Multi-strategy fund from Sun Life

Toronto-based Sun Life Global Investments (Canada) Inc. has partnered with London, U.K.-based Aviva Investors to launch a new multi-strategy investment fund. Sun Life Multi-Strategy Target Return Fund is meant to provide unitholders with an average annual gross return of five percentage points above the Bank of Canada’s overnight lending rate during a rolling three-year period. To achieve this objective, the fund will invest in an array of asset classes, such as global equities and fixed-income securities, underlying funds, cash, money market instruments and derivatives. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2.5% for the low-load option. Redemption fees begin at 5.5% for Year 1 and end at zero after Year 7 for the regular DSC schedule, or begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales; 0.5% for the first seven years of deferred sales, and 1% thereafter; and 0.5% for the first three years of low-load sales, and 1% thereafter. Management fees are 2.25% for A-class units and 1.25% for F-class units. Minimum investment is $500.

(fcollie@investmentexecutive.com)