Sun Life Investment Management Inc has completed its previously announced rollout of three new pooled funds that focus on private fixed income, commercial mortgages and real estate assets. Starting in April, the funds will operate with portfolios of assets totaling around $650 million. As reported in a peHUB Canada exclusive by David Toll, editor-in-charge of Buyouts magazine, one of the funds, Sun Life Private Fixed Income Plus Fund, will be earmarked for mid-market senior loans and other types of lending, such as infrastructure lending. All funds will be offered for sale to institutional investors that qualify as “permitted clients.”
Sun Life Investment Management Inc. launching private asset class pooled funds with approximately $650 million in assets
TORONTO, March 25, 2014 /CNW/ – Sun Life Investment Management Inc. (the “company”) today announced it is launching three pooled funds that focus on private fixed income, commercial mortgages and real estate assets, to be available starting April 1, 2014.
The funds are being launched with portfolios of assets totaling approximately $650 million contributed by Sun Life Assurance Company of Canada and Sun Life Financial Inc., demonstrating their commitment to the company and its funds.
The funds will be offered for sale to Canadian institutional investors who qualify as “permitted clients” under applicable securities legislation.
“We have seeded the three funds with a set of quality assets consistent with the mandates of the funds,” said Steve Peacher, President, Sun Life Investment Management and Chief Investment Officer, Sun Life Financial. “With the size and seasoned nature of the portfolios, we believe these funds offer excellent new opportunities for defined benefit plans and other institutional investors interested in private asset classes that offer attractive risk-adjusted returns over the long term.”
Following are the funds that Sun Life Investment Management Inc. will offer and their initial composition. The values of the fund assets are subject to change.
The Sun Life Private Fixed Income Plus Fund will invest primarily in a diverse portfolio of private fixed income (“PFI”) and public fixed income assets. The fund has been seeded with PFI investments and cash totaling approximately $150 million at March 19, 2014.
The Sun Life Canadian Commercial Mortgage Fund will invest primarily in a portfolio of fixed-rate first mortgage loans secured by high quality income-producing office, retail, industrial, and multi-family rental properties located in Canadian urban markets. The fund has been seeded with a diversified portfolio of Canadian commercial mortgages totaling approximately $200 million at February 28, 2014.
The Sun Life Canadian Real Estate Fund will invest primarily in a portfolio of high quality, income-producing real property located in growing Canadian urban markets. The fund has been seeded with a diversified portfolio of Canadian commercial properties with an aggregate value of approximately $300 million at February 28, 2014.
Further information about Sun Life Investment Management Inc. and its offerings is available at www.sunlifeinvestmentmanagement.com.
This news release is not an invitation to make an investment in the funds or a public offering to sell units of the funds. Subscriptions for units of each fund will only be considered on the terms of the Offering Memorandum of that fund. Units of the funds are available for purchase only by Canadian institutional investors who qualify as “permitted clients” and “accredited investors” under applicable Canadian securities legislation. The funds are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations, and subscriptions for units should only be made after consultation with independent investment and tax advisors. There is no market through which units of a fund may be sold and none is expected to develop. Under certain circumstances, redemptions of units of a fund will be deferred or suspended. Only investors who do not require immediate liquidity of their investment and who can reasonably afford a substantial impairment or loss of their entire investment should consider the purchase of units of a fund. For detailed information about the risks and uncertainties associated with investing in a fund, see “Risk Factors” in the Offering Memorandum for that fund.
About Sun Life Investment Management Inc.
Sun Life Investment Management Inc. provides investment solutions for defined benefit pension plans and other institutional investors in Canada, specializing in private asset class funds and liability driven investment strategies. It is registered with the Canadian securities commissions and regulatory authorities as a Portfolio Manager, Investment Fund Manager, and Exempt Market Dealer.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial and its partners have operations in key 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 December 31, 2013 the Sun Life Financial group of companies had total assets under management of $640 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.
SOURCE Sun Life Financial Inc.
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