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RBC has expanded its insurance product line, with the launch of a new universal life offering, along with a new Term 100 product and enhanced Term 10 and Term 20.

The RBC Universal Life policy has preferred rates from age 40 for coverage from $250,000. Additional features include interest options that are linked to 15 individual RBC funds and four RBC managed portfolios, a guaranteed interest bonus with no pre-conditions, a no-bonus option and an embedded disability benefit.

The enhanced Term 10 and Term 20 and new Term 100 will now include term riders on Term 10 and Term 20 insurance policies and the option to bundle Term 10 and Term 20 with the RBC Insurance Critical Illness Recovery Plan policy.

“Advisors who offer the new life insurance portfolio also benefit,” said Cathy Preston, vice-president of life and health at RBC Insurance. “Not only will they feel confident knowing they are providing their clients with a complete range of life insurance solutions, they can take advantage of our newly enhanced compensation rates.”

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Investor Confidence Index drops slightly

Asia is not happy, this according to the latest State Street Investor Confidence Index.

The results of the February report show confidence rising in North America, increasing from 3.3 points from a level of 108.0 in January and in Europe, rising 2.1 points from January’s revised reading of 99.0. In Asia though, confidence was down from 98.1.

Overall, global investor confidence fell 0.7 points to 103.9 from January’s reading of 104.6. The index itself is based on a financial theory that assigns precise meaning to changes in investor risk appetite. The more of their portfolio that institutional investors are willing to devote to equities, the greater their risk appetite or confidence.

“Institutional investors continued to balance a number of competing factors against one another in making their risk allocations this month,” said Harvard University professor Ken Froot, one of the index’s developers. “Developments in Europe occupied much of their attention, as concerns around the long-term solvency of peripheral economies continued to grow. Although the most recent increase in the discount rate by the U.S. Federal Reserve took place after the data for this month’s ICI was collected, institutional investors appear to have anticipated the change, and what it implies for relative investment prospects across the Atlantic.”

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Fidelity: No decision on income trust fund

Fidelity is clearing the air. Despite media reports to the contrary, they have not made any decisions when it comes to their Income Trust Fund.

Although Fidelity is reviewing the objectives and strategies due to the federal government’s new tax on distributions from publicly traded income trusts, they are still weighing their options on how to move forward.

The investment objective of the fund remains to invest primarily in income trusts and other securities that are expected to distribute income.

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Alexandor joins Citi Private Bank

Citi Private Bank is continuing to bolster their wealth management team.

Susanne Alexandor, a former senior portfolio manager, strategist at UBS and economic researcher, institutional asset manager at Deutsche Bank, is joining Citi Private Bank.

“We are excited to welcome Susanne to our growing Canadian franchise and look forward to our ultra high net-worth clients across Canada benefiting from her strong investments experience,” said to Robert McGuire, Canada regional executive for Citi Private Bank.

(02/23/10)