Sun Life launches new product

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Tuesday, July 15, 2014

SUN Life Asset Management Company Inc. (Slamci) introduced its latest product, the Sun Life Prosperity Dynamic Fund, in Davao City on Tuesday.

Maria Charina M. Fuentes, Slamci head for strategic development and training, said during the product launch at Seda Abreeza Hotel that Dynamic Fund is a type of product that employs a tactical asset allocation approach.

"Depending on the market condition, the fund has the flexibility to shift from an aggressive asset allocation to a conservative asset allocation or vice versa," she said.


Fuentes said asset allocation approach will be done by the fund managers.

"This type of product is good for investors who do not really have the time to monitor the market," she said.

Fuentes said the risk tolerance is between moderate to high because "the fund can be heavily invested in equities and there may be a bit of volatility because the fund can swing from one asset price to another."

The initial investment for the product is P50,000 and a minimum subsequent investment of P10,000. It has a holding period of 30 days and has a redemption fee of one percent of the redemption amount. The fund has a management fee of 2.5 percent. Its benchmark is 50 percent Philippine Stock Exchange Index and 50 percent HSBC Liquid Bond Index.

She said the product was launched just this month and capped it at P2 billion in asset under management (AUM).

Fuentes said to date, they already have P1.2 billion in AUM and target to have the Dynamic Fund closed by the end of the month.

Sun Life of Canada (Philippines) Inc. chief investment officer Michael Gerard D. Enriquez said that as of the moment, the product is the first of its kind in the country.

He also said the launch in Davao City is the first leg of road shows they will be doing for the Dynamic Fund. After Davao City, they will move to Cebu City, Ilo-ilo City, and then Manila.

Published in the Sun.Star Davao newspaper on July 16, 2014.


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