Canada Life International (CLI) will expand its internal fund range, launching five new funds from Fortis Investments.
The Isle of Man based company is the first offshore provider to have a formal link in place with a suite of capital protected funds from Fortis, each with a different maturity date.
The first of the funds to mature will be the CLI Fortis Protected Lifestyle 2015 fund, while the remaining four funds will reach maturity in 2020, 2025, 2030 and 2035.
The funds will be available through CLI’s Delta Account, a single premium plan and the Flexible Life Plan, a whole of life contract, as well as the Offshore Savings Account, a regular premium plan.
Canada Life says the funds have been introduced to satisfy investors’ demands for capital security.
Mario Ricciardi, executive director at CLI says: “At a time when world markets are facing a level of uncertainty, funds of this type provide our clients with peace of mind whilst still giving some equity exposure.”
David Morrow, director of UK insurance at Fortis Investments, says the Capital Protected Lifecycle funds combine return potential, security and flexibility.
“Since the funds incorporate a “lifecycle” feature, they automatically rebalance from equity to fixed income as each maturity date approaches.”
“The funds have been a success in North America, continental Europe and Hong Kong, because investors everywhere have found they provide convenience and peace of mind, which is especially hard to come by at the moment given the volatility in the markets."
CLI is part of the Great West Lifeco group of companies and has £4.9bn assets under administration at 31 December 2007.
Fortis Investments is formally ABN AMRO Asset Management.IFAonline
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