SLGI Asset Management Inc. announces changes to select mutual funds

TORONTO, July 14, 2021 /CNW/ - SLGI Asset Management Inc. ("SLGI Asset Management") announced today changes to select mutual funds (the "Funds") with the aim to streamline and enhance SLGI Asset Management's product offerings and to comply with upcoming regulatory changes. These proposed changes include Fund name changes, series closures, risk rating changes, and more.

Fund name changes
SLGI Asset Management has built trusted partnerships with its sub-advisors who are chosen after a rigorous selection process, ensuring they are the right asset managers for the funds' mandates. Effective today, new names have been selected for the Funds listed below to better reflect SLGI Asset Management's relationships with the global sub-advisors of these Funds. The mandate of the Funds listed below will not change.

Ending sale of deferred sales charge and low load sales charge purchase options
SLGI Asset Management intends to stop offering the deferred sales charge ("DSC") and low load sales charge ("LL") purchase options on each of its Funds. This change will take place after the close of business on or about November 26, 2021 across all Funds.

After November 26, 2021, all DSC and LL purchase options will be closed to purchases, including purchases made through systematic plans such as pre-authorized chequing plans. Securities purchased under the DSC and LL purchase options prior to November 26, 2021, may continue to be held in investor accounts. Switching securities between Funds held under the DSC or LL purchase option will continue to be permitted.

SLGI Asset Management is implementing these changes in anticipation of regulatory changes mandated by the Canadian Securities Administrators, ending the sale of DSC and LL purchase options across all Canadian jurisdictions that takes effect on June 1, 2022.

Ending trailing commission payments to dealers that do not make a suitability determination
Effective on or before March 31, 2022, SLGI Asset Management will no longer pay trailing commissions to dealers that do not make suitability determinations (the "Impacted Dealers"), such as Order Execution Only dealers. Accounts at Impacted Dealers will only be permitted to purchase or hold securities of the following series of SLGI Mutual Funds, each of which does not pay trailing commissions.

The permitted Fund series includes:

SLGI Asset Management is implementing this change in anticipation of the regulatory requirement mandated by the Canadian Securities Administrators to end the payment of trailing commissions to Impacted Dealers that takes effect on June 1, 2022.

Closing Fund series to new purchases
Effective September 1, 2021, Series O shares of the following Funds will no longer be available for purchase or switches in:

Fund risk rating reductions
In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, SLGI Asset Management reviews the risk ratings of its Funds at least once a year, as well as when a Fund undergoes a material change. As of July 14, 2021, the following four funds will reduce their risk ratings:

About SLGI Asset Management Inc.
SLGI Asset Management Inc. is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada's most trusted names in financial services with some of the best asset managers from around the world to deliver a truly global investment platform. As of March 31, 2021, SLGI Asset Management Inc. manages $33.7 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2021, Sun Life had total assets under management of $1,304 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Media Relations Contact:
Alexandra Locke 
Manager, Corporate Communications
T. 416-408-7357
alexandra.locke@sunlife.com 

SOURCE SLGI Asset Management Inc.