Canada Life Investments confirms its intention to launch the CF Canlife Sterling Liquidity Fund (the Fund). The Fund, which is suitable for institutional investors, will aim to deliver an enhanced return in comparison to short-term bank deposits, based on a diversified portfolio including high quality commercial paper, certificates of deposit, floating rate notes and short dated bonds, which will carry a minimum A rating.
Lead-managed by Steve Matthews with support from Assistant Fund Manager Andy Head, the Fund will aim to combine a high degree of capital security with daily liquidity. Steve and Andy have worked together for 14 years and already run a number of institutional liquidity mandates with specific risk and return requirements, as well as life and pension money funds. Drawing on their significant experience and market relationships, we believe the CF Canlife Sterling Liquidity Fund will be a welcome addition to the sector, particuarly given its attractive Ongoing Charge Figure (OCF) of approximately 0.16%.
Steve joined Canada Life Investments in 1996 and has been managing its liquidity funds since 2002 with approximatively £2.5bn* of assets under management (AUM). He is also responsible for managing short dated bond and liquidity mandates for a range of institutional clients. Steve is a fellow of the Chartered Institute for Securities & Investments.
Andy joined Canada Life Investments in 2003 co-managing the liquidity funds. He holds the Investment Management Certificate and is a member of the Chartered Institute for Securities & Investment.
David Marchant Chief Investment Officer of Canada Life Limited & Managing Director of Canada Life Asset Management Limited said:
“Uncertainty continues to dominate the financial markets and while equity markets rally, fears over valuations persist testing the nerves of market participants. Against this backdrop, we anticipate strong demand from institutions seeking a secure vehicle for cash deposits, offering an enhanced return relative to cash markets, with the added benefit of daily liquidity. The CF Canlife Sterling Liquidity Fund aims to meet this demand, enabling investors to generate a return on their deposits, manage cashflow efficiently and securely whilst also maintaining the ability to put cash reserves to play in markets strategically.”
*Source: Canada Life Investments, as at 31/12/2016
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About Canada Life Investments
Canada Life Investments is a UK-based asset manager responsible for managing more than £36bn of equities, fixed income and property*. We have been active in the UK for more than 100 years, having first established our life insurance business here in 1903. Our focus is on the long term and we believe that active management is the best way to add value for our clients and generate superior returns.
Our parent company, Great-West Lifeco, is one of Canada’s largest financial companies with over £750bn consolidated assets under administration**. By being part of a much larger group, we are able to draw on a pool of expertise and resources that enable us to better serve our clients and help them to meet their objectives.
At the heart of our business is a range of investment solutions designed to meet investors’ needs. We have expertise investing in equities, fixed income and property, and offer a range of open-ended funds (OEICs) that cover UK and international equities and bonds, as well as multi-asset solutions.
Our 58-strong team of investment professionals is based in the heart of the City of London and has extensive experience across all of the major asset classes. With an average tenure of nine years with the company, our managers work in a tight-knit atmosphere that fosters the sharing of ideas and allows for empowered decision-making.
* As at 31/03/17
** As at 31/12/16
CLI00754 Expiry September 2017