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Passives portfolio funds

Five new portfolio funds launched in passives push

Canada Life is today expanding its successful multi-asset range by launching five new, low cost life and pension funds, complementing its comprehensive active range with its first large-scale push into passive funds.


The Canlife Passive Portfolio funds of funds are being launched with low Ongoing Charges Figures [OCF] of between 0.20% and 0.24%. Alongside these funds the company is also launching 11 new links to single strategy passive iShares funds with OCFs of between 0.06% and 0.22%.


The five Canlife Passive Portfolios are made up of the 11 iShares funds plus Canada Life’s own money and property funds, and will remain within a specific risk band by following Dynamic Planner’s asset allocation within risk profiles three through to seven. Utilising Dynamic Planner’s risk profiling can help advisers, simply and easily, determine and communicate the suitability of an investment to their clients on an ongoing basis. 


The new portfolio funds implement their asset allocation primarily though the passive iShares tracker funds, managed by BlackRock Investment Management, covering UK and international equities and bonds.


The five Passive Portfolio funds have been classified as risk target managed solutions by Dynamic Planner giving comfort to advisers that the funds are well-diversified and that expected volatility and strategic asset allocations will stay within the boundaries assigned to each Dynamic Planner risk profile. Together this enables the funds to help meet the challenge of ensuring ongoing suitability.


The new funds are available through Canada Life’s Pension Investment Plan, Flexible Drawdown Plan and Select Account.


Richard Priestley, Executive Director at Canada Life, said:
“The new Passive Portfolios are competitively priced and risk target managed, both of which are increasingly in-demand by advisers. They are also based on Canada Life’s successful multi-asset investment funds operating with the same range of Dynamic Planner risk profiles, so we’re confident that they can serve the needs of the market.


“The new funds enable Canada Life to offer more solutions that answer a wider range of adviser and customer needs. These portfolios are an attractive proposition which, for bond investors, offer simple, cost effective opportunities for diversification which are easily understood by the average investor. A growing number of individuals are also choosing drawdown for their retirement income rather than conventional annuities, and many want a low cost exposure to investment markets.


“We see this development as an important part of our strategy to meet the changing demands of our customers as they approach and enter retirement.”


Claire Finn, Managing Director at BlackRock, says: “Over the past decade we have seen significant growth in index investing as advisers and individuals seek cost-effective investments that offer both choice and diversification. Through our iShares index funds, Canada Life’s new product range will offer client’s access to individual funds as well as a comprehensive set of risk managed portfolios.”


The new model portfolios are:

  1. Canlife Passive Portfolio 3 (Life Series 5; Pension Series 5), OCF 0.20%
  2. Canlife Passive Portfolio 4 (Life Series 5; Pension Series 5), OCF 0.21%
  3. Canlife Passive Portfolio 5 (Life Series 5; Pension Series 5), OCF 0.22%
  4. Canlife Passive Portfolio 6 (Life Series 5; Pension Series 5), OCF 0.22%
  5. Canlife Passive Portfolio 7 (Life Series 5; Pension Series 5), OCF 0.24%


The new passive iShares funds are:

  1. Canlife iShares UK Equity Index (Life Series 5; Pension Series 5), OCF 0.06%
  2. Canlife iShares Continental European Equity Index (Life Series 5; Pension Series 5), OCF 0.10%
  3. Canlife iShares North American Equity Index (Life Series 5; Pension Series 5), OCF 0.07%
  4. Canlife iShares Japan Equity Index (Life Series 5; Pension Series 5), OCF 0.11%
  5. Canlife iShares Pacific ex Japan Equity Index (Life Series 5; Pension Series 5), OCF 0.13%
  6. Canlife iShares Emerging Markets Equity Index (Life Series 5; Pension Series 5), OCF 0.22%
  7. Canlife iShares UK Gilts All Stocks Index (Life Series 5; Pension Series 5), OCF 0.11%
  8. Canlife iShares Index Linked Gilt Index (Life Series 5; Pension Series 5), OCF 0.11%
  9. Canlife iShares Overseas Government Bond Index (Life Series 5; Pension Series 5), OCF 0.12%
  10. Canlife iShares Corporate Bond Index (Life Series 5; Pension Series 5), OCF 0.11%
  11. Canlife iShares Overseas Corporate Bond Index (Life Series 5; Pension Series 5), OCF 0.12%


There are circumstances which could reduce the value of your investments. This could mean that the amount you receive is reduced. Tax legislation may change in the future, therefore, your own taxation position may alter. The value of your investment can go down as well as up and you may not get back the full amount invested. How any of the funds have performed in the past is not a guide for how the funds you have invested in will perform in the future. Some funds have higher levels of risk than others do and currency fluctuations can also affect how funds perform.


View the details of the fund choices.




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Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.