Corebridge Financial brings cryptocurrency to index annuities
Corebridge Financial announced the introduction of the Invesco New Economy Index, providing exposure to “some of the most innovative areas of the market,” including cryptocurrency, through the Corebridge Power Select Index Annuities.
The Invesco New Economy Index, created by asset management firm Invesco, aims to deliver “strong risk-adjusted returns” through dynamic allocations to two exchange-traded products, Invesco QQQ ETF (QQQ) and Invesco Galaxy Bitcoin ETF (BTCO). The new index is available exclusively in Power Select Index Annuities, which are part of the Corebridge family of index annuities and distributed by Market Synergy Group, one of the nation’s largest networks of independent marketing organizations.
Invesco QQQ ETF tracks the performance of the Nasdaq-100 Index, an index that contains the 100 largest non-financial companies on the Nasdaq Stock Exchange, providing exposure to “pioneering companies” that are at the forefront of transformative long-term themes such as augmented reality, cloud computing, big data, mobile payments, streaming services and electric vehicles. Invesco Galaxy Bitcoin ETF aims to track the spot price of bitcoin, providing a secure and simplified way to gain exposure to cryptocurrency.
“Corebridge Financial has long brought innovation and advancement to the annuity industry, and we are excited to do so again in partnership with Invesco and Market Synergy Group. We look forward to delivering this opportunity to our partners and their clients – a compelling combination of growth potential from new economic drivers alongside the principal protection and protected lifetime income that are fundamental to index annuities.” – Bryan Pinsky, President of Individual Retirement and Life Insurance at Corebridge Financial.
“Invesco is proud to bring together two of its most high demand investment capabilities in the Invesco New Economy Index, a tailored investment solution for Corebridge Financial. The dual allocation to Nasdaq-100 companies and spot bitcoin is another example of the innovative solutions Invesco can provide insurance companies looking to stay ahead of client demand.” – Peter Miller, Head of Client Investment Solutions, North America, Invesco.
