Russell Investments Canada Ltd. has introduced two new LifePoints distribution class portfolios in response to clients’ growing need for cash flow options, the company says.

The LifePoints Balanced Income Portfolio features a 65% allocation to fixed income and a 35% allocation to equities and currently has a 5% target distribution. The LifePoints Balanced Growth Portfolio features a 40% allocation to fixed income and a 60% allocation to equities and currently has a 7% target distribution.

The exposure of both the Balanced Income Portfolio and Balanced Growth Portfolio will be approximately one-third Canadian equities, and two-thirds foreign equities.

“These new LifePoints distribution class portfolios are designed for investors who want to invest for the intermediate to long term and want to receive income from their portfolio,” says Sadiq Adatia CFA, FSA, FCIA, who manages Russell’s LifePoints Portfolios. “Through these new distribution options, Russell offers a well-rounded line-up of portfolios that provide investors with consistent distributions.”

LifePoints is also available in three Target Date Portfolios: LifePoints 2010 Portfolio, LifePoints 2020 Portfolio, and LifePoints 2030 Portfolio, with future Target Date funds expected to follow.