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BOSTON, April 30, 2008 - Fidelity Investments Life Insurance Company (FILI)1 today announced the addition of new fund options to several of its primary annuity products, including: Fidelity Freedom Lifetime IncomeSM, Fidelity Personal Retirement AnnuitySM, Fidelity New Retirement Reserves®, and Fidelity Income Advantage®. The seven new funds will allow annuity customers to better meet their financial planning and retirement income goals.
In order to provide annuity customers more diversified investment options, Fidelity has added the following, effective today:
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The Fidelity Variable Insurance Products (VIP) FundsManager® program to the Fidelity Freedom Lifetime Income (FFLI) variable income annuity fund line-up.
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The Fidelity® VIP Emerging Markets and Fidelity® VIP FundsManager® 60% portfolios to the fund line-ups in the Fidelity Personal Retirement Annuity (FPRA), Fidelity New Retirement Reserves (NRR), and the Fidelity Income Advantage (FIA) annuity2.
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The Credit Suisse International Focus fund to the FPRA fund line-up.
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"Adding these new funds to our annuity product line-up helps our customers better diversify their retirement assets, which is an important strategy to employ in all types of market conditions," said Joan Bloom, senior vice president, Fidelity Investments Life Insurance Company.
"With the specific addition of the VIP FundsManager program, FILI now also offers customers in our Fidelity Freedom Lifetime Income annuity a choice of two different professionally managed solutions -- one for those who prefer their income to be managed based on their age, and another for those who prefer their income be professionally managed based on asset allocation, or investor type," said Bloom.
The new funds' management investment objectives and strategies are:
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VIP FundsManager Portfolios - (VIP FundsManager® 20, 50, 60, 70 and 85%): Managed by Scott Kuldell, CFA, VIP FundsManager Portfolios are a series of "funds of funds" offered as underlying investment vehicles within variable annuities. These portfolios may invest in Fidelity VIP funds as well as Fidelity retail mutual funds. The portfolios invest in a mix of stock, bond and money market funds and are named according to their target equity percentages. VIP FundsManager 20% has an overall objective of seeking high current income and capital appreciation, while the remaining portfolios seek high total return. Each VIP FundsManager fund compares its performance to a composite benchmark that reflects its target asset allocation.
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Fidelity VIP Emerging Markets Portfolio: Managed by Robert von Rekowsky, the VIP Emerging Markets Portfolio normally invests primarily in common stocks and allocates at least 80 percent of its assets in securities of issuers in emerging markets and other investments that are tied economically to emerging markets. The fund has an overall objective of seeking capital appreciation, and is benchmarked against the MSCI Emerging Markets (MSCI EM) Index3.
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Credit Suisse International Focus Fund: Managed by the Credit Suisse International Equity Team of Neil Gregson and Thomas Mann, the Credit Suisse International Focus Fund primarily invests in the world's foreign markets. The fund, which has an overall objective of seeking long-term capital appreciation, may invest up to 15 percent of its assets in emerging markets. The fund's primary benchmark is the MSCI Inc. EAFE Index4.
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The addition of these new funds brings the total number of investment options available today through FILI to 555. Additional information on FILI's annuity and life insurance products and services can be obtained at: www.Fidelity.com/annuities, by calling 1-800-FIDELITY, or by visiting one of Fidelity's more than 124 Investor Centers nationwide.
About Fidelity Investments Life Insurance Company
Established in 1987, Fidelity Investments Life Insurance Company (FILI) and for NY residents, Empire Fidelity Investments Life Insurance Company®, NY, NY, develop and market their own insurance products, in addition to distributing those of other well-known insurers. These products are made available to investors through FILI's internal distribution arm, Fidelity Insurance Agency, Inc. (FIA). FILI maintains an AA (very strong, 2nd highest) rating from S&P and an A+ (superior, 2nd highest) rating from A.M. Best6.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $3.2 trillion, including managed assets of more than $1.5 trillion as of March 31, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.
1In New York, Empire Fidelity Investments Life Insurance Company®, NY, NY.
2These changes also apply to the New York version of the products listed above.
3Morgan Stanley Capital International Emerging Markets (MSCI EM) Index is a market capitalization weighted index of equity securities of companies domiciled in various countries. The index is designed to represent the performance of emerging stock markets throughout the world and excludes certain market segments available to U.S. based investors.
4The Morgan Stanley Capital International Inc. (MSCI) EAFE Index (Europe, Australasia, Far East) is a free-float adjusted market capitalization index that is designed to measure developed-market equity performance, excluding the US and Canada. It is the exclusive property of MSCI Inc.
5Includes investment options available through FILI annuity products currently for sale (FPRA, FGGI and FFLI) as of 4/08.
6S&P rating reflects solid position in the variable annuity market, operating performance, capitalization, liquidity and investment quality, 01/07. A.M. Best rating reflects company's financial strength, 01/07.
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Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a prospectus containing this information. Read it carefully.
Annuity guarantees are subject to the claims-paying ability of the issuing insurance company.
Principal value and investment returns of a variable annuity will fluctuate and you may have a gain or loss when money is received or withdrawn.
Fidelity Brokerage Services, Member NYSE, SIPC
100 Summer Street, Boston, MA 02110 |
