TORONTO, May 25, 2018 /CNW/ – Sun Life Global Investments (Canada) Inc. (“Sun Life Global Investments”) and Excel Funds Management Inc. (“Excel”) today announced receipt of unitholder approval to proceed with fund changes previously announced on February 28, 2018. The approved changes are outlined below.
Fund mergers
Effective June 15, 2018, (the “Fund Merger Date”), select Excel funds and Sun Life Global Investments funds (collectively, the “Terminating Funds”) will each merge into a Sun Life Global Investments fund (collectively, the “Continuing Funds”). Securities of the Terminating Funds are no longer available for purchase, with the exception of purchases made under pre-authorized purchase plans existing prior to May 25, 2018. Pre-authorized purchase plans that were already in place prior to May 25, 2018 will continue uninterrupted until 4:01 p.m. ET on June 15, 2018. The Terminating Funds and Continuing Funds are outlined in the table below:
|
Terminating Funds |
Continuing Funds |
|
Excel Emerging Markets Fund |
Sun Life Schroder Emerging Markets Fund |
|
Excel Chindia Fund |
Sun Life Schroder Emerging Markets Fund |
|
Sun Life MFS Canadian Equity Fund |
Sun Life MFS Canadian Equity Growth Fund |
|
Sun Life MFS Canadian Equity Value Fund |
Sun Life MFS Canadian Equity Growth Fund |
The unitholder meeting for the Excel Money Market Fund was adjourned as quorum was not met. As outlined in the information circular, the adjourned meeting will be held on Friday, June 1, 2018 at 10:30 a.m. ET. No changes are being made to Excel Money Market Fund at present.
Implementation of fixed-rate administration fees
Effective June 18, 2018, fixed-rate administration fees will be implemented for the following Excel Funds: Excel China Fund, Excel Emerging Markets Balanced Fund, Excel High Income Fund, Excel India Balanced Fund, Excel New India Leaders Fund, Excel India Fund. In addition, all Excel funds will adopt Sun Life Global Investments’ form of declaration of trust.
Changes to Sun Life MFS Canadian Equity Class
Effective June 18, 2018, Sun Life MFS Canadian Equity Class will change its investment objectives to invest primarily in Sun Life MFS Canadian Equity Growth Fund. The fund will be renamed Sun Life MFS Canadian Equity Growth Class and its strategies will be changed to align with Sun Life MFS Canadian Equity Growth Fund. There will be no impact to purchases or redemptions on June 15, 2018 as a result of these changes.
Full details on the fund mergers and fixed-rate administration fees can be found in the Excel Funds information circular. Full details on the changes to Sun Life MFS Canadian Equity Class can be found in the Sun Life Global Investments information circular. On or by June 5, 2018, the Excel Funds information circular will be hosted on the Sun Life Global Investments website. This information is also available on SEDAR at www.sedar.com.
About Sun Life Global Investments (Canada) Inc.
Sun Life Global Investments 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 with some of the best asset managers from around the world to deliver a truly global investment platform. Sun Life Global Investments manages $21 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life Financial group of companies. For more information, visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.
About Sun Life Financial
Sun Life Financial Inc. is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial 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 March 31, 2018, Sun Life Financial had total assets under management of $979 billion. 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.
About Excel Funds Management Inc.
Founded in 1998, Excel Funds Management Inc. is an investment fund manager offering actively-managed core and specialty investment solutions to retail investors, including access to the largest suite of emerging markets investments in Canada. Excel Funds’ strategic alignment with active, on-the-ground sub-advisors who work in collaboration with its in-house managers, enhances the depth and breadth of its portfolio management team. Excel Funds has access to a global network of over 700 portfolio managers and 200 research analysts, who provide firsthand knowledge of the markets in which they invest. For more information, please visit www.excelfunds.com.
Excel Funds Management Inc. is a division of Sun Life Global Investments (Canada) Inc. Sun life Global Investments (Canada) Inc. is a member of the Sun Life Financial group of companies.
Note to Editors: All figures in Canadian dollars.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
