Sun Life Asset Management Co., Inc. began broadening the avenues by which to invest in the Sun Life prosperity funds in 2001 by entering into an arrangement with Yapster E-trade Inc., an online stockbrokerage company.
Late last year, the company also signed a memorandum of agreement with the Philippine Stock Exchange so that the mutual funds may be made available through the registered stockbrokers of the local bourse.
In spite of being a relatively young player in the industry, Sun Life Asset Management Co. Inc. continues to enjoy market receptiveness as reflected by the 141-percent increase in its fund sales last year. The company’s assets under management also increased by 190 percent to P3.16 billion, nearly three times its AUM level in 2001. The most popular choice of mutual fund for the investors of the Sun Life Prosperity Funds is the Sun Life Prosperity Bond Fund. The Bond Fund has a year-to-date return of 8.518 percent per annum.
The very encouraging market response is driving the company to open up more channels and attract more investments into the Sun Life prosperity bond, balanced, Philippine equity, and dollar advantage funds. Making the mutual funds available through Standard Chartered Bank’s Trust and Investment Services department is part of this effort.