State Street Global Advisors has been selected by Lincoln Financial Group to sub-advise variable life insurance and variable annuity investment options, which employ a tactical asset allocation strategy and invest in a range of investment solutions.

The new Lincoln variable insurance product, the SSgA Global Tactical Allocation Fund, incorporates a wide range of exchange-traded funds including State Street’s SPDR ETFs, as well as eight variable annuity funds currently sub-advised by SSgA Funds Management and offered in Lincoln variable life and annuity solutions.

“We are excited to expand our collaboration with State Street Global Advisors,” says Daniel Hayes, head of funds management, retirement solutions, Lincoln Financial Group. “Lincoln Financial is committed to providing access to the most sophisticated and advanced solutions in the insurance industry, and this endeavor will further enhance our investment portfolio for our valued clients.”

The fund was transitioned from its existing sub-adviser to State Street on 2 August 2010.

“Demand for ETFs in the variable life and annuity space has been significant due to the relatively low cost of ETFs and the trading and diversification benefits that these funds provide,” says Anthony Rochte, senior managing director at State Street Global Advisors. “SSgA’s client-focused solutions, such as our SPDR ETFs, combined with Lincoln Financial as an innovator in the insurance industry, present a powerful proposition to both financial advisors and investors alike.”