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Genworth Financial's Private Asset Management Significantly Enhances Managed Account Lineup
New Company Is On Leading Edge of Rapidly Growing Market

RICHMOND, Va., Sept. 28 /PRNewswire-FirstCall/ -- Genworth Financial (NYSE: GNW - ) today announced several key enhancements to the wealth management offerings of its private asset management business. Industry consultants familiar with Genworth's growing retirement income and investments offerings say these enhancements firmly meet the growing needs of affluent investors, and the advisors who service them.

The upgrades, rolled out by Genworth's private asset management business, are focused on two main investment services: Privately Managed Portfolios (PMP) and GE Multiple Strategy Portfolios (GEMS). The improvements have been designed to accelerate growth and make the company's offerings more robust for financial advisor clients on three levels:

  • Highest Conviction Stock Selection. A new proprietary overlay structure allows access to a larger pool of investment management organizations, each of which provides a short list of stocks in which they have the highest level of conviction.

  • Wider Customer Access. Innovative overlay manager relationships lower individual investment manager account minimums, allowing investors to realize significantly enhanced diversification and hold additional asset classes such as commodities.

  • Active Asset Allocation. Through these enhancements, the company can more effectively adjust the asset mix of each client's portfolio to better respond to the changing stock and bond markets.

Industry consultants have reviewed these enhancements and agree that Genworth has clearly listened to its clients and responded in a strong way. According to Geof Bobroff, President of Bobroff Consulting, Inc., "Having seen their offerings, I believe the recent enhancements clearly respond to a market need."

Founded in 1985 and acquired by Genworth Financial in 2001, the company's private asset management business (GEPAM) provides customized investment management products and services to approximately 15,000 affluent investors nationwide through 1,300 independent advisors. Guided by a philosophy of equity "participation with protection," it pioneered the use of a professionally managed put option strategy for individuals, called Actively Managed Protection, to help limit portfolio downside during severe equity market declines.

"We're proud of the record of innovation and growth GEPAM has been able to achieve," said Pam Schutz, president and chief executive officer of Genworth's Retirement Income & Investments segment. "This high quality team has designed an affluent investor offering without peer in the industry."

Added Gurinder Ahluwalia, president of Private Asset Management: "This is another important step for us. As Baby Boomers retire in record numbers and the focus moves beyond growing assets to preserving and protecting them in retirement, we see the market for income distribution, as well as the investment expertise and advisor services we provide, continuing to grow."

Genworth Financial is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, with operations in 20 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit