American Skandia Life Assurance Co. has begun marketing a new variable annuity to banks and other financial institutions.

Dubbed Axiom, the product offers 21 investment options, according to Wade Dokken, chief marketing officer at the Shelton, Conn., annuity company.

The investments include equity, fixed-income, international, and money market portfolios managed by no-load and load mutual fund companies. The companies include Scudder, Stevens & Clark Inc., Janus Capital Corp., Federated Investors, and T. Rowe Price.

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