(October 23 – 13:50 ET) – Clarica says that starting early December it will offer its customers a greater range of investment choices through the addition of new wealth accumulation products. Some of the new products will be available for online purchases.
Barry Triller, executive vice president, Canadian Customers, said the insurance company’s decision to broaden the range of available products and services is part of the enhancement and development of its retail wealth accumulation business. “It adds to our e-business capabilities and builds on our continuing efforts to anticipate customers’ investment and savings needs. Moreover, it reflects our commitment to investors to increase wealth accumulation assets under management at a rate faster than the industry average.”
The new products include seven new index funds available for purchase online as well as through Clarica’s career sales force. The company says the new funds offered increased foreign content and enriched asset allocation capabilities. Clarica will also add two new specialty funds to its asset allocation portfolio.
The seven new Clarica index funds and the two new specialty investment funds will be offered as mutual funds and distributed through Clarica’s wholly owned subsidiary, Clarica Investco Inc. The new specialty investment funds will be offered as segregated funds through Clarica. Issuance of the index, third party and new investment funds are all subject to regulatory approval.
The company will make available an extensive group of popular third party mutual funds will be available in January through Clarica agents in time for the 2001 season.
Clarica will also be adding GIC’s to its product mix, including a new product featuring a base rate guarantee with upside potential related to the performance of interest rates.
“We believe that asset allocation continues to be the fundamental approach to long-term success in building wealth accumulation. We have created tools and Clarica branded funds that maintain the integrity of asset allocation. However, we recognize that some investors already have, or want other mutual funds, as part of their investment strategy.”
-IE Staff