TORONTO, May 31, 2021 /CNW/ - SLGI Asset Management Inc.
("SLGI Asset Management") announced today proposed changes to
select mutual funds. These changes are meant to streamline the SLGI
Asset Management product lineup.
Effective on or about July 30,
2021, SLGI Asset Management intends to terminate Sun Life
Excel India Balanced Fund and Sun Life Excel New India Leaders Fund
(the "Terminating Funds") and distribute the proceeds to the
investors of record of the Terminating Funds on that date. As part
of the termination, SLGI Asset Management will liquidate the
investments of each of the Terminating Funds.
Effective immediately, management fees, short-term trading fees,
and deferred sales charge/low load sales charge redemption fees for
the Terminating Funds will be waived. The Terminating Funds will
also be closed to all purchases immediately, including
pre-authorized chequing plans, and switches-in. Monthly
distributions for the Sun Life Excel India Balanced Fund will cease
after today's distribution payment.
As part of the termination, a special distribution will be paid
today, May 31, 2021, to investors in
Sun Life Excel India Balanced Fund on record as of May 28, 2021 (the "special distribution"). This
will be in addition to the regular monthly distribution that
investors in Sun Life Excel India Balanced Fund receive. The
special distribution amount reflects the estimate of the total
amount of capital gains and foreign income that will be realized by
Sun Life Excel India Balanced Fund in 2021, less any amounts that
have already been distributed in the year. The dollar amount of the
special distribution per unit to be paid for each series is shown
below.
Sun Life Excel
India Balanced Fund
|
Series
|
$ Special
Distribution per Unit
|
A
|
0.272505
|
F
|
0.321366
|
X
|
0.263917
|
Prior to termination, Sun Life Excel India Balanced Fund may be
required to make an additional distribution, if the total of the
capital gains and foreign income earned by the fund in 2021 exceed
the amount of the distributions paid out in the year, including the
special distribution paid out today. However, if the distributions
made in the year exceed the actual capital gains and foreign income
earned by Sun Life Excel India Balanced Fund in 2021, the
difference will be characterized as a return of capital for
investors.
The Sun Life Excel New India Leaders Fund will not make a
special distribution. However, the fund may be required to make a
final distribution prior to termination if the total amount of the
fund's capital gains and foreign income in 2021 exceeds current
estimates.
Each of the underlying funds in which the Terminating Funds
invest (the Growth & Income Class and New Leaders Class) is a
distinct class of shares of Excel Funds Mauritius Company Ltd. (the
"Mauritius Company"). Following the termination of the Terminating
Funds, the Mauritius Company will also be wound up as part of this
process.
Impacted investors are recommended to contact their financial
advisor to discuss the terminations, the distributions and their
options.
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, 2021, SLGI
Asset Management Inc. manages $33.7
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, 2021, Sun Life had total assets under management of
$1,304 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.
Media Relations Contact:
Alexandra Locke
Manager, Corporate Communications
T. 416-408-7357
alexandra.locke@sunlife.com
SOURCE SLGI Asset Management Inc.