Canada Life is expanding its range of multi-asset funds with a managed fund seeking a combination of capital growth and income.
Managed by the group's head of multi-asset Craig Rippe, the LF Canlife Managed 20%-60% fund will focus on generating long-term capital growth, which the group went on to characterise as "in excess of five years".
"The 20%-60% is a logical addition to our multi-asset range and neatly rounds off our menu for straightforward, risk-profiled funds," said Rippe.
This diversification allows the management team to spread risk and increase the universe of investment opportunities"
This is the London-based firm's eighth managed multi-asset fund and a reflection of the increasing investor demand for stable returns and steady income, the company stated.
Canada Life Investments already offers a Managed 0% - 35% fund and several balanced open ended investment companies.
Sitting in the Investment Association's Mixed Investment 20%-60 % share sector, the new fund will be invested in income-orientated equities, government bonds, short-duration corporate bonds and UK commercial property.
"This diversification allows the management team to spread risk and increase the universe of investment opportunities," said Rippe.
"Holding such an assortment of allocations within a single fund eases the administration and reduces the burden of keeping track of numerous investments across a variety of providers."
The fund will be invested in a range of other Canada Life funds, including the UK Equity Income fund, the Global Equity fund, the UK Property ACS, the Global Macro Bond fund, the Short Duration Corporate Bond fund and the company's Corporate Bond fund.
The management team believes the assortment of assets within a single fund eases the administration responsibilities of advisers.
Canada Life Investments product specialist Andrew Morris added: "By investing in our own range of actively managed funds, we are able to tap the vast experience of our in-house fund management teams and their long-term track records in fixed income, equity and UK property.
"Investing with them leaves the stockpicking decision-makers with the real power to select the best global assets for delivering growth."