Russell Investments Canada Limited announced today that Class B, I-5, I-6 and I-7 units of the LifePoints portfolios are now available for purchase under a deferred sales charge purchase option.

This is in addition to the existing no load, low load and front load purchase options.

A 10% free yearly redemption entitlement is available for units purchased under both the deferred sales charge and low load purchase options, according to a release. The new deferred sales charge options are offered in the LifePoints target allocation portfolios.

“This initiative is designed to give advisors and investors more choice and flexibility when choosing a purchase option. Advisors will have a full range of LifePoints purchase options to choose from to best fit their business strategy and client needs,” said David Bullock, managing director of Russell Investments’ distribution and marketing, in a release.

Russell says the competitive redemption fee schedule aims help advisors and their businesses by encouraging investors to concentrate on staying invested long-term without punishing them for deciding to exit early if the situation arises.