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GWL launches socially responsible segregated fund
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Great West Life unveiled a new socially responsible mutual fund on Jan. 5, one of 12 new segregated funds. Called the GWL Ethics Fund, the fund is a Canadian equity fund. It uses positive screens and a best-of-sector approach to invest in companies that reflect environmental awareness, progressive labour policies and community involvement. The fund uses negative screens to avoid companies involved in tobacco, liquor, critical weapons systems, gaming products and pornography. The fund also avoids companies whose practices directly or indirectly support repressive regimes. Segregated funds are mutual funds guaranteed by insurance companies. The funds are segregated – or kept separate from the assets of the insurance company. Unlike most mutual funds, however, segregated funds typically guarantee to refund a portion of the money an investor has put into the fund, provided he or she retains the fund for a set period. Great-West also announced it is maintaining its Enhanced Guarantee Rider, which provides investors with higher death and maturity benefits and automatic ten-year resets for an additional fee. For more information, visit Great West Life.
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