Sun Life mutual funds smash P8-B ceiling

The assets under management (AUMs) under the wings of the Sun Life Asset Management Co. Inc. (SLAMC) has reached a record P8.1 billion as of Aug. 28 from the P7.9 billion end June this year.

The amount of funds managed by the asset management group of Sunlife Financials in the Philippines placed it solidly in third among the mutual fund managers in the country.

SLAMC manages seven funds invested in bonds, government securities, equities, dollar denominated, money market, and a balanced (combination of equities and bond) funds.

SLAMC chief operating officer Henry Joseph M. Herrera said that all funds recorced positive growth in terms of net asset value per share (NAVPS) with the balanced and equity funds recording double-digit growth year-on-year (YOY).

"We are guided by the principles of safety, liquidity and yield (SLY). We take pains in explaining to prospective investors how their money can grow or that there are risks," Herrera explained, adding that the Know-Your-Client (KYC) global guide also helps them understand the real risk appetite of the investor. It is also utilized to counter money laundering.

The seven mutual funds are Prosperity Bond Fund, Prosperity Balanced Fund, Prosperity Philippine Equity Fund, Prosperity Money Market Fund, Prosperity GS (government securities) Fund, Dollar Advantage Fund, and the Dollar Abundance Fund.

Prosperity Bond Fund amounted to slightly over P5 billion; P. Balanced Fund P1.1 billion); P. Philippine Equity Fund, P608 million; P. Money Market, P437 million; P. GS Fund, P58 million; Dollar Advantage, $14 million; Dollar Abundance, $2.3 million.

Year-on-year, the NAVPS of the P. Bond Fund grew by 12.4165 percent. It grew to 5.7915 percent compared to end December 2005, and to 1.61 percent compared to the previous month.

The NAVPS of the P. Balanced Fund grew to 24.909 percent YOY, to 15.14 percent compared to end 2005, and to 0.5978 percent from the previous month.

The NAVPS of the Philippine Equity Fund grew to 27.5288 percent YOY, to 16.5848 percent compared to end 2005, and to 0.0612 percent compared to July.

NAVPS of the Money Market Fund grew to 4.4742 percent YOY, to 2.7574 percent compared to end December, and to 0.3263 percent from the previous month.

For the GS Fund, 5.6965 percent YOY, 5.3416 percent versus end December, and 2.3307 percent from previous month.

Dollar Advantage grew to 7.0526 percent YOY, to 3.6624 vs December 2005, and 1.5748 percent from July.

Dollar Abundance grew to 4.8509 percent YOY, to 2.4349 percent from December and 1.3555 percent from July.

SLAMC manages 2,700 agents of which 466 are full-time mutual fund advisors.

The agency force contributes 54 percent of investible funds, 20 percent coming from the full time advisors, and the remaining 26 percent coming from brokers and bank partners.

Some of the bank partners are the Malayan Bank (MayBank), Hongkong Shanghai and Banking Corp. (HSBC), United Coconut Planters Bank (UCPB), and Standard Chartered Bank of the Philippines (SCBP).