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).
Since its addition to Sun Life Financial's core investment platform, the Sun Life Sionna Canadian Small Cap Equity Segregated Fund (the "Fund") has been managed by Sun Life Global Investments ("SLGI") and sub-advised by Brandes Investment Partners & Co ("Brandes" 1). Starting on September 13, 2018, SLGI will restructure its arrangement with Brandes and as such, SLGI will close the Sun Life Sionna Canadian Small Cap Equity Class and transfer all institutional assets to the Sionna Canadian Small Cap Equity Fund, a fund managed by Brandes. This change provides SLGI with increased operational flexibility in managing its investment solutions, including its multi-manager funds. This transition is expected to be completed by November 16, 2018.
As a result of this change, beginning in November 2018, the Fund will hold units of the Sionna Canadian Small Cap Equity Fund directly; SLGI will no longer manage the Fund. This change will result in a taxable event for non-registered investors. At that time, the name of the Fund will change to Sionna Canadian Small Cap Segregated Fund, reflecting the new structure of the Fund.
There are no other changes expected in the investment objectives, process or team managing the Fund. The Fund will continue to be offered on the core investment platform and no action is required by you or your plan members.
Questions?
Please contact your Sun Life Financial Group Retirement Services representative.
1 Bridgehouse Asset Managers is a trade name for Brandes Investment Partners & Co. Bridgehouse has hired Sionna Investment Managers Inc. as portfolio sub-advisor for the Sun Life Sionna Canadian Equity Small Cap Fund.
