Sun Life Financial completes acquisition of NYC-based Ryan Labs Asset Management
02 Apr, 2015, 10:32 ET
Sun Life Investment Management continues focus on institutional fixed income management with expansion in the U.S.
TORONTO and NEW YORK, April 2, 2015 /CNW/ - Sun Life Investment Management and Ryan Labs Asset Management announced today that Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has completed the purchase of Ryan Labs, Inc. (Ryan Labs) of New York City. The acquisition was announced on January 28th and is not material to the results of Sun Life Financial Inc.
Ryan Labs specializes in liability driven investing (LDI) and total return fixed income strategies for institutional clients throughout the United States. The firm's LDI strategies are designed to meet the risk management objectives of defined benefit pension funds in an actively managed framework. The firm's range of total return strategies are managed against traditional fixed income benchmarks.
"We are excited to join Sun Life Investment Management. Our shared commitment to meeting the unique goals of defined benefit pension funds and other institutional investors' evolving fixed income needs will position us well for future growth in the U.S.," said Sean McShea, President, Ryan Labs Asset Management.
"Extending our asset management footprint in the U.S. through this acquisition is an important milestone for Sun Life Investment Management," said Steve Peacher, President, Sun Life Investment Management and Chief Investment Officer, Sun Life Financial. "Ryan Labs has a strong focus on its customers and excellent investment performance across their LDI and total return platforms. The acquisition builds on our successful launch of Sun Life Investment Management Inc. in Canada, and continues to grow our asset management business as part of Sun Life Financial's four-pillar enterprise strategy."
Ryan Labs has approximately US$5.1 billion in assets under management and has changed its name to Ryan Labs Asset Management Inc. The firm will operate as a unit of Sun Life Investment Management, which provides investment solutions to institutional investors and launched its third-party asset management business in Canada in April 2014.
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About Sun Life Investment Management
Sun Life Investment Management is the institutional investment management arm of Sun Life Financial that includes Sun Life Investment Management Inc., the investment operations of Sun Life Assurance Company of Canada, and Ryan Labs Asset 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. Sun Life Investment Management Inc. is supported by the investment operations of Sun Life Assurance Company of Canada that also manages assets for its affiliated insurance companies.
For further information about Sun Life Investment Management Inc. and its offerings, please visit www.sunlifeinvestmentmanagement.com.
Ryan Labs Asset Management specializes in managing fixed income portfolios for institutional clients principally in the United States. Its platform includes liability driven investing strategies managed versus a Custom Liability Index® and total return strategies managed against traditional fixed income benchmarks. In 1991, Ryan Labs Asset Management became the first asset manager to create a custom liability index with daily valuation and manage a bond portfolio versus this index.
For further information about Ryan Labs Asset Management and its offerings, please visit www.ryanlabs.com.
About Sun Life Financial
Celebrating 150 years in 2015, Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth 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 December 31, 2014 the Sun Life Financial group of companies had total assets under management of $734 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 except as otherwise noted.
SOURCE Sun Life Investment Management
For further information: Media Relations Contact: Joanna Nicholson, Senior Communications Specialist, Corporate Communications, Sun Life Financial, Tel: +1-416-204-3779, [email protected]; Investor Relations Contact: Greg Dilworth, Vice-President, Investor Relations, Sun Life Financial, Tel: +1-416-979-4198, [email protected]
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