The Standard has announced its APEX Series, a new stable value investment product that offers fund options and guaranteed rates through June 2023.
The APEX Series expands The Standard’s existing stable value portfolio by offering returns that reflect the rising corporate and treasury rate environment. “Stable value funds continue to be an attractive investment option in a rising interest rate environment,” says Scott Kaplan, assistant vice president of Institutional Products at The Standard. “The APEX Series offers four compelling stable value solutions for retirement investors seeking to take advantage of the current rate environment, while also benefiting from the security and backing of the strong ratings of The Standard.”
The APEX Series provides a conservative investment approach and consists of four different fund options designed to provide a guaranteed return of principal. Each fund is structured to offer varying rates of return based on its plan-level contract discontinuance provisions:
- APEX Guaranteed Fixed Interest Fund (4.45% Net): Six book value (principal and accumulated interest) installment payments over a five-year period.
- APEX Capital Preservation Income Fund (4.20% Net): Immediate payment at the lesser of book value (principal and accumulated interest) or market value lump sum or elect to receive six book value installment payments over a five-year period.
- APEX Stable Asset Fund (3.90% Net): Immediate payment at the lesser of book value (principal and accumulated interest) or market value lump sum or elect to receive six book value installment payments over a five-year period.
- APEX Guaranteed Rate Stable Value Fund (3.55% Net): Full book value (principal and accumulated interest) payment after a 12-month period.
The APEX Series launched on January 1 and is available through defined contribution (DC) plans such as a 401(k), 403(b), defined benefit, cash balance and others, depending on the fund.
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