Repositioning in Anticipation of Inflation and Support for the Canadian Market

Since taking over management of the fund earlier this year, Portfolio Managers Ian Fung and Sara Shahram have reduced the Empire Life Balanced GIF’s fixed income weight in anticipation of inflation and higher interest rates. US equity weight was also reduced as the reopening of market economies is expected to be supportive of cyclical equities, which dominate the Canadian market. In this commentary advisors will also learn: 

• How Sara has been modestly repositioning the Canadian equity allocation, focusing on high-quality companies with growth potential
• How Ian sees the credit market and what changes he's made in the fixed income allocation since joining the team earlier this year
• Where the two Portfolio Managers work with the broader investment team on asset allocation decisions and where they see opportunities in current markets. 

Empire Life Investments Inc., a wholly-owned subsidiary of The Empire Life Insurance Company, is the Manager of Empire Life Mutual Funds and the Portfolio Manager of Empire Life Segregated Funds. The units of the Funds are available only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such units. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund and segregated fund investments. Investments are not guaranteed, their values change frequently, and past performance may not be repeated. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Segregated Fund policies are issued by The Empire Life Insurance Company.

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