The ever-increasing complexity of our securities laws has led to a great deal of confusion among investors over the differences between mutual funds and variable annuity sub-accounts. Are they the same thing or aren’t they? And if they really are mutual funds, then why can’t we just call them that? This article examines the similarities and differences between the two vehicles, and why a division exists between them—Read more at Investopedia. Cussen, Mark P. “Subaccounts: As Good Their Clone Funds?.” 25 June 2019