Insurer Symetra is making wholesale changes to its Mutual Funds Trust.
The Bellevue, WA-based firm is liquidating 14 Pension Reserve Funds and two Dimensional Fund Advisors offerings, according to a regulatory filing.
The DFA funds affected include the Symetra DFA U.S. CORE Equity Fund and the Symetra DFA International CORE Equity Fund. All of the funds are going to be liquidated by February 4. According to the filing, the firm is axing the funds because “of very low asset levels in each of the funds and high expenses.”
However, two Doubline Capital subadvised offerings within the trust, the Symetra DoubleLine Total Return Fund and the Symetra DoubleLine Emerging Markets Income Fund, are unaffected by the move.
Diana McSweeney, a spokesperson for the firm confirmed the planned liquidations and added: “We plan to direct our resources to other initiatives, including additional True VA enhancements. There are no changes to the DoubleLine sub-advised funds.”