Retirement Sales Soar at SunAmerica

SunAmerica Inc., a Los Angeles financial services firm, saw its sales of retirement savings products jump 35% in the first half of its fiscal year.

The company, which manages more than $25 billion of mutual fund and retirement accounts, sold $1.5 billion of products and services in the six months ending March 31.

SunAmerica, though subsidiary SunAmerica Life Cos., is one of the country's largest sellers of fixed and variable annuities. The company markets through 22,000 independent investment representatives, some affiliated with banks, and through two broker-dealer affiliates, Royal Alliance Associates and SunAmerica Securities.

Company executives attributed the upsurge in sales to the 76 million baby boomers who have begun saving more for retirement. The company expects boomers to save trillions of dollars in the next 25 years, with much of the money earmarked for mutual funds, annuities, and other investment products.

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