Empire Life Investments announces Portfolio Manager Changes

Empire Life Investments announces Portfolio Manager Changes
We are making the following changes to the management of our funds effective November 1, 2016.

Lieh Wang, CFA Senior Portfolio Manager, will become the lead manager on the Empire Life Elite Equity GIF. Lieh has more than 20 years of investment expertise, and extensive knowledge of our Canadian portfolios, having managed some of our Canadian equity portfolios since 2009 before taking on U.S. Equities in December 2015. The Canadian equity component of the Empire Life Elite Equity GIF will be managed by Ian Hardacre.

Ian Hardacre, MBA, CFA, Senior Portfolio Manager, Canadian Equities, will become the lead manager on the Empire Life Canadian Equity GIF and the Empire Life Canadian Equity Mutual Fund. Ian brings more than 20 years of portfolio management expertise to the team, and most recently was VicePresident and Head of Canadian equities at a large mutual fund company.

The Empire Life Asset Allocation GIF will be co-managed by Lieh Wang and Ian Hardacre. The Empire Life Investments fixed income team will continue to manage the fixed income portion of the fund.

Nessim Mansoor, Senior Portfolio Manager, is leaving Empire Life Investments Inc. to pursue other opportunities. I want to thank Nessim for his contributions to Empire Life Investments.

We are confident this transition will be smooth with no disruption to day-to-day operations. The team will continue to use a conservative, value-oriented and disciplined investment style with an emphasis on downside protection to help preserve and build wealth for your clients. We look forward to informing you of our selection of a new Chief Investment Officer once a decision has been made. Please contact your Empire Life sales team if you have any questions.

Sincerely,

Mark Sylvia
President & CEO
Empire Life Investments Inc.