CI Global Asset Management and the Empire Life Insurance Company have announced a new suite of solutions to help Canadian investors tap the benefits of active management along with estate-planning protections.
Through segregated fund contracts issued by Empire Life, the CI Empire Life Concentric GIFs offer access to underlying funds managed by CI GAM. The Concentric GIF mandates include 22 segregated fund options – 15 individual and seven all-in-one managed solutions – that cover a variety of management styles and geographic exposures, with asset allocations ranging from 100% equity to 100% fixed income.
“In the current environment of low interest rates and market uncertainty, investors need investment and estate planning strategies that allow them to achieve reasonable returns while managing risk,” said CI GAM Executive Vice President and Head of Distribution Roy Ratnavel. “We believe that Concentric GIFs will be attractive for their simplicity, flexibility, added layer of security, and growth potential.”
Through the segregated fund structure, Canadians can simplify their estate planning with the potential to preserve capital and bypass associated probate fees. The seg-fund contracts come with a maturity benefit equal to 75% of deposits, reduced proportionately by any withdrawals.
The contracts are set to mature on December 31 of the year in which the annuitant turns 100. Should the contract owner pass on before the maturity date, the beneficiary receives a death benefit of either 75% or 100% of all deposits (reduced proportionately based on any withdrawals), depending on the death benefit guarantee selected.
“We’re pleased to work with CI GAM to offer Canadian investors more options to achieve their financial goals and plan their legacy,” said Steve Pong, senior vice president, Retail, Empire Life. “CI GAM shares our belief that the role of an advisor is fundamental to helping clients achieve financial security. Concentric GIFs represent a compelling investment option for advisors and their clients.”