Impact of Russia-Ukraine conflict on the Empire Life Dividend Growth GIF*
In light of the Russia-Ukraine conflict, Senior Portfolio Manager, Doug Cooper provides an update on changes to investments within the
Empire Life Dividend Growth GIF. The most notable change is a reduction in international equity exposure, primarily in the UK and continental Europe, and an increase in Canadian equity exposure. Doug discusses the current positioning of the fund, including:
- The Russia-Ukraine conflict making Canada a relatively attractive investment
- Higher commodity costs warranting greater exposure to Canada
- Greater supply-chain challenges fueling further inflation concerns
- Managing for downside risk to global economic growth
- Potential support from dividend growth and relative strength of the Canadian dollar.
Read Doug’s commentary to get the full picture of why he feels expectations for Canada’s economic growth have improved in 2022.
* The legal name of the fund is “Dividend Growth Fund”.
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.
