Changes to the Invesco Trimark Fixed Income team

January 6, 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 September 2013, Invesco Canada Ltd. (Invesco) announced that Jennifer Hartviksen, Head of Fixed Income, would assume Lead Portfolio Manager duties on all Trimark Fixed Income mandates, including the Trimark Canadian Bond Fund and the fixed income portion of the Trimark Income Growth Fund.

Since joining the firm in September 2013, Ms. Hartviksen has been active in rebuilding the fixed income team and setting a new vision for its future. Some of the organizational changes that have occurred under Ms. Hartviksen's leadership include: the departure of Gary Lew in September 2013; the hiring of Isam Walji in October 2013; and most recently the departure of Alfred Samson in November 2013. Mr. Walji and Ms. Hartviksen worked together previously at the Canada Pension Plan Investment Board.

Ms. Hartviksen is supported by Anthony Imbesi (17 years industry experience, of which 14 are with Trimark) and Isam Walji (10 years industry experience). Under Ms. Hartviksen's leadership, members of the team will focus on specific credit segments of the market to improve: 1) the effectiveness and depth of their coverage of the credit market; and 2) their ability to achieve stronger results for investors.

Effective immediately, the Trimark fixed income team's coverage responsibility* will be as follows:

  • Health care, basic industries and consumer corporate - Jennifer Hartviksen
  • Telecom, media, technology and consumer corporate - Anthony Imbesi
  • Energy and industrials - Isam Walji

*This coverage may change over time.

The team plans to leverage Invesco's extensive global fixed-income capabilities, which include expertise in corporate credit, high-yield bonds and bank loans.

Trimark has also communicated their plans to hire additional resources on the team in the near future.

Background
In 2013 we announced a number of organizational changes to the Trimark Fixed Income team:

  • March: we announced that Rex Chong, Head of Fixed Income, who had been on sabbatical since July, 2012, decided not to return to the firm and resigned effective January 24, 2013. We also announced that Alfred Samson would continue as lead portfolio manager on the Trimark Canadian Bond Fund and the fixed income portion of the Trimark Income Growth Fund.
  • September: we announced that Gary Lew, Portfolio Manager and analyst with the Trimark Fixed Income team, was no longer with the firm effective August 23, 2013; and that Jennifer Hartviksen joined Invesco as Head of Fixed Income, effective September 3, 2013.
  • October: we announced that Darren McKiernan, a Co-Portfolio Manager of the Trimark Fund, would be leaving the firm.

We will continue to monitor the Trimark Fixed Income team and provide updates as necessary.

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