Canada Life Mutual Funds are managed by Mackenzie Investments and will be exclusively available through Quadrus Investment Services Ltd., a subsidiary of Canada Life.
The new shelf will be more closely aligned to Canada Life’s segregated fund shelf, creating more cohesion between the two shelves.
“Increasing the overlap between the mutual fund and segregated fund shelves means that customers and advisors can determine which products are most appropriate for their portfolios, providing greater flexibility and choice to build an investment solution that meets the customer’s unique financial needs and goals,” said Paul Orlander, Executive Vice-President, Individual Customer, Canada Life. “The new mutual funds and newly branded mutual fund shelf are important steps in elevating and streamlining our wealth offering to be relevant and competitive for our customers and advisors.”
“Aligning the segregated and mutual fund shelves provides clarity of our wealth product offering and allows for consistencies and efficiencies, making it easier for advisors to do business with us,” said Hugh Moncrieff, Executive Vice-President, Advisory Network and Industry Affairs, Canada Life.
Earlier this month, Great-West Lifeco Inc. announced the proposed sale of GLC Asset Management Group Ltd. to Mackenzie Investments. As part of this transaction, Canada Life intends to create its own investment fund management company, Canada Life Investment Management Ltd. (CLIML), and, subject to first obtaining all necessary registrations and other regulatory approvals, is expected to commence operations in the fourth quarter of 2020. Subject to meeting applicable regulatory and fund securityholder approvals, CLIML will assume fund management and trustee responsibilities for the Quadrus Group of Funds and other
Canada Life branded investment funds in 2021. Mackenzie Investments will continue to provide administrative services and be a core investment advisor to these funds.
For more information about Canada Life Mutual Funds, visit canadalife.com/investing-saving.
About The Canada Life Assurance Company
Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For more than 170 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we’ve made.
As of January 1, 2020, Great-West Life, London Life and Canada Life became one company – Canada Life, and today, we proudly serve more than 13 million customer relationships from coast to coast to coast.
About Mackenzie Investments
Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services. With $145.2 billion in assets under management as of July 31, 2020, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with $170.7 billion in total assets under management as of July 31, 2020. For more information, visit mackenzieinvestments.com.
About Quadrus Investment Services Ltd.
Quadrus Investment Services Ltd. ("Quadrus") is one of the largest mutual fund dealers in Canada. Quadrus is a member of the Great-West Lifeco Inc. group of companies, which includes The Canada Life Assurance Company. Quadrus Group of Funds is distributed exclusively through Quadrus Investment Services Ltd.
About Quadrus Group of Funds
Quadrus Group of Funds is managed by Mackenzie Investments and distributed exclusively through Quadrus Investment Services Ltd. Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies.
For more information, contact: