On The Shelf:

By Staff | June 3, 2008 | Last updated on June 3, 2008
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(June 3, 2008) CI Investments Inc. has teamed up with the Bank of Nova Scotia to launch a new principal protected note that offers double exposure to a portfolio of equity and income securities.

The return on Bank of Nova Scotia — CI 2X Deposit Notes, Series 1, will be linked to the performance of CI’s Signature Income & Growth Fund.

The fund is managed by Signature Global Advisors, with chief investment officer Eric Bushell as lead, along with James Dutkiewicz.

The notes are available until July 31, 2008, and will mature in 6.5 years, with distributions rolled over into the note structure. The minimum investment is $5,000.

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IncomePlus hits milestone

(June 3, 2008) Manulife Financial has announced that it has reached a milestone of $5 billion in deposits to IncomePlus guaranteed minimum withdrawal benefit program. The product was the first of its kind to hit the market in Canada, in October 2006.

“Popularity of these products with Canadians speaks to the current mindset of today’s boomer,” said J. Roy Firth, executive vice president, Manulife Financial. “They want protection when markets are volatile, as we’ve seen recently, and growth when markets are good. This product gives them that.”

The GMWB option has indeed become popular in the Canadian segregated fund market. On May 20, Sun Life announced that it had reached $1 billion in assets in its SunWise Elite Plus, the direct competitor to IncomePlus launched in April 2007.


Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.