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 in accordance with the Insurance Companies Act (Canada).
On June 25, 2020, MFS Investment Management Canada Ltd. (“MFS”) announced the future retirement of Kevin Beatty, portfolio manager and co-chief investment officer (co-CIO) of equity for the Americas. Effective September 30, 2021, Beatty will relinquish his portfolio management responsibilities on the MFS U.S. Equity strategy.1
Co-portfolio managers Ted Maloney and Alison O'Neill will continue to manage this fund. Beatty will continue to work with MFS as a member of the MFS Investment Advisory Council (IAC), which includes current and former members of MFS' investment leadership team.
While Beatty’s retirement will be a loss for the U.S. equity team, the Sun Life GRS Investment Solutions team is generally comfortable with the change. The long notice period to the change (over one year) and the depth of experience in place on the team should ensure a smooth transition of responsibilities. Maloney has co-managed the MFS U.S. Equity strategy since 2012. O’ Neill has co-managed the strategy since 2018 and sits on the MFS co-CIO leadership team, along with Beatty and four others. Both O’Neill and Maloney joined MFS as analysts in 2005.
MFS confirmed that there are no material changes to the strategy expected due to this change. The Sun Life GRS Investment Solutions team will continue to monitor the transition and provide updates as needed.
Questions?
Please contact your Sun Life Group Retirement Services representative.
