The Standard Life Assurance Company of Canada said Monday that it is boosting its retail offer for the Ideal Segregated Funds Signature 2.0 by adding the Global Absolute Return Strategies (GARS) Fund in its Ideal 75/75 Series.
The insurer is also expanding its market reach by including the Payout Benefit Guarantee for nominee RIF contracts, and an F-Class option for fee-based advisors and their clients with all its series.
The GARS Fund is now available within the Ideal 75/75 Series, which guarantees that 75% of the invested capital is protected at maturity/payout and death. It aims to deliver positive absolute returns over the medium and long term in all market conditions, and to offer lower volatility than a traditional long-term global equity portfolio, with no performance fee.
Since it launched in 2006 in the UK, GARS has had a successful track record with more than C$47 billion under management. In Canada, Standard Life Investments and Standard Life Mutual Funds started making the GARS Fund available earlier this year to institutional and retail investors. With its addition in the retail segregated funds offering, the GARS Fund will now be available to a wider market.
Two other funds are also being added to the Ideal 75/100 and Ideal 100/100 Series. The Ideal Diversified Income Fund and the Ideal U.S. Monthly Income Fund aim to offer asset and geographical diversification while helping clients reach their savings and retirement objectives.
Standard Life says the Ideal Segregated Funds’ assets, including Signature 2.0, have increased by more than 25% from September 2012 to September 2013. Funds are managed by Standard Life Investments and third-party managers, and cover all major asset classes: fixed income, balanced funds, and Canadian and global equities.