Continuing to bring best-in-class investment management to you

On Aug. 4, 2020, we reached an agreement to sell our Canadian asset management subsidiary, GLC Asset Management Group Ltd., to Mackenzie Financial Corporation. The sale was completed on Dec. 31, 2020 and has resulted in some changes you should know about.

What’s happening?

·         There are changes to the portfolio managers behind certain funds previously managed by GLC Asset Management.

·         Portfolio Solutions Group (PSG), which is staying with Canada Life as a division of Canada Life Investment Management Ltd. to manage our target date and target risk asset allocation funds, will now receive asset mix research from the Mackenzie Global Investment Committee (MGIC). Prior to the transaction, PSG received asset mix research and recommendations from the GLC Asset Mix Committee.

Another positive step for our wealth business

·         We believe these changes will further enhance our investment platform and the performance of our funds by leveraging the expertise and strength of Mackenzie Investments.

·         The incoming portfolio managers have an extensive track record of delivering strong results and we’re excited to have their multi-disciplinary expertise for these funds.

·         Through continuous improvements to our shelf, our goal is to deliver the best possible outcomes for you and your clients.

What does this mean for you?

·         There’s no action required from you or your clients.

·         These changes are effective as of Jan. 1, 2021.

·         We’ve updated your marketing and support materials, including fund sheets, with these changes.

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