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The purchase expands Sun Life’s wealth management business in Canada with a broader lineup of emerging market funds

By Leah Golob |

 

Sun Life Global Investments (Canada) Inc. (SLGI), the mutual funds division of Toronto-based Sun Life Financial Inc., announced Wednesday that it has completed the purchase of Toronto-based Excel Funds Management Inc. and Excel Investment Counsel Inc. as of Jan 2.

"Sun Life Global Investments has achieved a significant milestone, as we officially welcome Excel Funds to the Sun Life family," says Rick Headrick, president of SLGI, in a statement. "By expanding our lineup of emerging market funds and adding Excel's ETFs, clients will have more choices through which to achieve their financial goals."

Bhim Asdhir, formerly president and chief officer of Excel Funds, will join the SLGI leadership team in the newly created role of head of emerging markets and business development.

"I look forward to working with advisors and clients who see opportunities within emerging markets as we continue to build on the great achievements we've seen with Excel Funds, but now under the SLGI banner," Asdhir says, in a statement.

The acquisition of Excel Funds is intended to accelerate the growth of SLGI and align with the firm's broader strategy to expand its wealth management business in Canada.

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