We have been informed by Fiera Capital Corporation of fund changes that impact some of our Managed Index Interest Options.
Fiera Capital Corporation is implementing some funds changes, across its platform in December 2022. Two of these changes are impacting our universal life insurance fund line-up.
The Designated Indices of the following imaxx Managed Index Interest Options will be terminated on or about December 21, 2022. Accordingly, effective on or about December 5, 2022, the Designated Index, of the corresponding Managed Index Interest Options, were changed to reflect the new Funds as listed below:
Note: The investment objective of the previous and new Designated Indices is similar.
ivari UniversalTM, WealthADVANTAGETM & EstateADVANTAGETM | |||
---|---|---|---|
Managed Index Interest Option | Designated Index | ||
PREVIOUS | NEW | PREVIOUS | NEW |
imaxx Canadian Bond Index Interest Option | Fiera SFI – Canadian Universe Bond Index Interest Option | imaxx Canadian Bond Fund | Fiera SFI – Canadian Universe Bond Fund |
imaxx Canadian Equity Growth Index Interest Option | Fiera Canadian Equity Index Interest Option | imaxx Equity Growth Fund* | Fiera Canadian Equity Fund |
*In 2017, the name of the imaxx fund was changed by Fiera Capital Corporation from imaxx Canadian Equity Growth Fund to imaxx Equity Growth Fund.
A message will be included in the policyholder’s statement, under the ‘Keeping You Informed’ section, to inform policyholders about these changes.
Fund codes chart LP946 and Supplement to the Insurance Application Universal Life LP343 have been edited to reflect the changes and are available on ivari.ca.
As well, policy contracts for “ivari Universal Life“ policies issued on or after December 5, 2022, have been edited to reflect the changes.
For information on the new Designated Index (e.g.: asset class, MER, holdings, risk profile), please refer to the Fiera Funds overview. In January 2023, the monthly Performance Update Pages for the new Fiera funds will be available on ivari.ca1
For an illustration submitted prior to December 5, 2022, where the application/policy is still pending, please inform your clients of the fund changes. The LifeView illustration tool has been updated to reflect these changes.
1 December month-end Performance Updates Pages will be available on or about January 15, 2023.
Published on: December 5, 2022