Variable annuities that use outside management firms represent more than one-third of the assets in the variable annuity market, are growing rapidly and are dominating industry sales, according to a study released last month.

Externally-managed variable annuities accounted for $237 billion, or 36 percent, of the total assets under management in the variable annuity market as of June 30, according to Financial Research Corp. of Boston, a financial services tracking and consulting firm.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.