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).

In October 2021 we communicated changes to the team managing the Fiera Global Equity, Fiera International Equity and Fiera U.S. Equity funds (the Funds). Nadim Rizk and the rest of the investment team would be leaving Fiera Capital Corporation (Fiera Capital) to establish their own firm - StonePine Asset Management Inc. (StonePine). Fiera and StonePine had agreed to set up a sub-advisory partnership. Rizk and his investment team will continue to manage the Funds.

StonePine began operations in December 2021 with 16 professionals (9 investment, 4 operations) moving over from Fiera Capital. StonePine also hired a Chief Operations Officer, Chief Compliance Officer and Head of Finance.

StonePine and Fiera Capital finalized the sub-advisory partnership in January 2022 as expected.

The Funds are therefore now sub-advised by StonePine. To reflect this change, Fiera Capital updated the Statement of Investment Policies and Procedures (SIP&P) for the Funds. There are no material changes to the investment team, process or strategy.

Sun Life GRS Investment Solutions’ view

The Funds remain on our Watch List in the Additional Monitoring category. We’ll continue to monitor StonePine and the Funds in upcoming quarters and will provide updates as necessary.

Questions?

Please contact your Sun Life Group Retirement Services representative.