(July 21 – 11:00 ET) – AIG Life Insurance Company of Canada and Trimark Investment Management Inc. announced today that Trimark segregated funds will be closed to new investors after July 31, 2000.
However, clients who currently invest in any of Trimark’s line of 23 seg funds will be able to continue to hold their funds and add to their investments.
“Investors who purchased Trimark Seg Funds prior to July 31, 2000 under existing contracts will be able to maintain their seg funds holdings and continue to receive high-quality service”, says Oliver Murray, executive vice-president at Trimark Financial Corp. “As well, new money can continue to be contributed to existing contracts”.
Segregated funds are insurance products that can only be issued by an insurance company. Trimark’s seg funds have been issued in a co-operative relationship with AIG Life of Canada.
-IE Staff