Newport Beach, California-based Pacific Life Insurance Co. has launched a new class of funds, named Portfolio Optimization Funds which include five asset allocation "fund of funds" with a multi-manager platform, modeling by Ibbotson Associates, and a choice of A, B and C share classes.

The new family will allow immediate diversification among a selection of 15 mutual funds and allow advisors to open accounts, submit additional investments, and access statements and performance information online.

Pacific Life has offered Portfolio Optimization, its asset allocation program, to variable annuity and mutual fund clients since 1994 and 2001, respectively. Portfolio Optimization Funds replace the existing Portfolio Optimization models for Pacific Funds and Pacific Funds 529 Plans only.  

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