Winnipeg-based Great-West Life Assurance Co. added 12 new funds to its group retirement plan selection on Thursday.
Four of the new funds are unique to the group retirement industry, according to Great-West Life, in that they are multi-manager asset class funds providing group plan members with more diversification within a fund.
The four funds include:
- Harmonized Fixed Income Fund
- Harmonized Canadian Equity Fund
- Harmonized Foreign Equity Fund
- Harmonized Special Equity Fund
The funds are meant to simplify investment options for employees who might feel overwhelmed in having to select several different funds, states Great-West Life, and also to streamline investment choices for employers offering defined contribution plans.
Great-West Life also launched eight new fixed-income and equity funds for group plan members who want more control over investment decisions in their plans.
The new income funds are as follows:
- Canadian Short Term Bond Fund
- Corporate Bond Fund
- Real Return Bond Fund
- North American High Yield Bond Fund
The four new equity funds include:
- Global Equity Fund
- International Equity Fund
- Global Infrastructure Equity Fund
- U.S. Registered Index Fund
Great-West Life is a unit of Great-West Lifeco Inc. (TSX:GWO).