Sun Life aims to sustain upbeat sales this year

CEBU, Philippines - Sun Life Asset Management Company, Inc. (SLAMCI), the mutual fund manager of Sun Life Financial Philippines, seemed to enjoy healthy returns last year along with the economic upswing in the Philippines and expects to sustain its remarkable performance of sales turn-out this 2013.

SLAMCI president Valerie Pama said that since the national economy is on the lift, Philippines is considered as one of the top performing countries in Asia and in the world.

SLAMCI acts as the adviser, administrator, and provides management, and all required operational services for the family of the Sun Life Prosperity Funds.

Pama added that 2012 has been a “phenomenal” year for the company with the reported gross sales that grew to P9.7 billion last year, up to 50% increase from 2011.

Among the four basic types of mutual funds, she said that balanced funds are considered to be the best-selling and largest funds in the market with sales that grew to P27.3 billion.

Balanced funds invest both in shares of stock and debt instruments.

SLAMCI also closed the year with an increase of the number of its mutual fund advisers from 1100 at the beginning of 2012 to 1540.

Pama noted that this 2013, SLAMCI expects to continue its stable and competent performance of funds and gross sales.

She cited that in terms of asset liability management, the first two months of this year have posted stronger sales than of last year.

She said that January 2013 has registered P1.7 billion in sales compared to the P1.5 billion sold in December 2012.

The month of February, on the other hand, posted P3 billion in asset liability management sales.

Such remarkable growth, she added, could be attributed with the bullish economy, optimism and confidence in the country.

Pama also said that they hope to mirror the same level or beyond in 2012 for this year as the Philippine economy continues to grow.

She revealed that the company is working out on a new asset allocation fund and continues to train more mutual fund advisers.

SLAMCI expects to have 2000 managers by yearend, she said.

She further advised to promote financial education among the public especially about long-term investing and to prepare the youth to be disciplined early and start to invest as young as possible. (FREEMAN)