Sun Life mutual fund assets hit P31B

MANILA, Philippines - Sun Life Asset Management Co. Inc. (SLAMCI) has reported that its assets under management (AUM) as of January 2013 grew to P31 billion from P28.7 billion in 2012.

SLAMCI is the mutual fund manager of Sun Life Financial-Philippines.

In a press statement, SLAMCI president and chief executive officer Valerie Pama said the three funds that boosted their total portfolio were the balanced, equity and bond funds.

SLAMCI manages the second-largest family of mutual funds bunched under the Sun Life Prosperity Funds, which include the balanced fund, Philippine equity fund, bond fund, money market fund, GS (government securities) fund, and two dollar-denominated funds.

The balanced fund grew 41 percent, the equity fund 31 percent and the bond fund 17 percent.

Pama said the net asset value per share (NAVPS) of the funds also grew in January, led by the equity fund with its NAVPS at 3.8490 or 7.74 percent higher than the NAVPS in December.

The fund also posted three-year returns of 118.92 percent, and five-year returns of 104.2 percent.

The SLAMCI chief executive said the mutual funds, particularly the equity fund, would continue to generate healthy returns due to the growing confidence of investors in the country’s economy and its prospects.

“Investors today have become more aggressive in their investment choice. Our balanced fund and equity fund have now become the largest in their respective categories,” the SLAMCI chief added.