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Rating:Summit Tests the Target-Date Waters Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 26, 2007

Summit Tests the Target-Date Waters

News summary by MFWire's editors

Summit Investment Partners is now managing Lifestyle Exchange Traded mutual funds, which will be available on the UNIFI Retirement Advantage Series platform. Summit’s ETF options include three lifestyle investment strategies and a natural resources and commodities investment strategy.


Summit Investment Partners, Inc. (Summit), advisor of Summit Mutual Funds, announced that it is managing new Lifestyle Exchange Traded mutual funds (ETFs) designed to enhance the UNIFI Retirement Advantage SeriesSM platform offered by UNIFI Companies Retirement Plans. Summit’s ETF options include three lifestyle investment strategies and a natural resources and commodities investment strategy.

According to Summit, the Lifestyle Portfolios include Conservative, Target and Aggressive styles, and are well diversified with broad asset class exposure designed to meet investors’ objectives through single, convenient investment vehicles.

“Unlike traditional target risk or target date lifestyle funds, Summit’s Lifestyle Portfolios and Natural Resources Portfolios are dynamically managed, meaning that their asset mixes are reviewed and assessed on an ongoing basis by a team of experienced professionals,” said David Mazza, National Marketing Director of Summit.

Steve Sutermeister, President and Chief Executive Officer of Summit, said, “We believe that Summit’s Lifestyle Portfolios serve as a valuable addition to the UNIFI Retirement Advantage Series platform and play to our firm’s core strengths in both the bond and equities markets.”

Drew Powers, Vice President, UNIFI Companies Retirement Plans, said, “UNIFI Retirement Advantage Series is just one of a few group variable annuity contracts for retirement plan sales that offer ETFs for plan participants. We are pleased to add Summit Lifestyle and Natural Resource Portfolios to our investment platform, further enhancing our diverse selection of investment options for our plan sponsors.”

Plan sponsors can now enjoy over 60 investment options as well as programs geared toward providing fiduciary assistance, including the Fiduciary Investment Safeguard Program and a co-fiduciary option in conjunction with Morningstar Associates, LLC.

About Summit Mutual Funds – 2007 Lipper Award Winner – “Best Fixed Income Family” The advisor for Summit Mutual Funds is Summit Investment Partners, Inc., a Registered Investment Adviser, located in Cincinnati, Ohio. In addition to Summit Mutual Funds, Summit’s experienced and talented investment professionals also manage investments for insurance companies, pension funds, foundations and endowments. Summit Investment Partners, Inc. is a wholly-owned subsidiary of The Union Central Life Insurance Company. Union Central is affiliated with the UNIFI Companies – Ameritas Life, Acacia Life, Union Central Life and their affiliated companies. The firm manages assets in four asset classes including: Equity, Fixed Income (Core Fixed Income and High Yield), Commercial Mortgages and Real Estate. Visit the Summit Mutual Funds website at: www.summitfunds.com for more information. About UNIFI Companies Retirement Plans

The UNIFI Companies Retirement Plans is an affiliation of Ameritas Life Insurance Corp. and The Union Central Life Insurance Company’s retirement plans divisions. These companies represent the retirement plans products and services of the UNIFI Companies.

The UNIFI Retirement Advantage SeriesSM refers to group variable annuity contracts issued by Ameritas Life Insurance Corp. (Form AL 64349) and The Union Central Life Insurance Company (Forms UC 64349 and UC 64349NY). May not be available in all states.

For more information about these funds, please contact Jessie Ellen Waller, Director of Marketing, UNIFI Companies Retirement Plans – 1-800-923-2732, Ext. 87332 or visit us at the 2007 Center for Due Diligence Annual Conference for Advisors at the Fairmont Scottsdale Princess from October 1-3 in Scottsdale Arizona.

About Morningstar Associates, LLC

Morningstar Associates, LLC, provides data and tools for use by Ameritas Life Insurance Corp. and The Union Central Life Insurance Company and their representatives. Morningstar Associates, LLC is not affiliated with UNIFI Companies.  

Edited by: Erin Kello


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