Toronto-based Sun Life Global Investments (Canada) Inc. (SLGI) is partnering with London, U.K.-based Aviva Investors to launch Sun Life Multi-Strategy Target Return Fund, which aims to provide growth during periods of market instability.

The new fund seeks to provide investors with an average annual gross return of five percentage points above the Bank of Canada’s overnight lending rate during a rolling three-year period.

“[Investments] that are designed to deliver absolute returns are top of mind for our clients as they look to participate in a variety of market environments,” says Rick Headrick, president of SLGI, in a statement. “The multi-strategy approach aims to provide investors with a more stable investment experience and lower overall fund risk by managing the volatility that each strategy contributes to the portfolio.”

Sun Life Multi-Strategy Target Return Fund invests in a broad range of strategies, adopting a dynamic investment approach through which it seeks to take advantage of both rising and falling markets. Portfolio managers have the ability to adjust the fund to adapt to the market environment, ensuring that it achieves long-term capital growth through a variety of market conditions.

“In the past few years, we have refocused our business away from benchmark investing and toward delivering outcomes that really matter to investors, such as growth and income,” says Euan Munro, CEO of Aviva Investors in a statement. “Globally, we have seen huge interest for our multi-strategy fund platform and we look forward to bringing these solutions to Canadian investors in collaboration with Sun Life Global Investments.”

Sun Life Multi-Strategy Target Return Fund will be available through financial advisors qualified to sell commodities pools starting June 6 and to pension plan sponsors as of June 15.

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