Organizational Changes at Fidelity Investments Canada

May 12, 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).

Fidelity Investments Canada ULC (Fidelity) announced that effective March 7, 2014, David Wolf joined Derek Young and Geoff Stein as a co-portfolio manager on the Fidelity Canadian Asset Allocation fund. Mr. Wolf joined the firm in September 2013 as a portfolio manager on Fidelity's Global Asset Allocation team.

The firm also announced that as of March 31, 2014, Mr. Stein assumed the role of lead portfolio manager on the fund, with Mr. Wolf acting as co-portfolio manager - responsible for providing his macro-economic views. Mr. Stein will have responsibility for the final decision making on the fund. Mr. Young will no longer co-manage the fund and will continue in his role as President of Fidelity's Global Asset Allocation division going forward.

The asset allocation strategy for the fund is provided by the Canadian Asset Allocation Team, consisting of: Geoff Stein (lead PM), David Wolf (co-PM), Daniel Dupont, Hugo Lavallée, Darren Lekkerkerker, Don Newman, Joe Overdevest, Brian Miron, and Catriona Martin.

Before joining Fidelity in September 2013, Mr. Wolf served as adviser to Governor Mark Carney and secretary to the Governing Council at the Bank of Canada (BoC) from 2009 to 2013. Among his BoC responsibilities, Mr. Wolf oversaw the analysis supporting the monetary policy decision process and represented Canada’s central bank on numerous international bodies. Previously, Mr. Wolf was head of Canadian economics and chief strategist at Merrill Lynch from 2005 to 2009. Since he began working in the investments industry in 1997, Mr. Wolf has held progressively senior research positions at RBC Capital Markets in Canada and the U.K. between 1997 and 2005.


Please contact your Sun Life Financial Group Retirement Services representative.