Canada Life Investments has launched a monthly income, multi-asset fund to tap into rising demand for income drawdown solutions chosen by investors as they increasingly take control of their retirement savings.
The LF Canlife Diversified Monthly Income fund was launched today (1 July) and will be managed by Craig Rippe, head of multi-asset at Canada Life Investments.
The fund will invest in global company shares, international government and corporate bonds as well as property, the firm said.
Rippe added the broad range of securities will "provide well-supported and growing distributions together with prospects for capital preservation and growth".
The fund aims to provide income on a monthly basis alongside long-term growth by pursuing what the managers deem to be the most attractive income opportunities.
Andrew Morris, product specialist at Canada Life Investments, said Rippe was "able to tap the vast experience of our internal fund management teams and their long-term track records in fixed income, equity and property".
He added: "The increased flexibility for taking income at retirement has prompted more people to consider new solutions and this fund aims to provide investors with both monthly income and the prospect of long-term capital growth.
"The fund will sit in the Investment Association's Mixed Investment 20-60% Shares sector.