Changes to Sun Life Global Investments Portfolio Management TeamNovember 4, 2013
Plan sponsors may wish to consider whether this investment update has any implications for the investment options available within their plan. Sun Life Assurance Company of Canada purchases units of the funds listed below which are established as segregated funds in accordance with the Insurance Companies Act (Canada).
In September 2013, Sun Life Global Investments (SLGI) announced that Jeff Israel, AVP, Portfolio Management, would be leaving the firm effective September 30, 2013. Mr. Israel was a Co-Portfolio Manager on the Sun Life Financial Milestone, Granite Target Date and Target Risk funds and Income strategies. Mr. Israel was also involved in helping to improve SLGI's processes and efficiency and was responsible for oversight functions on the asset allocation funds. SLGI is currently in the process of searching for a replacement for Mr. Israel.
Sadiq S. Adatia, Chief Investment Officer of SLGI, will continue as lead portfolio manager (PM), making all tactical decisions for Milestone, Granite and other SLGI funds. Mr. Adatia is supported by a team of three portfolio analysts: James Wright, CFA; Alykhan Somani; and Kevin Fitzpatrick, who will continue to be responsible for the day-to-day management of Milestone funds including trading, derivatives and bond selection.
Mr. Israel's responsibilities on other asset allocation strategies will be managed by Mr. Adatia who is supported by the 15-member Product & Investment team until a new PM is hired. The Product & Investment team also accesses resources from Sun Life Financial's International Investment Centre, as well as the Sun Life internal investment team, a combined group of over 200 investment professionals.
Mr. Adatia joined SLGI as Chief Investment Officer in July, 2011 bringing with him over 15 years of experience in the investment industry. Prior to joining Sun Life Global investments, he was Chief Investment Officer at Russell Investments, a position he held since 2008. In conjunction with his lead PM role, Mr. Adatia often leverages his investment expertise to provide investment commentary to clients and media.
We will continue to monitor updates on the SLGI portfolio management team and provide updates as necessary.
Please contact your Sun Life Financial Group Retirement Services representative.