2060 fund added to the BlackRock LifePath® Index Target Date Fund suite
BlackRock Asset Management Canada Limited (BlackRock) has added a 2060 fund to its LifePath® target date fund suite. Effective November 9, 2018, the BlackRock LifePath® 2060 Target Date Segregated Fund (LifePath 2060) will be available on Sun Life Financial's Core investment platform. Plans that currently offer the BlackRock LifePath® Series of Target Date Funds to their plan members will automatically have LifePath 2060 added on November 9, 2018. Plan members expecting to retire around the year 2060 may benefit from this new fund. The LifePath 2060 fund's asset mix will initially mirror the LifePath 2055 fund but will diverge over time.
About the BlackRock® LifePath series of target date funds
The BlackRock LifePath® Series of Target Date Funds use a fund-of-funds approach to create a balanced asset mix. BlackRock does not tactically manage the asset mix. Assets are invested in passive, index-replication funds, providing exposure to various asset classes including: Canadian equities, U.S. equities, international equities (developed and emerging markets), fixed income (domestic and foreign), Real Estate Investment Trusts (REITs), commodities, alternative investments, and cash and equivalents. The series is available with target maturity dates in 5-year intervals (Retirement and 2020 to 2060). Members select the portfolio that most closely aligns with when they wish to retire. Each fund gets more conservative as it moves closer to its maturity. At maturity, each fund moves into the Retirement Fund. The Retirement Fund has a conservative asset mix designed to provide income and moderate long-term growth of capital for investors beginning to withdraw their money.
How will this impact you and your clients?
No action is required by you or your clients.
Please contact your Sun Life Financial Group Retirement Services representative.