Canada Life Asset Management has announced that it has implemented an ongoing charge (OCF) cap of 0.65% for the WS Canlife Portfolio fund multi-asset range, while at the same time increasing its capacity to invest directly securities, bonds and alternatives from 10% to 30%.
The total cost investors pay will not exceed this, regardless of market conditions, portfolio turnover or changes to the underlying holdings, the company said in a statement earlier today. As an example, an investor with £100,000 in Portfolio VII will save around £140 per year based on the revised OCF.
In addition, the company has updated restrictions on the portfolios’ ability to invest directly in listed securities, bonds and alternatives. As a result, from 7 July 2025 will increase from the current 10% ceiling to 30%.
Craig Rippe, Head of Multi‑Asset, Canada Life Asset Management said: “With over £40bn in assets under management at Canada Life Asset Management, our scale enables us to deliver meaningful savings directly to clients while maintaining the disciplined, risk-targeted approach that defines our multi-asset funds. The broader 30% direct-asset allocation flexibility allows us to capture further investment opportunities without adding extra fund costs.
“This scale has also enabled us to unlock operational efficiencies. As our assets have grown, our fixed-cost ratios have fallen, and we’ve been able to negotiate more competitive costs. We are delighted to be able to pass those savings on to investors.
“At the same time, we recognise the regulatory and client-driven momentum around cost transparency and fairness. While we believe value goes beyond headline fees, we aim to reduce costs where we can - without compromising on quality or outcomes.”
