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. They are established as segregated funds under the Insurance Companies Act (Canada).
Effective October 31, 2021, Jean Masson, Managing Director, Quantitative Equity Team, will be retiring from TD Asset Management Inc. (TDAM). Masson has led the TDAM Quantitative Equity Team over his 24-year tenure with TDAM. He manages many strategies including the TDAM Low Volatility Canadian Equity, TDAM Low Volatility U.S. Equity and TDAM Low Volatility Global Equity funds (the funds) on our core investment platform.
Starting August 1, 2021, Julien Palardy, Vice President & Director, Quantitative Equity, will take on Masson’s leadership role of the Quantitative Equity Team and become Managing Director. TDAM believe this is a natural progression for Palardy, who heads the Quantitative Group portfolio management team. He will now also oversee the integrated modeling, research and management of the Quantitative strategies. Over the course of his 15 years with TDAM, Palardy has been mentored by Masson to succeed him. They will continue to collaborate to help ensure a smooth transition. Palardy will report into David Sykes, Managing Director and Head of Public Equities, TDAM.
Starting August 1, 2021, Louis-Philippe Roy, Vice President & Director, will become lead Portfolio Manager for the funds. Palardy previously led these funds. Roy is a portfolio manager on TDAM's Quantitative Equity team. He started his career in 2008 and joined TDAM in 2016.
Sun Life GRS Investment Solutions’ view
Sun Life’s GRS Investment Solutions team view the retirement of Masson as a loss to TDAM. This is due to Masson being a founding member of TDAM’s low volatility strategies. He joined the firm in 1997. In addition, he has been central to building out and evolving the process over the past two decades. We believe the team will miss his presence from a strategic perspective. However, Masson has been mentoring Palardy for the past five years in anticipation of his eventual retirement.
We take comfort in Roy assuming the role of lead portfolio manager given his experience. His familiarity in managing the firm’s low volatility strategies also strengthen this sentiment.
We continue to monitor the funds and will provide updates if required.
Please contact your Sun Life Group Retirement Services representative.