SUN LIFE Asset Management Co., Inc. (SLAMCI) has partnered with BlackRock to launch the Sun Life Prosperity World Income Fund that offers clients potential monthly income and long-term capital growth.
The peso-denominated feeder fund will invest 90% of its assets in BlackRock’s Dynamic High-Income Fund and aims to pay out regular income in cash monthly starting December, SLAMCI said in a virtual media briefing on Tuesday.
The remaining 10% will be invested in global equities, fixed income, and other assets with focus on income, it added.
“This launch is not just about business, it’s about Sun Life Asset Management’s commitment to be a partner to prosperity for Filipino investors. This new fund isn’t just about financial opportunities. It’s also about diversifying, finding clients right ways to help investors achieve their financial goals,” SLAMCI President Gerald L. Bautista said.
SLAMCI Head of Strategic Development, Marketing and Training Dinon S. Macasaet said the fund targets to pay out monthly cash income directly to a client’s bank account with a non-guaranteed rate of 4.5% to 5.5% net dividend.
“The second investment objective of the fund is potential capital growth via the global markets,” he added.
SLIMTC Head of Equities and Global Funds Michael Adrian O. Vergara said the fund was created as US companies are now reinvesting.
“We want to highlight that right now [is that] the key priority or expectations from shareholders and investment managers is for companies to increase their capital spending,” he said.
An improving outlook, with the US Federal Reserve seen cutting rates next year and easing expectations of a recession, will also support investments, Mr. Vergara said. — AMCS