Sun Life mutual funds hit P37.7B

MANILA, Philippines - Sun Life Asset Management Co., Inc. (SLAMCI) has accumulated P37.7 billion in assets under management (AUM) end March 2013. SLAMCI is a member of the Sun Life Financial group of companies. 

SLAMCI president Valerie Pama said that the total AUM of the seven Sun Life Prosperity Funds reached P37.7 billion, 31 percent higher than 2012 yearend AUM of P28.7 billion. 

“A growth rate of about eight percent month-on-month from February,” Pama said. 

Assets in January stood at P31 billion, growing to P35 billion the following month. 

Pama attributed the fund growth to the expansion of distribution channels and to the company’s adherence to professional business practices anchored on prudence and transparency in managing investments.

She also noted that the increase in the productivity of the company’s mutual fund advisors boosted growth as well. 

Likewise, external factors like the lowering of interest rates, the upward trajectory of the stock market and the investment grade rating recently given to the Philippines, as significant reasons for the impressive performance of the Prosperity funds. 

Of the combined assets of the seven funds, 41 percent came from the Balanced Fund, 34 percent from the Equity Fund; while 16 percent came from the Bond Fund.  

The remaining nine percent were divided among the two dollar-denominated funds (Dollar Advantage and Dollar Abundance), and the GS and Money Market Funds.

 As it closes March 2013 with a net asset value per share (NAVPS) of 4.1337, the Equity Fund posts a one-year return of 33.96 percent.

Its corresponding three-year and five-year returns are at 112.4 percent and 135.36 percent.  

The Balanced Fund, with a March NAVPS of 3.9334, has one-year return of 30.09 percent, a three-year return of 89.01 percent and a 5-year return of 103.63 percent. 

Both funds are also the largest in their respective categories in the mutual fund industry. 

SLAMCI 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.