New Sun Life Funds Add Maturity Unit Value Guarantee
A Sun Life news release said that the Milestone
Funds enhance the typical lifestyle fund concept by
adding a guarantee available at fund maturity of the
highest month-end unit value achieved over the life of a
Fund.
Seven Milestone Funds will be offered with maturity dates
of 2010, 2015, 2020, 2025, 2030, 2035 and 2040, meeting
various investment time horizons, the company said.
Participants choose the fund closest to their planned
retirement date.
“While traditional lifecycle funds aren’t new in Canada,
the concept of a guaranteed maturity value is new for the
group retirement services market,” said Rick Headrick,
Assistant Vice-President, Investment Services, in the
news release. “With the Milestone Funds, investors are
guaranteed to receive at maturity an amount determined
using at least the Funds’ inception unit price, or, if
the Fund reaches a higher month-end unit price over its
lifetime, that higher unit price.”