Update on CI Portfolio Series Funds

Sun Life Group Retirement Services regularly reviews the Core investment platform in response to Client interest and evolving fund offerings in the market.

Effective immediately, Sun Life will no longer market the CI Portfolio Series funds (the Funds) as part of the Core investment platform.  This means that the Funds will no longer be available to plan sponsors who don’t already offer them in their line-ups.  We made the change due to lack of client interest in the Funds -and significant client redemptions - over the last few years.

GRS Investment Solutions View:

We originally placed the Funds to our Watch list in the ‘Additional Monitoring’ category in Q4 2020.  This was due to the elimination of CI Investments’ in-house brands and their integration into a single new brand, CI Global Asset Management. The integration resulted in significant senior and analyst level turnover. This turnover impacted a significant number of underlying funds within CI Portfolio Series. 

How will this impact plans that currently offer the Funds?

This change does not affect plans that currently offer the Funds. Sun Life will not close the Funds at this time. We will continue to conduct governance activities on the Funds for the foreseeable future. Contributions from existing plans can continue. 

Questions? 

Please contact your Sun Life Group Retirement Services representative.