Key Takeaways
- • Sun Life Global Investments and Canada Life launched segregated fund products in early October 2025, with Sun Life introducing two new funds in partnership with Picton Mahoney Asset Management (the Sun Picton Income Fund and Sun Picton Balanced Fund) and Canada Life launching five Index ETF segregated funds across multiple asset classes with guarantee levels of 75/75, 75/100, and 100/100.
- • This marks the first time Picton Mahoney's funds are available as underlying assets in a segregated fund wrapper, expanding distribution channels for the asset manager and broadening product options for advisors and clients.
- • Canada Life's five new Index ETF segregated funds cover Canadian Aggregate Bond, Canadian Large Cap Equity, U.S. Large Cap Equity, International Equity, and Nasdaq 100 indices, providing indexed exposure within insurance-backed guarantee structures.
- • RP Investment Advisors launched the RP Long Term Corporate Bond Fund, an actively managed, investment-grade fixed-income fund designed for pension plan sponsors seeking long-duration assets and enhanced credit diversification beyond traditional government and provincial bonds.
- • Manulife expanded its mortgage insurance footprint in British Columbia through a partnership with M3 Financial Group, offering mortgage creditor life and disability insurance through five brands in M3's broker network, with the ability to provide interim coverage for up to 30 days from application submission.
Summary
The Canadian insurance and asset management sector saw significant product expansion in the week of October 8, 2025, with multiple insurers and investment firms launching segregated funds and fixed-income solutions targeting institutional and retail investors.
Sun Life Global Investments partnered with Picton Mahoney Asset Management to introduce two new segregated funds: the Sun Picton Income Fund and the Sun Picton Balanced Fund. This represents a strategic milestone—the first time Picton Mahoney's investment offerings are available within a segregated fund structure, expanding the firm's distribution capabilities and providing advisors with insurance-wrapped versions of Picton's actively managed strategies.
Concurrently, Canada Life launched five new Index ETF segregated funds, reflecting growing investor demand for indexed exposure combined with insurance guarantees. The funds provide exposure to Canadian Aggregate Bond, Canadian Large Cap Equity, U.S. Large Cap Equity, International Equity, and Nasdaq 100 indices. These products are offered through segregated fund policies with three distinct guarantee level options—75/75, 75/100, and 100/100—allowing clients to select protection levels aligned with their risk tolerance and estate planning objectives.
Beyond segregated funds, RP Investment Advisors (RPIA) launched the RP Long Term Corporate Bond Fund, an actively managed, investment-grade fixed-income strategy. The fund targets plan sponsors with long-term liabilities seeking enhanced credit diversification. Traditionally, institutional investors seeking long-duration fixed-income exposure have been constrained to government, provincial, and corporate bonds; RPIA's new offering aims to address this gap through active management with the objective of outperforming the FTSE Canada Long Term Corporate Bond Index.
In the insurance distribution space, Manulife expanded its mortgage insurance presence in British Columbia through a partnership with Montreal-based M3 Financial Group. Manulife's mortgage creditor life and disability insurance products are now available through five brands within M3's broker network. The integration enables mortgage brokers using M3's mortgage management system to generate and submit Manulife insurance plans and connect clients with Manulife insurance agents for policy completion. Notably, Manulife can provide interim life coverage from the moment an application is submitted for up to 30 days, streamlining the underwriting timeline in the mortgage origination process.
Sun Life Global Investments partnered with Picton Mahoney Asset Management to introduce two new segregated funds: the Sun Picton Income Fund and the Sun Picton Balanced Fund. This represents a strategic milestone—the first time Picton Mahoney's investment offerings are available within a segregated fund structure, expanding the firm's distribution capabilities and providing advisors with insurance-wrapped versions of Picton's actively managed strategies.
Concurrently, Canada Life launched five new Index ETF segregated funds, reflecting growing investor demand for indexed exposure combined with insurance guarantees. The funds provide exposure to Canadian Aggregate Bond, Canadian Large Cap Equity, U.S. Large Cap Equity, International Equity, and Nasdaq 100 indices. These products are offered through segregated fund policies with three distinct guarantee level options—75/75, 75/100, and 100/100—allowing clients to select protection levels aligned with their risk tolerance and estate planning objectives.
Beyond segregated funds, RP Investment Advisors (RPIA) launched the RP Long Term Corporate Bond Fund, an actively managed, investment-grade fixed-income strategy. The fund targets plan sponsors with long-term liabilities seeking enhanced credit diversification. Traditionally, institutional investors seeking long-duration fixed-income exposure have been constrained to government, provincial, and corporate bonds; RPIA's new offering aims to address this gap through active management with the objective of outperforming the FTSE Canada Long Term Corporate Bond Index.
In the insurance distribution space, Manulife expanded its mortgage insurance presence in British Columbia through a partnership with Montreal-based M3 Financial Group. Manulife's mortgage creditor life and disability insurance products are now available through five brands within M3's broker network. The integration enables mortgage brokers using M3's mortgage management system to generate and submit Manulife insurance plans and connect clients with Manulife insurance agents for policy completion. Notably, Manulife can provide interim life coverage from the moment an application is submitted for up to 30 days, streamlining the underwriting timeline in the mortgage origination process.
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