Transamerica Life Canada has launched 14 new segregated funds. The company has partnered with several mutual fund managers from AGF Funds Inc., AIC Ltd., AIM Funds Management Inc., C.I. Mutual Funds Inc., Fidelity Investments Canada Ltd., Mackenzie Financial Corp., and TD Mutual Funds in the new offering.

There are 10 individual funds and four fund-on-funds. The 10 individual funds are all brand name mutual funds. The criteria for selection was based on consistent strong performers, fund managers, strong stales, and good brand names, says Lauren Bradley, vice president marketing, Investment Products for Transamerica Life.

According to Bradley, a unique aspect to the entire product is in the approach. Besides providing a product that will diversify, investors also have the opportunity to take advantage of different investment management styles.

“We can provide the consumer with a choice so they end up neutralizing any economic or market ups and downs by holding some value, some growth, some blend, and some passive,” she says.

The four fund-on funds, termed the Transamerica Optimized Portfolios (TOP), are 100% equity-oriented. They will focus on a particular equity market with underlying investments diversified by fund manager, investment management style and market capitalization, says Bradley. The funds are the TOP Canadian Managers Portfolio, the TOP U.S. Managers Portfolio, the TOP Global Managers Portfolio, and the TOP Global Sectors Portfolio.

“These are the crème de la crème of mutual funds out there in the Canadian market place. We did a lot of due diligence and all of these funds are on the IDA recommended buy lists,” she says.

Adding that there’s a very low incidence of any negative return in any year citing the Mackenzie Ivy Growth and Income Fund as an example. The fund has never had a negative one-year calendar return, making it a great planner’s fund because clients won’t call all the time concerned for the fluctuations of the fund.

With a 3.75% up front sales commission, the funds are available in three insurance options. The Basic Protection offers a 75% death and maturity guarantee; the Estate Protection has a 75% maturity guarantee and a 100% death guarantee; the Full Protection has a 100% guarantee for both death and maturity.

Transamerica retained William M. Mercer Ltd. as independent investment consultants for each of the new funds.