Canada Life Investment Management Ltd. announces results of special meetings on fund mergers and changes to the Canada Life Short-Term Bond Fund
London, ON, January 19, 2023. . . Canada Life Investment Management Ltd. (CLIML) today announced the results of special meetings held on January 18, 2023, where investor approval was sought for certain fund mergers as outlined in the table below. These mergers will make it easier for advisors and investors to navigate the Canada Life mutual fund product shelf.
In addition, effective January 19, 2023, CLIML is also announcing changes to the investment strategies and the re-opening of the Canada Life Short-Term Bond Fund to new investments.
Fund Mergers
The following fund mergers were approved by investors and are expected to take effect on or about February 3, 2023.
| Terminating Fund | Continuing Fund |
|---|---|
| Canada Life Canadian Low Volatility Fund | Canada Life Canadian Core Dividend Fund |
| Canada Life U.S. Low Volatility Fund | Canada Life U.S. Value Fund |
Investment strategy changes and the reopening of the Canada Life Short-Term Bond Fund
CLIML is committed to ensuring its product shelf remains relevant and competitive through changing market conditions. Access to a variety of fixed income solutions is important to navigate today’s rapidly shifting interest rate environment. That’s why CLIML has reopened to new investments and amended the investment strategies of Canada Life Short-Term Bond Fund (mutual fund) effective January 19, 2023. 1 The changes to this fund’s investment strategies are intended to help the fund attain stronger diversification while providing a level of income consistent with short-term fixed income investments with an emphasis on capital preservation.
The Canada Life Short-Term Bond Fund can be an effective portfolio building block to help mitigate interest rate risk in a rising rate environment. This fixed income solution invests primarily in a diversified portfolio of high-quality Canadian short-term (less than five years) debt securities.
1 The segregated fund version of this mandate was not closed to new investments and remains available for sale.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
About Canada Life Investment Management Ltd. (CLIML)
CLIML is the investment fund management subsidiary of The Canada Life Assurance 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 175 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we’ve made.
On January 1, 2020, Great-West Life, London Life and Canada Life became one company – Canada Life, and today, we proudly serve approximately 12 million customer relationships from coast to coast to coast.
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For more information contact:
Liz Kulyk
Assistant Vice-President, Media & Public Affairs
The Canada Life Assurance Company
204-391-8515
Media.Relations@canadalife.com
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