(February 1 – 14:30 ET) – The Imperial Life Assurance Co. of Canada and Desjardins-Laurentian Life Assurance have unveiled the Capped Canadian Index Fund for their group retirement savings clients.

The first such fund to be introduced in Canada, the new fund tracks the S&P/TSE Capped 60 Index, which restricts the maximum weighting of any one stock of the 60 Canadian companies comprising the undex to 10%. The fund offers investors an innovative way to protect themselves from the roller coaster effect of any one stock on the performance of the Index.

By limiting the risk associated with a particular stock, the characteristics of the “Capped Canadian Index Fund” are substantially different from those of traditional index funds.

Managed by Elantis, the new fund brings to 20 the number of pooled investment funds available to employees or association members belonging to a group retirement savings plan offered by the Imperial Life Assurance Company and Desjardins-Laurentian Life Assurance. Four other fund managers also manage the funds: AIM Funds Management Inc, Bissett Investment Management, McLean Budden and Scudder.
-IE Staff