TORONTO, Feb. 19, 2020 /CNW/ - Sun Life Global Investments (Canada) Inc. ("Sun Life Global Investments") today announced changes to select mutual funds with the aim to streamline and enhance Sun Life Global Investments' product offerings. These proposed changes include fund mergers, investment objective changes, and a fund name change.
Fund mergers
Effective on or about June 5, 2020, select Sun Life Global Investment funds (collectively, the "Terminating Funds") will each merge into a Sun Life Global Investment fund (collectively, the "Continuing Funds"), subject to required securityholder and regulatory approvals. The securityholder votes are scheduled to take place on or about May 8, 2020. All costs and expenses associated with the mergers will be borne by Sun Life Global Investments.
The proposed fund mergers are outlined in the table below:
Terminating Fund |
Continuing Fund |
Sun Life Sentry Value Fund Sun Life Sentry Value Class Sun Life Franklin Bissett Canadian Equity Class Sun Life Invesco Canadian Class Sun Life MFS Canadian Equity Growth Class |
Sun Life MFS Canadian Equity Growth Fund |
Sun Life BlackRock Canadian Composite Equity Sun Life BlackRock Canadian Equity Class |
Sun Life BlackRock Canadian Equity Fund |
Sun Life Dynamic Energy Fund Sun Life Dynamic Equity Income Class |
Sun Life Dynamic Equity Income Fund |
Sun Life BlackRock Canadian Balanced Fund Sun Life BlackRock Canadian Balanced Class |
Sun Life Tactical Balanced ETF Portfolio |
Sun Life Dynamic American Fund |
Sun Life MFS U.S. Growth Fund |
Sun Life Excel Emerging Markets Balanced Fund |
Sun Life MFS Global Total Return Fund |
Sun Life MFS Monthly Income Fund |
Sun Life Granite Income Portfolio |
Sun Life Templeton Global Bond Fund |
Sun Life Tactical Fixed Income ETF Portfolio |
Sun Life Excel China Fund |
Sun Life Excel Emerging Markets Fund |
Sun Life Dynamic Strategic Yield Class |
Sun Life Dynamic Strategic Yield Fund |
Sun Life MFS Dividend Income Class |
Sun Life MFS Dividend Income Fund |
In anticipation of these mergers, terminating funds will be closed to new accounts, effective 4:01 p.m. EST, February 26, 2020.
Investment objective changes
Effective June 5, 2020, the investment objectives will change for the following funds, pending securityholder approval:
- Sun Life Excel India Fund;
- Sun Life Excel India Balanced Fund; and
- Sun Life Excel New India Leaders Fund.
The securityholder vote is scheduled to take place on or about May 8, 2020. The intent of the changes are to remove references to fund structure and focus solely on the investment objectives of the fund.
Fund name change
Effective February 26, 2020, Sun Life MFS Canadian Equity Growth Fund will be renamed to Sun Life MFS Canadian Equity Fund to better align the name of the fund with its investment objective and strategies. The mandate of the Fund will not change.
More information
Prior to securityholder meetings for the fund mergers and the change to the investment objectives described above, the full details of each change will be set out in a management information circular (the "Circular"). This Circular will be made available to securityholders and will also be available on the System for Electronic Document Analysis and Retrieval (SEDAR) profile for the relevant funds at www.sedar.com. The Circular will include the results of an Independent Review Committee assessment for each of the affected funds.
About Sun Life Global Investments (Canada) Inc.
Sun Life Global Investments is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada's most trusted names in financial services with some of the best asset managers from around the world to deliver a truly global investment platform. As of January 31, 2020, Sun Life Global Investments manages $29.68 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2019, Sun Life had total assets under management of $1,099 billion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Forward-Looking Statements
Certain statements in this news release may be considered to be forward-looking statements within the meaning of applicable Canadian securities legislation. Information about risk factors relating to the mutual funds managed by Sun Life Global Investments can be found in the current prospectus of the mutual funds discussed in this press release and for Sun Life can be found in the annual information form of Sun Life Financial Inc., for the year ended December 31, 2019 under the heading "Risk Factors" and other regulatory filings filed with or furnished to Canadian securities regulators available at www.sedar.com.
© Sun Life Global Investments (Canada) Inc., 2020. Sun Life Global Investments (Canada) Inc. is a member of the Sun Life group of companies.
Media Relations Contact:
Alexandra Locke
Manager, Corporate Communications
T. 416-408-7357
[email protected]
SOURCE Sun Life Global Investments (Canada) Inc.
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