First Trust Advisors Plans Annuity Fund Group

January 01, 1999

irst Trust Advisors L.P. is scheduled to manage a new group of open-end funds for variable annuity contracts which includes a variety of index-based funds.

According to a filing with the Securities and Exchange Commission, the proposed First Defined Portfolio Fund LLC group will contain the following seven portfolios: the Dow Target 5 Portfolio, the Dow Target 10 Portfolio, the Global Target 15 Portfolio, the Target 10 Large Cap Portfolio, the Target 15 Large Cap Portfolio. The funds will be available to American Skandia Life Assurance Corporation Variable Account B to fund the benefits of variable annuity policies issued by American Skandia Life Assurance Corp.

The Dow Target 5 Portfolio will invest primarily in the common stocks of the five companies with the lowest per share stock price of the ten companies in the Dow Jones Industrial Average (DJIA) that have the highest dividend yields. The Dow Target 10 Portfolio will invest mainly in the common stocks of the ten companies in the DJIA with the highest dividend yields.

 

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