Sun Life Global Investments makes changes to mutual funds

By The IJ Staff | July 25 2017 09:45AM

Photo: Freepik

Sun Life Global Investments (Canada) announced on July 24 that it will make changes to some of its mutual funds.

On or about Oct. 2, Schroder Investment Management North America Inc. will take over the portfolio sub-advisory responsibilities for Sun Life Sentry Global Mid Cap Fund. The fund will then be called Sun Life Schroder Global Small Companies Fund.

Fund mergers

In addition, on or about Oct. 27, Sun Life MFS Canadian Equity Fund and Sun Life MFS Canadian Equity Value Fund will be merged into Sun Life MFS Canadian Equity Growth Fund. Effective July 24, the funds were capped to investors, however any pre-authorized chequing plans, which had already been in place, have not been interrupted. They will automatically transfer to the merged fund.

Also as of about October 27, Sun Life Sentry Conservative Balanced Fund will be merged into Sun Life Granite Income Portfolio as long as it receives all the necessary approvals. The initial fund will be capped to new investors on Oct. 6. If approved, unitholders will receive the equivalent series units of the new fund.

Redeem or switch holdings

If ever the merger is not approved, the fund will be terminated as of about Oct. 27. If this were to occur, unitholders would be able to redeem or switch their holding in the fund.

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