January 21, 2019

Revised benchmark returns for SLGI Funds

Please be advised that it was recently identified that incorrect benchmark returns were reported to Morningstar® for the months of April, May and June 2018 for the segregated funds named below (the Funds):

Sun Life Granite Target Risk Segregated Funds
Sun Life Multi-Strategy Target Return Segregated Fund
Sun Life BlackRock Canadian Balanced Segregated Fund
Sun Life Dynamic Strategic Yield Segregated Fund
Sun Life Granite Income Segregated Fund
Sun Life Granite Enhanced Segregated Income Fund
Sun Life MFS U.S. Growth Hedged Segregated Fund
Sun Life MFS U.S. Value Hedged Segregated Fund

An internal review by Sun Life Global Investments (SLGI) identified that the issue was due to an error in the data upload process to the Morningstar® database. The error was corrected on November 25, 2018.

SLGI recognizes the importance of accurate performance reporting and apologizes for this error. SLGI has undertaken an in-depth review of their benchmark calculation, validation and dissemination processes, which is expected to lead to greater accountability and the prevention of reporting errors in future.

How does this impact you and your clients?

It is important to note that the Funds’ returns have always been reported correctly; only the Funds’ benchmark returns were revised. Revised benchmark returns are available on the plan sponsor and plan member services website and on Morningstar. 

There is no action required of you or your clients as a result of this update.

Please contact your Sun Life Financial Group Retirement Services representative.