SLGI Asset Management Inc. proposes changes to certain mutual funds
TORONTO, March 8, 2024 /CNW/ - SLGI Asset Management Inc. ("SLGI Asset Management") announced today its intent to make changes to certain funds through a fund merger and an investment objective change. The proposed changes are designed to streamline the SLGI Asset Management platform for advisors and investors.
Investment objective change
SLGI Asset Management is proposing to change the investment objective of the Sun Life Amundi Emerging Markets Debt Fund (the "Fund"). The change is subject to unitholder approval. If approved:
The Fund's investment objective will be to seek total return through investment in investment grade and non-investment grade debt securities of issuers located anywhere in the world,
The Fund will be renamed Sun Life MFS Global Core Plus Bond Fund, to better align the name of the Fund with its new investment objective,
The Fund's sub-advisors, currently Amundi (UK) Limited and Amundi Canada Inc., will be replaced with MFS Investment Management Canada Limited, and
Management fees will be reduced by 0.77 percentage points for Series A and 0.42 percentage points for Series F, reflected in the table below.
Series | Current management fee | New management fee |
A | 1.70 % | 0.93 % |
F | 0.85 % | 0.43 % |
Fund merger
Upon successful completion of the investment objective change, SLGI Asset Management intends to merge Sun Life Global Tactical Yield Private Pool (the "Pool") into the Fund, subject to unitholder approval. The proposed merger will be executed on a taxable basis.
Unitholder voting
The required unitholder approvals will be sought at special meetings to be held on or about May 31, 2024, for unitholders of record as of April 15, 2024. A Notice-and-Access document, which outlines the procedures for accessing the management information circular containing full details of the proposals, will be mailed on or about April 26, 2024, to unitholders of record on the record date. The management information circular will also be made available following the mailing date on www.sedarplus.ca. All costs and expenses associated with the mergers will be borne by SLGI Asset Management. Subject to these approvals, SLGI Asset Management will make the above proposed changes after the close of business on or about June 28, 2024.
About SLGI Asset Management Inc.
SLGI Asset Management Inc. is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada's most trusted names in financial services, Sun Life, with some of the best asset managers from around the world to deliver a truly global investment platform. As of December 31, 2023, SLGI Asset Management Inc. manages $36.1 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit www.sunlifeglobalinvestments.com.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2023, Sun Life had total assets under management of $1.40 trillion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars.
Media Relations Contact:
Laura Torchia
Manager, Corporate Communications
T. 416-818-5613
laura.torchia@sunlife.com
SOURCE SLGI Asset Management Inc.
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