NU Online News Service, Dec. 21, 9:55 a.m. – The London Life Insurance Company, London, Ontario, has introduced 11 new segregated funds under its Freedom Funds brand, bringing the total number of funds in its portfolio to 56.
London Life hopes to sell the funds to small business owners and affluent investors.
The funds include the Canadian Growth Sectors Fund, managed by London Life Investment Management Ltd.; the Ethics Fund. managed by GWL Investment Management Ltd.; and several funds managed by Mackenzie Financial Corporation, Toronto.
“While many insurance companies are retreating from the segregated fund market because of increased capital reserve requirements, London Life sees opportunities,” says Rick Rausch, a London Life vice president.
Rausch says Canadian investors still need education about the capital guarantees and other advantages that segregated funds can offer.