Genworth Financial Wealth Management has selected State Street Global Advisors to run six of its tactical asset allocation portfolios using exchange-traded funds.

Geared toward high-net-worth investors, the portfolios will offer an array of risk/return strategies. Tactical asset allocation attempts to exploit short-term market inefficiencies and deviations.

“We are delighted to bring SSgA’s sophisticated institutional investment management skill to the retail market through an offering that combines their strengths in asset allocation and ETFs,” said Michael Abelson, senior vice president, product management, at Genworth.

“The addition of State Street Global Advisors as a Genworth portfolio strategist will further enhance our industry-leading investment management platform,” Abelson continued.

State Street Managing Director Michael Dalis added, “This appointment is a great example of how leading financial services companies are leveraging our wide-ranging investment product and service expertise.”

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