By launching a new fund-of-funds called Portfolio Optimization Funds, Pacific Life Insurance Co. has added variety among the selections of 15 mutual funds and given permission to its registered representatives to open accounts and submit more investments.

After filling out a short questionnaire that determines investment style, a Pacific Life client will be matched up with the Portfolio Optimization Fund that best suits his or her objectives and risk tolerance.

The 136-year-old company also offers an asset allocation program called Portfolio Optimization, but hopes its new fund-of-funds streamlines that asset allocation even more.

"Now, registered representatives can give their mutual fund clients all the benefits of asset allocation in one simple step," said Kathleen Hunter, vice president of marketing in Pacific Life’s annuities and mutual funds division. "Diversification among asset classes and management companies is an important objective for many investors."

The company said its new platform, which will be modeled by Ibbotson Associates and consist of a multi-manager platform, will offer choices of A, B and C mutual fund shares.

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