Canada Life Investment Management Ltd. announces results of special meetings on mergers and terminations as well as other changes to its mutual fund lineup

LONDON, ON, Jan. 15, 2024 /CNW/ - Canada Life Investment Management Ltd. (CLIML) today announced the results of special meetings held on January 15, 2024, where investor approval was sought for certain fund mergers and terminations as outlined below. These mergers are intended to make it easier for advisors and investors to navigate the Canada Life mutual fund product shelf. The mergers and terminations will take place on or about January 26, 2024.

CLIML also announced two additional changes to its mutual fund shelf. Effective January 16, 2024, Canada Life U.S. Small-Mid Cap Growth Fund will be re-opened for new investments. Effective January 26, 2024, the risk rating of Canada Life Global Multi-Sector Fixed Income Fund will change.

Fund mergers

The following fund mergers were approved by investors on January 15, 2024, and are expected to take effect on or about January 26, 2024.

Terminating Fund	Continuing Fund
Canada Life U.S. Mid Cap Growth Fund	Canada Life U.S. Small-Mid Cap Growth Fund
Canada Life Global Growth Balanced Fund	Canada Life Global Strategic Income Fund
Canada Life Global Growth Opportunities Balanced Fund	Canada Life Global Balanced Fund
Canada Life Global Value Balanced Fund	Canada Life Global Balanced Fund
Canada Life U.S. Growth Fund	Canada Life U.S. All Cap Growth Fund
Canada Life American Value Fund	Canada Life U.S. Value Fund
Canada Life European Equity Fund	Canada Life International Equity Fund
Canada Life Global Dividend Fund	Canada Life Global All Cap Equity Fund
Canada Life Global Founders Fund	Canada Life Global All Cap Equity Fund
Canada Life International Growth Fund	Canada Life International Equity Fund
Canada Life North American Specialty Fund	Canada Life U.S. Small-Mid Cap Growth Fund
Canada Life Global Infrastructure Fund	Canada Life Diversified Real Assets Fund
Canada Life Global Real Estate Fund	Canada Life Diversified Real Assets Fund
Canada Life Science and Technology Fund	Canada Life Global Growth Opportunities Fund

Fund terminations

The following fund terminations were approved by investors on January 15, 2024, and liquidation and termination is expected to take effect on or about January 26, 2024.

• Canada Life Short-Term Bond Fund
• Canada Life Canadian Tactical Bond Fund

Re-opening Canada Life U.S. Small-Mid Cap Growth Fund

CLIML is committed to keeping its product shelf relevant and competitive through changing market conditions. That's why on January 16, 2024, it's reopening all series of the Canada Life U.S. Small-Mid Cap Growth Fund to new investors.

The predecessor fund, Mackenzie US Small-Mid Cap Growth Fund, was closed to new investors on July 30, 2021 due to capacity constraints identified by the sub-advisor, Mackenzie Investments. Prior to January 16, 2024, advisors weren't able to make purchases into the Fund for new investors. The sub-advisor has closely monitored the capacity of the Fund and has determined that it can now accept new investors. Therefore, CLIML has determined that it is the appropriate time to re-open it to new investors.

Risk rating change to Canada Life Global Multi-Sector Fixed Income Fund

Effective on or about January 26, 2024, the risk rating for the Fund will decrease.

Fund Name	Previous Risk Rating	New Risk Rating
Canada Life Global Multi-Sector Fixed Income Fund	Low-to-medium	Low

CLIML reviews its funds' risk ratings at least annually, and when a fund undergoes a material change, in accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators.

The above change is the result of the upcoming sub-advisor change announced on November 9, 2023. The Fund will now aim to invest approximately 100 per cent into units of the Canada Life Global Multi-Sector Bond Fund.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

About Canada Life Investment Management Ltd.

Canada Life Investment Management is an investment management firm offering wealth management products and services for individuals, families and business owners. The funds are sub-advised by leading asset managers, providing access to specialized investment expertise from around the world. CLIML is a subsidiary of The Canada Life Assurance Company. Learn more.

SOURCE The Canada Life Assurance Company

Tim Oracheski, Vice-President, Communications, Canada Life, [email protected]