TORONTO, June 17 /CNW/ - Russell Investments Canada Limited announced
today that LifePoints 2010 Portfolio, LifePoints 2020 Portfolio and LifePoints
2030 Portfolio (the "Funds") will be terminated on or about November 2, 2009.
Effective today, units of the Funds will no longer be available for purchase
by the public.
The decision to terminate the Funds was driven by a relatively low number
of unitholders and assets, and the costs associated with maintaining smaller
Prior to the termination on or about November 2, 2009, unitholders of the
Funds will have the option to switch their investment to any of the other
Russell LifePoints Portfolios or to redeem their units.
On or about November 2, 2009, Russell Investments will liquidate the
holdings of the terminating Funds at fair market value and distribute the net
assets to unitholders. Unitholders will not be required to pay any redemption
fees, sales charges or other fees associated with the termination of the
Funds. All costs strictly associated with the termination of the Funds will be
borne by Russell Investments.
Russell Investments strongly encourages unitholders to consult with their
financial advisor to discuss their individual circumstances, including
possible tax consequences, and determine the solution that best meets their
Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range of
institutional-quality investment products. With approximately $171.2
billionCDN in assets under management (as of 3/31/09), Russell serves
individual, institutional and advisor clients in more than 40 countries.
Russell provides access to some of the world's best money managers. It helps
investors put this access to work in corporate defined benefit and defined
contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell Investments is a subsidiary of Northwestern
Mutual Life Insurance Company and headquartered in Tacoma, Wash. Russell has
principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New
York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Russell Investments Canada Limited is a wholly-owned subsidiary of Frank
Russell Company. For more information, please go to www.russell.com/ca.
For further information:
For further information: Thien Huynh, (416) 640-2529; Katita Stark,