Canada LifeOct 6 2020

Canada Life adds 430 funds to drawdown platform

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Canada Life adds 430 funds to drawdown platform

Canada Life has expanded its drawdown platform by adding 430 funds, including a wider selection of sustainable and ESG-focused options.

The provider said the additions take the total number of funds available on its Retirement Account drawdown platform to more than 1,550.

According to Canada Life, the “major extension” will allow it to meet the needs of a broader range of advisers and their clients.

Funds from Columbia Threadneedle, M&G, Legal & General Investment Management and Seneca are now included on the platform.

These sit alongside funds from major distributors including Tavistock Acumen, Sanlam, Rathbones, Tatton Investment Management, Close Brothers Asset Management and Harwood Discovery.

Shelley Greenwood, head of investment proposition, wealth, at Canada Life UK, said the provider aimed to offer more than 2,000 funds on the platform by the end of the year and encouraged advisers to get in touch if there are particular funds they would like to feature.

Ms Greenwood said: “From simple, low cost insured passive investing and multi-asset approaches, to protected funds and direct access to collectives, we have most bases covered to help support advisers centralised investment propositions.

“With the heightened awareness and interest in sustainable investing, we’ve taken the opportunity to include some of the leading funds offering various ESG, impact and ethical approaches.”

Steve Hunter, head of business development at Seneca Investment Managers, said joining Canada Life’s platform would allow the firm to better engage with advisers.

He said: “As we extend our presence in the intermediary market, it is important that we ensure our funds are easily accessible to advisers and their clients. 

“We have aligned ourselves with highly-regarded providers and these relationships are further evidence of our growing position in the UK intermediary market.”

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