Revised SIP&G: Sun Life Financial Granite Series of Target Date and Multi-Risk Target Date Segregated Funds

March 3, 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).

Effective January 31, 2014, the Statement of Investment Policies and Goals (SIP&G) for Sun Life Financial's Granite Series of Target Date and Multi-Risk Target Date Segregated Funds (Granite Target Date funds) has been updated with two slight changes in the Rebalancing section of the SIP&G.

Summary of changes:

  • At the asset mix (equity/bond) level, automatic rebalancing occurs if a limit of +/- 10 % is exceeded on any of the Funds. This was changed from the previous range of +/-5%. Sun Life Global Investments (Canada) (SLGI) believes that this allows for great opportunity to add value from a tactical perspective.
  • SLGI has removed cash and money market out of all of the ranges, so that this asset class does not count towards the +/-10% ranges, and has inserted the following statement: "Money Market will be allowed to go from 0% to 20% and is not considered part of the above the ranges."  This gives the ability to become defensive when SLGI believes that there uncertainty in both equity and bond markets.

No other changes were made to the SIP&G at this time.  A copy of the revised SIP&G will be available on Sun Life Financial's Plan Sponsor Services website at 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.

How will this change impact you and your plan members?
There is no impact to you or your plan members as a result of these changes. The Granite Target Date funds offer your plan members a selection of pre-built funds offering a range of asset allocations with different time horizons. Guidelines are regularly reviewed by SLGI and may be changed as regulatory and/or market conditions dictate.

Please contact your Sun Life Financial Group Retirement Services representative.