Canada Life is looking to spin out its investment arm as a separate entity, following the example of...
Canada Life is looking to spin out its investment arm as a separate entity, following the example of Scottish Equitable and Standard Life.
Ian Gilmour, general manager at Canada Life, said during 2000 Canada Life will separate the fund management arm from the diversified international life assurance company, which has £7bn in funds under management in the UK. He said the establishment of Canada Life Asset Management, would enable the life assurance and fund management arms to operate separately, providing a more specialised and concentrated service to clients.
Gilmour said: "We see strong growth in wealth management in the UK during 2000 and Canada Life plans to expand in response to this expected growth in demand."
The asset management arm of Canada Life offers 13 funds through its Oeic, ranging from UK equities to North American, Japan, the Far East and the Europe portfolio. There are also links offered to Mercury Asset Management's fund range through Canada Life.
The offshore arm of Canada Life offers a full fund range, which is also available through an insurance product wrapper.
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