Sun Life Financial Inc.

06/21/2022 | Press release | Distributed by Public on 06/21/2022 06:00

SLGI Asset Management Inc. announces new solutions for retirement income and changes to select mutual funds

TORONTO, June 21, 2022/CNW/ - SLGI Asset Management Inc. ("SLGI Asset Management") announced today the launch of a new private pool and changes to select mutual funds (the "Funds") to enhance SLGI Asset Management's product offerings.

New solutions for retirement income
The 2022 FP Canada™ Financial Stress Index reveals that one in three (35 per cent) Canadians say financial stress is leading to anxiety, depression or mental health challenges; two in five (39 per cent) report they feel less hopeful about their financial future now than they did a year ago. SLGI Asset Management is committed to helping Canadians create more resilient financial futures by providing greater access to innovative products and services. These innovative solutions also make it easier for Canadians to take positive financial actions. By helping Canadians build long-term wealth, SLGI Asset Management is bringing its commitment to its Purpose and sustainability to life.

"With one in five Canadians nearing retirement age (55-64 years of age), the need for income products has never been more pronounced (Source: Statscan)," says Oricia Smith, President, SLGI Asset Management and Senior Vice-President, Investment Solutions, Sun Life Canada. "We are excited to announce two new solutions to meet the need for retirement income and deliver on our Purpose of helping Canadians achieve lifetime financial security and live healthier lives. By adding these new products to our already robust suite of options, we're providing Canadians with more choice in solutions that will help them build wealth so they can focus on what matters most at each stage in their lives."

Sun Life MFS Diversified Income Fund
Effective today, Sun Life MFS Dividend Income Fund will be transitioned to the Sun Life MFS Diversified Income Fund (the Fund), with Robert Almeida, Global Investment Strategist, Portfolio Manager, MFS Investment Management (MFS), serving as the lead Portfolio Manager. The Fund's investment strategies have broadened to become a multi-asset, global balanced portfolio. It seeks to generate a consistent stream of income and capital preservation for investors in retirement.

Sun Life MFS Diversified Income Fund now offers the following features to investors:

  • A strategic blend of equity (55 per cent) and fixed income (45 per cent).
  • Optimized allocations to maximize income and return potential, while minimizing volatility amongst six distinct income-oriented asset classes.
  • Sustainable, fixed monthly distributions on all series of the Fund.
  • Flexibility to make disciplined tactical asset mix changes in response to market conditions.

Sun Life Crescent Specialty Credit Private Pool
Effective July 18, Sun Life Crescent Specialty Credit Private Pool (the Pool) will be launched. The Pool will be sub-advised by Crescent Capital Group, a global alternative credit investment manager with over 30 years of specialized expertise investing in corporate debt. The addition of the Pool broadens SLGI Asset Management's platform of investment solutions, providing access to an alternative yield source as well as potential protection against inflation and rising interest rates. Investors in the Pool will have access to features such as:

  • A specialized fixed income fund focused on below investment-grade debt.
  • Three credit opportunities in a single portfolio - bank loans, high-yield bonds, and narrowly syndicated credit.
  • A design for attractive yield potential, principal preservation, and protection against inflation/rising interest rates.
  • A fixed monthly distribution for all series of the Pool.

Fund name change
Effective today, the Sun Life NWQ Flexible Income Fund will be renamed to Sun Life Nuveen Flexible Income Fund. This will better align with the recent name change of the fund's sub-advisor from NWQ Investment Management Company, LLC to Nuveen Asset Management, LLC. The fund's mandate and existing Portfolio Management team will not change.

Risk rating changes to select funds
In accordance with the investment risk classification methodology mandated by the Canadian securities regulatory authorities, SLGI Asset Management reviews the risk ratings of its funds at least once a year, as well as when a fund undergoes a material change. As of June 21, 2022, the risk ratings for the following funds will be lowered as indicated:

Funds

Previous Risk Rating

New Risk Rating

Sun Life MFS Canadian Equity Fund

Medium

Low to medium

Sun Life BlackRock Canadian Equity Fund

Medium

Low to medium

Sun Life Dynamic Strategic Yield Fund

Low to medium

Low

Sun Life JPMorgan International Equity Fund

Medium

Low to medium

Sun Life MFS Global Growth Fund

Medium

Low to medium

Sun Life MFS International Opportunities Class

Medium

Low to medium

Sun Life MFS International Opportunities Fund

Medium

Low to medium


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'smost trusted names in financial services, Sun Life, with some of the best asset managers from around the world to deliver a truly global investment platform. As of March 31, 2022, SLGI Asset Management Inc. manages $36.21 billionon 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 asset management, wealth, insurance and health solutions to individual and institutional 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, Malaysiaand Bermuda. As of March 31, 2022, Sun Life had total assets under management of $1.35 trillion. 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
[email protected]

SOURCE Sun Life Financial Canada