CI Global Asset Management and Empire Life Introduce CI Empire Life Concentric GIF, a New Suite of Segregated Funds

CI Global Asset Management (“CI GAM”) and The Empire Life Insurance Company (“Empire Life”) today announced the launch of CI Empire Life Concentric GIF (“Concentric GIFs”). Concentric GIF segregated fund contracts are issued by The Empire Life Insurance Company and combine the diversification, risk management, and growth potential of actively managed mutual funds with the security of insurance benefit guarantees.

“In the current environment of low interest rates and market uncertainty, investors need investment and estate planning strategies that allow them to achieve reasonable returns while managing risk,” said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM. “We believe that Concentric GIFs will be attractive for their simplicity, flexibility, added layer of security, and growth potential.”

“We’re pleased to work with CI GAM to offer Canadian investors more options to achieve their financial goals and plan their legacy,” says Steve Pong, Senior Vice President, Retail, Empire Life. “CI GAM shares our belief that the role of an advisor is fundamental to helping clients achieve financial security. Concentric GIFs represent a compelling investment option for advisors and their clients.”

The segregated funds available under the Concentric GIF contracts invest in underlying funds that are managed by CI GAM. The extensive choice of Concentric GIF mandates reflects CI GAM’s broad investment capabilities, with 22 segregated fund options – 15 individual and seven all-in-one managed solutions – allowing investors to access a range of management styles and geographic diversification across their preferred asset allocation, ranging from 100% equity to 100% fixed income.

The segregated fund structure simplifies estate planning with the potential to preserve capital and bypass any associated probate fees. The segregated fund contracts provide maturity and death benefit guarantees. The maturity benefit is equal to 75% of deposits (reduced proportionately by any withdrawals) with the maturity date occurring on December 31 of the year that the annuitant turns 100 years old. If the contract owner dies before the maturity date, a death benefit of either 75 or 100% of all deposits (reduced proportionately by any withdrawals) is paid to the beneficiary depending on the death benefit guarantee selected. All Concentric GIFs are eligible for non-registered accounts and registered plans, including tax-free savings accounts.