Does anyone know of an "umbrella" investment vehicle that:
(1) will accept a lump sum contribution all at once;
(2) will accommodate self-directed stock portfolios;
(3) can keep its annual fees and charges to 1.5% or less;
(4) is targetted for accumulating retirement funds; and
(5) will receive tax-deferred treatment on its earnings?

I have ruled out variable annuities due to their high fees. I have also been told that variable annuity monies can only be invested in mutual funds. Is this true?