New fund management subsidiary will resume fund management responsibilities for Canada Life Mutual Funds and Canada Life Pathways Funds
Winnipeg, MB, January 8, 2021. . . Canada Life today announced the launch of its new fund management subsidiary, Canada Life Investment Management Limited (CLIML). CLIML will be responsible for investment management and primary portfolio manager functions for the Canada Life Mutual Funds and Canada Life Pathways Funds, except for certain fund series which share a corporate class or trust series structure with Mackenzie Investments (Mackenzie)-branded funds and for which management will be transferred to CLIML at a later date.
CLIML will allow Canada Life to directly control its product shelf and its pricing. Through CLIML, Canada Life will introduce new and improved investment strategies and solutions, leveraging the capabilities of hand-picked third-party fund managers from around the globe.
“With our own fund management company, we’ll focus on building strong partnerships with leading investment managers from around the world, while designing and delivering quality investment products and portfolio solutions, tailored to the changing needs of our customers and advisors,” said Steve Fiorelli, Senior Vice-President, Wealth Solutions, Individual Customer, Canada Life and Chief Executive Officer, CLIML. “We’re excited for this new path forward, and as we continue to strengthen and evolve our wealth business, we’re confident that CLIML will make it easier for our customers and advisors to succeed with us.”
In August 2020Opens a new website in a new window - Opens in a new window, Great-West Lifeco Inc. announced the sale of GLC Asset Management Group Ltd. to Mackenzie. As part of this transaction, Canada Life announced it intended to create its own investment fund management company, CLIML. The sale was completed on December 31, 2020, and CLIML began operations on January 1, 2021. In addition, the custodian of the Canada Life Mutual Funds and Canada Life Pathways Funds was changed from Canadian Imperial Bank of Commerce to CIBC Mellon Trust Company.
For more information, visit CanadaLifeInvest.ca.
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.
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the relevant prospectus before investing. Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.
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