US-based MetLife has introduced a new investment-focused variable annuity product, Investment Portfolio Architect, developed with a flexible design and streamlined approach to meet the needs of investors.
The new variable annuity has been designed to accommodate both investors who wish to build their own portfolios and those who seek asset allocation guidance.
MetLife retail retirement and wealth solutions executive vice-president Elizabeth Forget said: "At MetLife, we are committed to providing solutions to clients and financial professionals focused on accumulating wealth in a simple and efficient manner.
"The goal of MetLife Investment Portfolio Architect is to provide a flexible framework with well-curated investment choices, including access to the additional diversification alternative investments can offer, coupled with all the benefits of a variable annuity."
The new product allows investors to diversify their portfolios and manage portfolio risk through the addition of alternative investments.
It offers a flexible investment framework including 80 traditional and alternative investment options and 14 blueprint models. MetLife Advisers, along with investment advice provider Wilshire Associates, has designed the models.
Each of the blueprint models comprise alternative strategy component, the Permal Alternative Select VIT Portfolio. It is currently offered exclusively through MetLife Investment Portfolio Architect.