CI Signature Income and Growth Fund - Benchmark Change

September 30, 2013

Plan sponsors may wish to consider whether this investment update has any implications for the investment options available within their plan.

Sun Life Financial was recently made aware that effective April 1, 2013, CI Investments (CI) revised the benchmark for the CI Signature Income & Growth Fund Class I, which is the underlying fund of the CI Signature Income & Growth Fund offered on our core investment platform. The previous 60% allocation to the S&P/TSX Composite Index was split into 30% S&P/TSX Composite Index and 30% MSCI All Country World Index.

Below are benchmark allocations before, and as of April 1, 2013:
 

Benchmark allocations prior to April 1, 2013:

  • 60% S&P/TSX Composite Total Return Index
  • 10% S&P/TSX Income Trust Total Return Index
  • 15% DEX Universe Bond Total Return Index
  • 15% Merrill Lynch U.S. High Yield Master II Total Return Index (USD)

New benchmark allocations as of April 1, 2013:

  • 30% MSCI All Country World Total Return Index
  • 30% S&P/TSX Composite Total Return Index
  • 10% S&P/TSX Equity Income Total Return Index
  • 15% DEX Universe Bond Total Return Index
  • 15% Merrill Lynch U.S. High Yield Master II Total Return Index (USD)

The change was made in order to better reflect the fund's allocation to foreign equities. The benchmark returns reported in Morningstar were linked to reflect the previous benchmark allocations until March 31, 2013 and the new benchmark thereafter. Any Morningstar reporting run between May 15, 2013 and August 15, 2013 will have shown incorrect returns for the CI Signature Income & Growth Fund's benchmark. Reporting runs after August 15, 2013 show the revised benchmark returns based on the new benchmark allocations. The Q3 2013 (September 30, 2013) quarterly fact sheet will be available in early November 2013. The benchmark description will be updated to reflect the new allocations and the benchmark returns will be revised. Please note there was no impact to the returns of the CI Signature Income & Growth Fund, as only benchmark returns were revised.

No action is required as a result of this change.

Questions?
Please contact your Sun Life Financial Group Retirement Services representative.