fund facts - empire life | life insurance, …...4 of 17 inv9411019 fund facts empire life...

FUND FACTSEMPIRE LIFE

GUARANTEED INVESTMENT FUNDS 75/75, GUARANTEED INVESTMENT FUNDS 75/100, GUARANTEED INVESTMENT FUNDS 100/100

ADDENDUM

October 15, 2019

This Addendum amends and forms part of the Empire Life Guaranteed Investment Funds 75/75,

Guaranteed Investment Funds 75/100, and Guaranteed Investment Funds 100/100 Fund Facts

booklet as at December 31, 2018.

The changes introduced with this Addendum include:

1. Updating insurance fee related disclosures, including addressing the embedding of the insurance fee

in the management expense ratio (MER).

2. Updating “Fee for Service” Purchase Fee Option references to include “F-Class”.

3. Adding new funds, including new Empire Life Multi-Strategy funds.

The Empire Life Insurance Company 259 King Street East, Kingston, Ontario K7L 3A8 • t. 613 548-1890 • toll-free 1 800 561-1268www.empire.ca

INV-941B-EN-10/19

INV-941B-EN-10/19 1 of 17

Effective October 15, 2019 this Addendum amends and forms part of the Empire Life Guaranteed Investment

Funds 75/75, Guaranteed Investment Funds 75/100, and Guaranteed Investment Funds 100/100 Fund Facts

booklet as at December 31, 2018.

How much does it cost?

On pages 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24, 26, 28, 30, 32, 34, 36, 38, 40, 42, 44, 46, 48, 50, 52 and 54 of the fund facts

for each fund currently being offered:

(A) To update insurance fee wording, sections “2. Ongoing Fund Expenses” and “4. Other Fees” are deleted and replaced

with the following:

2. Ongoing Fund Expenses

The management expense ratio (MER) includes the management fee and operating expenses of the fund. The MER

also includes the insurance fee, a charge to cover the maturity and death benefit guarantees on the Empire Life

Guaranteed Investment Funds 75/75, 75/100 and 100/100 contracts. You do not pay the MER directly. It affects you

because it reduces the return you get on your investment. Refer to the Information Folder for details about the MER

and the insurance fee.

4. Other Fees

Excessive short-term trading is the frequent purchase, switch or withdrawal of fund class units. Empire Life will

deduct up to 2% of the value of units you sell or transfer within 90 days of buying them. This fee is paid to the funds.

(B) To update the name for the Fee for Service Purchase Fee Option, the reference to “Fee for Service (FFS)” in the chart

under the heading “1. Sales Charges” and the reference to “Fee for Service” in section “3. Trailer Commissions” are

deleted and replaced with “F-Class/Fee for Service (F-Class/FFS)”.

Management Expense Ratio (MER)On pages 1, 3, 5, 7, 9, 11, 13, 15, 17, 19, 21, 23, 25, 27, 29, 31, 33, 35, 37, 39, 41, 43, 45, 47, 49, 51 and 53 of the fund facts

for each fund currently being offered, the Management Expense Ratio (MER) set out under “Quick Facts” is qualified by

the following:

The MER is for the period ending December 31, 2018 and does not include the insurance fee. On or around

November 1, 2019 the insurance fee will be incorporated into the MER.

Segregated Funds OfferedThe following segregated funds are added to the Empire Life Guaranteed Investment Funds 75/75, Guaranteed

Investment Funds 75/100 and Guaranteed Investment Funds 100/100 plans. The attached fund facts for these new

funds are incorporated into the Empire Life Guaranteed Investment Funds 75/75, Guaranteed Investment Funds 75/100,

and Guaranteed Investment Funds 100/100 Fund Facts booklet.

1. Empire Life Short Term High Income GIF

2. Empire Life Multi-Strategy Canadian Equity GIF

3. Empire Life Multi-Strategy U.S. Equity GIF

4. Empire Life Global Dividend Growth GIF

5. Empire Life Multi-Strategy Global Equity GIF

6. Empire Life Multi-Strategy Global Conservative Portfolio GIF

7. Empire Life Multi-Strategy Global Balanced Portfolio GIF

8. Empire Life Multi-Strategy Global Moderate Growth Portfolio GIF

EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/75, GUARANTEED INVESTMENT FUNDS 75/100, GUARANTEED INVESTMENT FUNDS 100/100

FUND FACTS ADDENDUM

INV-941B-EN-10/192 of 17

Fund Facts

Empire Life Short Term High Income GIF

As at October 15, 2019

Quick FactsDate Fund Created: October 2019 Managed by: Empire Life Investments Inc. Total Fund Value: - Fund Portfolio Turnover Rate: -

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT

MATURITY/DEATH BENEFIT GUARANTEE (%)

MANAGEMENT EXPENSE RATIO

(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING

K October 2019 $1,000 initial, $50 per fund 75/75 2.20%* $10.00 -

L October 2019 $1,000 initial, $50 per fund 75/100 2.50%* $10.00 -

M October 2019 $1,000 initial, $50 per fund 100/100 2.52%* $10.00 -

U October 2019 $1,000 initial, $50 per fund 75/75 1.71%* $10.00 -

V October 2019 $1,000 initial, $50 per fund 75/100 1.96%* $10.00 -

W October 2019 $1,000 initial, $50 per fund 100/100 2.06%* $10.00 -

*The MER is estimated as the fund is less than 12 months old.

What does the fund invest in?This fund invests primarily in North American short-term fixed income securities including investment grade bonds, high yield bonds, floating rate loans and preferred shares issued by corporations. The fund invests either directly or through one or more secondary funds.

Top 10 investments, total investments and investment segmentation information is not available.

How risky is it?

The value of your investments can go down. Refer to the Information Folder for more information.

low low to moderate

moderate moderate to high

high

Who is this fund for?This fund may be right for a person seeking income and the potential for long term capital growth by investing mostly in

corporate debt and is willing to accept a low level of risk.

How has the fund performed?

Average Return The performance will be reported once the fund has been in existence for more than one year.

Year-by-Year ReturnsThe performance will be reported once the fund has been in existence for more than one year.

Are there any guarantees?This fund is being offered under an individual variable insurance contract. It comes with guarantees that may protect your investment if the markets go down. There is an insurance fee charged for the guarantees. Refer to the Information Folder for details about the guarantees and the insurance fee.

INV-941B-EN-10/19 3 of 17® Registered trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.

How much does it cost?The following table shows the fees and expenses you could pay to buy or sell units of the fund.

1. Sales Charges

PURCHASE FEE OPTION WHAT YOU PAY HOW IT WORKS

No Load (NL) There are no sales charges. • 100% of the funds received by Empire Life will be used to buy units.• Empire Life pays a commission to your advisor.• There are no withdrawal fees.• There are no fees for switches.

Front End Load (FE) Up to 5% of the amount you invest.

• You and your advisor decide on the %.• The Front End Load is deducted from the amount you invest. It is paid as a

commission to your advisor.• There are no withdrawal fees.• You can transfer to other funds without paying any Front End Loads.

Deferred Sales Charge (DSC) If you sell within: % • When you invest, Empire Life pays a commission of up to 5%.

• 100% of your deposit is used to buy units.

• The withdrawal fee is deducted from the amount you sell.

• You can sell up to a certain percentage of your units each year without paying a withdrawal fee.

• You can transfer to other funds without paying a withdrawal fee.

• The withdrawal fee schedule begins on the date you first invest in a fund.

• Any withdrawal fee you pay goes to Empire Life.

1 year of buying 5.5

2 years of buying 5.0






After 7 years 0.0

Low Load (LL) If you sell within: % • When you invest, Empire Life pays a commission of up to 2.5%.1 year of buying 3.0



After 3 years 0.0

F-Class/Fee for Service(F-Class/FFS)

The amount you pay for this Purchase Fee Option will be outlined in the agreement between you and your advisor.

• 100% of the funds received by Empire Life will be used to buy units.• Empire Life pays no commissions or trailer commissions to your advisor.• There are no withdrawal fees.• There are no fees for switches.

2. Ongoing Fund ExpensesThe management expense ratio (MER) includes the management fee and operating expenses of the fund. The MER also includes the insurance fee, a charge to cover the maturity and death benefit guarantees on the Empire Life Guaranteed Investment Funds 75/75, 75/100 and 100/100 contracts. You do not pay the MER directly. It affects you because it reduces the return you get on your investment. Refer to the Information Folder for details about the MER and the insurance fee.

3. Trailer CommissionsEmpire Life pays a trailer commission of up to 1.25% of the value of your investments each year for as long as you hold units of the fund. The trailer commission is for the services and advice your advisor provides to you. There are no trailer commissions payable under the F-Class/Fee for Service Purchase Fee Option.

4. Other FeesExcessive short-term trading is the frequent purchase, switch or withdrawal of fund class units. Empire Life will deduct up to 2% of the value of units you sell or transfer within 90 days of buying them. This fee is paid to the funds.

What if I change my mind?You can change your mind about your investment within two business days of receiving your confirmation notice. You have to tell us in writing that you want to cancel the transaction. We will assume you have received your confirmation notice five business days after it is mailed. The amount returned will be the lesser of the amount you invested or the value of the fund if it has gone down. The amount returned only applies to the specific transaction and will include a refund of any sales charges or other fees you paid.

For more information:This summary may not contain all of the information you need. Please refer to the Information Folder and Contract Provisions for more details.

Contact information:The Empire Life Insurance Company Phone Number: 1 800 561-1268 Web: www.empire.ca

259 King Street East Fax: 1 800 419-4051 Email (English): [email protected]

Kingston, Ontario K7L 3A8 Email (French): [email protected]

INV-941B-EN-10/194 of 17

Fund Facts

Empire Life Multi-Strategy Canadian Equity GIF


Quick FactsDate Fund Created: October 2019 Managed by: The Empire Life Insurance Company Total Fund Value: - Fund Portfolio Turnover Rate: -

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in common stocks of Canadian companies. The fund invests either directly or through one or more secondary funds.


How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in equities and is willing to accept

a low to moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












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Fund Facts

Empire Life Multi-Strategy U.S. Equity GIF



FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in common stocks of U.S. companies. The fund invests either directly or through one or more secondary funds.


How risky is it?

low low to moderate


high


Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in equities and is willing to accept a low to

moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












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Fund Facts

Empire Life Global Dividend Growth GIF

As at December 31, 2018

Quick FactsDate Fund Created: May 2007 Managed by: Empire Life Investments Inc. Total Fund Value: $79.4 Million Fund Portfolio Turnover Rate: 66.39%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING

K October 2019 $1,000 initial, $50 per fund 75/75 2.88%* $10.37 355,359

L October 2019 $1,000 initial, $50 per fund 75/100 3.38%* $11.52 1,216,657

M October 2019 $1,000 initial, $50 per fund 100/100 3.83%* $11.55 541,331

U October 2019 $1,000 initial, $50 per fund 75/75 1.76%* $8.69 1,000

V October 2019 $1,000 initial, $50 per fund 75/100 2.26%* $8.69 1,000

W October 2019 $1,000 initial, $50 per fund 100/100 2.71%* $8.69 1,000

*The MER is estimated as the fund class is less than 12 months old.

What does the fund invest in?This segregated fund primarily invests in dividend paying global mid to large market capitalization stocks. Equity investments include common stocks, preferred stocks, convertible preferred stocks, and convertible debentures.

TOP 10 INVESTMENTS† %

Amazon.com Inc. 2.6

Dollar Tree Inc. 2.4

Tencent Holdings Limited 2.3

International Flavors & Fragrances Inc. 2.3

Fiserv Inc. 2.3

Medtronic PLC 2.3

American Tower Corporation 'A' 2.2

Compass Group PLC 2.2

HDFC Bank Limited ADR 2.2

Sony Corporation 2.2

Total 23.0

Total Investments: 50†Proportion of total fund value

Investment Segmentation (%)

• U.S. Equities 49.4 • International Equities 47.9 • Canadian Equities 1.7• Other Net Assets (Liabilities) 0.5 • Cash and Cash Equivalents 0.5

How risky is it?

low low to moderate


high


Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in global stocks and is willing to accept a low to moderate level of risk.


While this fund has been in existence since May 2007, fund classes K, L, M, U, V and W have been in existence for less than one year. The performance for fund classes K, L, M, U, V and W will be reported once those fund classes have been in existence for more than one year.

The following information shows how fund class A of the fund has performed. However, this doesn’t tell you how the fund will perform in the future. Your actual return will depend on the fund class and on your personal tax situation

Average ReturnA person who invested $1,000 on December 31, 2008 has $2,037 on December 31, 2018. This works out to an average of 7.4% a year.

Year-by-Year ReturnsThis chart shows how the fund has performed in the past.

Are there any guarantees?

This fund is being offered under an individual variable insurance contract. It comes with guarantees that may protect your investment if the markets go down. The MER includes a separate insurance cost for the guarantees. There is an extra fee charged for the 100% Maturity Guarantee Benefit Option. Refer to the Information Folder for details about the guarantees and the MER.

-10%

-3%

4%

11%

18%

25%

2018201720162015201420132012201120102009

-1.7%

15.0%

-0.5% -5.5%

9.4%

26.6%

9.4%13.9%

-3.7%

15.3%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












INV-941B-EN-10/1910 of 17

Fund Facts

Empire Life Multi-Strategy Global Equity GIF



FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in global equity securities. The fund invests either directly or through one or more secondary funds.


How risky is it?

low low to moderate


high


Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in equities and is willing to accept a low to

moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












INV-941B-EN-10/1912 of 17

Fund Facts

Empire Life Multi-Strategy Global Conservative Portfolio GIF



FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in fixed income securities issued by governments and corporations from around the world and global equity securities. The target asset mix of the fund is 70% in fixed income securities and 30% in equity securities. The fund invests either directly or through one or more secondary funds.


How risky is it?

low low to moderate


high


Who is this fund for?This fund may be right for a person seeking long-term capital growth and income through a globally diversified portfolio of equity and fixed income securities and is willing

to accept a low level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












INV-941B-EN-10/1914 of 17

Fund Facts

Empire Life Multi-Strategy Global Balanced Portfolio GIF



FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in global equity securities and fixed income securities issued by governments and corporations from around the world. The target asset mix of the fund is 50% in fixed income securities and 50% in equity securities. The fund invests either directly or through one or more secondary funds.


How risky is it?

low low to moderate


high



to accept a low level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












INV-941B-EN-10/1916 of 17

Fund Facts

Empire Life Multi-Strategy Global Moderate Growth Portfolio GIF



FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in global equity securities and fixed income securities issued by governments and corporations from around the world. The target asset mix of the fund is 30% in fixed income securities and 70% in equity securities. The fund invests either directly or through one or more secondary funds.


How risky is it?

low low to moderate


high



to accept a low to moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0












INV-941B-EN-10/19

The Empire Life Insurance Company (Empire Life) is a proud Canadian company

that has been in business since 1923. We offer individual and group life and health

insurance, investment and retirement products, including mutual funds through our

wholly-owned subsidiary Empire Life Investments Inc.

Empire Life is among the top 10 life insurance companies in Canada1 and is rated A

(Excellent) by A.M. Best Company2. Our mission is to make it simple, fast and easy

for Canadians to build wealth, generate income, and achieve financial security.

Follow us on social media @EmpireLife or visit

www.empire.ca for more information.

1 Based on total assets as reported in December 31, 2018 OSFI filings2 As at June 14, 2019. For the latest rating, access www.ambest.com.

The information in this document is for general information purposes only and is not to be construed as providing legal, tax, financial or professional advice. The Empire Life Insurance Company assumes no responsibility for any reliance made on or misuse or omissions of the information contained in this document. Please seek professional advice before making any decision.

® Registered trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.

Insurance & Investments – Simple. Fast. Easy.®

www.empire.ca [email protected]

INV-941-EN-05/19

FUND FACTS

Any part of the deposit or other amount that is allocated to a segregated fund is invested at the risk of the owner and may increase or decrease in value.


EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/75,

GUARANTEED INVESTMENT FUNDS 75/100, GUARANTEED INVESTMENT FUNDS 100/100

This fund facts booklet, which forms part of the Information Folder, contains individual fund facts

for the segregated funds available under the Empire Life Guaranteed Investment Funds 75/75,

Guaranteed Investment Funds 75/100 and Guaranteed Investment Funds 100/100 plans. You can

choose to invest in one or more of the funds available.

The individual fund facts describe the key features of each segregated fund including its risk level,

past performance, suitability, guarantees, and what fees and charges may apply.

The individual fund facts is not complete without the following description of your rescission rights

and our contact information.

What if I change my mind?You can change your mind about your investment within two business days of receiving your

confirmation notice.

You have to tell us in writing that you want to cancel the transaction. We will assume you have

received your confirmation notice five business days after it is mailed. The amount returned will

be the lesser of the amount you invested or the value of the fund if it has gone down. The amount

returned only applies to the specific transaction and will include a refund of any sales charges or

other fees you paid.

For more informationThis summary may not contain all of the information you need. Please read the Information Folder

and Contract Provisions for more details.

Contact Information

The Empire Life Insurance Company

259 King Street East

Kingston, Ontario K7L 3A8

Phone Number:1 800 561-1268

Fax: 1 800 419-4051

Email: [email protected] (English) or [email protected] (French)

Introduction to Fund Facts Empire Life Guaranteed Investment Funds 75/75 (Fund Classes K and U), Guaranteed Investment Funds 75/100 (Fund Classes L and V) and Guaranteed Investment Funds 100/100 (Fund Classes M and W)

Table of ContentsFund FactsEmpire Life Money Market GIF ...................................................................................................... 1

Empire Life Bond GIF ........................................................................................................................3

Empire Life Strategic Corporate Bond GIF ................................................................................5

Empire Life Income GIF ................................................................................................................... 7

Empire Life Balanced GIF ................................................................................................................9

Empire Life Monthly Income GIF ................................................................................................11

Empire Life Asset Allocation GIF .................................................................................................13

Empire Life Global Asset Allocation GIF ...................................................................................15

Empire Life Dividend Balanced GIF ........................................................................................... 17

Empire Life Canadian Equity GIF ................................................................................................19

Empire Life Dividend Growth GIF ...............................................................................................21

Empire Life Elite Equity GIF .......................................................................................................... 23

Empire Life Small Cap Equity GIF .............................................................................................. 25

Empire Life American Value GIF .................................................................................................27

Empire Life Global Equity GIF ..................................................................................................... 29

Empire Life Global Smaller Companies GIF ...........................................................................31

Empire Life International Equity GIF ......................................................................................... 33

Empire Life Emblem Diversified Income Portfolio GIF .......................................................35

Empire Life Emblem Conservative Portfolio GIF ...................................................................37

Empire Life Emblem Balanced Portfolio GIF ......................................................................... 39

Empire Life Emblem Moderate Growth Portfolio GIF .........................................................41

Empire Life Emblem Growth Portfolio GIF ............................................................................ 43

Empire Life Emblem Aggressive Growth Portfolio GIF ...................................................... 45

Empire Life Emblem Global Conservative Portfolio GIF ...................................................47

Empire Life Emblem Global Balanced Portfolio GIF ..........................................................49

Empire Life Emblem Global Moderate Growth Portfolio GIF .........................................51

Empire Life Emblem Global Aggressive Growth Portfolio GIF .........................................53

INV-941-EN-05/191 of 54

Quick FactsDate Fund Created: February 1989 Managed by: Empire Life Investments Inc. Total Fund Value: $107.2 Million Fund Portfolio Turnover Rate: N/A

FUNDCLASS

FUND CLASSCREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING

K April 2015 $1,000 initial, $50 per fund 75/75 1.14% $10.07 883,076

L November 2014 $1,000 initial, $50 per fund 75/100 1.14% $10.07 1,917,866

M November 2014 $1,000 initial, $50 per fund 100/100 1.11% $10.08 728,398

U May 2018 $1,000 initial, $50 per fund 75/75 0.93%* $10.07 1,000

V May 2018 $1,000 initial, $50 per fund 75/100 0.93%* $10.07 1,000

W May 2018 $1,000 initial, $50 per fund 100/100 0.93%* $10.07 1,000

*The MER is annualized as the fund class is less than 12 months old.

Fund Facts

Empire Life Money Market GIF


What does the fund invest in?This segregated fund primarily invests in short-term securities such as treasury bills and short-term debt issued by governments and Canadian corporations.


Alimentation Couche-Tard Inc. 3.319% Nov 1, 2019 4.7

Canadian Natural Resources Limited 3.050% Jun 19, 2019 4.7

Metropolitan Life Global Funding I 2.682% Apr 16, 2019 4.7

Federation des caisses Desjardins du Quebec 1.752% Jan 2, 2019 4.7

Alectra Inc. 2.171% Jan 3, 2019 4.7

Caterpillar Financial Services Limited 1.947% Jan 3, 2019 4.7

Toronto Hydro Corporation 2.008% Jan 4, 2019 4.7

Ryder Truck Rental Canada Limited 2.259% Jan 9, 2019 4.7

Greater Toronto Airports Authority 2.225% Jan 11, 2019 4.7

TMX Group Limited 2.191% Jan 11, 2019 4.7

Total 47.0



• Short Term 47.5• Canadian Bonds 42.4• Cash and Cash Equivalents 4.8• U.S. Bonds 4.7• Other Net Assets (Liabilities) 0.6

How risky is it?


Who is this fund for?This fund may be right for a person seeking income, wanting to invest mostly in Canadian bonds and is willing to accept a low level of risk.

How has the fund performed?The following information shows how fund class L of the fund has performed. However, this doesn’t tell you how the fund will perform in the future. Your actual return will depend on the fund class and on your personal tax situation.

Average Return A person who invested $1,000 on November 3, 2014 has $1,007 on December 31, 2018. This works out to an average of 0.2% a year.



-5%

0%

5%

10%

2018201720162015

0.7%-0.1%0.1%0.0%

low low to moderate


high

INV-941-EN-05/19® Registered trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company. 2 of 54


1. Sales Charges




















After 7 years 0.0




After 3 years 0.0

Fee for Service (FFS) The amount you pay for this Purchase Fee Option will be outlined in the agreement between you and your advisor.


2. Ongoing Fund ExpensesThe management expense ratio (MER) includes the management fee and operating expenses of the fund. You do not pay the MER directly. It affects you because it reduces the return you get on your investment. Refer to the Information Folder for details about the MER.

3. Trailer CommissionsEmpire Life pays a trailer commission of up to 1.25% of the value of your investments each year for as long as you hold units of the fund. The trailer commission is for the services and advice your advisor provides to you. There are no trailer commissions payable under the Fee for Service Purchase Fee Option.

4. Other Fees

FEE WHAT YOU PAY

Insurance Fee A charge to cover the maturity and death benefit guarantees on the

Empire Life Guaranteed Investment Funds 75/75, 75/100 and 100/100

contracts. The fee is paid out of your contract to Empire Life monthly.

Fund Classes K and U (75/75) - 0.00%

Fund Classes L and V (75/100) - 0.10%

Fund Classes M and W (100/100) - 0.20%

Excessive Trading Fee Up to 2% of the value of units you sell, or transfer within 90 days of buying them. This fee is paid to the funds.






INV-941-EN-05/193 of 54

Fund Facts

Empire Life Bond GIF


Quick FactsDate Fund Created: December 1987 Managed by: Empire Life Investments Inc. Total Fund Value: $612.9 Million Fund Portfolio Turnover Rate: 58.41%

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund primarily invests in government issued bonds as well as bonds, debentures and investment grade notes issued by corporations.


Empire Life Strategic Corporate Bond GIF - Class F 8.6

Canada Housing Trust 1.250% Dec 15, 2020 4.5

Scotiabank Capital Trust Floating Rate 5.650% Dec 31, 2056

2.1

Province of Nova Scotia 4.500% Jun 1, 2037 2.1

Province of Quebec 3.500% Dec 1, 2045 1.9


Province of New Brunswick 3.550% Jun 3, 2043 1.8

Province of Ontario 2.400% Jun 2, 2026 1.7


Newfoundland & Labrador Hydro 3.600% Dec 1, 2045 1.3

Total 27.4



• Canadian Bonds 82.0• Segregated/Mutual Funds 8.6• U.S. Bonds 4.8• Canadian Equities 2.8• International Bonds 0.7• Short Term 0.7• Other Net Assets (Liabilities) 0.4

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking income, wanting to invest mostly in Canadian bonds and is willing to accept a low level of risk.





-10%

-5%

0%

5%

10%

2018201720162015

-1.5%1.4%1.1%1.7%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/195 of 54

Fund Facts

Empire Life Strategic Corporate Bond GIF



FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING

K May 2018 $1,000 initial, $50 per fund 75/75 2.10%* $9.82 443,375

L May 2018 $1,000 initial, $50 per fund 75/100 2.15%* $9.82 531,708

M May 2018 $1,000 initial, $50 per fund 100/100 2.07%* $9.82 125,454




*The MER is annualized as the fund is less than 12 months old.

What does the fund invest in?This fund invests primarily in North American fixed income securities such as high yield bonds and floating rate loans issued by corporations.


Royal Bank of Canada 1.700% Jan 2, 2019 6.5

Aimia Inc. 6.850% May 17, 2019 4.5

Caterpillar Financial Services Limited 1.947% Jan 3, 2019 4.1

Element Fleet Management Corporation 5.125% Jun 30, 2019 4.0

Source Energy Services Canada Limited partnership / Source Energy Services 10.500% Dec 15, 2021

2.7

Invesco Senior Loan ETF 2.7

Mattamy Group Corporation 6.500% Oct 1, 2025 2.3

Live Nation Entertainment Inc. 5.625% Mar 15, 2026 2.3

CCO Holdings LLC / CCO Holdings Capital Corporation 5.125% May 1, 2023

2.3

CSC Holdings LLC 10.875% Oct 15, 2025 2.3

Total 33.7



• U.S. Bonds 42.5• Canadian Bonds 40.2• Short Term 10.6• U.S. Equities 4.8• Canadian Equities 1.5• Other Net Assets (Liabilities) 0.4

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking income and the potential for long term capital growth by investing mostly in corporate debt and is willing to accept a low to moderate

level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/197 of 54

Who is this fund for?This fund may be right for a person seeking growth and income, wanting to invest mostly in Canadian stocks and bonds and is willing to accept a low level of risk.





-10%

-5%

0%

5%

10%

2018201720162015

0.4%3.9% 3.4%

-4.2%

Quick FactsDate Fund Created: January 2002 Managed by: Empire Life Investments Inc. Total Fund Value: $381.8 Million Fund Portfolio Turnover Rate: 40.06%

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








Fund Facts

Empire Life Income GIF


What does the fund invest in?This segregated fund primarily invests in investment grade bonds, debentures and notes issued by corporations and the Government of Canada, Canadian provinces, territories and municipalities and foreign governments. The fund invests directly and in units of other Empire Life segregated funds.


Empire Life American Value Fund - Class F 10.9




Royal Bank of Canada 1.3

Scotiabank Capital Trust Floating Rate 5.650% Dec 31, 2056 1.3

Bank of Nova Scotia 1.3

Toronto-Dominion Bank 1.1



Total 28.8



• Canadian Bonds 50.5• Canadian Equities 19.4• Segregated/Mutual Funds 16.6• International Equities 5.4• Short Term 4.3• U.S. Bonds 2.9• International Bonds 0.4• Other Net Assets (Liabilities) 0.4• U.S. Equities 0.1

How risky is it?


low low to moderate


high



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/199 of 54

Quick FactsDate Fund Created: February 1989 Managed by: Empire Life Investments Inc. Total Fund Value: $482.6 Million Fund Portfolio Turnover Rate: 30.37%

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT

MATURITY/DEATH BENEFIT

GUARANTEE


(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








Fund Facts

Empire Life Balanced GIF


What does the fund invest in?This segregated fund primarily invests in a diversified mix of primarily Canadian equity and fixed income securities. The fund invests directly and in units of other Empire Life segregated funds.








Government of Canada 0.750% Sep 1, 2020 1.7

Bank of Montreal 1.4

Toromont Industries Limited 1.3

Shaw Communications Inc. 'B' 1.2

Total 31.5



• Canadian Bonds 42.0• Canadian Equities 28.4• Segregated/Mutual Funds 15.4• International Equities 7.2• Short Term 3.9• U.S. Bonds 2.2• Other Net Assets (Liabilities) 0.4• International Bonds 0.3• U.S. Equities 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth and income, wanting to invest mostly in Canadian stocks and bonds and is willing to accept a low level of risk.




-10%

-5%

0%

5%

10%

2018201720162015

0.5%

4.9% 4.0%

-5.2%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1911 of 54

Quick FactsDate Fund Created: April 2015 Managed by: Empire Life Investments Inc. Total Fund Value: $15.6 Million Fund Portfolio Turnover Rate: 27.53%

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING


L April 2015 $1,000 initial, $50 per fund 75/100 2.33% $10.09 597,032

M April 2015 $1,000 initial, $50 per fund 100/100 2.29% $10.10 157,624





Fund Facts

Empire Life Monthly Income GIF


What does the fund invest in?This segregated fund invests primarily in a balance of income oriented Canadian equity and fixed income securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Monthly Income mutual fund.

TOP 10 INVESTMENTS OF THE SECONDARY FUND† %





OMERS Finance Trust 2.158% Jan 18, 2019 1.8

BCE Inc. 1.6


SPDR Gold Shares 1.4


Sumitomo Mitsui Financial Group Inc. 1.2

Total 24.3

Total Investments: 191†Proportion of total secondary fund value

Investment Segmentation for the secondary fund (%)

• Equities 49.4• Fixed Income 43.0• Short Term 7.2• Other Net Assets (Liabilities) 0.3• Cash and Cash Equivalents 0.1

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth and income with reduced volatility through investments in both equity and fixed income securities and is willing to accept a low to moderate level of risk.


Average Return A person who invested $1,000 on April 20, 2015 has $1,009 on December 31, 2018. This works out to an average of 0.3% a year.



-10%

-5%

0%

5%

10%

201820172016

6.7%

-6.2%

4.3%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1913 of 54

Quick FactsDate Fund Created: May 1994 Managed by: Empire Life Investments Inc. Total Fund Value: $1,142.0 Million Fund Portfolio Turnover Rate: 52.07%

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING

K April 2015 $1,000 initial, $50 per fund 75/75 2.46% $10.33 3,928,068


M November 2014 $1,000 initial, $50 per fund 100/100 2.44% $11.27 4,194,353





Fund Facts

Empire Life Asset Allocation GIF


What does the fund invest in?This segregated fund primarily invests in a diversified mix of Canadian equity and fixed income securities.



Canadian Imperial Bank of Commerce 1.9

Brookfield Asset Management Inc. 'A' 1.8


Government of Canada 1.648% Jan 10, 2019 1.8

Firstbank 2.173% Jan 9, 2019 1.8

Municipal Finance Authority of British Columbia 1.898% Jan 16, 2019

1.7

Canadian Treasury Bill 1.740% Feb 7, 2019 1.7


Whitbread PLC 1.7

Total 18.0



• Canadian Equities 37.7• Canadian Bonds 19.6• U.S. Equities 16.4• Short Term 13.3• International Equities 11.7• U.S. Bonds 0.9• Other Net Assets (Liabilities) 0.3• International Bonds 0.1

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth and income, wanting to invest mostly in Canadian stocks and bonds and is willing to accept a low to moderate level of risk.




-10%

-5%

0%

5%

10%

2018201720162015

8.0%

2.9%-7.4%

6.1%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1915 of 54


FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING


L May 2018 $1,000 initial, $50 per fund 75/100 2.59%* $9.48 1,100,916






Fund Facts

Empire Life Global Asset Allocation GIF


What does the fund invest in?This fund invests primarily in a diversified mix of global equity and North American fixed income securities. The fund invests directly and in units of other Empire Life segregated funds.




Amazon.com Inc. 1.6




Constellation Brands Inc. 'A' 1.2


Fiserv Inc. 1.2

First Republic Bank 1.2

Total 55.0



• Segregated/Mutual Funds 27.2• U.S. Equities 27.2• International Equities 26.2• Short Term 17.5• Canadian Equities 0.9• Other Net Assets (Liabilities) 0.9• Cash and Cash Equivalents 0.1

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth and income, wanting to invest mostly in global stocks and corporate debt and is willing to accept a low to moderate

level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0




The management expense ratio (MER) includes the management fee and operating expenses of the fund. You do not pay the MER directly. It affects you because it reduces the return you get on your investment. Refer to the Information Folder for details about the MER.


4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1917 of 54

Fund Facts

Empire Life Dividend Balanced GIF


Quick FactsDate Fund Created: July 2010 Managed by: Empire Life Investments Inc. Total Fund Value: $612.0 Million Fund Portfolio Turnover Rate: 4.20%

FUNDCLASS

FUND CLASSCREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund primarily invests in units of other Empire Life segregated funds. The target asset mix of the fund is 80% Dividend Growth Fund and 20% Bond Fund.

TOP INVESTMENTS† %

Empire Life Dividend Growth Fund - Class F 79.6




DowDuPont Inc. 3.7



Saputo Inc. 3.2

Parkland Fuel Corporation 3.1

Alimentation Couche-Tard Inc. 'B' 3.0

Keyera Corporation 3.0

Empire Life Bond Fund - Class F 19.4


Total 99.9



• Segregated/Mutual Funds 99.0• Short Term 0.9• Other Net Assets (Liabilities) 0.1

How risky is it?


.

low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth and income, wanting to invest mostly in Canadian stocks and bonds and is willing to accept a low to moderate level of risk.


Average ReturnA person who invested $1,000 on November 3, 2014 has $1,032 on December 31, 2018. This works out to an average of 0.8% a year.



13.5%

-15%-10%

-5%0%5%

10%15%

2018201720162015

-1.7% -12.4%5.0%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1919 of 54

Fund Facts

Empire Life Canadian Equity GIF


Quick FactsDate Fund Created: October 2005 Managed by: Empire Life Investments Inc. Total Fund Value: $239.3 Million Fund Portfolio Turnover Rate: 37.37%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING







* The MER is annualized as the fund class is less than 12 months old.

What does the fund invest in?This segregated fund primarily invests in Canadian mid to large market capitalization stocks.









Saputo Inc. 3.2

DowDuPont Inc. 3.2

Intact Financial Corporation 3.1

Total 40.6



• Canadian Equities 88.9• U.S. Equities 4.9• International Equities 3.2• Short Term 2.8• Other Net Assets (Liabilities) 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in Canadian stocks and is willing to accept a low to moderate level of risk.


Average returns A person who invested $1,000 on November 3, 2014 has $1,057 on December 31, 2018. This works out to an average of 1.3% a year.


-20%

-10%

0%

10%

20%

2018201720162015

-1.1%

15.2%

-14.6%5.5%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1921 of 54

Quick FactsDate Fund Created: January 1998 Managed by: Empire Life Investments Inc. Total Fund Value: $1,394.8 Million Fund Portfolio Turnover Rate: 38.72%

FUNDCLASS

FUND CLASS CREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








Fund Facts

Empire Life Dividend Growth GIF


What does the fund invest in?This segregated fund primarily invests in dividend paying Canadian mid to large market capitalization stocks. Equity investments include common stocks, preferred stocks, convertible preferred stocks and convertible debentures.





DowDuPont Inc. 3.7



Saputo Inc. 3.2

Parkland Fuel Corporation 3.1


Keyera Corporation 3.0

Total 39.2



• Canadian Equities 72.7• U.S. Equities 12.0• International. Equities 10.8• Short Term 3.6• Cash and Cash Equivalents 0.6• Other Net Assets (Liabilities) 0.3

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest in Canadian stocks and is willing to accept a low to moderate level of risk.




-20%

-10%

0%

10%

20%

2018201720162015

-2.3%

16.6%

-15.2%5.8%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1923 of 54

Fund Facts

Empire Life Elite Equity GIF


Quick FactsDate Fund Created: December 1969 Managed by: Empire Life Investments Inc. Total Fund Value: $924.8 Million Fund Portfolio Turnover Rate: 25.42%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund primarily invests in Canadian large market capitalization stocks, with some exposure to foreign securities. The fund invests directly and in units of other Empire Life segregated funds.












Total 51.0



• Canadian Equities 49.6• Segregated/Mutual Funds 28.6• International Equities 13.6• Short Term 7.7• U.S. Equities 0.3• Other Net Assets (Liabilities) 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in Canadian stocks and is willing to accept a low to moderate level of risk.




-20%

-10%

0%

10%

20%

2018201720162015

3.8%

10.2%

-7.9%6.2%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1925 of 54


FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING


L November 2014 $1,000 initial, $50 per fund 75/100 2.61% $9.34 841,556






Fund Facts

Empire Life Small Cap Equity GIF


What does the fund invest in?This segregated fund primarily invests in Canadian small to mid market capitalization stocks.



People Corporation 3.4

TORC Oil & Gas Limited 2.7

Cineplex Inc. 2.6

The Westaim Corporation 2.5

Cott Corporation 2.5

K-Bro Linen Inc. 2.4

Enerplus Corporation 2.4

CES Energy Solutions Corporation 2.2

StorageVault Canada Inc. 2.2

Total 30.6



• Canadian Equities 85.6• Short Term 7.7• U.S. Equities 4.7• International Equities 2.5• Other Net Assets (Liabilities) -0.5

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in Canadian stocks of smaller companies and is willing to accept a moderate level of risk.


Average ReturnA person who invested $1,000 on November 3, 2014 has $932 on December 31, 2018. This works out to an average of -1.7% a year.


-25%

-16%

-7%

2%

11%

20%

2018201720162015

-1.0%

14.5%

-23.1%6.6%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1927 of 54

Fund Facts

Empire Life American Value GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund primarily invests in U.S. mid to large market capitalization stocks.


Microsoft Corporation 3.3

Celgene Corporation 3.2

Anthem Inc. 3.2

Apple Inc. 3.2

Alphabet Inc. 'C' 3.0

Johnson & Johnson 3.0

Chubb Limited 2.7

Comcast Corporation 'A' 2.7

Visa Inc. 'A' 2.7

STORE Capital Corporation 2.7

Total 29.7



• U.S. Equities 91.3• International Equities 5.3• Short Term 3.4• Cash and Cash Equivalents 0.1• Other Net Assets (Liabilities) -0.1

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in U.S. stocks and is willing to accept a low to moderate level of risk.




0%

10%

20%

2018201720162015

13.3%

6.1%9.9%

0.6%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1929 of 54

Quick FactsDate Fund Created: February 1989 Managed by: Empire Life Investments Inc. Total Fund Value: $138.7 Million Fund Portfolio Turnover Rate: 60.10%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








Fund Facts

Empire Life Global Equity GIF


What does the fund invest in?This segregated fund primarily invests in developed markets such as North America, Europe and Asia, but may also invest in emerging markets.


Amazon.com Inc. 2.6






Fiserv Inc. 2.2

MSCI Inc. 'A' 2.2

American Tower Corporation 'A' 2.2

Digital Realty Trust Inc. 2.1

Total 22.6



• U.S. Equities 49.0• International Equities 47.3• Canadian Equities 1.7• Short Term 1.3• Other Net Assets (Liabilities) 0.4• Cash and Cash Equivalents 0.3

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in global stocks and is willing to accept a moderate level of risk.




-5%

0%

5%

10%

15%

20%

2018201720162015

12.5%

-1.5% -1.8%

15.5%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1931 of 54

Quick FactsDate Fund Created: October 2005 Managed by: Empire Life Investments Inc. Total Fund Value: $25.8 Million Fund Portfolio Turnover Rate: 52.91%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING

K May 2018 $1,000 initial, $50 per fund 75/75 2.65% $9.04 67,392

L May 2018 $1,000 initial, $50 per fund 75/100 2.61% $9.04 261,516

M May 2018 $1,000 initial, $50 per fund 100/100 2.62% $9.04 44,517





Fund Facts

Empire Life Global Smaller Companies GIF


What does the fund invest in?This segregated fund primarily invests in small to mid market capitalization stocks in developed markets such as North America, Europe, and Asia, but may also invest in emerging markets.



Church & Dwight Company Inc. 2.7

MSCI Inc. 'A' 2.7

Techtronic Industries Company Limited 2.6

Jack Henry & Associates Inc. 2.4


Allegion PLC 2.4

American Water Works Company Inc. 2.3

CDW Corporation 2.3

Bunzl PLC 2.2

Total 25.5

Total Investments: 49 †Proportion of total fund value


• International Equities 57.1• U.S. Equities 37.0• Short Term 3.5• Canadian Equities 1.6• Other Net Assets (Liabilities) 0.5• Cash and Cash Equivalents 0.3

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in global stocks of smaller companies and is willing to accept a moderate level of risk.


While this fund has been in existence since October 2005, fund classes K, L, M, U, V and W have been in existence for less than one year. The performance for fund classes K, L, M, U, V and W will be reported once those fund classes have been in existence for more than one year.

The following information shows how fund class A of the fund has performed. However, this doesn’t tell you how the fund will perform in the future. Your actual return will depend on the fund class and on your personal tax situation.

Average Return A person who invested $1,000 on December 31, 2008 has $2,160 on December 31, 2018. This works out to an average of 8.0% a year.



-40%

-20%

0%

20%

40%

2018201720162015201420132012201120102009

16.2% 13.6%-19.8% 2.5%

11.2%13.0%

27.7%

5.8%

24.8%

-6.1%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1933 of 54

Quick FactsDate Fund Created: June 2003 Managed by: Empire Life Investments Inc. Total Fund Value: $127.8 Million Fund Portfolio Turnover Rate: 58.99%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








Fund Facts

Empire Life International Equity GIF


What does the fund invest in?This segregated fund primarily invests in developed markets such as Europe and Asia, but may also invest in North America and in emerging markets.


Suzuki Motor Corporation 2.5

Compass Group PLC 2.5

Amazon.com Inc. 2.5

CSL Limited 2.4

Deutsche Wohnen SE 2.3

Nippon Telegraph & Telephone Corporation 2.3




Kerry Group PLC 2.2

Total 23.3



• International Equities 96.2• U.S. Equities 2.5• Short Term 0.7• Other Net Assets (Liabilities) 0.6

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking growth, wanting to invest mostly in global stocks and is willing to accept a moderate level of risk.




-10%

-4%

2%

8%

14%

20%

2018201720162015

16.4%

-8.5%

18.2%

-8.8%




1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1935 of 54

Fund Facts

Empire Life Emblem Diversified Income Portfolio GIF


Quick FactsDate Fund Created: November 2014 Managed by: Empire Life Investments Inc. Total Fund Value: $40.5 Million Fund Portfolio Turnover Rate: 13.23%

FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests in a mix of fixed income and equity securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Emblem Diversified Income Portfolio mutual fund.




Ryder Truck Rental Canada Limited 2.259% Jan 9, 2019 2.1

Scotiabank Capital Trust 5.650% Dec 31, 2056 1.7


Bank of Montreal 1.610% Oct 28, 2021 1.2




Enbridge Pipelines Inc. 2.416% Jan 25, 2019 1.1

Total 18.3



• Fixed Income 68.2• Equities 23.0• Short Term 7.4• Other Net Assets (Liabilities) 1.2• Cash and Cash Equivalents 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking current income and some long-term capital growth with reduced volatility through a diversified portfolio of fixed income and equity securities and is willing to accept a low level of risk.





-10%

-6%

-2%

2%

6%

10%

2018201720162015

1.9% 1.7% 2.6%-3.6%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1937 of 54

Fund Facts

Empire Life Emblem Conservative Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests in a mix of Canadian fixed income and equity securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Emblem Conservative Portfolio mutual fund.





Government of Canada 0.750% Sep 1, 2021 1.3



Scotiabank Capital Trust 5.650% Dec 31, 2056 1.2


DowDuPont Inc. 1.0

Province of Manitoba 3.400% Sep 5, 2048 1.0

Total 18.0



• Fixed Income 55.8• Equities 37.0• Short Term 5.7• Other Net Assets (Liabilities) 1.3• Cash and Cash Equivalents 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with income with reduced volatility through a diversified portfolio of fixed income and equity securities and is willing to accept a low level of risk.





-10%

-5%

0%

5%

10%

2018201720162015

1.4% 2.3% -5.5%3.3%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1939 of 54

Fund Facts

Empire Life Emblem Balanced Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests in a mix of Canadian fixed income and equity securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Emblem Balanced Portfolio mutual fund.







Province of Ontario 1.929% Apr 10, 2019 1.4

DowDuPont Inc. 1.3




Total 20.3



• Equities 50.6• Fixed Income 40.8 • Short Term 7.7• Other Net Assets (Liabilities) 0.7• Cash and Cash Equivalents 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with reduced volatility through a diversified portfolio of equity and fixed income securities and is willing to accept a low level of risk.


The following information shows how fund class L of the fund has performed. However, this doesn’t tell you how the fund will perform in the future. Your actual return will depend on the fund class and on your personal tax situation.




-10%

-5%

0%

5%

10%

2018201720162015

4.1%1.9%

-7.4%

4.3%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1941 of 54

Fund Facts

Empire Life Emblem Moderate Growth Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests in a mix of Canadian equity and fixed income securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Emblem Moderate Growth Portfolio mutual fund.







DowDuPont Inc. 1.7





Total 21.3




How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with reduced volatility through a diversified portfolio of equity and fixed income securities and is willing to accept a low to moderate level of risk.






-10%

-5%

0%

5%

10%

2018201720162015

1.9%

6.8%4.9%

-9.3%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1943 of 54

Fund Facts

Empire Life Emblem Growth Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUMINVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests in a mix of Canadian equity and fixed income securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Emblem Growth Portfolio mutual fund.






DowDuPont Inc. 2.2




Saputo Inc. 1.9


Total 24.1




How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with reduced volatility through a diversified portfolio of equity and fixed income securities and is willing to accept a low to moderate level of risk.






-15%-10%-5%0%5%

10%15%

2018201720162015

5.6%-11.5%2.1%

9.5%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1945 of 54

Fund Facts

Empire Life Emblem Aggressive Growth Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This segregated fund invests primarily in Canadian equity securities. The fund invests either directly or through one or more secondary funds. The fund currently invests most of its assets in units of the Empire Life Emblem Aggressive Growth Portfolio mutual fund.






DowDuPont Inc. 2.4




Saputo Inc. 2.0


Total 25.8



• Equities 92.7• Short Term 6.5• Other Net Assets (Liabilities) 0.6• Cash and Cash Equivalents 0.2

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with reduced volatility through a diversified portfolio of equity securities and is willing to accept a low to moderate level of risk.






-15%-10%-5%0%5%

10%15%

2018201720162015

1.6%

11.3%6.4%

-12.0%



1. Sales Charges




















After 7 years 0.0




After 3 years 0.0





4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1947 of 54

Fund Facts

Empire Life Emblem Global Conservative Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This fund invests primarily in a mix of North American fixed income and global equity securities.


US Treasury Notes 2.500% Jun 30, 2020 10.2


Government of Canada 2.000% Jun 1, 2028 4.2

Canada Housing Trust 2.350% Mar 15, 2028 3.7



Canada Housing Trust 2.350% Jun 15, 2027 2.0

Aimia Inc. 6.850% May 17, 2019 1.7


Province of Alberta 3.500% Jun 1, 2031 1.4

Total 38.7



• Canadian Bonds 36.3• U.S. Bonds 24.1• International Equities 13.1• U.S. Equities 13.1• Short Term 8.6• Canadian Equities 2.8• Other Net Assets (Liabilities) 1.5• Cash and Cash Equivalents 0.5

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with income and reduced volatility through a globally diversified portfolio of fixed income and equity securities and

is willing to accept a low level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0






4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1949 of 54

Fund Facts

Empire Life Emblem Global Balanced Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This fund invests primarily in a mix of global equity and North American fixed income securities.








Canada Housing Trust 2.350% Jun 15, 2027 1.3

Aimia Inc. 6.850% May 17, 2019 1.0


Amazon.com Inc. 0.8

Total 36.9



• Canadian Bonds 23.4• International Equities 21.9• U.S. Bonds 20.9• U.S. Equities 20.2• Short Term 7.1• Canadian Equities 3.8• Other Net Assets (Liabilities) 1.6• Cash and Cash Equivalents 1.1

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with income and reduced volatility through a globally diversified portfolio of equity and fixed income securities and

is willing to accept a low to moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0






4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1951 of 54

Fund Facts

Empire Life Emblem Global Moderate Growth Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This fund invests primarily in a mix of global equity and North American fixed income securities.







Amazon.com Inc. 1.1



Anthem Inc. 0.8

Apple Inc. 0.8

Total 30.0



• International Equities 29.8• U.S. Equities 26.7• Canadian Bonds 12.8• U.S. Bonds 12.2• Short Term 10.6• Canadian Equities 4.7• Other Net Assets (Liabilities) 2.5• Cash and Cash Equivalents 0.7

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with income and reduced volatility through a globally diversified portfolio of equity and fixed income securities and

is willing to accept a low to moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0






4. Other Fees

FEE WHAT YOU PAY













INV-941-EN-05/1953 of 54

Fund Facts

Empire Life Emblem Global Aggressive Growth Portfolio GIF



FUNDCLASS

FUND CLASSCREATED

MINIMUM INVESTMENT



(MER)

NET ASSET VALUE

PER UNITUNITS

OUTSTANDING








What does the fund invest in?This fund invests primarily in global equity securities.


Amazon.com Inc. 1.7


Anthem Inc. 1.2

Apple Inc. 1.2

Celgene Corporation 1.2

Johnson & Johnson 1.1

Alphabet Inc. 'C' 1.1

Nabtesco Corporation 1.1

Orpea 1.1

Kerry Group PLC 1.1

Total 12.1



• International Equities 46.3• U.S. Equities 40.4• Canadian Equities 8.8• Cash and Cash Equivalents 4.2• Other Net Assets (Liabilities) 0.3

How risky is it?


low low to moderate


high

Who is this fund for?This fund may be right for a person seeking long-term capital growth with reduced volatility through a globally diversified portfolio of equity securities and is willing to

accept a low to moderate level of risk.







1. Sales Charges




















After 7 years 0.0




After 3 years 0.0






4. Other Fees

FEE WHAT YOU PAY













Insurance & Investments – Simple. Fast. Easy.®

www.empire.ca [email protected]

INV-941-EN-05/19

The Empire Life Insurance Company (Empire Life) is a proud Canadian company

that has been in business since 1923. We offer individual and group life and health

insurance, investment and retirement products, including mutual funds through

our wholly-owned subsidiary Empire Life Investments Inc.

Empire Life is among the top 10 life insurance companies in Canada1 and is rated A

(Excellent) by A.M. Best Company2. Our mission is to make it simple, fast and easy

for Canadians to get the investment, insurance and group benefits coverage they

need to build wealth, generate income, and achieve financial security.

Follow Empire Life on Twitter @EmpireLife or visit our website, www.empire.ca

for more information.

1 Globe and Mail Report on Business, June 2018, based on revenue2 As at June 7, 2018. For the latest rating, access www.ambest.com.

The information in this document is for general information purposes only and is not to be construed as providing legal, tax, financial or professional advice. The Empire Life Insurance Company assumes no responsibility for any reliance made on or misuse or omissions of the information contained in this document. Please seek professional advice before making any decision.® Registered trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.

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