Pacific Life & Annuity Co has issued a supplement to its prospectus for variable annuity contracts, detailing significant updates that could affect investors. This filing, dated October 21, 2026, includes changes to the underlying funds and expense structures associated with its offerings. The updates are crucial as they provide clarity on fund management and investment options for current and potential clients.
Separate Account A of Pacific Life & Annuity Co is an investment entity based in Newport Beach, California. The company primarily deals with variable annuity contracts, providing various investment options to its clients. According to recent filings, the company has been active in updating its documentation, with multiple submissions made on the same day, indicating a focused effort on transparency and compliance.
The filing states, "The purpose of this supplement is to announce various underlying fund changes." Specifically, it notes that effective November 1, 2026, the underlying fund information related to current expenses will be updated. The changes include a new subadvisor for the Pacific Select Fund International Small-Cap, which will now be managed by Wellington Management Company LLP instead of FIAM LLC. Additionally, Citigroup Global Markets, Inc. has removed specific maximum issue age restrictions for contract issuance, which may broaden access to potential clients.
These changes may affect current policyholders and potential investors in variable annuities. By updating the underlying fund management and removing age restrictions, Pacific Life & Annuity Co aims to enhance its product offerings and attract a wider range of clients. The adjustments could lead to more competitive positioning within the variable annuity market, especially as investors seek flexible and accessible investment options.
Looking ahead, the filing does not specify what further actions will be taken following these updates. However, clients are encouraged to review the new prospectus and consider how these changes may impact their investment strategies.