Taking a tip from its variable annuities, Aetna Life and Annuity of Hartford, Conn., recently introduced a mutual fund that provides a guarantee of principal against a possible market downturn.

Aeltus Investment Management, also of Hartford, an independent subsidiary of Aetna, Inc., opened Aetna Principal Protection Fund I, a fund that allows investors to protect their principal while participating in both equity and fixed-income markets.

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