Bissett Canadian Balanced Fund benchmark changeMay 22, 2012
Plan sponsors may wish to consider whether this investment update 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).
Effective April 1, 2012, Bissett Investment Management (Bissett) has revised its Investment Objectives and Strategies document to reflect a benchmark change for the Bissett Canadian Balanced Fund.
What has changed?
Prior to April 1, 2012, the small cap component of the Bissett Canadian Balanced Fund was the BMO Nesbitt Burns Canadian Small Cap Index. Effective April 1, 2012, this has changed to the S&P/TSX Small Cap Index. The benchmark weighting of the small cap component of the fund remains the same as previously, at five per cent, and there are no other changes to the benchmark components or weighting of the fund as a result of this change.
We will share this information with impacted plan members via Morningstar®.
What is the reason for this change?
Bissett believes that the S&P/TSX Small Cap Index provides more timely, complete and accurate performance data as compared to the BMO Nesbitt Burns Canadian Small Cap Index. This data is used by Bissett to perform attribution analysis.
Bissett’s Investment Objectives and Strategies document outlines the investment objectives, strategies and guidelines for the investment funds managed by Bissett. A copy of the revised document 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 Financial Group Retirement Services representative.