MetLife Offers Two State Street-Subadvised ETF Asset Allocation Funds

November 21, 2008 ( - MetLife has announced that State Street Global Advisors (SSgA) will subadvise two tactical asset allocation portfolios investing primarily in exchange-traded funds (ETFs).

According to the announcement, for the new SSgA Growth ETF Portfolio and SSgA Growth & Income ETF Portfolio, Met Investors Advisory, LLC, an affiliate of MetLife, will act as manager, with SSgA Funds Management, Inc. as subadviser. SSgA will take a tactical asset allocation investment approach covering the major stock, bond, and cash asset classes of both developed and emerging markets.

Both Portfolios seek to add value by making a series of low-correlated tactical moves in a risk-controlled framework, MetLife said. They allow ranges of equity and fixed-income exposure against defined neutral targets.

The new portfolios will be offered through many of MetLife’s suite of deferred variable annuities and will be available with MetLife’s optional riders, including the Guaranteed Minimum Income Benefit Plus (GMIB Plus/Predictor Plus), Lifetime Withdrawal Guarantee (LWG), and Enhanced Death Benefit.