New fund management subsidiary will resume fund management responsibilities for Canada Life Mutual Funds and Canada Life Pathways Funds
WINNIPEG, MB, Jan. 8, 2021 /CNW/ – 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 2020, 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.
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.
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.
SOURCE Canada Life
For further information: Liz Kulyk, AVP, Media Relations & Public Affairs, Canada Life, 204-391-8515, [email protected]
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
