National Life is introducing managed accounts for its universal life products. The new offering features brand name mutual funds actively managed by leading Canadian and international investment managers.

Managed accounts mirror the performance of underlying externally managed mutual funds.

National Life says it selected the underlying funds based on their consistent performance plus the proven track record, experience and reputation of their managers. The fund managers include AGF, Bissett Investment, CI Funds, Dynamic Mutual Funds, Fidelity Investments Canada, Franklin Templeton Investments, Legg Mason and Talvest Mutual Funds.

“Advisors can confidently recommend managed accounts to their clients, as these dynamic investment options cover multiple asset classes, investment styles, geographic regions and industry sectors,” says Martin Devine, associate director, individual administration.

National Life is currently offering 13 managed accounts within four categories, including: Canadian accounts; global and international accounts; sector accounts; and U.S. accounts.

The insurer says managed accounts can be used by policyholders to invest all premiums above the cost of insurance of their National Life universal life policy, or in combination with National Life Market Index Accounts and Hedge Accounts to build a well diversified portfolio.

The MERs of the accounts are equal to the MERs of the underlying mutual funds, and there is no additional charge for the benefits of tax deferred investment growth that National Life universal life policies provide.

“Managed accounts offer clients all the benefits of investing with top fund managers but with additional tax deferred advantages because they’re available through a National Life universal life policy,” says Devine. “Managed Accounts provide the best of both worlds: investment expertise and lifetime insurance protection.”