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Canada Life Assurance Co. has launched its new fund management subsidiary, Canada Life Investment Management Ltd. (CLIML), the Winnipeg-based firm said in a release on Friday.
CLIML will be responsible for investment management and primary portfolio manager functions for the Canada Life Mutual Funds and Canada Life Pathways Funds, the release said.
(Excepted are certain fund series that share a corporate class or trust series structure with Mackenzie Investments–branded funds. Management of these funds will be transferred to CLIML at a later date, the release said.)
Canada Life will control CLIML’s product shelf and pricing, and introduce investment strategies and solutions through the management company, using third-party fund managers worldwide.
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.
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