Mackenzie Financial Corp., together with M.R.S. Inc. and The Great-West Life Assurance Co, today announced the launch of five Keystone Portfolio segregated funds now available for sale through independent insurance-licensed advisors.
Mackenzie says the funds combine the diversification and multi-managed features of Keystone Funds with the protection of an insurance policy.
“Keystone Portfolio Segregated Funds combine the advantages of the broadly diversified investment platform of the Keystone Portfolio Funds with the strength of Great-West Life,” said David Feather, president, Mackenzie Financial Services Inc., in a release. “Our new segregated funds meet the needs of an emerging segment of investors seeking more innovative and prudent ways to protect capital while participating in the growth potential of equity and fixed income markets.”
The underlying Keystone Portfolio Funds that make up the new segregated versions are each packaged as fund-of-funds comprised of as many as 16 funds managed by seven Canadian money managers including Mackenzie, AGF Funds Inc., AIM Funds Management Inc., Beutel Goodman, Franklin Templeton Investments, Howson Tattersall and MFC Global.
Five funds make up the new segregated fund offering:
- Keystone Conservative Portfolio Segregated Fund;
The seg funds come with a choice of two protection options: a low-cost ‘basic guarantee’ option offering a 75% death benefit guarantee and a 75% maturity guarantee, or an ‘enhanced guarantee’ rider offering a 100% guarantee of principal every 10 years along with a 100% death benefit guarantee after five years. The choice depends on an investor’s tolerance for risk and their personal requirements for protection.