The US bank has launched a new custom index in the US market via indexed annuity structures.
Bank of America has deployed a new underlying custom strategy in the US annuities market targeted at retirement investors concerned with market volatility. The BofA Iris U.S. Sectors Index is designed to smooth out the market’s ups and downs by using artificial intelligence (AI) to analyse data from companies listed on the domestic stock exchanges to guide its US equity sector allocation. The [new] index attempts to provide insight into forward looking expectations from company executiv
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