Retirement Advantage has added seven Canada Life Investment funds to its hybrid drawdown product, The Retirement Account. Five of the active funds are risk targeted while two are risk managed, with fund charges (OCF) ranging from 0.31% to 0.61%. The move is the most visible sign to date of the growing integration of the two companies, and follows on from Canada Life’s purchase of Retirement Advantage in January.
Andrew Tully, pensions technical director, Retirement Advantage commented:
‘Advisers and their clients are looking for drawdown solutions which not only provide great value for money but also deliver good performance with a proven track record. Our expanded fund range does just that, aiming to limit the downside risk and reduce volatility. All within an innovative drawdown product that has strong fund governance, and includes the option to choose a guaranteed income.
‘The drawdown fund range has been designed to meet investment objectives while helping to protect clients from the risks associated with generating an income during the retirement journey.
‘The addition of seven Canada Life funds signals the intent for further development of our drawdown proposition, as we are committed to developing The Retirement Account into a market leading pension drawdown solution.’
The addition of these Canada Life funds are a significant enhancement to the range of funds which includes active, passive and protected options which are unique to the Retirement Account.
Further details on the complete Retirement Account fund range