Empire Life Investments Inc. announced on Wednesday that it is launching a family of mutual funds.
The company, a subsidiary of The Empire Life Insurance Company, has been managing segregated funds for 45-years. The new mutual funds are being managed using the same conservative, value-oriented and disciplined style, under the leadership of chief investment officer Gaelen Morphet.
“This is a logical extension of our wealth management business,” said Drew Wallace, president and CEO of Empire Life Investments Inc.
The offering consists of five Canadian funds, including a Canadian equity fund, a dividend growth fund, a small cap equity fund, a monthly income fund, and a money market fund. The funds are distributed through independent financial advisors.
The company has also launched five Emblem Portfolios – diversified portfolios of assets designed to match a client’s investment goals and risk tolerance, ranging from conservative to aggressive growth.
“The mutual fund industry has become increasingly complex and difficult to navigate over the past decade,” said Wallace. “We believe our mutual funds will appeal to advisors and their clients who want uncomplicated, conservatively managed solutions.”
Investors in the mutual funds are automatically enrolled in the Empire for Life Loyalty Program, which is designed to help investors stay true to their long-term investment goals. Under the program, investors who hold an Empire fund for 10 consecutive years are eligible to receive a distribution equal to 5% of the annual management fee, starting in 2022.