Builds on strong expertise in private asset classes and liability driven investing
TORONTO, Feb. 6, 2014 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced the launch of its new asset management business, Sun Life Investment Management Inc., that will specialize in providing private asset class pooled funds (particularly in private fixed income, commercial mortgages and real estate) and liability driven investment strategies for defined benefit ("DB") pension plans and other institutional investors in Canada.
"Through this initiative we will be offering the same types of expertise to third-party clients that we have built over the decades to manage our insurance assets," Dean Connor, President and CEO, Sun Life Financial said. "This broadens the asset management pillar of our enterprise strategy, providing an excellent complement to MFS Investment Management, Sun Life Global Investments (Canada) Inc. and our Asian asset management businesses. We are starting the new business in Canada and intend to expand it to other markets over time."
The new business will operate under the brand name Sun Life Investment Management, which also encompasses the investment operations of Sun Life Assurance Company of Canada that manages approximately $100 billion in assets, including approximately $38 billion in private asset class investments. Sun Life Investment Management is headed by Steve Peacher, Sun Life Financial's Executive Vice-President and Chief Investment Officer, who leads an investments team of more than 200 employees worldwide.
As its initial product suite, Sun Life Investment Management Inc. will offer three pooled funds -- the Sun Life Private Fixed Income Plus Fund, the Sun Life Canadian Commercial Mortgage Fund, and the Sun Life Canadian Real Estate Fund - as well as liability driven investment strategies. These products and services are briefly summarized below and pending final regulatory approvals are expected to be available starting later this quarter or in the second quarter this year.
"Working with the DB pension community we see a growing market for the types of strategies and investments we use for our insurance portfolio," Peacher said. "We are one of Canada's leading investors in private fixed income, commercial mortgages and real estate, and with our strong brand and relationships we believe we can help clients achieve their goals."
Initial product suite
Subject to regulatory approvals, Sun Life Investment Management Inc. expects to offer the following initial suite of products beginning later this quarter or in the second quarter this year.
Sun Life Private Fixed Income Plus Fund
A portfolio that will focus on private fixed income investments with the balance in public debt securities.
Sun Life Canadian Commercial Mortgage Fund
A diversified portfolio of primarily fixed-rate first mortgages secured by high-quality income-producing office, retail, industrial, and multi-family rental properties located in growing urban areas across Canada.
Sun Life Canadian Real Estate Fund
A diversified portfolio of high-quality, well-built and well-maintained real estate assets in growing urban areas across Canada.
Liability Driven Investment Strategies
Separately managed client accounts in which investment strategies and portfolios are custom-built to align with a client's distinct liability profile.
Further information about Sun Life Investment Management Inc. and its offerings is available at www.sunlifeinvestmentmanagement.com.
Notice to Investors
This communication is not, and under no circumstances is to be construed as, an invitation to make an investment in the funds nor does it constitute a public offering to sell units of the funds. Subscriptions for units of the funds will only be considered on the terms of the Offering Memorandum of each of the funds, which will be available later this quarter or in the second quarter this year to qualified investors.
About Sun Life Investment Management
Sun Life Investment Management is an institutional investment management arm of Sun Life Financial that includes the investment operations of Sun Life Assurance Company of Canada that manages approximately $100 billion in assets and Sun Life Investment Management Inc.
Sun Life Investment Management Inc. provides investment solutions for defined benefit pension plans and other institutional investors in Canada, specializing in private asset class funds and liability driven investment strategies. It is registered with the Canadian securities commissions and regulatory authorities as a Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer. It has applied for registration as a Commodities Trading Manager.
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. Sun Life Financial and its partners have operations in key 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 September 30, 2013 the Sun Life Financial group of companies had total assets under management of $590 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 and at September 30, 2013.
SOURCE: Sun Life Financial Inc.
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