Lincoln Financial Group has selected State Street Global Advisors (SSgA), the investment management business of State Street, to sub-advise its variable life insurance and variable annuity investment options, which employ a tactical asset allocation strategy and invest in a range of investment solutions.

The new Lincoln Variable Insurance Product (LVIP), the SSgA global tactical allocation fund incorporates a range of exchange traded funds (ETFs) including State Street’s SPDR ETFs, as well as eight variable annuity funds currently sub-advised by SSgA Funds Management, and offered in Lincoln variable life and annuity solutions including the Lincoln ChoicePlus Assurance variable annuity product platform.

SSgA manages eight individual sub-accounts as well as the LVIP SSgA Index and LVIP SSgA structured asset allocation offerings within the Lincoln ChoicePlus Assurance offering.

Daniel Hayes, head of funds management, retirement solutions at Lincoln Financial Group, said: “We are excited to expand our collaboration with State Street Global Advisors. Lincoln Financial is committed to providing access to the most sophisticated and advanced solutions in the insurance industry, and this endeavor will further enhance our investment portfolio for our valued clients.”

Anthony Rochte, senior managing director at State Street Global Advisors, said: “SSgA’s client-focused solutions, such as our SPDR ETFs, combined with Lincoln Financial as an innovator in the insurance industry, present a powerful proposition to both financial advisors and investors alike.”