We have been informed by CI Global Asset Management of a fund name change that they implemented across their platform on June 21, 2024. It impacts one Managed Index Interest Option in our universal life contracts noted in the chart below.
Effective June 21, 2024, the Designated Index, previously known as CI Canadian Small/Mid Cap Equity Income Fund, underwent a name change to CI North American Small/Mid Cap Equity Fund. Accordingly, on or about October 22, 2024, the name of the corresponding Managed Index Interest Option was updated to reflect the new name as below:
| prosperity Universal LifeTM, ivari UniversalTM, WealthADVANTAGETM & EstateADVANTAGETM | |||
| Managed Index Interest Option | Designated Index | ||
| PREVIOUS | NEW | PREVIOUS | NEW |
| CI Canadian Small/Mid Cap Equity Income* | CI North American Small/Mid Cap Equity | CI Canadian Small/Mid Cap Equity Income Fund | CI North American Small/Mid Cap Equity Fund |
*This Managed Index Interest Option is not available under prosperity 1 (PR1).
There was no change to the investment objective.
How will your clients be informed?
A message will be included in the policyholder’s statement, under the ‘Keeping You Informed’ section, to inform policyholders about the name change.
The updated Fund codes charts WFG-LP1779 and LP946 are available on ivari.ca. This change has also been implemented on ivari 360. ivari Universal Life and prosperity Universal Life policies issued on or about October 22, 2024 will reflect the new fund name.
For applications submitted prior to October 22, 2024, that are still in a pending status, please inform your clients of the fund name change.
Published on: October 16, 2024