Sun Life Financial Becomes First Variable Annuity Carrier to Offer PIMCO VIT Global Multi-Asset Portfolio as Investment OptionWELLESLEY, MA (August 17, 2009) - The U.S. division of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) today introduced a new investment choice for its Masters variable annuity (VA) customers, becoming the first VA carrier to offer the PIMCO VIT Global Multi-Asset Portfolio. This innovative asset allocation portfolio is co-managed by PIMCO CEO and Co-Chief Investment Officer Mohamed A. El-Erian and pursues opportunities in a broad range of asset classes, including global equities and bonds, commodities, real estate, derivatives and other variable insurance product funds (including other PIMCO funds). It offers Sun Life's variable annuity customers a dynamic new selection to their investment portfolio that uses a risk factor-based analysis to continually assess external and internal risks to the fund. Together with active tail hedging, PIMCO expects that these innovations will yield better risk-adjusted returns over time than an asset allocation fund based on more conventional asset class approaches.
"As part of our ongoing effort to bring our customers an enhanced choice of funds for their variable annuities, Sun Life is proud to be the first VA carrier to offer the PIMCO VIT Global Multi-Asset Portfolio," said Steve Deschenes, SVP and GM, Annuities. "By offering a broad range of investment options and strong product line backed by Sun Life's financial strength, we are successfully helping financial advisors and their clients fulfill their retirement income needs."
The PIMCO VIT Global Multi-Asset Portfolio works by looking not just at asset class diversification, but risk factor diversification factors and tail hedging as well. It utilizes multiple asset classes including global equities and bonds.
The portfolio offers investors a three-step approach in seeking its investment objectives that features:
- Exposure to a mix of key risk factors. PIMCO believes asset class returns are based on underlying risk factors, and the portfolio is intended to diversify an investor's risks as well as assets.
- Relative value strategies that enhance returns across multiple domestic and international market segments, the cornerstone of PIMCO's "Total Return" philosophy.
- "Tail risk" hedges that seek to proactively protect the investor against certain severe, unanticipated market events that could significantly detract from returns.
The PIMCO VIT Global Multi-Asset Portfolio is now available to new and existing Sun Life VA customers. For more information about Sun Life Financial's annuity product portfolio, brokers should call 866-637-5348, option 2.
Annuities are long-term investment vehicles designed for retirement purposes. Annuities provide a lifetime income stream, a death benefit and may provide tax deferral. Variable annuities are subject to market fluctuation, investment risk and possible loss of principal. Investors should consider the investment objectives, risks, charges, and expenses of an investment in a variable annuity carefully before investing. The prospectus contains this and other important information. Prospectuses for both the variable annuity product and the underlying investment options are available from the investor's financial professional or at www.sunlife-usa.com. Please read all prospectuses carefully before investing or sending money.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of June 30, 2009, the Sun Life Financial group of companies had total assets under management of US $341.9 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol SLF. Visit Sun Life Financial's website at www.sunlife-usa.com.
Sun Life Financial annuities are issued by Sun Life Assurance Company of Canada (U.S.) (Wellesley Hills, MA) in all states except New York. In New York, annuities are issued by Sun Life Insurance and Annuity Company of New York (New York, NY). All guarantees are backed by the claims-paying ability of the issuing insurance company. Variable annuity products are distributed through Sun Life Financial Distributors, Inc. All three companies are members of the Sun Life Financial group of companies.
PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm manages investments for an array of clients, including retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Its clients include state, municipal and union pension and retirement plans, individual and investment saving accounts, and public sector reserve management.
Sun Life Financial
SLPC 20768 (8/09)