Connor, Clark & Lunn Group Bond Fund Revised Statement of Investment Policies and Procedures

July 20, 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 fund listed below, which is established as a segregated fund in accordance with the Insurance Companies Act (Canada).

Effective February 2015, Connor, Clark & Lunn Investment Management Ltd. (CC&L) revised its Statement of Investment Policies and Procedures (SIP&P) for the CC&L Group Bond Fund.

The SIP&P was amended to remove the allowance of high yield corporate bonds, and to state that debt securities of governments and corporations must carry a minimum BBB rating at the time of purchase. Previously, the fund was permitted to hold a maximum of 7% in High Yield Corporate Bonds.

CC&L noted that the portfolio has not had exposure to high yield bonds for some time. The revised constraints are flexible enough to allow the team to take sufficient credit risk.

How does this affect you and your plan members?
There is no action required, or impact to you or your plan members as a result of this update.

Please contact your Sun Life Financial Group Retirement Services representative.