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, which is established as a segregated fund under the Insurance Companies Act (Canada).

Effective October 1, 2022, the Franklin Bissett equity team began reporting into ClearBridge Investments (ClearBridge).  Franklin Bissett and ClearBridge are both part of the Franklin Templeton organization. ClearBridge is a global equity manager with $146 billion in assets under management. Clearbridge joined Franklin Templeton in 2020 when it acquired Legg Mason. 

The firm indicated that the change will allow the Franklin Bissett equity team to leverage ClearBridge’s business management, operational and distribution capabilities.  The Franklin Bissett equity team also has access to other ClearBridge resources, such as Product Specialists. This will allow the Franklin Bissett equity team to focus more of their time on portfolio management.      

There are no plans to integrate the Franklin Bissett equity team into the ClearBridge’s investment team.  The Franklin Bissett equity team will remain independent in managing their investment strategies. The team will continue to report into CIO Garey Aitken. Aitken will report to Scott Glasser, CIO of ClearBridge. There are no changes to Franklin Bissett funds’ investment objectives, processes, or philosophy due to this organizational change.   

The change doesn’t affect the Franklin Bissett Fixed Income team. Franklin Bissett’s Fixed Income team has been integrated with the Franklin Templeton Fixed Income team for over a decade.   

Sun Life GRS Investment Solutions’ view

We don’t expect any impact from this organizational change to the Franklin Bissett Canadian Equity and Franklin Bissett Canadian Balanced segregated funds. 

We take comfort that the Franklin Bissett Equity team:

  • Remains independent and retains their funds’ investment objectives, processes and philosophy 
  • Can focus on portfolio management, as they move their business management activities to Clearbridge 

Do you have to take any action?

You and your members don’t have to take any action as a result of these changes.

Questions?

Please contact your Sun Life Group Retirement Services representative.