Sun Life mutual funds get 7 citations

The Sun Life Prosperity Funds bagged seven awards from the Investment Companies Association of the Philippines (ICAP).

It also received special citations for being the biggest family of funds in terms of number of funds in the industry.

The funds are managed and distributed by the Sun Life Asset Management Co. Inc. (SLAMC), a member of the Sun Life Financial group of companies.

Recently, SLAMC reported total assets under management (AUMs) of P14.3 billion end March this year. In the first three months of 2007, sales expanded by P3.6 billion or over P1 billion monthly, an all-time record for the fund.

Sun Life chief investment officer Michael Oliver Manuel said that the fund manager strives to yield the best possible returns for investors without losing sight that the funds are packaged as a return and risk management proposition.

"This means, we invest prudently and go only for select securities that are fundamentally sound," Manuel added.

While the equity or stock market funds have been the best seller for investors starting the second semester of 2006, SLAMC continued to advocate investing in the balanced funds, or mutual funds that are invested in both in the equities and bond markets.

"They (investors) get the best of both worlds," the chief investment officer added.

SLAMC manages seven types of mutual funds collectively known as the Prosperity Funds. These are: the money market fund, the government securities fund, the bond fund, balanced fund, Philippine equity fund, two dollar-denominated funds.

The funds allows up to four inter-fund transfers yearly, free of charge. This inter-fund transferability is advantageous to clients whose investment needs and objectives change from time to time.

As of end March, net asset of the bond funds reached P5.1 billion although it has been overtaken by the balanced fund with P5.42 billion.

Equity funds amounted to P1.74 billion, the money market funds with P407 million, and the assets of the government securities fund hit P111 million.

The Dollar Advantage fund amounted to $27.5 million while the Dollar Abundance recorded assets worth $3.2 million.

The Sun Life Prosperity Funds have consistently outperformed benchmarks and other investment alternatives.

"We actually see the increase in our sales as a compliment for it means we have earned our investors’ trust and confidence. And we take pains to ensure that we maintain this trust," Henry Joseph Herrera, Sun Life chief executive officer and president said in a earlier statement. — Ted Torres