Mapping assets out of the Trimark Canadian Bond Segregated Fund
Sun Life Financial regularly reviews the fund line-up of all our products, and as a result of a recent review we will be removing the Trimark Canadian Bond Segregated Fund from our platform. This change comes as a result of significant changes in the Trimark fixed income team, low client demand and a greater degree of confidence in the replacement manager. Assets currently in the Trimark Canadian Bond fund will be automatically mapped to the PH&N Bond Segregated Fund unless action from the sponsor is taken. Assets currently in the Trimark Canadian Bond fund will be automatically mapped to the PH&N Bond Segregated Fund unless you take action before February 28, 2018.
Action may be required
The PH&N Bond Segregated Fund has been selected as the default option into which your plan's Trimark Canadian Bond Segregated Fund assets will be mapped on May 29, 2018. If you are satisfied with the PH&N Bond Segregated Fund for your plan, there is no action required by you at this time. If you would like to map your plan's assets into an alternative fund, you will need to make this selection by February 28, 2018 (please contact your Sun Life Financial Group Retirement Services representative).
How will this affect plan members?
On May 29, 2018, any assets remaining in, and any future contributions directed to the Trimark Canadian Bond Segregated Fund will be automatically transferred to the PH&N Bond Segregated Fund. When the changes are implemented, plan members will see a sale of the discontinued fund and the purchase of the replacement fund reflected in their accounts. This change will not result in a taxable capital gain or loss for plan members if their assets are invested in a registered product. Plan members are able to change their investments at any time prior to the automatic transfer on May 29, 2018. If your plan does not currently hold the PH&N Bond fund it will be added before the fund sweep.
About the new fund
The PH&N Bond Segregated Fund is managed by PH&N which is widely viewed as one of Canada's leading fixed income managers due to their strong risk controls, deep team and long track record of success. PH&N manages $96 billion as of March 31, 2017 and is owned by RBC.
Please contact your Sun Life Financial Group Retirement Services representative.