NU Online News Service, Dec. 2, 2004, 6:55 p.m. EST
The continuing stock market rebound pushed U.S. variable annuity assets to $1 trillion at the end of the third quarter, up 13% from the Sept. 30, 2003, total.[@@]
VA assets increased even though the net flow of cash into variable annuities fell to $9.8 billion, down from $13 billion in the third quarter of 2003, according to the National Association for Variable Annuities, Reston, Va.
A rising stock market may have tilted overall asset allocation patterns more toward stocks and away from bonds, fixed accounts and money market accounts.
The percentage of VA assets in stock-based investment options and options that balance stocks with bonds increased to 63.6% Sept. 30, from 58.5% a year earlier.
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