TORONTO, Feb. 19, 2020 /CNW/ - Sun Life Global
Investments (Canada) Inc. ("Sun
Life Global Investments") today announced changes to select mutual
funds with the aim to streamline and enhance Sun Life Global
Investments' product offerings. These proposed changes include fund
mergers, investment objective changes, and a fund name change.
Fund mergers
Effective on or about June 5, 2020, select Sun Life Global Investment
funds (collectively, the "Terminating Funds") will each merge into
a Sun Life Global Investment fund (collectively, the "Continuing
Funds"), subject to required securityholder and regulatory
approvals. The securityholder votes are scheduled to take place on
or about May 8, 2020. All costs and
expenses associated with the mergers will be borne by Sun Life
Global Investments.
The proposed fund mergers are outlined in the table below:
Terminating
Fund
|
Continuing
Fund
|
Sun Life Sentry Value
Fund
Sun Life Sentry Value
Class
Sun Life Franklin
Bissett Canadian Equity Class
Sun Life Invesco
Canadian Class
Sun Life MFS Canadian
Equity Growth Class
|
Sun Life MFS Canadian
Equity Growth Fund
|
Sun Life BlackRock
Canadian Composite Equity
Class
Sun Life BlackRock
Canadian Equity Class
|
Sun Life BlackRock
Canadian Equity Fund
|
Sun Life Dynamic
Energy Fund
Sun Life Dynamic
Equity Income Class
|
Sun Life Dynamic
Equity Income Fund
|
Sun Life BlackRock
Canadian Balanced Fund
Sun Life BlackRock
Canadian Balanced Class
|
Sun Life Tactical
Balanced ETF Portfolio
|
Sun Life Dynamic
American Fund
|
Sun Life MFS U.S.
Growth Fund
|
Sun Life Excel
Emerging Markets Balanced Fund
|
Sun Life MFS Global
Total Return Fund
|
Sun Life MFS Monthly
Income Fund
|
Sun Life Granite
Income Portfolio
|
Sun Life Templeton
Global Bond Fund
|
Sun Life Tactical
Fixed Income ETF Portfolio
|
Sun Life Excel China
Fund
|
Sun Life Excel
Emerging Markets Fund
|
Sun Life Dynamic
Strategic Yield Class
|
Sun Life Dynamic
Strategic Yield Fund
|
Sun Life MFS Dividend
Income Class
|
Sun Life MFS Dividend
Income Fund
|
In anticipation of these mergers, terminating funds will be
closed to new accounts, effective 4:01 p.m.
EST, February 26, 2020.
Investment objective changes
Effective June 5, 2020, the investment objectives will
change for the following funds, pending securityholder
approval:
- Sun Life Excel India Fund;
- Sun Life Excel India Balanced Fund; and
- Sun Life Excel New India Leaders Fund.
The securityholder vote is scheduled to take place on or about
May 8, 2020. The intent of the
changes are to remove references to fund structure and focus solely
on the investment objectives of the fund.
Fund name change
Effective February 26, 2020, Sun
Life MFS Canadian Equity Growth Fund will be renamed to Sun Life
MFS Canadian Equity Fund to better align the name of the fund with
its investment objective and strategies. The mandate of the Fund
will not change.
More information
Prior to securityholder meetings for the fund mergers and the
change to the investment objectives described above, the full
details of each change will be set out in a management information
circular (the "Circular"). This Circular will be made available to
securityholders and will also be available on the System for
Electronic Document Analysis and Retrieval (SEDAR) profile for the
relevant funds at www.sedar.com. The Circular will include the
results of an Independent Review Committee assessment for each of
the affected funds.
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. As of January 31, 2020, Sun
Life Global Investments manages $29.68
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 December
31, 2019, Sun Life had total assets under management of
$1,099 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.
© Sun Life Global Investments (Canada) Inc., 2020. Sun Life Global
Investments (Canada) 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.