(Toronto, ON – February 5, 2024) – The Empire Life Insurance Company (Empire Life) is pleased to announce that Empire Life Asset Allocation GIF and Empire Life Canoe Moderate Growth Portfolio GIF 1 have been recognized for their exceptional risk-adjusted performance over the 2023 calendar year, each winning a Fundata FundGrade A+® Award. This is the 6th time Empire Life Asset Allocation GIF has received this award.
Fundata determines the winners using an objective score-based calculation that determines their “best of the best” in various fund categories for each calendar year.
“Empire Life Asset Allocation exemplifies the team’s commitment to our disciplinedinvestment style. The fund's tactical asset allocation process considers insights and perspectives from members of both our equity and fixed teams, with a strong emphasis on finding great businesses at attractive valuations to help build wealth,” said Paul Holba, Chief Investment Officer, Empire Life Investments Inc. “The fund is not only our largest segregated fund, but it has a strong track record of performance across 1, 3, 5, 10, and 15-year performance periods 2 ”.
Mr. Holba also noted that the Empire Life Canoe Moderate Growth Portfolio GIF demonstrates our commitment to offering a variety of investment styles and managers to help investors build successful portfolios, stating, “We are proud to offer investors these award-winning funds and a diverse range of investment options in our segregated fund contracts to help them achieve their financial goals.”
Empire Life Asset Allocation GIF and Empire Life Canoe Moderate Growth Portfolio GIF are available in the Empire Life Guaranteed Investment Funds (GIF) contract. For more information about these award-winning funds or the full suite of Empire Life segregated funds, visit our website www.empire.ca.
1. This is the marketing name for the fund as an investment option under an Empire Life GIF contract. The fund’s legal name is Canoe EL Moderate Growth Protection Portfolio.
2. Source: Morningstar Research Inc. as of December 31, 2023, based on Class A, Class A units are only available to existing clients.
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
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About the Fundata FundGrade A+ Rating
The FundGrade A+® rating is used with permission from Fundata Canada Inc., all rights reserved. Fundata is a leading provider of market and investment funds data to the Canadian financial services industry and business media. The Fund-Grade A+® rating identifies funds that have consistently demonstrated the best risk-adjusted returns throughout an entire calendar year. For more information on the rating system, please visit www.Fundata.com/ProductsServices/FundGrade.aspx.
About Empire Life
Established in 1923 and a subsidiary of E-L Financial Corporation Limited, The Empire Life Insurance Company provides individual and group life and health insurance, investment and retirement products. The company’s mission is to make it simple, fast and easy for Canadians to get the products and services they need to build wealth, generate income, and achieve financial security. As of September 30, 2023, Empire Life had total assets under management of $17.2 billion. Follow us on social media @EmpireLife or visit empire.ca for more information.
About Empire Life Investments Inc.
Empire Life Investments Inc. is a wholly-owned subsidiary of The Empire Life Insurance Company. The company is the portfolio manager of certain Empire Life segregated funds. Follow Empire Life Investments Inc. on Twitter @EmpireLifeInv or visitempirelifeinvestments.ca for more information.
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Contact: Sherif Farid
Director, Investment Marketing
(289) 983-9317
sherif.farid@empire.ca
www.empire.ca