SunAmerica will switch to AIG Funds, as the company looks to re-launch itself in the mutual funds industry
Published By: Eunice Gettys on January 11, 2017 10:40 am EST
American International Group Inc (NYSE:AIG) announced its plans to rebrand its retail mutual funds industry from SunAmerica Mutual Funds to AIG Funds, according to the press release. Mutual funds are popular investment vehicles amongst the retail investors, as the rebrand aims to provide investors with further diverse options.
Under a single brand, financial professionals and retail consumers will have more focused investment, according to their needs. Stock market is at all-time high and trading financial markets have picked up since the elections. Re-launching the mutual funds sector comes at a right time, where a wave of optimism streams on Wall Street.
Chief executive of AIG’s Consumer Insurance, Kevin Hogan, seemed positive with his statement as AIG looks to strengthen the position in the mutual funds industry. He said, “We are committed to creating a leaner, more profitable and focused insurer. By aligning the SunAmerica brand more closely with AIG, we are able to leverage the strength and scale to build greater awareness and visibility among our core audience of financial professionals and consumers.”
Several analysts expect the mutual funds industry to thrive under the Trump administration. Lower corporate taxes, loosened regulations, and further fiscal stimulus are expected to enrich the corporations. Overall, the growth in the economy will provide boost to mutual funds industry as the markets are expected to have increased trading.
Equity funds, such as AIG International Dividend Strategy Fund and AIG Japan Fund, are anticipated to give higher returns as stock market continues to rise. The logo and name of the funds will be transferred under AIG brand, but the fund series is expected to remain under the name, Sun America. The advisors, portfolio managers, strategies and ticker symbols are all to be kept intact. However, one of the funds SunAmerica Focused Growth will be named to AIG Focused Mutli-Cap Growth. The changes along with the website will be made on February 28, 2017.