BOSTON - Manufacturers Life Insurance Co.'s fund family has a new member, Venture Strategy.

The combination fixed and variable annuity fund is for clients of asset-based fee brokerage accounts from Manulife Financial Corp. These clients can use it to invest in a range of options, including stocks, bonds, mutual funds, and variable annuities for a single, preset fee rather than paying individual transaction costs.

Venture Strategy offers annuity benefits such as tax-deferred growth, tax-free transfers among portfolios, and a guaranteed death benefit. It is currently available through PaineWebber Inc.

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