TORONTO, Nov. 19, 2014 /CNW/ - Sun Life Global Investments (Canada) Inc. ("Sun Life Global Investments") is announcing that investors of its mutual funds that are structured as trusts (the "Funds") have approved a proposal to change the way expenses are charged to the Funds. Effective on or about January 1, 2015, Sun Life Global Investments will begin paying certain operating expenses of the Funds in return for each Fund paying a new fixed-rate administration fee to Sun Life Global Investments. The unitholders of each Fund approved the introduction of the fixed-rate administration fee at special meetings held today.

"By approving the introduction of a fixed-rate administration fee, our customers have increased the fee predictability and clarity of their investments," said Rick Headrick, President, Sun Life Global Investments.

The operating expenses payable by Sun Life Global Investments will include, but are not limited to, accounting, audit and legal fees, bank and interest charges, safekeeping and custodial fees, administrative and systems costs, costs of reports to investors, prospectuses and other disclosure documents, regulatory filing fees (including any regulatory fees and expenses payable by Sun Life Global Investments in connection with acting as manager of the Funds) and trustee fees for registered plans.

Each Fund will continue to pay certain operating costs (the "fund costs"). The fund costs include borrowing costs incurred by the Funds from time to time, fees and expenses payable to or in connection with the Funds' Independent Review Committee ("IRC"), taxes payable by the Funds and the costs of complying with any new regulatory or legal requirement imposed on the Funds commencing after September 25, 2014.

Sun Life Global Investments referred the proposal to introduce fixed-rate administration fees to the IRC of the Funds. The IRC considered the proposal and determined, subject to certain conditions, that the proposal would achieve a fair and reasonable result for the Funds.

The Sun Life Global Investments mutual funds structured as classes of a mutual fund corporation already pay fixed-rate administration fees. 

More information about these changes will be available in the amendments to the simplified prospectuses for the Funds to be filed in connection with these changes. These documents will be available at www.sedar.com and www.sunlifeglobalinvestments.com.  More information about these changes can also be found in an earlier news release from September 25, 2014.

About Sun Life Global Investments (Canada) Inc.

Sun Life Global Investments (Canada) Inc. brings 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. With a focus on risk management, our rigorous selection and monitoring process provides access to leading asset managers who use insight and innovation to manage high quality investment solutions for Canadian investors. Sun Life Global Investments (Canada) Inc. is a member of the Sun Life Financial group of companies. For more information, visit www.sunlifeglobalinvestments.com.

About Sun Life Financial

Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial and its partners have operations in key 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 September 30, 2014 the Sun Life Financial group of companies had total assets under management of $698 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.

SOURCE Sun Life Financial Canada

Image with caption: "Sun Life Financial Canada (CNW Group/Sun Life Financial Canada)". Image available at: http://photos.newswire.ca/images/download/20141119_C7752_PHOTO_EN_8299.jpg