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Shareholder Rights Directive

Canada Life Limited (CLL) operates a number of life and pension (L&P) funds which invest directly in units of regulated Collective Investment Schemes (CIS) managed by a number of different asset managers. These are often referred to as ‘mirror funds’.

The CLL L&P funds are unit-linked investments, rather than investments used to back liabilities.

The majority of CLL’s L&P assets under management are invested in funds managed by Canada Life Asset Management Limited (CLAM). CLAM forms part of the Canada Life group of companies and is a sister company of CLL. A link is provided to the CLAM Engagement Policy which describes how CLAM conducts its engagement and interaction with the management of the companies that it invests in.

Read the Engagement Policy 2019 here

If the fund in which you are invested links to an underlying CIS managed by a different asset manager (this would be shown on the L&P fund factsheet), please visit their website to review the relevant engagement policy.

The underlying CIS in which the CLL L&P funds invest disclose the strategy of their funds in their fund documentation and provide an indication of what they recommend as the minimum holding period.

The asset managers of the underlying CIS quote a management fee for managing the investments (this is part of these funds’ Ongoing Charges Figure, also known as the OCF). Within the CLL governance framework, the performance of these underlying funds is monitored (net of all costs and charges, including turnover costs) on an ongoing basis, over several time periods. Representatives from CLL also meet with these asset managers each year to discuss performance and other governance matters.