Sun Life Sionna Canadian Small Cap Equity Class will close Nov. 16
Firm partners with J.P. Morgan Asset Management
The mergers will take effect June 15
Competing for shelf space will be more difficult, thanks to tightening product shelves and regulatory requirements
But the closure of the two ETFs doesn’t mean SLGI will be out of ETFs permanently as the firm says it’s “refining” its ETF strategy
SLGI and Excel are proposing that the current master declaration of trust governing Excel’s suite of funds be amended
The proposed revisions include fund mergers, investment objective changes, fee changes
D-class and IS-class units across all Excel mutual funds closed to new investments
The purchase expands Sun Life’s wealth management business in Canada with a broader lineup of emerging market funds
Kevin Dougherty moves to a new position focused on innovation while Jacques Goulet joins as president of Sun Life Financial Canada and Jordy Chilcott is appointed head of investment distribution at SLGI