TORONTO, July 21, 2020 /CNW/ - SLGI Asset Management Inc.
("Sun Life Global Investments") announced today changes to select
mutual funds, including reduced management fees and other
business-related changes.
Sun Life Global Investments is reducing the management fees on a
majority of its fund series by five basis points. The decision to
reduce fees comes at a time when financial security – a key pillar
of Sun Life's sustainability strategy – is top of mind for many.
Now more than ever, Clients are concerned with their financial
well-being and Sun Life Global Investments is committed to being
part of the solution.
"It's important that we continue to offer funds at a competitive
price within the market," said Jordy
Chilcott, President, Sun Life Global Investments. "By
lowering our fees, we're ensuring advisors and Clients know that we
are committed to helping Canadians as they seek greater financial
security."
The management fee reductions, effective November 1, 2020, are as detailed in the table
below.
Fund
Name
|
Management Fees
for Series
A/AH/AT5/AT8/C/T5/T8
|
Management Fees
for Series
F/FH/F5/F8/FC/FT5/FT8/O/OH
|
Current
|
New
|
Current
|
New
|
Sun Life BlackRock
Canadian Equity Fund
|
1.50%
|
1.45%
|
0.50%
|
0.45%
|
Sun Life Dynamic
Equity Income Fund
|
1.75%
|
1.70%
|
0.75%
|
0.70%
|
Sun Life Dynamic
Strategic Yield Fund
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life Excel
Emerging Markets Fund
|
2.15%
|
2.10%
|
1.15%
|
1.10%
|
Sun Life Excel High
Income Fund
|
1.75%
|
1.70%
|
0.90%
|
0.85%
|
Sun Life Excel India
Balanced Fund
|
1.90%
|
1.85%
|
0.90%
|
0.85%
|
Sun Life Excel India
Fund
|
2.05%
|
2.00%
|
1.05%
|
1.00%
|
Sun Life Excel New
India Leaders Fund
|
2.05%
|
2.00%
|
1.05%
|
1.00%
|
Sun Life Granite
Balanced Class
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life Granite
Balanced Growth Class
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life Granite
Balanced Growth Portfolio
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life Granite
Balanced Portfolio
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life Granite
Conservative Class
|
1.50%
|
1.45%
|
0.75%
|
0.70%
|
Sun Life Granite
Conservative Portfolio
|
1.50%
|
1.45%
|
0.75%
|
0.70%
|
Sun Life Granite
Enhanced Income Portfolio
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life Granite
Growth Class
|
1.90%
|
1.85%
|
0.90%
|
0.85%
|
Sun Life Granite
Growth Portfolio
|
1.90%
|
1.85%
|
0.90%
|
0.85%
|
Sun Life Granite
Income Portfolio
|
1.50%
|
1.45%
|
0.75%
|
0.70%
|
Sun Life Granite
Moderate Class
|
1.75%
|
1.70%
|
0.75%
|
0.70%
|
Sun Life Granite
Moderate Portfolio
|
1.75%
|
1.70%
|
0.75%
|
0.70%
|
Sun Life JPMorgan
International Equity Fund
|
1.90%
|
1.85%
|
0.90%
|
0.85%
|
Sun Life MFS Canadian
Bond Fund
|
1.05%
|
1.00%
|
0.55%
|
0.50%
|
Sun Life MFS Canadian
Equity Fund
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life MFS Dividend
Income Fund
|
1.70%
|
1.65%
|
0.70%
|
0.65%
|
Sun Life MFS Global
Growth Class
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS Global
Growth Fund
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS Global
Total Return Fund
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life MFS Global
Value Fund
|
2.00%
|
1.95%
|
1.00%
|
0.95%
|
Sun Life MFS
International Opportunities Class
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS
International Opportunities Fund
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS
International Value Fund
|
2.00%
|
1.95%
|
1.00%
|
0.95%
|
Sun Life MFS Low
Volatility Global Equity Fund
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life MFS Low
Volatility International Equity Fund
|
1.80%
|
1.75%
|
0.80%
|
0.75%
|
Sun Life MFS U.S.
Equity Fund
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS U.S.
Growth Class
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS U.S.
Growth Fund
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life MFS U.S.
Value Fund
|
1.85%
|
1.80%
|
0.85%
|
0.80%
|
Sun Life Milestone
2025 Fund
|
1.30%
|
1.25%
|
|
|
Sun Life Milestone
2030 Fund
|
1.85%
|
1.80%
|
|
|
Sun Life Milestone
2035 Fund
|
1.85%
|
1.80%
|
|
|
Sun Life
Multi-Strategy Bond Fund
|
1.05%
|
1.00%
|
0.55%
|
0.50%
|
Sun Life NWQ Flexible
Income Fund
|
1.35%
|
1.30%
|
0.85%
|
0.80%
|
Sun Life Schroder
Global Mid Cap Fund
|
2.00%
|
1.95%
|
1.00%
|
0.95%
|
Sun Life Tactical
Balanced ETF Portfolio*
|
1.50%
|
1.45%
|
0.50%
|
0.45%
|
* The fee reductions for Sun Life Tactical Balanced ETF
Portfolio are for Series C, FC, and O only.
Sun Life Global Investments will also be reducing the management
fees for Sun Life Money Market Fund and Sun Life Money Market Class
on August 1, 2020, as follows:
Series
|
Current
Management
Fee
|
New Management
Fee
|
A (FE)
|
1.00
|
0.55
|
F
|
0.75
|
0.45
|
O
|
0.75
|
0.45
|
Also effective August 1, 2020, the
Deferred Sales Charge (DSC) and Low Load (LL) purchase options are
being capped for Sun Life Money Market Fund and Sun Life Money
Market Class and will only be available to accounts that already
hold these purchase options. Existing Sun Life Global Investments
investors within the DSC / LL purchase option will be able to
switch securities into the Sun Life Money Market Fund or Sun Life
Money Market Class under the DSC or LL options, even if they
currently do not have securities in Sun Life Money Market Fund or
Sun Life Money Market Class.
Additional business-related changes
Effective
immediately, the risk ratings of Sun Life Global Tactical Yield
Private Pool will be increasing from Low to Low-to-medium while Sun
Life MFS Low Volatility Global Equity Fund will be decreasing from
Medium to Low-to-medium. In accordance with the investment risk
classification methodology mandated by the Canadian Securities
Administrators, Sun Life Global Investments reviews the risk
ratings of its funds at least once a year, as well as when a fund
undergoes a material change.
The Funds' risk ratings changed following an annual review that
was conducted as part of Sun Life Global Investments' ongoing fund
review process. The investment objectives and strategies of the
Funds remain unchanged.
In addition to these changes, the investment fund manager
formerly known as "Sun Life Global Investments (Canada) Inc." has changed its legal entity
name to "SLGI Asset Management Inc." effective July 20, 2020. All mutual fund products will
continue to be branded under the trade name of "Sun Life Global
Investments."
About SLGI Asset Management Inc.
SLGI Asset
Management Inc. 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
March 31, 2020, SLGI Asset Management
Inc. manages $27.41 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 March
31, 2020, Sun Life had total assets under management of
$1,023 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.
© SLGI Asset Management Inc., 2020. SLGI Asset Management Inc.
is a member of the Sun Life group of companies.
Media Relations Contact
Alexandra Locke, Manager
Corporate Communications
T. 416-408-7357
alexandra.locke@sunlife.com
SOURCE Sun Life Global Investments (Canada) Inc.