Sun Life Global Investments adds new 2060 funds to Granite Target Date and Multi-Risk Target Date Fund series
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).
Sun Life Global Investments (Canada) has added new target date funds to its Granite Target Date series of funds. Effective July 8, 2019, we will add the following funds to Sun Life’s Core Investment Platform:
- Sun Life Granite 2060 Segregated Fund
- Sun Life Granite Conservative 2060 Segregated Fund
- Sun Life Granite Moderate 2060 Segregated Fund
- Sun Life Granite Aggressive 2060 Segregated Fund
We will automatically add the Granite 2060 funds to plans that currently offer Granite or Granite Multi-Risk Target Date funds on July 8, 2019.
We will also add these funds to the Group Choices Savings Plan.
Investment managers periodically add new longer-dated funds to their target date series to match the time horizons of younger plan members. Plan members expecting to retire around the year 2060 may benefit from these new funds.
How will this impact you and your plan members?
No action is required by you or your plan members. Plan members can still access the series of funds available within their plan through mySunLife.ca.
About the Granite series of target date funds
The Sun Life Granite series of Target Date Funds include the Granite Target Date and Granite Multi-Risk Target Date Funds. The Granite Multi-Risk Target Date Funds offer three distinct risk profiles: Conservative, Moderate and Aggressive. The Granite Moderate investment mix, which changes as the fund nears maturity, is the same as the Sun Life Granite Target Date Segregated Funds.
SLGIC designed the Granite Target Date Funds to deliver broad diversification by asset class, geographic region, industry, manager and style, while also including niche asset classes such as real estate and infrastructure, and a mix of passive and active investments. SLGIC’s portfolio management team monitors the portfolios and continuously rebalance them to the target investment mix as needed based on internally managed rebalancing thresholds.
Please contact your Sun Life Group Retirement Services representative.
A copy of the revised SIP&P is available on Sun Life’s Plan Sponsor Services website at www.sunlife.ca/sponsor. When logged in to the website, under the Administration and Reporting tab, select Group Retirement Services, then on the top navigation menu select Investments > Governance reports.