Updated Offering Memorandum for SLC Management Private Fixed Income Plus & SLC Canadian Commercial Mortgage Funds

Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans. Sun Life Assurance Company of Canada purchases units of the funds listed below, which are established as segregated funds under the Insurance Companies Act (Canada).

In the fourth quarter of 2024, SLC Management (SLC) announced that it would be updating its Offering Memorandum (OM), effective January 31, 2025.

The updated OM will reflect a switch to a daily valuation method for calculating the Net Asset Value (NAV), from monthly valuation. The NAV calculation change will affect the SLC Private Fixed Income Plus Fund and the SLC Canadian Commercial Mortgage Fund (the Funds). The Funds will continue to be monthly traded.

SLC stated that daily NAV calculation will result in quicker month-end NAV production and shortened valuation lag.

Sun Life GRS Investment Solutions’ view

We have reviewed these changes and don’t have any concerns about them at this time.

Do you have to take any action?

You and your members don’t have to take any action as a result of these changes.

A copy of the changed SIP&P is available on Sun Life’s Plan Sponsor Services website at sunlife.ca/sponsor.  When logged into the website, under the Administration and reporting tab, choose Group Retirement Services. Then, on the top navigation menu, choose Investments>> Governance reports.

Questions?

Please contact your Sun Life Group Retirement Services representative*.