Pacific Life Insurance Company of Newport, Calif. is adding 12 mutual funds to its line up of life insurance and annuity products, according to a preliminary proxy statement filed with the Securities and Exchange Commission last week.

The new funds will be clones of variable annuity portfolios offered by Pacific Life and run by the existing sub-advisers. The funds cover a spectrum of investment styles including value, aggressive growth and a bond and money market fund, according to the filing. All of the new Pacific Funds will be sub-advised by large, well-known fund companies including AIM Funds of Houston, Tex., Janus Funds of Denver, PIMCO of Newport Beach, Calif., MFS of Boston, INVESCO of Denver, Salomon Brothers and Lazard Asset Management, both of New York, according to the proxy. The new funds include: PF AIM Blue Chip Fund, PF AIM Aggressive Growth Fund, PF INVESCO Health Sciences Fund, PF INVESCO Technology Fund, PF Janus Strategic Value Fund, PF Janus Growth LT Fund, PF Lazard International Value Fund, PF MFS Mid-Cap Growth Fund, PF MFS Global Growth Fund, PF PIMCO Managed Bond Fund, PF Pacific Life Money Market Fund and the PF Salomon Brothers Large-Cap Value Fund. The funds will include A, B and C shares, according to the prospectus. Currently Pacific offers 31 different annuity portfolios managed by 14 different money managers. With $14.5 billion in variable annuity assets under management as of the end of March, Pacific Life was the seventeenth largest issuer in terms of annuity assets, according to VARDS.

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