New subadvisor at Transamerica

Toronto-based Transamerica Life Canada has selected CI Investments Inc. of Toronto as the new subadvisor for its TOP Guaranteed Investment Portfolios (GIPs), which were previously managed by an in-house team. The GIPs are available within certain segregated fund contracts and for the imaxx TOP Managed Index Interest Options available within certain universal life contracts. As a result of this change, some of the GIPs available in Transamerica seg fund contracts will be renamed the Transamerica CI GIPs. However, their investment objectives, investment fund category and management fees will not change. The selected GIPs will be renamed as follows: TOP Conservative GIP will be renamed Transamerica CI Conservative GIP; TOP Canadian Balanced GIP will be renamed Transamerica CI Canadian Balanced GIP; TOP Balanced GIP will be renamed Transamerica CI Balanced GIP; TOP Growth GIP will be renamed Transamerica CI Growth GIP; and TOP Aggressive Growth GIP will be renamed Transamerica CI Maximum Growth GIP. As well, on Dec. 7, each designated index for the imaxx TOP Managed Index Interest Options available within certain universal life contracts will be replaced by the respective Transamerica CI Guaranteed Investment Portfolio available within the Transamerica GIF seg fund contract. There will be no changes to any contractual features or policyholder benefits as a result of these index substitutions. In addition to these changes, TOP Canadian Managers GIP, TOP U.S. Managers GIP, TOP Global Managers GIP, TOP Global Sectors GIP and TOP Income GIPs, available within certain seg fund contracts, will be terminated and their assets will be reallocated to a continuing Transamerica CI GIP on Nov. 2.

(cohara@investmentexecutive.com).