The Empire Life Insurance Company (Empire Life) is introducing seven new global funds, a fee for service option and a preferred pricing program to provide clients with more global and lower cost investment options within their Guaranteed Investment Fund (GIF) product line of segregated funds.
Four new global portfolio options are being added to the Empire Life Emblem GIF Portfolio line up: Emblem Global Conservative Portfolio GIF; Emblem Global Balanced Portfolio GIF; Emblem Global Moderate Growth Portfolio GIF; and Emblem Global Aggressive Growth Portfolio GIF.
The new global portfolios are diversified across multiple asset classes and are designed to take advantage of global markets and provide a higher potential return and lower volatility. All Emblem GIF Portfolios are managed by the Empire Life Investments Inc. Emblem Oversight Team which is led by Chief Investment Officer Ian Hardacre (pictured).
Empire Life is also adding three standalone funds to its Empire Life Guaranteed Investment Funds product line of segregated funds.
The Empire Life Global Asset Allocation GIF provides access to a globally diversified portfolio of fixed income and equity investments and is tactically managed for changing market conditions. Amber Sinha, Senior Portfolio Manager, Global Equities is the manager of this fund.
The Empire Life Global Smaller Companies GIF is reopened to GIF clients. This fund invests in small to mid-cap companies in North America, Europe and Asia. Sinha continues to manage this fund.
The Empire Life Strategic Corporate Bond GIF is a diversified, fixed income portfolio that can help provide protection from rising interest rates and enhanced long-term returns through exposure to corporate fixed income investments, including investment grade corporate bonds, high yield bonds, floating rate loans, convertible bonds, and preferred shares. Albert Ngo, Portfolio Manager, Fixed Income is the manager of this fund.
“These new global offerings provide clients with more fund options which invest in opportunities outside of Canada, diversify their investments and potentially increase their returns,” says CIO Ian Hardacre. “The funds leverage the existing expertise of our investment team which currently manages approximately 30 per cent of our retail segregated fund assets globally, with a focus on downside protection.”
The company is also introducing Preferred Pricing for clients with CAD500,000 in household assets invested in eligible Empire Life GIF products. The program effectively lowers the fund's cost by reinvesting the management fee credit. All clients are automatically eligible and family members in the same household can combine GIF assets to qualify for the program.
The company’s new Fee For Service purchase option provides competitive fees for fee-based advisors using nominee accounts for their clients, with access to all Empire Life Guaranteed Investment Funds.
“We know that clients want choice and lower fees. These enhancements build on the success of our popular GIF segregated fund offering by now offering an array of investment product choices to help meet the needs of clients looking to invest either domestically or globally,” says Mike Stocks, Vice-President and Chief Marketing Officer, Retail. “In addition, GIF clients will also now have more ways to reduce costs through our Preferred Pricing Program allowing their investments to grow even faster.”
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