TORONTO, Dec. 13, 2004 – Transamerica Life Canada announces lower management fees on select imaxxGIF(tm) segregated funds, effective today.
This fee reduction applies to guaranteed investment funds in all guarantee levels within the imaxxGIF(tm) family of segregated funds, and will result in lower Management Expense Ratios (MERs) for each applicable fund. The expected MER reductions range from 0.05% to 0.70%, depending on the fund and guarantee level. For example, the management fee for TOP Growth GIP at the 100/100 level has decreased from 3.82% to 3.29% (with G.S.T.). This fee decrease is a result of Transamerica’s regular pricing review process, which included a comprehensive risk profile analysis of the imaxxGIF(tm) product and funds. A schedule of the new fees and estimated management expense ratio for each imaxx guaranteed investment fund is available for download by investors at www.transamerica.ca.
Geraldo Ferreira, Vice-President, Investment Product Development and Marketing, says “Investors will benefit from the reduced fees as more of their investment dollars go directly to their portfolio, a prime opportunity at RRSP season. The benefit to the independent advisor is that the fund offering, which is already made up of top-performing funds, is now that much more appealing to investors.”
The imaxxGIF(tm) policyholders will continue to enjoy all the benefits and features of their existing policies, including the choice of three different levels of insurance protection, and a fund line-up consisting of:
- 10 Guaranteed Investment Funds;
- 3 Asset Allocation Guaranteed Investment Funds; and
- 7 TOP Guaranteed Investment Portfolios.
As well, there is an automatic annual reset of the Death Guaranteed Amount on each anniversary of the contract until the annuitant’s 81st birthday.
Advisors can access the client letter, the imaxxGIF – Information Folder Supplement and a Q & A on Transamerica’s Distributor Website, http://transact.transamerica.ca. To find out more about imaxxGIF(tm) segregated funds and other Transamerica investment or insurance solutions, please visit www.transamerica.ca.
Transamerica Life Canada
Transamerica Life Canada provides Canadians with innovative life insurance and investment products and services. Through a national network of 18,000 independent advisors, Transamerica creates better futures for stakeholders through our core values: Respect, Quality, Transparency and Trust.
Transamerica Life Canada is a member of the AEGON Group, one of the world’s largest insurers. AEGON N.V. and Transamerica Life Canada have consistently received strong financial ratings from Standard and Poor’s, Fitch and A.M. Best Company. In 2003, Transamerica Life Canada earned more than $580 million in life insurance premium income and recorded over $8 billion in total assets under management.
