SHELTON, Conn. - American Skandia has added six investment portfolios to its variable annuity and variable life product lines and is making them available through banks.
The AST Kinetics Internet Portfolio seeks long-term capital growth by investing in companies that are developing Internet solutions or directly doing business online; the AST Gabelli All-Cap Value Portfolio seeks capital growth by investing in securities of all sizes, considering changes in economic and political outlooks as well as individual corporate developments; and the AST Scudder Japan Portfolio seeks long-term growth by investing at least 80% of net assets in Japanese securities.
Rounding out the new offerings are the AST Federated Aggressive Growth Portfolio, the AST Janus Strategic Value Portfolio, and the AST Lord Abbett Bond-Debenture Portfolio.
American Skandia sold $233 million of annuities through banks in the second quarter, according to the consulting firm Kenneth Kehrer Associates in Princeton, N.J.
