Canada Life streamlines segregated fund shelf with a simplified lineup of high conviction investment managers

LONDON, ON, May 11, 2026 /CNW/ - The Canada Life Assurance Company ("Canada Life") today announced a series of changes across select segregated funds, reflecting its ongoing commitment to providing advisors and their clients with access to high‑quality investment management expertise through a streamlined fund shelf.

"These changes aim to strengthen our offering and align investment strategies with those that are sought after by our advisors and their clients," said Sam Febbraro, Senior Vice President, Wealth Solutions, Canada Life. "At the same time, we are making our lineup easier for advisors to navigate, implement, and explain to clients --so they can spend more time focused on their client outcomes."

These changes leverage both the long-standing and high-quality relationships that exist at Canada Life as well as those acquired through the acquisitions of Counsel Portfolio Services Inc.* and Value Partners Investments Inc. By providing strategies on our fund shelf with differentiated investment approaches and trusted investment managers, Canada Life aims to help advisors construct portfolios with greater clarity and confidence.

"I am very excited that we are bringing some of the strong relationships we have across our other businesses to our segregated fund shelf," said Febbraro. "We've worked closely with strong firms like Picton Investments and Marsico, and we're investing in mutual funds managed by Value Partners Investments Inc. through our new relationship with them." In addition, Canada Life will be leveraging existing relationships with Fidelity Investments to have our segregated funds invest in in-demand investment solutions like Fidelity Global Innovators Fund and Fidelity Multi-Asset Innovation Fund.

Canada Life will also be updating fund names, risk ratings, availability status and investment management fees as required as a result of the investment manager changes.** For a full list of investment manager changes, see table below.

Alongside these changes, Canada Life announced the launch of the Global Listed Private Equity segregated fund on May 11, 2026. The segregated fund seeks to provide long-term capital appreciation by investing in the Counsel Global Listed Private Equity Pool that provides exposure to publicly listed global private equity companies and private asset classes subject to certain conditions.***

The Canada Life Global Listed Private Equity segregated fund will be the first segregated fund available in Canada for individual investors with a focus on publicly traded private equity companies, demonstrating the innovative solutions available to further support Canadians' long-term financial goals.

Canada Life is committed to maintaining a disciplined fund shelf, one that balances choice with clarity and combines global investment expertise with oversight. These changes represent another step in supporting advisors and their clients with solutions that are easier to use, easier to position, and built on strong investment conviction.

Canada Life segregated funds:

New Segregated Fund Name	New Investment Manager
VPI Corporate Bond	Canso Investment Counsel Ltd.
VPI Canadian Balanced	Dixon Mitchell Investment Counsel Inc.
Fidelity Multi-Asset Innovation^®	Fidelity Investments Canada ULC
Canadian Fixed Income Balanced II	Mackenzie Investments
Canadian Equity Value III	Mackenzie Investments
Canadian Equity Value IV	Mackenzie Investments
Canadian Growth Equity	Picton Mahoney Asset Management
Canadian Growth II	Mackenzie Investments
Canadian Large Cap Equity Index ETF II	Mackenzie Investments
VPI Canadian Equity	Value Partners Investments Inc.
U.S. Growth	Marsico Capital Management, LLC
U.S. Large Cap Equity Index ETF II	Mackenzie Investments
U.S. Value II	The Putnam Advisory Company, LLC
Fidelity Global Innovators^®	Fidelity Investments Canada ULC
Global All Cap Equity II	Keyridge Asset Management Ltd.
Global Dividend Equity	Acadian Asset Management LLC
Global Equity	Mackenzie Investments
International Equity Index ETF II	Mackenzie Investments

Canada Life segregated funds originally with Great-West Life:

Segregated Fund	New Investment Manager
VPI Canadian Balanced	Dixon Mitchell Investment Counsel Inc.
Canadian Equity Value	Mackenzie Investments
Canadian Equity Value II	Mackenzie Investments
Canadian Growth Equity	Picton Mahoney Asset Management
Canadian Growth Equity II	Picton Mahoney Asset Management
VPI Canadian Equity	Value Partners Investments Inc.
Global All Cap Equity II	Keyridge Asset Management Ltd.
International Equity II	JPMorgan Asset Management (Canada) Inc.

* Counsel Portfolio Services Inc. has since amalgamated with Canada Life Investment Ltd.

** Details of these changes can be found in the Notes section of the applicable Funds Facts.

*** Including approval from the Counsel Global Listed Private Equity Pool's Independent Review Committee.

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.

A description of the key features of the segregated fund policy is contained in the information folder. Any amount allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value. These funds are available through segregated funds policies issued by Canada Life.

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, Communications, Canada Life, 204-946-7380, [email protected]