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Canada Life announces changes to special situations fund

Canada Life has announced it will temporarily close its Canlife Fidelity special situations fund a week before Fidelity splits the 6bn fund into global and Uk mandates on September 18.

Canlife currently has 4.9m invested in the Fidelity fund and will close the fund to new business and inward switches one week prior to the split. It will reopen on September 18 having executed a 50/50 split of its fund assets into the two new portions of the fund.

Canada Life client fund manager Gavin Watson says: “The decision to split the fund on a 50/50 basis will make life easier for advisers when it comes to asset allocation and portfolio construction.”

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