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Sun Life Global Investments to acquire Excel Funds

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By The IJ Staff | September 08 2017 11:30AM

Rick Headrick, President, Sun Life Global Investments, and Bhim D. Asdhir, President and Chief Executive Officer of Excel Funds.

Sun Life Global Investments (Canada) has announced that it will buy all outstanding shares of both Excel Funds Management and Excel Investment Counsel.

Excel Funds is an investment manager specialized in emerging markets funds with approximately $700 million in assets under management. The acquisition will accelerate the growth of Sun Life Global Investments through new emerging markets offerings and add Excel's exchange-traded funds to its capabilities, said Sun Life Global Investments in a Sept. 7 announcement.

Complementary product line-up

"Since launching in 2010, Sun Life Global Investments has experienced tremendous growth with over $18 billion in assets under management; we actively look for opportunities to expand the range of innovative solutions we offer to our Clients," said Rick Headrick, President, Sun Life Global Investments. "Acquiring Excel Funds is a great fit for us, bringing a complementary product line-up that uses a sub-advisor business model similar to our own."  

Bhim D. Asdhir, President and Chief Executive Officer of Excel Funds, will join the Sun Life Global Investments leadership team following the closing of the transaction. He will be the senior relationship manager for the funds' sub-advisors and brokers.

Emerging markets investing

"Becoming part of Sun Life Global Investments is a natural evolution for Excel Funds which will now be part of a much larger global fund family," said Asdhir. "We are a pioneer in emerging markets investing in Canada and providing Canadian investors with innovative investment solutions using some of the best asset managers from around the world."

Financial and other terms of the transaction will not be disclosed. The transaction is expected to close by the end of the fourth quarter of 2017.

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