Sun Life launches Sun Life Short Term Private Fixed Income Plus Fund

By Tali Rackner

Norfolk, Va., Oct. 25 – Sun Life Institutional Investments (Canada) Inc. announced the launch of the Sun Life Short Term Private Fixed Income Plus Fund, a new fund offering in Canada focused on short-term private fixed income for institutional investors, according to a press release.

The fund provides access to Sun Life Assurance Co. of Canada's proprietary capabilities in private fixed income and commercial mortgages.

The fund seeks to achieve total return by providing income while preserving capital through investing primarily in a diverse portfolio of short-term private and public fixed-income and floating-rate assets. It is benchmarked against the FTSE TMX Canada Short Term Corporate Bond index.

"The persisting low rate environment has generated increased appetite for alternative yield," Sun Life Institutional president Carl Bang said in the release.

"Our first capital raise of $550 million for the Sun Life Short Term Private Fixed Income Plus Fund resulted in excess demand of $350 million. Clearly the market is hungry for this solution, and we are eager to put money at work against opportunities we see in the market presently."

Sun Life is a financial services company based in Toronto.

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