SLAMC sales up 400 percent

MANILA, Philippines - Sun Life Asset Management Co. Inc. (SLAMC) realized a robust gross sales growth of 397 percent for the fourth quarter of 2009 versus the same period last year.

SLAMC is the fund manager of the Sun Life Group of Companies. It oversees the Sun Life Prosperity (SLP) mutual funds, which are invested in the bond or fixed income market, the equities or stock market, a balanced or mix between equities and fixed income, money market fund, two types of US dollar funds, and another fund dedicated to government securities (GS).

From October to December 2009, gross sales stood at P767 million versus the P154 million of the previous year’s fourth quarter level.  

Assets under management (AUM), or the combined value of mutual funds assets, stood at P15.085 billion end 2009, up by 20 percent compared to the previous year’s Q4 level.

Sun Life president and chief executive officer Rizalina Mantaring said that the volatility did not distract the company’s investors from their long-term investment goals.

“We see a continuing upswing in the investing activities of Filipinos who are now more knowledgeable about the intricacies of investing. We observe that investors’ confidence is back after more than a year of market turbulence,” Mantaring added.

The Sun Life chief also attributes this impressive achievement to the effective management of funds by its fund managers, who have a keen sense of market trends as well as the aptitude to decide what works and what does not.

“We have a great team whose expertise in wealth management has been recognized in the industry. In fact, our investment executives have been named among the Asset Benchmark Survey’s Top 5 most astute investors in the country today,” Mantaring said.

SLAMC is a member of the Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individual and corporate customers. Sun Life Financial operates in key markets worldwide including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.