Alliance Capital Management will acquire nine variable annuity funds from Brinson Advisors, a unit of UBS AG, according to published reports.

Under the deal, $108 million in assets will be transferred into existing portfolios under the Alliance Variable Product Series Fund Brand pending shareholder approval. Alliance, of New York, has been a sub-advisor to the funds since October, 2000.

Brinson said the portfolios were difficult to manage efficiently because of their "relatively small size"

The deal could close by the end of October

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