2055 funds added to the Sun Life Financial Granite Target Date and Multi-Risk Target Date Fund Series'

July 6, 2015
 

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 fund in accordance with the Insurance Companies Act (Canada).

Sun Life Global Investments has added a 2055 fund to their target date suite of funds. Effective July 7, 2015 the following funds will be available on Sun Life Financial’s Core investment platform: 

  • Sun Life Financial GraniteTM 2055 Segregated Fund
  • Sun Life Financial GraniteTM Conservative 2055 Multi-Risk Segregated Fund
  • Sun Life Financial GraniteTM Moderate 2055 Multi-Risk Segregated Fund
  • Sun Life Financial GraniteTM Aggressive 2055 Multi-Risk Segregated Fund

How will this impact you and your plan members?
No action is required by you or your plan members. Plans that currently offer the Sun Life Financial Granite Target Date Funds to their plan members will automatically have the Granite 2055 Segregated Fund added.

Plans that currently offer the Sun Life Financial Granite Multi-Risk Target Date Fund series in five-year increments will have the Granite Conservative 2055 Multi-Risk Segregated Fund and the Granite Aggressive 2055 Multi-Risk Segregated Fund added to their plans; these funds will not be added to plans who only offer the ten-year increment version of the Granite Multi-Risk Target Date series.

Plan members will continue to have access to the series of Funds available within their plan through mysunlife.ca.

The Granite Target Date funds, similar to many other target date suite of funds, are an evolving series, meaning earlier dated funds mature and automatically roll into the most conservative option – in this case, the Sun Life Financial Granite Retirement Fund - when the target year is reached. Similarly, later dated funds become available for younger plan members. We make this process easier for plan sponsors offering target date series from our Core investment platform, by facilitating the maturity process, as well as automatically adding later-dated funds as they become available.

Updated SIP&G
The updated Statement of Investment Policies and Guidelines (SIP&G) will be available on Sun Life Financial's Plan Sponsor Services website at www.sunlife.ca/sponsor in July 2015. 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.

About the Sun Life Financial Granite Target Date Funds
The Sun Life Financial Granite series of Target Date Segregated Funds include the Granite Target Date and Granite Multi-Risk Target Date Funds. The Granite Multi-Risk Target Date Funds offer three distinct glidepaths based on risk tolerance: Conservative, Moderate and Aggressive. The Granite Moderate glidepath is the glidepath for the Sun Life Financial Granite Target Date Segregated Funds.

The Granite Target Date Funds are designed to deliver broad diversification by asset class, geographic region, industry, manager and style, while also incorporating niche asset classes such as real estate and infrastructure, and a mix of passive and active investments. The portfolios are continuously monitored and rebalanced to the target asset mix as needed based on internally managed rebalancing thresholds.

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