Sun Life Short Term Private Fixed Income
Plus Fund adds to an innovative suite of private asset class
solutions
TORONTO, Oct. 25, 2016 /CNW/ - Sun Life Institutional
Investments (Canada) Inc. (SLIIC),
a Sun Life Investment Management company, today announced the
launch of a new fund offering in Canada focused on short term private fixed
income for institutional investors. The Sun Life Short Term Private
Fixed Income Plus Fund provides access to Sun Life Assurance
Company of Canada's proprietary
capabilities in private fixed income and commercial mortgages.
"The persisting low rate environment has generated increased
appetite for alternative yield," said Carl
Bang, President, Sun Life Institutional Investments
(Canada) Inc. "Our first capital
raise of $550 million for the Sun
Life Short Term Private Fixed Income Plus Fund resulted in excess
demand of $350 million. Clearly the
market is hungry for this solution, and we are eager to put money
at work against opportunities we see in the market presently."
The fund was created with input from clients and designed to
address near-term market need for higher yielding investment
returns over more traditional asset classes. Higher yielding assets
will be sought through Sun Life's market position and developed
investment franchise in private fixed income and commercial
mortgages. The private fixed income team is one of North America's largest, managing assets of
more than $26 billion*. Similarly,
the commercial mortgage team manages one of Canada's largest portfolios of commercial
mortgages, with assets in excess of $15
billion*.
"Listening to our clients, we leveraged the in-house expertise
of Sun Life's private fixed income and commercial mortgage teams to
bring this specialized solution to the market. I am proud that this
fund is the first and only of its kind available to institutional
investors in Canada, that I am
aware of," said Bang.
The fund seeks to achieve total return by providing income while
preserving capital through investing primarily in a diverse
portfolio of short term private and public fixed income and
floating rate assets. The fund is benchmarked against the FTSE TMX
Canada Short Term Corporate Bond Index.
SLIIC is proud to be partnering with some of the largest and
most successful institutional investors across the country. The Sun
Life Short Term Private Fixed Income Plus Fund rounds out a unique
suite of private asset class solutions:
Solution
|
Summary of
Investment Objective and Strategy
|
Sun Life Long Term
Private Fixed Income Plus Fund
|
Invests in a diverse
portfolio of primarily long term private fixed income
assets
|
Sun Life Private
Fixed Income Plus Fund
|
Invests in a diverse
portfolio of primarily private fixed income assets with a portfolio
duration of medium term
|
Sun Life Canadian
Commercial Mortgage Fund
|
Invests in first
mortgage and construction loans secured by properties located in
Canada
|
Sun Life Institutional Investments (Canada) Inc. is a Canadian portfolio manager,
investment fund manager and exempt market dealer, and in
Ontario, commodity trading
manager, and is the manager of the Sun Life Short Term Private
Fixed Income Plus Fund, Sun Life Private Fixed Income Plus Fund,
the Sun Life Long Term Private Fixed Income Plus Fund and the Sun
Life Canadian Commercial Mortgage Fund.
*As of June 30, 2016
About Sun Life Investment Management
The Sun Life Investment Management group of institutional
investment management companies comprises Bentall Kennedy in
North America, Prime Advisors,
Inc. and Ryan Labs Asset Management Inc. in the United States, and Sun Life Institutional
Investments (Canada) Inc. in
Canada. These operations have
combined third-party assets under management of $49 billion, as of June
30, 2016. Sun Life Investment Management is supported by the
investment division of Sun Life Assurance Company of Canada that manages $141 billion in assets under management for the
Sun Life Financial group of companies as of June 30, 2016.
IMPORTANT INFORMATION: This is not intended to provide
specific investment, tax, financial, legal or accounting advice and
should not be relied upon in that manner. Under no circumstances is
this to be construed as an invitation to make an investment in the
Fund(s), nor does it constitute a public offering to sell units of
the Fund(s). Subscriptions for units in the Fund(s) will only be
considered under the terms of the Fund's offering memorandum,
subscription agreement and limited partnership agreement and units
will only be sold to qualified investors pursuant to applicable
securities laws. Investors should read these documents and consult
with their professional advisors before investing.
The information is current as of June
30, 2016. Efforts have been made to ensure that the
information is obtained from sources believed to be reliable and
accurate at the time of publication. However, Sun Life
Institutional Investments (Canada)
Inc. and/or its affiliates (collectively "Sun Life") do not
guarantee its accuracy or completeness. Information is subject to
change without notice and Sun Life accepts no responsibility for
any losses arising from any use of or reliance on the information
provided herein. In the event of any inconsistency between
information in this release and information in the offering
memorandum, subscription agreement, limited partnership agreement,
audited financial statements and/or official client statements
(collectively, "Fund legal documentation"), the information
contained in such Fund legal documentation shall prevail. There is
no guarantee that the Fund(s) will achieve its investment
objective, its target returns or will be able to source the assets
as stated.
Note to editors: All figures in Canadian dollars unless
otherwise stated.
Media Relations Contact:
Brandon Dorey
Manager
Corporate Communications
T. 416-204-8004
brandon.dorey@sunlife.com
SOURCE Sun Life Investment Management