limit the upside participation of these Underlying
Funds. Conversely, downside protection parameters provide limited
protection in the event of decreasing referenced index performance.
There is no guarantee that these Underlying Funds will completely
protect against referenced index price decreases. The parameters of
the Underlying Funds are designed to attempt to achieve their
objectives over the entirety of the Underlying Fund’s outcome
period. If you invest in these Underlying Funds after its specified
outcome period has already started, you risk your investment not
experiencing the full effect of the parameters. The specified
outcomes of these Underlying Funds may not be realized, and a
degree of under or over performance is likely. For more
information, please see the Underlying Funds’ prospectuses.
Variable annuities are long-term investments designed for
retirement. Early withdrawals may be subject to withdrawal charges.
Partial withdrawals may reduce benefits available under the
contract, as well as the amount available upon a full surrender.
Withdrawals of taxable amounts are subject to ordinary income tax
and if taken prior to age 59½, an additional 10% federal tax may
apply.
An investment in Advanced Outcomes Annuity involves investment
risk, including possible loss of principal. The contract, when
redeemed, may be worth more or less than the total amount invested.
Products and features may vary by state and may not be available in
all states or firms. We reserve the right to change fees for
features described in this material; however, once a contract is
issued, the fees will not change. The purchase of Advanced Outcomes
Annuity is not required for, and is not a term of, the provision of
any banking service or activity.
This material is general in nature, was developed for
educational use only, and is not intended to provide financial,
legal, fiduciary, accounting or tax advice, nor is it intended to
make any recommendations. Applicable laws and regulations are
complex and subject to change. Please consult with your financial
professional regarding your situation. For legal, accounting or tax
advice consult the appropriate professional.
All contract and optional benefit guarantees are backed by the
claims-paying ability of the issuing insurance company. They are
not backed by the broker/dealer from which this annuity is
purchased.
Advanced Outcomes Annuity is sold by prospectus only. The
prospectus contains the investment objectives, risks, fees,
charges, expenses and other information regarding the contract and
underlying funds, which should be considered carefully before
investing. A prospectus may be obtained by calling 1-877-445-1262.
Investors should read the prospectus carefully before
investing.
Advanced Outcomes Annuity is issued by American General Life
Insurance Company (AGL), Houston, TX, in all states except New
York. AGL does not solicit, issue or deliver policies or contracts
in the state of New York. Distributed by AIG Capital Services,
Inc. (ACS), member FINRA. All companies above are subsidiaries
of Corebridge Financial, Inc. Corebridge Financial and Corebridge
are marketing names used by subsidiaries of Corebridge Financial,
Inc.
Policy form number: AG-807 (06/21)
About Corebridge Financial
Corebridge Financial (NYSE: CRBG) makes it possible for more
people to take action in their financial lives. With more than $355
billion in assets under management and administration as of
December 31, 2022, Corebridge is one of the largest providers of
retirement solutions and insurance products in the United States.
We proudly partner with financial professionals and institutions to
help individuals plan, save for and achieve secure financial
futures. For more information, visit corebridgefinancial.com and
follow us on LinkedIn, YouTube, Facebook and Twitter.
About Milliman Financial Risk Management
Milliman Financial Risk Management LLC is a global leader in
financial risk management to the retirement savings industry.
Milliman FRM provides investment advisory, hedging, and consulting
services on approximately $161 billion in global assets (as of
December 31, 2022). Established in 1998, the practice includes more
than 200 professionals operating from four trading platforms around
the world (Chicago, London, Amsterdam and Sydney). Milliman FRM is
a subsidiary of Milliman, Inc. Milliman is among the world’s
largest providers of actuarial and related products and services.
The firm has consulting practices in healthcare, property &
casualty insurance, life insurance and financial services, and
employee benefits. Founded in 1947, Milliman is an independent firm
with offices in major cities around the globe. For more
information, visit milliman.com/FRM.
About Capital Group
Capital Group, home of American Funds, has been singularly
focused on delivering superior results for long-term investors
using high-conviction portfolios, rigorous research, and individual
accountability since 1931.
As of December 31, 2022, Capital Group manages approximately
$2.2 trillion in equity and fixed-income assets for millions of
individuals and institutional investors around the world. Capital
Group manages equity assets through three investment groups. These
groups make investment and proxy voting decisions independently.
Fixed-income investment professionals provide fixed-income research
and investment management across the Capital organization; however,
for securities with equity characteristics, they act solely on
behalf of one of the three equity investment groups.
For more information, visit capitalgroup.com.
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