Pioneer Group, a large seller of mutual funds, has created a family of annuities for sale through banks and other outlets.
The Boston company's Pioneer Vision annuities feature eight investment options, including money market, real estate, income, and equity investments.
Seven of the portfolios are overseen by Pioneer's own investment managers. The eighth, a fixed-income annuity, is managed by a unit of State Mutual Life Assurance Company of America, Worcester, Mass.
Pioneer is waiving annual fees for accounts over $50,000 and for 401(k) plans as it launches the annuities.