Sun Life AUMs expand to P13.4 billion end June

MANILA, Philippines - Sun Life Asset Management Co. Inc. (SLAMC), the mutual funds arm of Sun Life Financial-Philippines, has posted assets under management (AUM) of P13.4 billion as of June 2009, up eight percent from the first quarter level this year.

As of end March 2009, AUM was pegged at P12.4 billion. It likewise posted P1.7 billion in gross sales in June 2009, up by 58 percent from the first quarter level this year. As of March, gross sales stood at P1.06 billion.

“This is definitely a welcome improvement after experiencing a year of difficulties brought about by the global financial crunch. We have seen an upward trend so far in the first six months of 2009 and we are hoping this will continue until the yearend and beyond,” Rizalina Mantaring, president and chief executive officer of Sun Life Philippines, said in a statement.

SLAMC, which manages the biggest family of mutual funds in the country today, maintains its number two position end May in terms of AUM with a market share of 21 percent.

“We continue to be aggressive in our product development efforts and we keep our investors always abreast with what’s happening so they would be in a position to select the best investment options for them. We conduct forums regularly to serve this purpose,” Mantaring added.

The Sun Life chief also cited the re-launching of the company’s Dollar Advantage Fund, which is a balanced fund that can invest in stocks and fixed income securities offered locally and offshore. 

Mantaring said that the portfolio will be comprised of fixed income and equity securities from around the world.

“The Fund will employ an efficient global asset allocation strategy, ensuring a diversified mix of asset classes to maximize opportunities abroad while attempting to yield more consistent returns,” she added.

The Dollar Advantage Fund is only one of the seven Prosperity Funds offered by Sun Life to the investing public. The other Prosperity Funds include the Bond Fund, the Money Market Fund, Balanced Fund, Phil. Equity Fund, Government Securities (GS) Fund and the Dollar Abundance Fund.

SLAMC is a member of the Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individual and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.          – TPT