Builds on strong expertise in private asset classes and liability driven investing
TORONTO, Feb. 6, 2014 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced the launch of its new asset management business, Sun Life Investment Management Inc., that will specialize in providing private asset class pooled funds (particularly in private fixed income, commercial mortgages and real estate) and liability driven investment strategies for defined benefit ("DB") pension plans and other institutional investors in Canada.
"Through this initiative we will be offering the same types of expertise to third-party clients that we have built over the decades to manage our insurance assets," Dean Connor, President and CEO, Sun Life Financial said. "This broadens the asset management pillar of our enterprise strategy, providing an excellent complement to MFS Investment Management, Sun Life Global Investments ( Canada) Inc. and our Asian asset management businesses. We are starting the new business in Canada and intend to expand it to other markets over time."
The new business will operate under the brand name Sun Life Investment Management, which also encompasses the investment operations of Sun Life Assurance Company of Canada that manages approximately $100 billion in assets, including approximately $38 billion in private asset class investments. Sun Life Investment Management is headed by Steve Peacher, Sun Life Financial's Executive Vice-President and Chief Investment Officer, who leads an investments team of more than 200 employees worldwide.As its initial product suite, Sun Life Investment Management Inc. will offer three pooled funds -- the Sun Life Private Fixed Income Plus Fund, the Sun Life Canadian Commercial Mortgage Fund, and the Sun Life Canadian Real Estate Fund - as well as liability driven investment strategies. These products and services are briefly summarized below and pending final regulatory approvals are expected to be available starting later this quarter or in the second quarter this year.