Canada Life Investment Management Ltd. announces proposed mutual fund mergers and investment objective changes to certain mutual funds

LONDON, ON, Sept. 9, 2026 /CNW/ -- Canada Life Investment Management Ltd. today announced proposed changes to certain mutual funds, including tax-deferred mergers and investment objective changes, subject to unitholder approval, as applicable.

These changes are intended to further strengthen its product shelf by consolidating similar mandates, improving overall lineup efficiency, and helping advisors more easily identify solutions that align with their clients' goals. Through these changes, investors will continue to have access to high-quality investment options designed to help deliver competitive risk-adjusted outcomes.

"We continuously evaluate our investment lineup to ensure it reflects the evolving needs of advisors and investors," said Sam Febbraro, President and CEO of Canada Life Investment Management Ltd. "These proposed mergers and investment objective changes are designed to enhance the overall client and advisor experience by creating a more streamlined range of solutions, making it easier to identify the investments best suited to help achieve long-term financial objectives."

Merger to be voted on

Terminating Fund	Continuing Fund
Counsel U.S. Growth Equity	Counsel U.S. Growth

Investors of record of the terminating fund as of September 16, 2026, will receive a notice prior to a special meeting to be held on or about October 30, 2026. If approved, the merger is expected to be effective on or about November 13, 2026. The funds' Independent Review Committee provided a positive recommendation that the merger to be voted on, if implemented, would achieve a fair and reasonable result for the funds.

Mergers not requiring a vote

Terminating Fund	Continuing Fund
Counsel Focus Conservative Portfolio	Counsel Conservative Portfolio
Counsel Focus Balanced Portfolio	Counsel Balanced Portfolio
Counsel Focus Growth Portfolio	Counsel Growth Portfolio
Counsel Focus Equity Portfolio	Counsel All Equity Portfolio

The mergers described above were reviewed and approved by the funds' Independent Review Committee.

No investor action is required for these mergers. Investors of record as of September 1, 2026, will receive at least 60 days' notice with details regarding these mergers, which are expected to occur on or about November 13, 2026.

Proposed investment objective changes

Canada Life Investment Management Ltd. is proposing changes to the investment objective of the below-noted funds, subject to approval at a special meeting of investors to be held on or about October 30, 2026. Prior to a special meeting of investors, a notice of meeting will be mailed, to all investors of record as of September 16, 2026 for the impacted Counsel Portfolios and September 17, 2026 for the impacted Canada Life Mutual Funds.

Counsel Short Term Bond

If approved, effective on or about November 20, 2026, the fund's investment objective will change from investing primarily in Canadian fixed income securities to investing in fixed income securities of issuers anywhere in the world. Additionally, the investment strategy will change to focus on global bonds that are divided ("laddered") into groupings with staggered maturity dates and the fund will be renamed Counsel Laddered Bond.

Counsel Monthly Income Portfolio

If approved, effective on or about November 20, 2026, the fund's investment objective will change from investing primarily in Canadian and U.S. fixed income securities to investing in a combination of equity and fixed income securities of issuers anywhere in the world and will seek to achieve a moderate level of income while preserving investment capital and liquidity. Along with this proposed change, the investment strategies will be updated to reflect an asset mix of 40%-60% equity securities and 40%-60% fixed income securities. The previous asset mix was 45%-65% equity securities and 35%-55% fixed income securities.

Canada Life Diversified Fixed Income Portfolio

If approved, effective on or about November 23, 2026, the fund's investment objective will change from investing in Canadian fixed income securities to investing in a diversified portfolio of global fixed income securities. Along with this proposed change, the fund will be renamed Canada Life Diversified Fixed Income Pool, the risk rating will increase from low to low-to-medium, PIMCO Canada Corp. will assume sub-advisory responsibility of the Fund and the investment strategies will be updated to reflect the new sub-advisor's approach to global fixed income investing.

Counsel Global Real Estate

If approved, effective on or about January 25, 2027, the fund's investment objective will change from investing primarily in real estate securities to investing in a broader and more diversified portfolio of real assets and will seek to provide long-term capital growth and maximize real returns during inflationary environments. Along with this proposed change, the fund will be renamed Counsel Diversified Real Assets, the sub-advisor will change to Cohen & Steers, the investment strategies will be updated to reflect the new sub-advisor's approach to investing across real assets, and the fund's risk rating will decrease from medium to low-to-medium.

Canada Life Foreign Equity Fund
If approved, effective on or about January 25, 2027, the fund's investment objective will change to remove the emerging markets restriction and protection of capital. Along with this proposed change, the fund's risk rating will increase from low-to-medium to medium.

About Canada Life Investment Management Ltd.
Canada Life Investment Management Ltd. 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.

About Canada Life
Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical, and mental well-being of Canadians. For over 175 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we've made. We proudly serve more than 14 million customer relationships from coast to coast. Canada Life is a subsidiary of Great-West Lifeco Inc. and a member of the Power Corporation of Canada group of companies. Visit canadalife.com to learn more.

Canada Life Mutual Funds and Counsel Portfolios are managed by Canada Life Investment Management Ltd. They are distributed by Quadrus Investment Services Ltd., IPC Investment Corporation, and IPC Securities Corporation, and may also be available through other authorised dealers in Canada.

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.

Canada Life Investment Management and design, and Canada Life and design, are trademarks of The Canada Life Assurance Company.  

SOURCE Canada Life Investment Management Ltd. (CLIML)

For more information contact: Colin Roy, Associate Manager, Media Relations, Canada Life, 204-946-7380, [email protected]