Sun Life Global Investments announces mutual fund changes
Feb 20, 2019
TORONTO, Feb. 20, 2019 /CNW/ - Sun Life Global Investments (Canada) Inc. ("Sun Life Global Investments") today announced several changes to its mutual fund lineup, with the aim of streamlining and improving the experience for Clients and advisors.
Sun Life Infrastructure Fund to become Sun Life Real Assets Fund
Sun Life Infrastructure Fund is seeking unitholder approval to change its investment objective. If approved, the Fund will be transitioned to a multi-manager structure. The new objective seeks to provide long-term capital appreciation while preserving purchasing power, including during periods of rising inflation, by investing primarily in a diversified portfolio of global securities. The fund will also be renamed Sun Life Real Assets Fund. The unitholder vote on the proposed investment change will take place on or about May 17, 2019.
If the proposed change receives the required unitholder approval, the investment objective change will take effect on or about May 31, 2019. All costs and expenses associated with the unitholder vote will be borne by Sun Life Global Investments.
If the proposed change to the investment objective is approved, Lazard Asset Management (Canada) Inc., the current sub-advisor of Sun Life Infrastructure Fund, will continue to manage the fund's infrastructure sleeve. KBI Global Investors (North America) Ltd. will be appointed to manage the fund's natural resource sleeve and MFS Institutional Investments (Canada) Ltd. ("MFS") will be appointed to manage the fund's real estate sleeve with the new investment strategies in place effective 4:01 p.m. ET on May 31, 2019.
Management Information Circular
In advance of the unitholder meeting that will be held to address the proposed change to the investment objective described above, the full details of the proposed change will be set out in a management information circular (the "Information Circular") that will be made available to unitholders and will be available on the System for Electronic Document Analysis and Retrieval at www.sedar.com. The Independent Review Committee for Sun Life Infrastructure Fund has considered the appointment of an affiliate, MFS, as a sub-advisor, and has provided a positive recommendation that the proposed change achieves a fair and reasonable result for the Sun Life Infrastructure Fund.
Sun Life Infrastructure Fund Redesignates Certain Series
Effective February 22, 2019, Series T5, Series T8, Series F5, and Series F8 units of Sun Life Infrastructure Fund will be closed to new purchases. Effective the same date, Series T5 and T8 units will be redesignated Series A units, and Series F5 and F8 units will be redesignated Series F units.
Risk Rating Changes to Sun Life MFS Dividend Income Fund and Sun Life Dynamic Equity Income Fund
Effective February 22, 2019, the risk rating for Sun Life MFS Dividend Income Fund and Sun Life Dynamic Equity Income Fund will change from "Medium" to "Low to Medium." This change is the result of a review that was conducted as part of Sun Life Global Investments' ongoing fund review process. During the review, it was identified that the risk rating of these two funds should be classified at a lower risk level. The investment objectives and strategies of each fund remain unchanged. Sun Life Global Investments reviews the risk rating of funds at least once a year, as well as when a fund undergoes a material change.
Name Change to Sun Life Trimark Canadian Class
Effective February 22, 2019, Sun Life Trimark Canadian Class will be renamed Sun Life Invesco Canadian Class.
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. Sun Life Global Investments manages $24 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life Financial group of companies. For more information, visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial 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, 2018, Sun Life Financial had total assets under management of $951 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 amounts 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.
© Sun Life Global Investments (Canada) Inc., 2019. Sun Life Global Investments (Canada) Inc. is a member of the Sun Life Financial group of companies.
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