Venerable Investment Advisers, an investment advisor and subsidiary of Venerable Holdings, announced the launch of its initial line of investment funds, comprising approximately $9.9 billion in assets under management.
The investment funds from this launch, and future ones, serve as investment options for the separate accounts of insurance companies and incorporate the internal management of the underlying investment funds into the variable annuity business of Venerable Insurance and Annuity Company.
Venerable Advisers enlisted the investment advisory affiliates of Russell Investments and Franklin Templeton to provide sub-advisory services for the Venerable Variable Insurance Trust.
“This is an important milestone in the rollout of our investment advisory business, and we appreciate the collaboration of Russell Investments and Franklin Templeton along the way. We look forward to continuing to focus on optimizing our business and growing our AUM with future fund launches,” said Tim Brown, president of Venerable Advisers.
Zach Buchwald, president and CEO of Russell Investments, added that the multi-manager options are designed to address current investment challenges. “Russell is honored to partner with Venerable Advisers to offer a more efficient model that will help drive better outcomes for policyholders,” he added.
“The partnership with Venerable Advisers in launching their inaugural line of investment funds has required exceptional collaboration, focused on delivering results to clients,” said Jeff Masom, head of U.S. Distribution at Franklin Templeton.
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