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 fund listed below. It is established as a segregated fund under the Insurance Companies Act (Canada).

In April 2021, TD Asset Management Inc. (TDAM) announced that starting August 20, 2021, Grant Stahl will retire. Stahl is the lead portfolio manager of the TD Greystone U.S. Equity fund (U.S. Equity). This fund is a component of the TD Greystone Balanced fund on our core investment platform.

Himanshu Sharma, Head of Fundamental Research will become the lead portfolio manager of U.S. Equity. Sharma is currently a co-lead portfolio manager for U.S. Equity. He joined TDAM in 2006, working on the U.S. Equity team, and has over 23 years of industry experience. Additionally, Terence Chung will step into Sharma’s role as a co-lead portfolio manager on U.S. Equity. Chung started his career in 2006 and has a background as a research analyst/associate with several different investment firms. He joined TDAM in 2017 as a sector analyst covering Industrials. TDAM believe that based on his performance as a sector analyst, it’s a natural step for him to have a formal co-lead role.

Sun Life GRS Investment Solutions’ view

Stahl joined Greystone in 1990 and is a long-tenured veteran of the firm. Sharma is a natural successor to Stahl. He has been working with Stahl since 2006, except for a brief period where he was managing Canadian equities. The investment process requires the lead and co-lead portfolio managers to reach a consensus. Sharma has solid experience working under this model with Stahl. The lead portfolio manager has ultimate decision-making power in rare cases where there isn’t a consensus.

Sun Life’s GRS Investment Solutions team don’t have concerns about the retirement of Stahl. This is because we expected his retirement. We continue to monitor the TD Greystone Balanced fund’s investment team and will provide updates if required.

Questions?

Please contact your Sun Life Group Retirement Services representative.