Sun Life Investment Management Inc. Tuesday day announced it is launching three pooled funds that will be offered for sale to Canadian institutional investors who qualify as “permitted clients” under applicable securities legislation.
The funds focus on private fixed income, commercial mortgages and real estate assets, and will be available starting April 1.
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.
“We have seeded the three funds with a set of quality assets consistent with the mandates of the funds,” says Steve Peacher, president, Sun Life Investment Management and chief investment offficer, 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.”
Sun Life Private Fixed Income Plus Fund will invest primarily in a diverse portfolio of private fixed income and public fixed income assets.
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.
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.