Leading retirement plan provider eyes growth opportunity for award-winning mutual funds and stable value products
ENFIELD, Conn. – MassMutual Retirement Services is launching a new sales and operations team to more aggressively compete in the defined contribution investment only (DCIO) marketplace by promoting its award-winning mutual funds and stable value products.
“MassMutual’s mutual funds and stable value products are designed specifically to help retirement savers reach their goals and retire on their own terms,” said Elaine Sarsynski, Executive Vice President of Retirement Services and Worksite Insurance. “Our new team of seasoned professionals will work to make our retirement-focused funds available to even more plans and their participants.”
The new DCIO team is led by Aruna Hobbs, Senior Managing Director and Head of Institutional Investments, who joined MassMutual last fall to raise the company’s stature in the mutual funds universe. The unit includes the newly appointed DCIO sales team of Johanna Vogel, Managing Director, National Consultant Relations; Paul Webb, National Practice Leader - Adviser Channels; and Rob Olszewski and John Hipsher, Regional Investment Directors, who are charged with growing MassMutual Fund assets across the country. A four-member operations unit supports the DCIO sales team.
“There is a misconception that MassMutual’s funds are proprietary when the opposite is true,” Hobbs said. “The Funds select best-in-class managers and create unique combinations of specialized investment expertise that you can’t find anywhere else. Our multi-manager approach is well suited for financial advisors and plan sponsors who are looking for diversification. Additionally, these Funds are available on not just our own platform, but are also on more than 20 other platforms for use by advisors and plans.”
Last month, the MassMutual Funds won the 2015 Lipper Fund Award for Best Overall Small Fund Group, the second consecutive year the Funds have been honored for overall investment excellence. The win also marks the fourth Lipper Asset Class Group Award the MassMutual Funds have earned in three years. The MassMutual Funds include the MassMutual RetireSMARTSM, Select, and Premier Funds.
“Despite their excellent track record and multiple awards, MassMutual’s subadvised funds are one of the market’s best-kept secrets,” Hobbs said. “Sixty-three percent of our funds are rated four or five stars, nearly twice the average of Morningstar, a tribute to the exceptional work of our investment team. “We want more people see the value of our funds.
The DCIO team partners with MassMutual’s 80 regional sales directors and managing directors, and works with financial advisors and consultants, in the retirement plans marketplace. MassMutual aims to increase its $80 billion in assets under management for retirement plan sponsors by $30 billion in the next five years, Hobbs said.
“We strongly believe in our subadvisory approach that offers unique diversification benefits to retirement plan participants, plan sponsors and their financial advisors,” “Hobbs said. “We are ready to tell our story to the DCIO marketplace and compete with other top fund companies in the industry.”
The Funds and the DCIO team are complemented by the MassMutual Funds’ web site (www.MassMutualFunds.com), which offers information about the MassMutual Funds and the management team’s investment philosophy. Visitors to the site can also access fund performance, investor resources, qualitative analysis, prospectuses, shareholder reports, contact information and other documents.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
MassMutual’s Retirement Services Division has been serving retirement plans for more than 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 2.8 million participants.
The Lipper Asset Class Group Awards recognize the strong performance of multiple funds within key categories. The Lipper Fund Awards honor mutual funds and fund management firms for delivering superior performance relative to peers.