Which of the following is NOT a feature of segregated funds?

Segregated funds are investment products offered by insurance companies that blend features of mutual funds with certain insurance characteristics. One of the key aspects of segregated funds is the provision of death benefits, which ensure that upon the policyholder's death, the beneficiary receives either the value of the fund or a guaranteed minimum amount, depending on the specific terms of the contract.

Additionally, segregated funds typically include guaranteed maturity values, ensuring that at the end of a specified term, the investor will receive at least a predetermined return, even if the market value of the fund has declined.

Furthermore, there are income tax advantages associated with segregated funds. For instance, they often allow for tax-deferred growth of investment earnings until withdrawals are made, similar to other registered investment options.

Market volatility benefits, however, do not inherently characterize segregated funds. While segregated funds can provide some degree of protection against market downturns through guarantees, they do not specifically offer 'market volatility benefits' as a standard feature. Instead, the guarantees associated with segregated funds are more focused on capital preservation and ensuring a minimum return, rather than addressing volatility itself in the context of investment performance.

Thus, the concept that segregated funds provide specific benefits aimed solely at countering market