We are pleased to announce an increase to the credited rate for the Smoothed Return Diversified Account (SRDA), which will increase to 3.55% on January 1, 2024 for Genesis 9 universal life insurance policies.
| SRDA Credited Rate | |
| 2023 | 2024 |
| 3.15% | 3.55% |
The credited rate is based on the declared rate of the Smoothed Return Diversified Fund, which increases by 40 bps to 4.80%, less a management fee of 1.25%.
The Fund’s declared rate is based on the organization's long-term return expectations as well as the returns of the Fund's assets to which the organization applies a smoothing formula. This formula spreads out the main fluctuations in returns (both positive and negative) and provides a low-volatility credited rate from year to year.
The Smoothed Return Diversified Fund document (F13-1166A) will be updated and published in March 2024 to include the Fund’s returns as of December 31, 2023, and the asset mix of the fund as at that date.
About the SRDA
The SRDA is offered as an actively managed investment account with Genesis Universal Life. This account provides an opportunity for clients seeking professional investment management of their policy funds while minimizing the return volatility typically associated with market investments. To learn more about these and other product features, visit the Document Centre in your Advisor Centre.
