Canada Life  

Canada Life Investments expands fund of funds range

Canada Life Investments expands fund of funds range

Canada Life Investments is expanding its range of multi-asset funds with a managed fund seeking a combination of capital growth and income.

The LF Canlife Managed 20 - 60 per cent fund will launch later in March and will become the eighth managed multi-asset fund launched by the London investment arm of the Canadian insurance group.

The fund is to be managed by Craig Rippe, Canada Life Investments’ head of multi-asset.

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Mr Rippe said: "The 20 per cent - 60 per cent fund is a logical addition to our popular multi-asset range and neatly rounds off our menu for straight-forward risk profiled funds."

Canada Life Investments already offers a Managed 0 – 35 per cent fund and several balanced open ended investment companies.

Sitting in the Investment Association’s Mixed Investment 20-60 per cent share sector, the new fund will be invested in income-orientated equities, government bonds, short-duration corporate bonds and UK commercial property.

The fund will be invested in a range of other Canada Life funds, including the UK Equity Income fund, the Global Equity fund, the UK Property ACS, the Global Macro Bond fund, the Short Duration Corporate Bond fund and the company’s Corporate Bond fund.

The management team believes the assortment of assets within a single fund eases the administration responsibilities of advisers.

It added that outsourcing asset allocation had become "attractive" for advisers and clients because of geopolitical and macroeconomic uncertainties and the potential impact they may have on returns.

Andrew Morris, a product specialist at Canada Life Investments, said: "By investing in our own range of actively managed funds, we are able to tap the vast experience of our in-house fund management teams and their long term track records in fixed income, equity and UK property.

"Investing with them leaves the stock-picking decision makers with the real power to select the best global assets for delivering growth."

Adrian Lowcock, head of personal investing at Willis Owen, said: "It makes sense for Canada Life to add this to their multi-asset fund range as advisers do like to have a choice across the whole risk spectrum.

"In addition, the 20-60 per cent is likely to be a core offering for many investors. The use of in-house funds has allowed the group to offer a range of multi asset funds at a competitive price."