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Toronto-based Sun Life Global Investments (Canada) Inc. (SLGI) on Wednesday announced several changes to its mutual fund lineup, with the aim of streamlining and improving the experience for clients and advisors.

Sun Life Infrastructure Fund is seeking unitholder approval to change its investment objective. If approved, the fund will be transitioned to a multi-manager structure, SLGI says in a release. The new objective seeks to provide long-term capital appreciation while preserving purchasing power, including during periods of rising inflation, by investing primarily in a diversified portfolio of global securities. The fund will also be renamed Sun Life Real Assets Fund.

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Unitholders will vote on the changes on or about May 17. If approved, the investment objective change will take effect on or about May 31.

Lazard Asset Management (Canada) Inc., the current sub-advisor of Sun Life Infrastructure Fund, will continue to manage the fund’s infrastructure sleeve. KBI Global Investors (North America) Ltd. will be appointed to manage the fund’s natural resource sleeve and MFS Institutional Investments (Canada) Ltd. (MFS) will be appointed to manage the fund’s real estate sleeve with the new investment strategies in place effective May 31.

The following changes take effect Feb. 22:

> Series T5, Series T8, Series F5, and Series F8 units of Sun Life Infrastructure Fund will be closed to new purchases. Effective the same date, Series T5 and T8 units will be redesignated Series A units, and Series F5 and F8 units will be redesignated Series F units.

> The risk rating for Sun Life MFS Dividend Income Fund and Sun Life Dynamic Equity Income Fund will change from “Medium” to “Low to Medium.” The investment objectives and strategies of each income fund remain unchanged.

> Sun Life Trimark Canadian Class will be renamed Sun Life Invesco Canadian Class.