Kingston, Ont.-based Empire Life Insurance Co. launching new global funds, a preferred pricing program and a fee for service option, the company announced on Monday.
Four new funds are being added to the Empire Life Emblem GIF Portfolio lineup: Emblem Global Conservative Portfolio GIF, Emblem Global Balanced Portfolio GIF, Emblem Global Moderate Growth Portfolio GIF and Emblem Global Aggressive Growth Portfolio GIF.
The new global portfolios are diversified across multiple asset classes and designed to take advantage of global markets and provide a higher potential return and lower volatility.
Empire Life is also adding three standalone funds to its Empire Life Guaranteed Investment Funds product line of segregated funds.
The first is Empire Life Global Asset Allocation GIF, which provides access to a globally diversified portfolio of fixed income and equity investments. The fund is managed for changing market conditions.
Another new product is Empire Life Global Smaller Companies GIF, which is reopened to GIF clients. The fund invests in small to mid-cap companies in North America, Europe and Asia.
Lastly, the firm is introducing Empire Life Strategic Corporate Bond GIF, which is a diversified, fixed income portfolio that can help provide protection for rising interest rates and enhance long-term returns through exposure to corporate fixed income investments, including investment grade corporate bonds, high yield bonds, floating rate loans, convertible bonds and preferred shares.
“These new global offerings provide clients with more fund options which invest in opportunities outside of Canada, diversify their investments and potentially increase their returns,” says Ian Hardacre, chief investment officer, in a statement.
“The funds leverage the existing expertise of our investment team which currently manages approximately 30% of our retail segregated fund assets globally, with a focus on downside protection.”
Empire Life is also introducing preferred pricing for clients with $500,000 in household assets invested in eligible Empire Life GIF products. The program reduces the fund’s cost by reinvesting the management fee credit. All clients are automatically eligible and family members in the same household can combine GIF assets to qualify for the program.
The new fee for service purchase option gives competitive fees for fee-based advisors using nominee accounts for their clients with access to all Empire Life guaranteed investment funds.
“We know that clients want choice and lower fees,” says Mike Stocks, vice president and chief marketing officer of retail.
“These enhancements build on the success of our popular GIF segregated fund offering by now offering an array of investment product choices to help meet the needs of clients looking to invest either domestically or globally,” he adds. “In addition, GIF clients will also now have more ways to reduce costs through our preferred pricing program allowing their investments to grow even faster.”