Sun Life Global Investments reduces select mutual funds' management fees

TORONTO, July 21, 2020 /CNW/ - SLGI Asset Management Inc. ("Sun Life Global Investments") announced today changes to select mutual funds, including reduced management fees and other business-related changes.

Sun Life Global Investments is reducing the management fees on a majority of its fund series by five basis points. The decision to reduce fees comes at a time when financial security – a key pillar of Sun Life's sustainability strategy – is top of mind for many. Now more than ever, Clients are concerned with their financial well-being and Sun Life Global Investments is committed to being part of the solution.

"It's important that we continue to offer funds at a competitive price within the market," said Jordy Chilcott, President, Sun Life Global Investments. "By lowering our fees, we're ensuring advisors and Clients know that we are committed to helping Canadians as they seek greater financial security."

The management fee reductions, effective November 1, 2020, are as detailed in the table below.

Fund Name

Management Fees for Series

A/AH/AT5/AT8/C/T5/T8

Management Fees for Series

F/FH/F5/F8/FC/FT5/FT8/O/OH

Current

New

Current

New

Sun Life BlackRock Canadian Equity Fund

1.50%

1.45%

0.50%

0.45%

Sun Life Dynamic Equity Income Fund

1.75%

1.70%

0.75%

0.70%

Sun Life Dynamic Strategic Yield Fund

1.85%

1.80%

0.85%

0.80%

Sun Life Excel Emerging Markets Fund

2.15%

2.10%

1.15%

1.10%

Sun Life Excel High Income Fund

1.75%

1.70%

0.90%

0.85%

Sun Life Excel India Balanced Fund

1.90%

1.85%

0.90%

0.85%

Sun Life Excel India Fund

2.05%

2.00%

1.05%

1.00%

Sun Life Excel New India Leaders Fund

2.05%

2.00%

1.05%

1.00%

Sun Life Granite Balanced Class

1.80%

1.75%

0.80%

0.75%

Sun Life Granite Balanced Growth Class

1.85%

1.80%

0.85%

0.80%

Sun Life Granite Balanced Growth Portfolio

1.85%

1.80%

0.85%

0.80%

Sun Life Granite Balanced Portfolio

1.80%

1.75%

0.80%

0.75%

Sun Life Granite Conservative Class

1.50%

1.45%

0.75%

0.70%

Sun Life Granite Conservative Portfolio

1.50%

1.45%

0.75%

0.70%

Sun Life Granite Enhanced Income Portfolio

1.80%

1.75%

0.80%

0.75%

Sun Life Granite Growth Class

1.90%

1.85%

0.90%

0.85%

Sun Life Granite Growth Portfolio

1.90%

1.85%

0.90%

0.85%

Sun Life Granite Income Portfolio

1.50%

1.45%

0.75%

0.70%

Sun Life Granite Moderate Class

1.75%

1.70%

0.75%

0.70%

Sun Life Granite Moderate Portfolio

1.75%

1.70%

0.75%

0.70%

Sun Life JPMorgan International Equity Fund

1.90%

1.85%

0.90%

0.85%

Sun Life MFS Canadian Bond Fund

1.05%

1.00%

0.55%

0.50%

Sun Life MFS Canadian Equity Fund

1.80%

1.75%

0.80%

0.75%

Sun Life MFS Dividend Income Fund

1.70%

1.65%

0.70%

0.65%

Sun Life MFS Global Growth Class

1.85%

1.80%

0.85%

0.80%

Sun Life MFS Global Growth Fund

1.85%

1.80%

0.85%

0.80%

Sun Life MFS Global Total Return Fund

1.80%

1.75%

0.80%

0.75%

Sun Life MFS Global Value Fund

2.00%

1.95%

1.00%

0.95%

Sun Life MFS International Opportunities Class

1.85%

1.80%

0.85%

0.80%

Sun Life MFS International Opportunities Fund

1.85%

1.80%

0.85%

0.80%

Sun Life MFS International Value Fund

2.00%

1.95%

1.00%

0.95%

Sun Life MFS Low Volatility Global Equity Fund

1.80%

1.75%

0.80%

0.75%

Sun Life MFS Low Volatility International Equity Fund

1.80%

1.75%

0.80%

0.75%

Sun Life MFS U.S. Equity Fund

1.85%

1.80%

0.85%

0.80%

Sun Life MFS U.S. Growth Class

1.85%

1.80%

0.85%

0.80%

Sun Life MFS U.S. Growth Fund

1.85%

1.80%

0.85%

0.80%

Sun Life MFS U.S. Value Fund

1.85%

1.80%

0.85%

0.80%

Sun Life Milestone 2025 Fund

1.30%

1.25%



Sun Life Milestone 2030 Fund

1.85%

1.80%



Sun Life Milestone 2035 Fund

1.85%

1.80%



Sun Life Multi-Strategy Bond Fund

1.05%

1.00%

0.55%

0.50%

Sun Life NWQ Flexible Income Fund

1.35%

1.30%

0.85%

0.80%

Sun Life Schroder Global Mid Cap Fund

2.00%

1.95%

1.00%

0.95%

Sun Life Tactical Balanced ETF Portfolio*

1.50%

1.45%

0.50%

0.45%

* The fee reductions for Sun Life Tactical Balanced ETF Portfolio are for Series C, FC, and O only.

Sun Life Global Investments will also be reducing the management fees for Sun Life Money Market Fund and Sun Life Money Market Class on August 1, 2020, as follows:

Series

Current

Management Fee

New Management Fee

A (FE)

1.00

0.55

F

0.75

0.45

O

0.75

0.45

Also effective August 1, 2020, the Deferred Sales Charge (DSC) and Low Load (LL) purchase options are being capped for Sun Life Money Market Fund and Sun Life Money Market Class and will only be available to accounts that already hold these purchase options. Existing Sun Life Global Investments investors within the DSC / LL purchase option will be able to switch securities into the Sun Life Money Market Fund or Sun Life Money Market Class under the DSC or LL options, even if they currently do not have securities in Sun Life Money Market Fund or Sun Life Money Market Class.  

Additional business-related changes
Effective immediately, the risk ratings of Sun Life Global Tactical Yield Private Pool will be increasing from Low to Low-to-medium while Sun Life MFS Low Volatility Global Equity Fund will be decreasing from Medium to Low-to-medium. In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, Sun Life Global Investments reviews the risk ratings of its funds at least once a year, as well as when a fund undergoes a material change.

The Funds' risk ratings changed following an annual review that was conducted as part of Sun Life Global Investments' ongoing fund review process. The investment objectives and strategies of the Funds remain unchanged.

In addition to these changes, the investment fund manager formerly known as "Sun Life Global Investments (Canada) Inc." has changed its legal entity name to "SLGI Asset Management Inc." effective July 20, 2020. All mutual fund products will continue to be branded under the trade name of "Sun Life Global Investments."

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 with some of the best asset managers from around the world to deliver a truly global investment platform. As of March 31, 2020, SLGI Asset Management Inc. manages $27.41 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 or connect with us on Twitter @SLGI_Canada.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate 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 March 31, 2020, Sun Life had total assets under management of $1,023 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.

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. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Forward-Looking Statements 
Certain statements in this news release may be considered to be forward-looking statements within the meaning of applicable Canadian securities legislation. Information about risk factors relating to the mutual funds managed by Sun Life Global Investments can be found in the current prospectus of the mutual funds discussed in this press release and for Sun Life can be found in the annual information form of Sun Life Financial Inc., for the year ended December 31, 2019 under the heading "Risk Factors" and other regulatory filings filed with or furnished to Canadian securities regulators available at www.sedar.com.

© SLGI Asset Management Inc., 2020. SLGI Asset Management Inc. is a member of the Sun Life group of companies.

Media Relations Contact
Alexandra Locke, Manager
Corporate Communications
T. 416-408-7357
alexandra.locke@sunlife.com

SOURCE Sun Life Global Investments (Canada) Inc.

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