TORONTO, Jan. 19, 2012 /CNW/ - Sun Life Financial and CI Investments
today announced several enhancements to the SunWise Essential Series segregated fund program, including the option to
receive a guaranteed income for life as early as age 55. Other changes
include the launch of 14 new funds, and the addition of CI Private
Investment Management, a program designed to meet the unique needs of
higher net worth investors.
SunWise Essential Series is a comprehensive, customizable segregated fund
solution designed to meet the investment, retirement and estate
planning needs of Canadians. Investors can choose from a wide variety
of investment funds available in three classes with different
guarantees to serve different objectives: Income Class, Investment
Class and Estate Class.
"Income security in retirement is an issue of growing importance to
Canadians, and SunWise Essential Series is an effective way to create a guaranteed lifetime
retirement income," says Kevin Dougherty, President, Sun Life Financial
Canada. "Clients can choose additional funds, including seven funds
with access to the investment expertise of Sun Life Global Investments,
providing clients with greater flexibility to help them achieve their
"The guarantees provided by SunWise Essential Series offer powerful benefits to Canadians, including the
ability to invest with peace of mind during volatile markets," said
Derek Green, President of CI Investments. "With the changes announced
today, SunWise Essential Series is even more flexible and can be easily customized to
meet the needs of a wide range of people. In particular, we are pleased
to combine the benefits of SunWise Essential Series with CI Private Investment Management, a new program
for higher net worth investors."
The changes to SunWise Essential Series include:
The addition of the Lifetime Withdrawal Amount (LWA) at Age 55 for
Income Class. This gives clients the flexibility to start receiving
guaranteed income as early as age 55, versus age 65 previously.
Providing SunWise Essential Series clients with access to CI Private Investment
Management (PIM). PIM is designed to enhance client portfolios from a
tax, asset allocation and cost perspective and is subject to a minimum
investment of $100,000.
More investment choices. Fourteen funds have been added to the SunWise Essential Series lineup, offering access to portfolio management teams
from Sun Life Global Investments (Canada) Inc., as well as Black Creek
Investment Management and Cambridge Advisors.
Segregated fund contracts provide insurance benefits that include
guarantees, potential creditor protection and estate planning features.
The new additions to SunWise Essential Series build on the experience and expertise of Sun Life
Financial and CI Investments in providing segregated funds, with the
two firms having more than $11.8 billion in segregated funds under
More information about SunWise Essential Series and these changes can be found at www.sunwiseessentialseries.com or from financial advisors. SunWise Essential Series contracts 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
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, 2011, the Sun
Life Financial group of companies had total assets under management of
$459 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 $91 billion in assets as of
December 31, 2011.
SOURCE CI Financial Corp.
For further information:
Media & Public Relations
Sun Life Financial Canada
519-888-3900, ext. 4041