Money in hands with leaf growing

Canada Life Investment Management Ltd. (CLIML) launched a series of sustainable mutual fund portfolios on Monday.

The Canada Life Sustainable Portfolios from the subsidiary of Winnipeg-based Canada Life Assurance Co. seek to invest in companies that demonstrate strong environmental, social and governance (ESG) practices, a release said. The fund-of-fund portfolios are actively managed.

The Canada Life Sustainable Conservative Portfolio aims to generate a moderate level of income with the potential for some long-term capital growth for Canadian investors. 

The Canada Life Sustainable Balanced Portfolio aims to generate a balance of income and long-term capital growth, and the Canada Life Sustainable Growth Portfolio is designed for Canadians seeking to generate long-term capital growth. 

All three funds will be sub-advised by J.P. Morgan Asset Management.

Canada Life Assurance Co. will introduce segregated fund versions of these portfolios at a later date, the release said.