Sun Life Global Investments announces changes to certain Sun Life MFS mutual funds

TORONTO, June 7, 2016 /CNW/ - Sun Life Global Investments (Canada) Inc. announced today that Sun Life MFS Balanced Value Fund and Sun Life MFS Balanced Growth Fund (the Terminating Funds) will each merge into Sun Life Granite Balanced Portfolio (the Continuing Fund). This merger will occur on or about the close of business on August 26, 2016 and has been approved by the Funds' Independent Review Committee. It does not require unitholder approval or regulatory approval.

On June 7, 2016, both Terminating Funds will be capped to new investors. Existing investors in the Terminating Funds may continue to invest up to the Fund Merger Date. In addition, all pre-authorized chequing (PAC) and systematic transfer plans (STP) in-force as of June 7, 2016 will continue as per usual until the Fund Merger Date. After the merger, PACs and STPs will automatically transfer to the Continuing Fund, unless we receive instructions otherwise.

On the Fund Merger Date, all holders of units in the Terminating Funds will receive units of the Continuing Fund, including a new Series D in Sun Life Granite Balanced Portfolio to accommodate existing Series D unitholders in the Terminating Funds.

The mergers will be completed on a tax-deferred basis. Any unrealized gains investors have on units of a Terminating Fund will be deferred until they dispose of units of the Continuing Fund. Pre-merger trading activity within the Terminating Funds necessary to complete the mergers may result in the realization and distribution of some capital gains for non-registered unitholders. There will be no tax consequences to registered accountholders.

About Sun Life Global Investments (Canada) Inc.

Sun Life Global Investments 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 more than $13 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 a diverse range of protection and wealth products and services to individuals and corporate customers. 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 March 31, 2016, the Sun Life Financial group of companies had total assets under management of $861 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.

SOURCE Sun Life Global Investments (Canada) Inc.