Subadvisory services have proven an attractive market for many mutual funds, with a surprising amount of interest generated around the relatively small business of variable life. Often linked to variable annuity products offered by the same carrier, variable life subaccounts wield their own appeal.

At the National Association for Variable Annuities' annual variable life conference in Dallas last week, nearly a quarter of the exhibitor booths were occupied by asset managers. Vendors fishing for subadvisory deals included Berger Funds, Franklin Templeton Investments, INVESCO Funds Group, Salomon Brothers Asset Management and Van Eck Global.

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