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CI Global Asset Management and Empire Life Introduce CI Empire Life Concentric GIF, a New Suite of Segregated Funds

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CI Global Asset Management ("CI GAM") and The Empire Life Insurance Company ("Empire Life") today announced the launch of CI Empire Life Concentric GIF ("Concentric GIFs"). Concentric GIF segregated fund contracts are issued by The Empire Life Insurance Company and combine the diversification, risk management, and growth potential of actively managed mutual funds with the security of insurance benefit guarantees.

"In the current environment of low interest rates and market uncertainty, investors need investment and estate planning strategies that allow them to achieve reasonable returns while managing risk," said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM. "We believe that Concentric GIFs will be attractive for their simplicity, flexibility, added layer of security, and growth potential."

"We’re pleased to work with CI GAM to offer Canadian investors more options to achieve their financial goals and plan their legacy," says Steve Pong, Senior Vice President, Retail, Empire Life. "CI GAM shares our belief that the role of an advisor is fundamental to helping clients achieve financial security. Concentric GIFs represent a compelling investment option for advisors and their clients."

The segregated funds available under the Concentric GIF contracts invest in underlying funds that are managed by CI GAM. The extensive choice of Concentric GIF mandates reflects CI GAM’s broad investment capabilities, with 22 segregated fund options – 15 individual and seven all-in-one managed solutions – allowing investors to access a range of management styles and geographic diversification across their preferred asset allocation, ranging from 100% equity to 100% fixed income.

The segregated fund structure simplifies estate planning with the potential to preserve capital and bypass any associated probate fees. The segregated fund contracts provide maturity and death benefit guarantees. The maturity benefit is equal to 75% of deposits (reduced proportionately by any withdrawals) with the maturity date occurring on December 31 of the year that the annuitant turns 100 years old. If the contract owner dies before the maturity date, a death benefit of either 75 or 100% of all deposits (reduced proportionately by any withdrawals) is paid to the beneficiary depending on the death benefit guarantee selected. All Concentric GIFs are eligible for non-registered accounts and registered plans, including tax-free savings accounts.

For more information, please visit www.ci.com/concentric.

About Empire Life

Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products to Canadians. The company’s mission is to make it simple, fast and easy for Canadians to build wealth, generate income, and achieve financial security. As of December 31, 2020, Empire Life had total assets under management of $18.8 billion. Follow us on social media @EmpireLife or visit www.empire.ca for more information.

About CI Global Asset Management

CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $236.5 billion in total assets as at February 28, 2021.

No offering is being made by this material. This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.

CI Global Asset Management is a registered business name of CI Investments Inc.

CONCENTRIC is a trademark of The Empire Life Insurance Company. EMPIRE LIFE and the Empire Life logo are registered trademarks of The Empire Life Insurance Company. Certain names, words, phrases, graphics or designs may constitute trade names, registered or unregistered trademarks or service marks of CI Investments Inc. and are used with permission.

A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value. Please read the information folder, contract and fund facts before investing.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210419005175/en/

Contacts

Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com

Sherif Farid
Director, Investment Marketing
Empire Life
289-983-9317
sherif.farid@empire.ca