SunAmerica Unveils Target Maturity Funds

June 29, 2004 ( - AIG SunAmerica Asset Management Corp has released a new series of target maturity funds.

The 2010 High Watermark, 2015 High Watermark and 2020 High Watermark Funds are continuously offered open-end mutual funds seeking to guarantee return of principal plus any gains achieved to those shareholders who remain invested to maturity, the firm said in a news release.   The trio of new products is offered for a variety of investors’ needs, including education and retirement funding.

The High Watermark Funds feature an investment approach that allocates assets to both equity and fixed income, becoming more conservative as the target maturity date approaches. Through this approach of allocating assets on a continuous basis to S&P 500 Index Futures as well as to non-callable U.S. Government Securities and high-grade money market instruments, SunAmerica says the High Watermark Funds capture growth while still maintaining value protection.

SunAmerica Asset Management Corp is the Funds’ manager.   The asset management group is the mutual fund and asset management company of AIG Retirement Services, Inc. and a member company of American International Group, Inc.