Canada Life Canadian Asset Allocation (Fidelity)
Asset Class
Portfolio
Balanced funds
This segregated fund invests all of its assets in the
Fidelity Canadian Asset Allocation Fund, a mutual fund
managed by Fidelity Investments Canada ULC.
Composition
• When buying and selling equities, factors like growth
potential, earnings estimates and quality of management
are considered.
• When buying and selling fixed-income securities,
the security’s features, its current price compared to its
estimated long-term value, the credit quality of the issuer
and any short-term trading opportunities resulting from
market inefficiencies are analyzed. The fund may also
enter into repurchase agreements.
• The fund may invest up to approximately 30% of its
assets in foreign securities.
• The fund may use derivatives like options, futures,
forward contracts and swaps to hedge against losses
caused by changes in stock prices or exchange rates.
It may also use these derivatives as a substitute for
a stock or stock market, which is known as a “nonhedging” purpose.
Notes
Note that the segregated fund is offered by Canada Life,
and any contract holder does not become a unitholder
of the underlying fund.
Fidelity Investments is a registered trademark of FMR
Corp.
* ©2004 MSCI – Copyright Morgan Stanley & Co.
Incorporated. All Rights Reserved. Unpublished,
PROPRIETARY TO MORGAN STANLEY & CO.
INCORPORATED
Value Blend Growth
Top 15 Holdings
% Assets
Overnight Cash/Repurchase Agreements
EnCana Corporation
Manulife Financial Corporation
Suncor Energy, Inc.
Research in Motion, Ltd.
15.2
4.1
4.0
3.9
3.5
Canadian Natural Resources, Ltd.
Toronto-Dominion Bank
Potash Corporation of Saskatchewan, Inc.
Rogers Communications, Inc. B
Canadian Oil Sands Trust
3.4
3.4
3.2
2.5
2.3
Canada Housing Tr 3.6% 15-06-2013
Bank of Montreal
Canada Housing Tr No 1 3.95% 15-12-2011
Canada Govt 5.75% 01-06-2033
Fording Canadian Coal Trust, Inc.
1.8
1.7
1.6
1.6
1.5
Financial Highlights (*as of 12-31)
Total Net Assets (Mil$)
Segregated Fund Turnover Rate
Underlying Fund Turnover Rate
Short Intm
Long
Top 5 Global Equity Sectors
% Equity
Energy
Financials
Materials
Information Technology
Telecommunications Services
Fixed Income Breakdown
32.0
24.8
19.2
7.2
6.7
% Fixed Income
Government Bonds
Corporate Bonds
Other Bonds
Mortgage Backed Securities
ST Investments (Cash & Equivalents)
Asset Backed Securities
27.1
33.0
0.3
0.7
37.9
1.0
Top 5 Countries
% Assets
Canada
United States
United Kingdom
Australia
Brazil
80.4
3.1
0.3
0.1
0.1
*2003
*2004
*2005
*2006
*2007
93.1
7.8
69.0
113.2
7.1
67.0
133.8
7.2
42.0
156.9
8.0
84.0
173.7
6.3
85.0
12.9
6,934.0
2.70
3.05
14.2
7,372.0
2.70
3.03
16.1
7,938.0
2.70
3.03
17.9
8,427.0
2.70
3.00
18.8
8,639.0
2.70
3.03
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
10.1
4.0
2.75
3.09
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
11.0
205.0
2.80
3.11
11.6
693.0
2.80
3.01
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
10.1
4.0
2.95
3.30
Generations
Net Asset Value Per Unit ($)
Number of Units Outstanding (000's)
Management Fee (%)
Management Expense Ratio (MER%)
Generations Core
Net Asset Value Per Unit ($)
Number of Units Outstanding (000's)
Management Fee (%)
Management Expense Ratio (MER%)
Generations I
Fund Risk
General
Special Equities
Interest Rate
Securities Lending
Market
Currencies
Sovereign
Underlying Fund
Foreign Market
Credit
Derivative
Index
Real Estate
Low
• The fund’s neutral mix is 65% equities, 30% fixedincome securities and 5% money market instruments.
The mix may vary from the neutral mix if it is believed
that this will produce the best overall return.
Fixed Income Style
Small
Investment Strategy (of the underlying fund)
Equity Style
15.7
25.7
56.6
1.6
0.3
0.1
Med
Investment Objective (of the underlying fund)
Fidelity Canadian Asset Allocation Fund aims to achieve
high total investment return. This fund uses an asset
allocation approach. It invests primarily in a mix of
Canadian equity securities, fixed-income securities
and money market instruments.
% Assets
Cash
Fixed Income
Canadian Equity
U.S. Equity
International Equity
Other
High
Portfolio Analysis as of 09-30-2008
Large Mid
Segregated Fund Investment Objective
Fund Category
Canadian Equity Balanced
Net Asset Value Per Unit ($)
Number of Units Outstanding (000's)
Management Fee (%)
Management Expense Ratio (MER%)
Generations II
Net Asset Value Per Unit ($)
Number of Units Outstanding (000's)
Management Fee (%)
Management Expense Ratio (MER%)
©2008. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted
to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Canada Life Canadian Asset Allocation (Fidelity)
Asset Class
Performance
Balanced funds
Category Description
Fund Category
Canadian Equity Balanced
Performance as of 09-30-2008
Category: Canadian Equity Balanced
22
Funds in the Canadian Equity Balanced category must
invest at least 70% of total assets in a combination of
equity securities domiciled in Canada and Canadian
dollar-denominated fixed income securities and between
61% and 90% of their total assets in equity securities.
19
16
13
10
7
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
Volatility Analysis
16
8
Investment (within category)
Low
Moderate
0
High
-8
Category
Best 1 Year Return
Worst 1 Year Return
25.3%
08-31-1999 to 08-31-2000
-10.1%
09-30-2000 to 09-30-2001
Operations
Series
Description
Fund Code
Gens
Gens
Gens Core
Gens Core
Gens I
Gens I
Gens II
Gens II
Deferred Sales Charge
No Sales or Redemption Charge
Deferred Sales Charge
No Sales or Redemption Charge
Deferred Sales Charge
No Sales or Redemption Charge
Deferred Sales Charge
No Sales or Redemption Charge
CLA191
CLA1191
CLAA191
CLAB191
CLA2191
CLA3191
CLAC191
CLAD191
Telephone
Web Site
Annualized Returns
as of 09-30
Gens
Gens I
Benchmark
-16
It is important to note how a fund's price fluctuates over
time. More volatile investments are those that
experience more exaggerated price increases or
decreases. Generally speaking investors with a shorter
time horizon should avoid higher volatility investments.
However, it is worth noting that some of the risk
associated with highly volatile investments can be offset
through proper portfolio construction.
Gens Inception
Gens Core Inception
Gens I Inception
Gens II Inception
Management Company
Growth of $10,000
Gens
Gens I
Benchmark
11-27-1998
12-03-2007
06-05-2006
12-03-2007
Canada Life Assurance
Company
888 252 1847
www.canadalife.com
YTD
1 Year
3 Year
5 Year
-8.6
-8.6
-7.8
-9.1
-9.2
-9.2
-7.6
-10.6
2.8
2.8
2.8
0.1
7.1
7.1
6.6
5.2
10 Year
Since Fund Inception History
—
—
5.8
4.3
5.7
2.4
5.1
—
Generations
Generations I
Benchmark
Category
24
12
0
-12
Calendar Year Rtns
as of 12-31
Gens
Gens I
Benchmark
-24
1998
1999
2000
2001
2002
2003
2004
2005
2006
—
—
11.9
4.5
15.1
—
13.3
11.4
4.6
—
4.3
6.2
-1.6
—
-3.1
-4.5
-6.1
—
-5.6
-8.4
13.2
—
13.3
12.3
10.1
—
9.1
9.8
13.4
—
11.5
11.1
11.1
—
12.2
8.6
2007
5.2
5.2
3.0
1.3
History
Generations
Generations I
Benchmark
Category
Benchmark Description
30% S&P/TSX Composite Total Return Index:
Measures the market activity of a broad range of senior equities listed on the Toronto Stock Exchange.
25% Morgan Stanley Capital International (MSCI) World Index*:
Includes stocks of companies in all the developed markets around the world.
40% DEX Universe Bond Index:
Comprised of Canadian investment-grade bonds which mature in more than one year.
5% DEX 91-Day Treasury Bill Index:
Comprised of 91-day treasury bills issued by the Canadian government.
Performance Disclaimer
The returns or performance information shown assume that all income and/or realized net gains are retained by the segregated fund in
the periods shown. This results in higher unit values of the segregated fund. Return or performance information does not take into
account any sales, redemption, distribution or other optional charges. Nor does it take into account any income taxes payable that would
have reduced returns or performance.
How a segregated fund has performed in the past does not necessarily reflect how it will perform in the future.
The Generations Core and Generations II series for this segregated fund became available in December 2007. The above performance
data reflects the performance of the Generations series of this segregated fund. The management fee for the Generations Core series of
this segregated fund is equal to or greater than the management fee for the Generations segregated fund, and the actual performance
of the Generations Core series for this period would have been equal to or less than the returns shown above. The management fee for
the Generations II series of this segregated fund is equal to or less than the management fee for the Generations series, and the actual
performance of the Generations II series for this period would have been equal to or greater than the returns shown above.
©2008. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted
to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Segregated fund outlines and financial highlights
Explanation of terms used in the fund outlines
This section provides you with an explanation of some of the terms and assumptions that apply to the information provided about the Funds
on the following pages. You should refer back to this section when reading the Segregated Fund Outlines and Financial Highlights to make
sure you have complete information about a Fund.
Investment Objective
Performance data
This section describes the fundamental investment objective of the
Fund and where applicable, the Underlying Fund.
The past performance of the Fund is shown under the year-by year
returns, overall past performance and annual compound returns
headings.
Investment Strategy
This section describes how the Fund, the Underlying Fund (where
applicable), attempts to achieve its investment objective.
Growth of $10,000
The risks of a Fund and the Underlying Fund (where applicable), are
listed in this section. See Fund Risks section for more information.
The graph shows the growth of a hypothetical $10,000 investment
in the Fund, as compared to a hypothetical $10,000 investment in a
specified index or indices. The benchmark shown in the graph
represents Canada Life’s benchmark index or indices as indicated
on the Fund page.
Financial highlights
Annualized returns
This table shows selected key financial information about the Fund
as at December 31 of the indicated year and are intended to help
you understand the Fund’s financial performance for the years
shown. This information is derived from the Fund’s audited financial
statements. The information shown is for each series of the Fund
and is as follows:
The table shows the historical annual compound total return of the
Fund for the periods indicated, as compared to the performance of
the specified index or indices. A description of the indices used can
be found on each Fund page.
Fund Risks
• the total net assets
• segregated fund turnover rate
• underlying fund turnover rate
• net asset value per unit
• the number of units outstanding
• management fee
• the management expense ratio (MER) (annualized for
units in existence for less than one financial year)
Management Fee
Management Fee refers to the fee that Canada Life charges for the
management and administration of each Fund and the Policy.
Management expense ratio (MER)
MER refers to the total of the Management Fee and operating
expenses (expressed as an annual percentage) paid by the Fund.
Please remember that past performance of the funds is not an
accurate prediction of future returns.
Annual compound returns and overall past performance have been
compared to a relevant broad-based securities index for each Fund.
Each index is provided for comparison purposes only.
Calendar Year returns
The bar chart shows the annual performance of the Fund.
Performance is shown for each of the identified years and
illustrates how the fund’s performance has changed or fluctuated
from year to year. The bar chart shows, in percentage terms, how
much an investment made on January 1 of each year would have
grown or decreased by December 31 of that year, assuming the
investment remained in that Fund for the full year and no additional
transactions occurred.
We are not permitted by regulation to show performance history for
funds less than one year old.
Volatility Analysis
Turnover rate
The Fund’s portfolio turnover rate generally indicates how actively
the portfolio advisor manages the investments. A portfolio turnover
rate of 100% is equivalent to the Fund buying and selling each
security once in the course of the year.
This depicts the percentile rank for the 3 yr standard deviation
within the Morningstar Category compared to the category average
along with a text description of why volatility is important to
consider.
THE CANADA LIFE ASSURANCE COMPANY
Canada Life GenerationsTM
Segregated fund outlines and financial highlights
For the period ending Sept. 30, 2008
The indicated rates of return for 1, 3, 5, 10 years and From Inception
are annual compounded returns for the period ending Sept. 30, 2008,
including changes in unit value and reinvestment of all distributions.
The segregated fund management fee has been deducted. Please note
that unit values and investment returns will fluctuate and past performance
is not necessarily indicative of future performance.
A description of the key features of Canada Life’s individual variable
insurance contract is contained in the information folder, available from
your advisor*.
For more information about Canada Life and its products visit
www.canadalife.com or talk to your advisor.
ANY AMOUNT THAT IS ALLOCATED TO A SEGREGATED FUND IS INVESTED AT THE
RISK OF THE POLICYHOLDER AND MAY INCREASE OR DECREASE IN VALUE.
Helping people achieve moreTM
TM
Canada Life and design, “Helping people achieve more” and Canada Life Generations are trademarks of The Canada Life Assurance Company.
*In Quebec, advisor refers to a financial security advisor for individual insurance and segregated fund policies: and to an advisor in group
insurance/annuity plans for group products.