RBC Investor and Treasury Services (RBC I&TS), part of Toronto-based Royal Bank of Canada (RBC), announced it has been appointed custodian and fund administrator for Sun Life Guaranteed Investment Funds (GIF), the new line of segregated funds from Toronto-based Sun Life Financial Inc.
“We are delighted to be appointed by Sun Life Financial – a strong global brand with a history of partnerships across RBC,” says Harry Samuel, CEO, RBC I&TS. “We look forward to extending our successful relationship with Sun Life Financial Canada to support their growth with the launch of their new segregated funds.”
The funds in question consist of three product lines: Sun (GIF) Solutions, Sun Lifetime Advantage GIF and Sun Protect GIF.
“We are pleased to be working with RBC Investor & Treasury Services, our fund administration partner,” says Brigitte Parent, senior vice president, individual insurance and wealth, Sun Life Financial Canada. “The breadth and depth of RBC in the Canadian custodial space as well as their expertise with fund administration were key elements in our decision to partner with them.”
RBC I&TS is a specialist provider of asset services, custody, payments and treasury services for financial and other institutional investors worldwide. It ranks among the world’s top 10 global asset-servicing businesses, with $3.7 trillion in client assets under administration, as at January 31, 2015. Its relationship with Sun Life Financial dates back to 1989.
Sun Life Financial provides financial products and services to individuals and corporate customers. As of December 31, 2014, the Sun Life Financial group of companies had $734 billion in total assets under management.