The firm has terminated the fund's current sub-advisor
Sun Life Global Investments has renamed the Sun Life Sentry Infrastructure Fund. It will now be known as the Sun Life Infrastructure Fund following the acquisition of Sentry Investment by CI Financial Corp.
Sun Life has terminated Sentry as the sub-advisor of the fund, however, the fund's investment objective and strategies will remain unchanged.
The group appointed State Street Global Markets Canada as the interim sub-advisor to the fund. It will sub-advise the Sun Life Infrastructure Fund until Sun Life selects an appropriate replacement for sentry.
Meanwhile, Sun Life will continue to monitor the integration process between CI and Sentry.
CI Financial announced the planned Sentry takeover in August. Following this announcement, the group has secured long-term financing through a $250 million debenture offering.
The acquisition is said to boost CI Financial's assets under management to $140 billion, with total assets reaching to $181 billion.
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Related stories:
EVP of CI Financial: Here’s why we acquired Sentry
Great-West Life chooses Sentry as fund sub-advisor
Sun Life has terminated Sentry as the sub-advisor of the fund, however, the fund's investment objective and strategies will remain unchanged.
The group appointed State Street Global Markets Canada as the interim sub-advisor to the fund. It will sub-advise the Sun Life Infrastructure Fund until Sun Life selects an appropriate replacement for sentry.
Meanwhile, Sun Life will continue to monitor the integration process between CI and Sentry.
CI Financial announced the planned Sentry takeover in August. Following this announcement, the group has secured long-term financing through a $250 million debenture offering.
The acquisition is said to boost CI Financial's assets under management to $140 billion, with total assets reaching to $181 billion.
For more of Wealth Professional's latest industry news, click here.
Related stories:
EVP of CI Financial: Here’s why we acquired Sentry
Great-West Life chooses Sentry as fund sub-advisor
