MONTREAL, Dec. 2 /CNW Telbec/ - Standard Life Mutual Funds Ltd. today announced that starting on or about January 11, 2010, its new Standard Life Corporate Class funds will be available through authorized advisors, subject to regulatory approvals. Standard Life Corporate Class, which helps investors make tax-efficient investments in their non-registered portfolios, offers a family of mutual funds in 17 share classes.
Corporate class funds are comprised of classes of mutual funds that are set up under the umbrella of a corporation, and they allow investors to switch between classes in a tax-efficient manner. Unlike traditional mutual funds, corporate class funds do not trigger capital gains when switching from one share class to another.
"Standard Life Mutual Funds already allow investors to build diversified portfolios comprised of some of the most promising investment opportunities from around the world," said Denis Berthiaume, Standard Life's Senior Vice-President of Retail Markets. "With Standard Life Corporate Class, advisors and their clients can now enjoy all the benefits of our traditional mutual fund line-up, with an added layer of tax-efficiency."
Assets of the Standard Life Corporate Class funds are managed by Standard Life Investments Inc., a global asset management company providing institutional fund management expertise to individual investors.
About Standard Life
Standard Life is a major asset managing group originating from Scotland and operating across the globe. Established in 1825, Standard Life provides retirement, investment and insurance products to over 6.5 million customers worldwide. The group has around 10,000 employees across the U.K., Canada, Ireland, Germany, Austria, India, Hong Kong and mainland China. It had $278.9 billion in assets under administration, as at June 30, 2009.
In 2006, after 80 years as a mutual company, The Standard Life Assurance Company demutualized and Standard Life plc was listed on the London Stock Exchange. Standard Life now has approximately 1.5 million individual shareholders in over 50 countries.
In Canada, Standard Life has been doing business for more than 175 years. Standard Life Financial Inc., which wholly owns The Standard Life Assurance Company of Canada and Standard Life Mutual Funds Ltd., is Standard Life plc's largest operation outside the U.K. With over 2,000 employees based in Montréal and across Canada, it serves more than 1.3 million Canadians, including group insurance and pension plan participants. It had $33.7 billion of assets under administration, as at June 30, 2009.
SOURCE Standard Life Mutual Funds Ltd.
For further information: For further information: Ann-Marie Gagné, Manager, External Communications and Public Affairs, Standard Life, 1-877-499-9555, ext. 4600, (514) 499-7999, ext. 4600, firstname.lastname@example.org