Toronto-based Sun Life Global Investments (Canada) Inc. has named a new subadvisor for its infrastructure mutual fund. Until further notice, Toronto-based State Street Global Markets Canada Inc. will act as the interim subadvisor for Sun Life Sentry Infrastructure Fund. Sun Life decided to change the fund’s subadvisor following CI Financial Corp.’s acquisition of Sentry Investments Inc. (Both companies are based in Toronto.) In light of this change, Sun Life Sentry Infrastructure Fund has been renamed Sun Life Infrastructure Fund. The fund’s investment objective and strategy – to provide steady income by investing in the securities of global companies with either direct or indirect exposure to infrastructure, or indirectly through investments in other mutual funds and ETFs – remains unchanged. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the regular DSC schedule; or begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Advisor commissions for front-end sales are 0%-5%, 5% for deferred sales or 2.5% for the low-load option. Trailing commissions are 1% for front-end sales, 0.5% for deferred sales and 0.5 for low-load sales. Management fees are 2% for A-class units and 1% for F-class units. Minimum investment is $500. For more information, visit www.sunlife.ca/mutualfunds.
(fcollie@investmentexecutive.com).
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