AIG SunAmerica Asset Management Corp., the Los Angeles mutual fund and asset management business of AIG SunAmerica Retirement Services, said it had started a large-cap portfolio that is to invest in both growth and value stocks.
The SunAmerica Focused Alpha Large-Cap Fund is the second publicly traded, closed-end fund offered by AIG SunAmerica Asset Management, the company said Friday. The SunAmerica Focused Alpha Growth Fund was started in July.
The new fund's objective is to achieve capital growth by using an investment style in which each subadviser selects as few as 10 or as many as 15 favorite stocks for its portion of the portfolio. Marsico Capital Management LLC is the large-cap growth stock subadviser, and Mercury Advisors is the large-cap value stock subadviser.
"Large-cap stocks appear cheaper than small- and mid-cap equities as a result of years of relative underperformance," said J. Steven Neamtz, the president of AIG SunAmerica Capital Services Inc., in a press release.
