Beutel Goodman Fixed Income Team Changes

November 17, 2014

Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans. 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).

Beutel, Goodman & Company Ltd. (Beutel Goodman) recently announced that effective March 31, 2015, Bruce Corneil, Managing Director of Fixed Income, will be retiring from the firm.

Going forward, the fixed income team will be led by David Gregoris, Vice President, Fixed Income, who has worked alongside Mr. Corneil since 1994 and follows the same fixed income investment discipline.

The Beutel Goodman fixed income team is responsible for the management of the following funds on the Sun Life Financial Core investment platform:

  • Sun Life Financial Universe Bond Fund (sub-advised by Beutel Goodman)
  • Sun Life Financial Long Bond Fund (sub-advised by Beutel Goodman)
  • Sun Life Financial Short Bond Fund (sub-advised by Beutel Goodman)
  • Beutel Goodman Balanced Fund (fixed income portion)
  • Beutel Goodman Income Fund (no longer marketed on the Core investment platform; governance continues indefinitely)

Sun Life Financial will continue to monitor developments on Beutel Goodman’s fixed income team, including depth of resources, given Bruce Corneil’s upcoming retirement in March 2015. His successor, Mr. Gregoris, has worked alongside Mr. Corneil since 1994, so we have comfort in the lead portfolio manager succession plans. Other fixed income team members with long tenures at the firm, who have over 20 years of combined average experience, add depth to the team. The firm has confirmed that there are no plans to replace Mr. Corneil.

Background
Mr. Gregoris  joined Beutel Goodman in 1992 and has over 25 years of investment experience. He is a portfolio manager and strategist, responsible for quantitative analysis, immunized and dedicated portfolios. Prior to joining Beutel Goodman, Mr. Gregoris worked at TAL, where he was in charge of fixed income trading and a fixed income portfolio manager. David is a graduate of the University of Windsor and is a CFA charterholder.

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