Firm adds private equity-focused segregated fund
Canada Life Assurance Company (Canada Life) announced Monday a series of changes to its segregated fund shelf, introducing new investment managers and launching a new fund as part of an effort to simplify its offerings for financial advisors and their clients.
The changes affect select segregated funds across Canada Life’s lineup, with updated investment managers, fund names, risk ratings, availability status, and investment management fees where applicable, according to a news release.
Sam Febbraro, senior vice-president, Wealth Solutions at Canada Life, said the restructuring was designed with both advisors and clients in mind.
“These changes aim to strengthen our offering and align investment strategies with those that are sought after by our advisors and their clients,” Febbraro said. “At the same time, we are making our lineup easier for advisors to navigate, implement, and explain to clients – so they can spend more time focused on their client outcomes.”
The changes draw on relationships built through Canada Life’s acquisitions of Counsel Portfolio Services Inc., which has since amalgamated with Canada Life Investment Ltd., and Value Partners Investments Inc. Among the firms newly featured on the fund shelf are Picton Mahoney Asset Management, Marsico Capital Management, and Fidelity Investments Canada ULC, the latter providing access to products such as the Fidelity Global Innovators Fund and the Fidelity Multi-Asset Innovation Fund.
Canada Life segregated funds
|
New Segregated Fund Name |
New Investment Manager |
|
VPI Corporate Bond |
Canso Investment Counsel Ltd. |
|
VPI Canadian Balanced |
Dixon Mitchell Investment Counsel Inc. |
|
Fidelity Multi-Asset Innovation® |
Fidelity Investments Canada ULC |
|
Canadian Fixed Income Balanced II |
|
|
Canadian Equity Value III |
Mackenzie Investments |
|
Canadian Equity Value IV |
Mackenzie Investments |
|
Canadian Growth Equity |
Picton Mahoney Asset Management |
|
Canadian Growth II |
Mackenzie Investments |
|
Canadian Large Cap Equity Index ETF II |
Mackenzie Investments |
|
VPI Canadian Equity |
Value Partners Investments Inc. |
|
US Growth |
Marsico Capital Management, LLC |
|
US Large Cap Equity Index ETF II |
Mackenzie Investments |
|
US Value II |
The Putnam Advisory Company, LLC |
|
Fidelity Global Innovators® |
Fidelity Investments Canada ULC |
|
Global All Cap Equity II |
Keyridge Asset Management Ltd. |
|
Global Dividend Equity |
Acadian Asset Management LLC |
|
Global Equity |
Mackenzie Investments |
|
International Equity Index ETF II |
Mackenzie Investments |
Source: Canada Life Investment Management Ltd.
Canada Life segregated funds originally with Great-West Life
|
Segregated Fund |
New Investment Manager |
|
VPI Canadian Balanced |
Dixon Mitchell Investment Counsel Inc. |
|
Canadian Equity Value |
Mackenzie Investments |
|
Canadian Equity Value II |
Mackenzie Investments |
|
Canadian Growth Equity |
Picton Mahoney Asset Management |
|
Canadian Growth Equity II |
Picton Mahoney Asset Management |
|
VPI Canadian Equity |
Value Partners Investments Inc. |
|
Global All Cap Equity II |
Keyridge Asset Management Ltd. |
|
International Equity II |
JPMorgan Asset Management (Canada) Inc. |
Source: Canada Life Investment Management Ltd.
“I am very excited that we are bringing some of the strong relationships we have across our other businesses to our segregated fund shelf,” Febbraro said. “We’ve worked closely with strong firms like Picton Investments and Marsico, and we’re investing in mutual funds managed by Value Partners Investments Inc. through our new relationship with them.”
Alongside the fund shelf changes, Canada Life also launched the Global Listed Private Equity segregated fund on the same date. The fund seeks long-term capital appreciation by investing in the Counsel Global Listed Private Equity Pool, which provides exposure to publicly listed global private equity companies and private asset classes. Canada Life described it as the first segregated fund available in Canada for individual investors focused on publicly traded private equity companies.
