SUN LIFE of Canada (Philippines), Inc. launched a new offshore fund for its investment-linked life insurance products, tapping global financial markets for portfolio diversification and to generate long-term gains.
Sun Life Philippines said in a press release late Monday that the Global Opportunity Payout Fund will operate as a fund-of-funds and will invest mainly in a mix of foreign currency-denominated, income-generating, and capital-appreciating financial assets.
The fund can be availed for the following Sun Life investment-linked insurance products: Sun MaxiLink Dollar One, Sun FlexiDollar1, and Sun FlexiDollar, the insurer said.
“This new fund is suitable for clients with medium to long-term wealth accumulation goals such as preparing for retirement. They can stay financially secured with insurance and enjoy potential capital appreciation of their funds over time,” Sun Life Chief Marketing and Client Experience Officer Gilbert Simpao was quoted as saying in the statement. “The fund aims to provide regular cash payouts to our clients which will be given as long as the assets in the fund are able to support it.”
The cash payouts come from the gains generated via the income-paying assets of the fund.
Target assets of the fund include mutual funds and exchange-traded funds, as well as the bonds and other securities issued by the Philippines, the United States and other foreign governments and companies. It also targets investments in equity-linked securities.
“The Global Opportunity Payout Fund is a perfect complement to our existing roster of fund options for our investment-linked insurance products since it aims to provide an annual stream of cash flows and offers global diversification for clients,” Sun Life Philippines Investments Head Ivan Corcuera said.