Sun Life alters two funds

By Staff | April 2, 2012 | Last updated on April 2, 2012
1 min read

Sun Life Global Investments has proposed additional changes to the funds it recently took over as manager and trustee from McLean Budden.

Effective today, Sun Life MFS McLean Budden Balanced Growth Fund and Sun Life MFS McLean Budden Balanced Value Fund will distribute income and capital gains, if any, in December of each year, as opposed to distributing income on the last business day of each quarter and distributing capital gains on the last business day of each year.

On June 1, Sun Life Global Investments expects to amend the trust agreement governing each of the funds in order to modernize the document aligning it with industry practice for publicly offered mutual funds. The amended agreement will conform to the master declaration of trust governing the other mutual funds managed by the company.

Also starting in June, Series O units of each of the Sun Life MFS McLean Budden Global Research Equity Fund, formerly a global equity fund, and the Sun Life MFS McLean Budden International Equity Fund will be renamed as Series I units. In addition, Series C units of each of these funds will be reclassified as Series I units.

A description of any major amendments to the trust agreement will be available to the unit holders on the Sun Life’s website, and investors in the funds can obtain a copy of the agreement by contacting Sun Life. staff


The staff of have been covering news for financial advisors since 1998.