New segregated fund portfolio solution maximizes investors' equity exposure
TORONTO, Jan. 11 /CNW/ - Sun Life Financial and CI Investments Inc. today announced the launch of SunWise Elite Bundles, an innovative portfolio strategy that allows investors to maximize their equity exposure within the SunWise Elite segregated funds, while benefiting from the expertise of leading portfolio managers.
Each SunWise Elite Bundle combines one or two equity funds with an income fund, and is rebalanced monthly to provide the maximum 70% equity exposure. Unlike other portfolio solutions, where asset allocation is performed at the fund level, SunWise Elite Bundles are rebalanced based on the actual securities held in each underlying fund. Any cash or fixed-income securities held in the equity funds are counted as part of the income allocation.
"With SunWise Elite Bundles, investors automatically maximize the growth potential of their investment while enjoying the comfort of the guarantees offered by SunWise Elite, as well as SunWise Elite Plus with guaranteed income for life," said Kevin Dougherty, President, Sun Life Financial Canada.
SunWise Elite Bundles provide investors with a true asset allocation, and the automatic rebalancing ensures their portfolios' allocations remain on track. (Under the new SunWise Elite contract, a portfolio must have a minimum 30% allocation to fixed-income investments.) The Bundles are available for SunWise Elite Combined Guarantee Option (Class B) and Basic Guarantee Option (Class C) units, and with SunWise Elite Plus, the guaranteed minimum withdrawal benefit (GMWB) rider, which provides income for life.
"SunWise Elite Bundles provide portfolios managed by some of the best investment teams available in Canada today, including Gerry Coleman of Harbour Advisors, Eric Bushell of Signature Global Advisors, and Alan Radlo of Cambridge Advisors," said Peter W. Anderson, Chief Executive Officer, CI Investments.
In addition, two of the Bundles offer leading funds from Dynamic Funds and Fidelity Investments.
Effective today, seven Bundles and one other fund have been added to the SunWise Elite lineup:
- SunWise Elite CI Cambridge Core Bundle
- SunWise Elite CI Cambridge Balanced Bundle
- SunWise Elite CI Harbour Core Bundle
- SunWise Elite CI Harbour Balanced Bundle
- SunWise Elite CI Signature Core Bundle
- SunWise Elite Dynamic Core Bundle
- SunWise Elite Fidelity Disciplined Core Bundle
- SunWise Elite CI Signature Corporate Bond Corporate Fund
A Core Bundle combines one or two equity funds with a conservative bond fund. A Balanced Bundle combines one equity fund with a diversified income fund. The additions bring the total number of SunWise Elite funds to 62, making it the most extensive segregated fund lineup available in Canada with the GMWB. The lineup is well diversified by region, asset class, investment style and portfolio manager.
More information about SunWise Elite Bundles and SunWise Elite Plus with guaranteed income for life is available at www.ci.com. SunWise Elite and SunWise Elite Plus policies are issued by Sun Life Assurance Company of Canada and managed and administered by CI Investments. Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of September 30, 2009, the Sun Life Financial group of companies had total assets under management of $412 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.
About CI Investments
CI Investments Inc. is one of Canada's largest investment management companies. CI offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $88.8 billion in fee-earning assets as of December 31, 2009.
SOURCE CI Investments Inc.
For further information: For further information: Paul Moser, Media and Public Relations, Sun Life Financial Canada, (519) 888-3900 x4041, email@example.com; Murray Oxby, Director, Communications, CI Investments Inc., (416) 681-3254