Mutual funds that are used specifically as investments of variable annuities will now follow disclosure rules more in line with the rest of the fund world.

Earlier this month, the Securities and Exchange Commission adopted an amendment to Form N-1A, the registration form used by mutual funds to register under the Investment Company Act of 1940 and to offer shares under the Securities Act of 1933. The form will now require that a mutual fund that offers its shares exclusively as an investment option in a variable annuity contract or variable life insurance policy include a fee table in its prospectus.

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