SunAmerica Inc. has launched two "concentrated" equity mutual funds through its money management arm, SunAmerica Asset Management Corp.
The Style Select Series Focus Portfolio, a long-term growth fund, uses three independent money managers, each of whom manages a third of the portfolio by choosing 10 stocks.
The managers are Elizabeth Bramwell of Bramwell Capital Management, Spiros Segalas of Jennison Associates LLC, and Tom Marsico of Marsico Capital Management LLC.
They are free to choose domestic or foreign securities, as well as stocks of any market capitalization.
SunAmerica's "Dogs" of Wall Street Fund, a value-oriented fund, invests in the 10 highest-yielding stocks in the Dow Jones industrial index, as well as 20 high-yielding stocks in the Standard & Poor's 400 index of industrial stocks.
The two funds are known as concentrated because they hold a small number of stocks.
SunAmerica, a Los Angeles insurance company, holds nearly $55 billion of assets on its balance sheet, in mutual funds and retirement savings accounts. Of this total, $3 billion is in mutual funds.