LONDON,
ON, April 26, 2024 /CNW/ - Canada Life
Investment Management Ltd. (CLIML) today announced changes to its
mutual fund lineup that include soft capping and fee reductions for
certain funds.
Soft capping
Effective July 17, 2024, certain
series of the following funds will be soft capped. This means those
series will be closed to new investors, but investors that held
securities of those funds prior to July 17,
2024 may continue to purchase, switch, and redeem securities
of the funds.
Fund
|
Series closed to new
investors
|
Canada Life Global Core
Plus Bond Fund
|
A, QF, W, F, QFW and
N
|
Canada Life
Unconstrained Fixed Income Fund
|
A, QF, W, F, QFW and
N
|
Canada Life Global
Multi-Sector Fixed Income Fund
|
A, QF, W, F, QFW and
N
|
Fee reductions
Effective July 17, 2024, CLIML
will reduce the management fee for certain series of Canada Life
Global Core Plus Bond Fund and Canada Life Unconstrained Fixed
Income Fund, as outlined below. The management fees for all other
series of those funds remain unchanged.
Fund
|
Series
|
Current
management
fee
|
New
management
fee
|
Canada Life Global Core
Plus Bond Fund
|
A
|
1.55 %
|
1.10 %
|
QF
|
1.05 %
|
0.60 %
|
W
|
1.35 %
|
1.05 %
|
F and QFW
|
0.85 %
|
0.55 %
|
Canada Life
Unconstrained Fixed Income Fund
|
A
|
1.40 %
|
1.10 %
|
W
|
1.20 %
|
0.95 %
|
Effective July 17, 2024, the
management fee reduction applicable to A and QF series of Canada
Life Global Core Plus Bond Fund will change from 0.20% to 0.10% for
eligible investments exceeding $100,000.
About Canada Life Investment
Management Ltd.
Canada Life Investment Management Ltd. (CLIML) is an
investment management firm offering wealth management products and
services for individuals, families and business owners. The funds
are sub-advised by leading asset managers, providing access to
specialized investment expertise from around the world. CLIML
is a subsidiary of The Canada Life Assurance Company. Learn
more.
These funds are managed by Canada Life Investment Management
Ltd. and offered exclusively through Quadrus Investment Services
Ltd. Commissions, trailing commissions, management fees and
expenses all may be associated with mutual fund investments. Please
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated.
SOURCE Canada Life Investment Management Ltd. (CLIML)