Sun Life Global Investments (Canada) Inc. has made changes to certain mutual funds. The details are below.
First, the Sun Life Sentry Global Mid Cap Fund will transition to the Sun Life Schroder Global Smaller Companies Fund. Effective on or about October 2, 2017, Schroder Investment Management North America Inc. will assume the portfolio sub-advisory responsibilities for Sun Life Sentry Global Mid Cap Fund, and the fund will be renamed Sun Life Schroder Global Smaller Companies Fund. The investment strategies of the fund will be amended but the investment objective will remain the same.
Second, the Sun Life MFS Canadian Equity Fund and Sun Life MFS Canadian Equity Value Fund will be merged into the Sun Life MFS Canadian Equity Growth Fund. This will happen on or about October 27, 2017.
As a result, both terminating funds will be capped to new investors as of July 24, 2017.
As a result of the mergers, the continuing fund will be the successor underlying trust fund for the Sun Life MFS Canadian Equity Class, which will be renamed the Sun Life MFS Canadian Equity Growth Class. The investment strategies of the Sun Life MFS Canadian Equity Class will be amended to reflect that it will invest primarily in the Sun Life MFS Canadian Equity Growth Fund, the successor fund to Sun Life MFS Canadian Equity Fund.
Finally, the Sun Life Sentry Conservative Balanced Fund will be merged into the Sun Life Granite Income Portfolio, effective on or about October 27, 2017, provided it receives required unitholder and regulatory approvals.
The unitholder vote is expected to be scheduled on or about October 6, 2017, when the fund will also be capped to new investors. If unitholders do not approve the proposed merger, Sun Life Global Investments will terminate the terminating fund on or about October 27, 2017.