Through the Savings and Investment Management Plan for Employees (SIMPLE) of Sun Life Asset Management Co. (SLAMC), employees have the option to make voluntary contributions from their salaries to invest in any or combination of three mutual funds instruments called Sun Life Prosperity Funds, namely: Bond Fund, Balanced Fund, and Philippine Equity Fund.
Mutual funds are pooled money that will be invested in different ventures, and are managed by professional fund managers.
The Investment Company Association of the Philippines (ICAP) recognized the Sun Life Prosperity Funds was as the Most Diversified Family of Mutual Funds.
With SIMPLE, any registered business or organization can put up a voluntary savings plan for employees and their employees’ contributions can be collected through salary deduction. There is no more need to go out of the office to open or maintain an account.
SLAMC’s fund managers will do all the investment management work. This gives employees a range of investment options that provide potentially higher earnings that traditional savings accounts and which can serve as supplement for one’s retirement package.
The most important aspect that should be remembered about SIMPLE is that it’s investment for the long run.
“Investment is not a matter of timing, it’s a matter of time. So the sooner you start investing, the more chances you have of attaining your financial objective. And SIMPLE lives up to its name: it makes investment affordable, convenient, and uncomplicated for hard-working individuals,” Ben Thomas Panares, SLAMC chief operating officer, said.
SLAMC is a member of the Sun Life Financial Philippines group, which is one of the leading life insurance and financial institutions firms in the country.