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  • SLGI Asset Management Inc. Announces Changes to Certain Mutual Funds | 2021-07-14 | Press Releases

SLGI Asset Management Inc. Announces Changes to Certain Mutual Funds | 2021-07-14 | Press Releases

By on July 14, 2021 0


TORONTO, July 14, 2021 / CNW / – SLGI Asset Management Inc. (“SLGI Asset Management”) today announced changes to certain mutual funds (the “Funds”) to streamline and enhance SLGI’s product offerings Asset Management and to comply with upcoming regulatory changes. These proposed changes include fund name changes, series closings, risk rating changes, and more.

Fund name changes

SLGI Asset Management has established trusted partnerships with its sub-advisers who are chosen after a rigorous selection process, ensuring that they are the right asset managers for the fund mandates. Effective today, new names have been selected for the funds listed below to better reflect SLGI Asset Management’s relationship with the global sub-advisors of these funds. The mandate of the Funds listed below will not change.

Name of previous fund

New fund name

Sun Life Excel High Income Fund

Sun Life Amundi Emerging Markets Debt Fund

Sun Life Excel India Fund

Sun Life Aditya Birla India Fund

Sun Life Global Dividend Private Pool

Sun Life KBI Global Dividend Private Pool

Sun Life Excel Emerging Markets Fund

Sun Life Schroder Emerging Markets Fund

Sun Life Opportunistic Fixed Income Private Pool

Wellington opportunistic fixed income Sun Life

Private swimming pool

End the writing of call options with deferred sales charges and reduced sales charges

SLGI Asset Management intends to discontinue offering deferred sales charge (“DSC”) and low sales charge (“LL”) call options on each of its Funds. This change will take place after the close of business on or around November 26, 2021 in all Funds.

After November 26, 2021, all purchase options with FAR and LL will be closed to purchases, including purchases made through systematic programs such as pre-authorized check programs. Securities purchased under the FAR and LL call options before November 26, 2021, may continue to be held in investor accounts. The exchange of securities between the Funds held under the FAR or LL call option will continue to be permitted.

SLGI Asset Management is implementing these changes in anticipation of regulatory changes mandated by the Canadian Securities Administrators, ending the writing of DSC and LL call options in all Canadian jurisdictions that takes effect on June 1, 2022.

End Trailing Commission Payments to Brokers Who Do Not Determine Suitability

Effective on or before March 31, 2022, SLGI Asset Management will no longer pay trailing commissions to brokers who do not determine suitability (“Relevant Brokers”), such as order execution only brokers. Affected dealer accounts will only be permitted to purchase or hold securities of the following series of SLGI mutual funds, each of which does not pay trailing commissions.

The authorized fund series include:

F Series,

FT5 Series,

FH Series,

FT8 Series,

F5 series,

IS Series,

F8 Series,

Series O and

OH series.

SLGI Asset Management is implementing this change in anticipation of the regulatory requirement mandated by the Canadian Securities Administrators to end the payment of trailing commissions to affected brokers which comes into effect on June 1, 2022.

Closing of fund series to new purchases

Effective September 1, 2021, Series O shares of the following Funds can no longer be purchased or switched in:

Fund name

Sun Life Granite Balanced Class

Sun Life Granite Balanced Growth Class

Sun Life Granite Conservative Class

Sun Life Granite Growth Class

Sun Life Granite Moderate Class

Sun Life MFS Global Growth Class

Sun Life MFS International Opportunities Class

Sun Life MFS American Growth Class

Sun Life Money Market Class

Reductions in the risk rating of funds

In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, SLGI Asset Management reviews the risk ratings of its Funds at least annually, as well as when a Fund experiences a material change. From July 14, 2021, the following four funds will reduce their risk rating:

Funds

Previous

Risk Assessment

New

Risk Assessment

Sun Life MFS Global Growth Class

Way

Low to medium

Sun Life MFS International Value Fund

Way

Low to medium

Sun Life Milestone 2025 Fund

Low to medium

Low

Sun Life MFS Low Volatility International Equity

Funds

Way

Low to medium

About SLGI Asset Management Inc.

SLGI Asset Management Inc. is a subsidiary of Sun Life Financial Inc. It provides Canadians with a diverse range of mutual funds and innovative portfolio solutions, enabling them to pursue their financial goals at every stage of life. We unite the strength of one of the from Canada the most trusted names in financial services with some of the best asset managers from around the world to deliver a truly global investment platform. From March 31, 2021, SLGI Asset Management Inc. manages $ 33.7 billion on behalf of institutional and retail investors 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 insurance, wealth and asset management solutions to individuals and businesses. Sun Life operates in a number of markets around the world, including Canada, United States, the UK, Ireland, Hong Kong, The Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. From March 31, 2021, Sun Life had total assets under management of $ 1,304 billion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. traded on the Toronto (TSX), new York (NYSE) and Philippine Stock Exchanges (PSE) under the symbol SLF.

Contact person for media relations:

Alexandra locke

Manager, Corporate Communications

T. 416-408-7357

[email protected]

SOURCE SLGI Asset Management Inc.

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