Revised SIP&G for CI Portfolio Series Growth & Maximum Growth
June 9, 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).
In March 2014, CI Investments (CI) updated the Statement of Investment Policies & Guidelines (SIP&G) for the CI Portfolio Series Growth and Maximum Growth mandates.
The revised SIP&G includes:
- a target allocation split between equity and income funds,
- updated underlying CI fund names, and
- target percentage allocation for the fixed income component.
CI decided to gradually move assets to the Marret High Yield Bond (ultimately 3% in the Growth and 5% in the Maximum Growth). CI may make changes to the allocated percentages over time; the allocation to each of the other underlying funds is being proportionately reduced.
Following a strong market rally fuelled by price earnings expansion, CI believes that it was prudent to reduce equity within the equity centric portfolios and allocate some assets to high yield fixed income that will likely continue to benefit from an improving economy and low default rates.
How will this change impact you and your plan members?
There is no impact to you or your plan members as a result of these changes.
To view changes to the weighting within each portfolio refer to the new SIP&G posted online. There were no changes made to the SIP&G of the other CI Portfolio Series at this time.
CI's SIP&G outline the investment objectives and strategy for the investment funds managed by CI. A copy of the revised SIP&G is available on the Sun Life Financial Plan Sponsor Services website at www.sunlife.ca/sponsor. When logged into the website, under the Administration and reporting tab, select Group Retirement Services, then on the top navigation menu select Investments >Governance Reports.
Please contact your Sun Life Group Retirement Services representative.