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Sun Life Multi-Strategy Bond Fund

$9.8047
Net asset value per security (NAVPS) as of November 17, 2017
$0.0195 0.20%
Benchmark

FTSE TMX Canada Universe Bond Index

Fund category

Canadian Fixed Income

MorningstarTM Rating

Funds in category

449

Mutual fund categories are maintained by the Canadian Investment Funds Standards Committee (CIFSC).

 

Portfolio analysis (as of September 30, 2017)

Composition

%
Cash 3.2
Fixed income 95.2
Canadian equity 0.0
U.S. equity 0.0
International equity 0.0
Emg markets equity 0.0
Other 1.6

Fixed inc style

Credit quality %
AAA 34.5
AA 34.8
A 12.2
BBB 11.8
BB 2.0
B 0.0
Below B 0.8
Not Rated 3.9

Geographic composition %
Canada 89.3
United States 1.1
China 0.0
Germany 0.0
Japan 0.0
United Kingdom 0.0
Others 9.7
Fixed income %
Government bonds 70.3
Corporate bonds 24.5
Securitized 2.0
Cash & Equivalents 3.2
Derivatives 0.0

Top ten holdings %
as of September 30, 2017
PH & N Bond Series O 29.9
Sun Life BlackRock Cdn Univ Bond 29.8
Templeton Global Bond A 5.0
Templeton Global Bond Hedged O 4.9
Canada Govt 1% 2027-06-01 3.1
Ontario Prov Cda 2.85% 2023-06-02 2.1
Quebec Prov Medium Term Nt Cds 3.5% 2045-12-01 1.0
Quebec Prov Medium Term Nt Cds 3.5% 2022-12-01 1.0
Canada Hsg Tr No 1 3.15% 2023-09-15 0.8
Quebec Prov Medium Term Nt Cds 4.5% 2020-12-01 0.7
Total number of portfolio holdings 141

Cash and cash equivalents are not shown.

Performance analysis (as of October 31, 2017)

CALENDAR YEAR YTD 2016 2015 2014 2013 2012 2011* 2010 2009 2008 2007
Total assets $M 3.1 3.6 2.9 3.3 4.6 8.2 0.8 - - - -
Fund return % 1.5 0.4 0.2 4.6 -3.0 1.3 2.7 - - - -
Category return % 1.7 1.9 2.2 6.9 -1.1 3.7 - - - - -
Distribution $/security 0.11 0.16 0.15 0.15 0.15 0.19 0.06 - - - -
Quartile
(within category)
3 4 4 4 4 4 - - - - -
TRAILING 1 mth 3 mth 6 mth 1 yr 2 yr 3 yr 5 yr 10 yr Since
inception
Fund return % 1.3 1.2 -1.3 -1.3 1.4 1.1 0.8 - 1.2
Category return % 1.4 1.4 -0.9 -0.4 2.1 2.3 2.3 - -
MorningstarTM rating - - - - - - -
Quartile
(within category)
3 3 4 4 4 4 4 - -
# of funds in category 612 609 604 579 495 449 375 - -
CALENDAR YEARTRAILING

CALENDAR YEAR

Total assets $M

  • YTD
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011*
  • 2010
  • 2009
  • 2008
  • 2007
  • 3.1
  • 3.6
  • 2.9
  • 3.3
  • 4.6
  • 8.2
  • 0.8
  • -
  • -
  • -
  • -

Fund return %

  • YTD
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011*
  • 2010
  • 2009
  • 2008
  • 2007
  • 1.5
  • 0.4
  • 0.2
  • 4.6
  • -3.0
  • 1.3
  • 2.7
  • -
  • -
  • -
  • -

Category return %

  • YTD
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011*
  • 2010
  • 2009
  • 2008
  • 2007
  • 1.7
  • 1.9
  • 2.2
  • 6.9
  • -1.1
  • 3.7
  • -
  • -
  • -
  • -
  • -

Distribution $/security

  • YTD
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011*
  • 2010
  • 2009
  • 2008
  • 2007
  • 0.11
  • 0.16
  • 0.15
  • 0.15
  • 0.15
  • 0.19
  • 0.06
  • -
  • -
  • -
  • -

Quartile (within category)

  • YTD
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011*
  • 2010
  • 2009
  • 2008
  • 2007
  • 3
  • 4
  • 4
  • 4
  • 4
  • 4
  • -
  • -
  • -
  • -
  • -

TRAILING

Fund return %

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 1.3
  • 1.2
  • -1.3
  • -1.3
  • 1.4
  • 1.1
  • 0.8
  • -
  • 1.2

Category return %

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 1.4
  • 1.4
  • -0.9
  • -0.4
  • 2.1
  • 2.3
  • 2.3
  • -
  • -

Morningstar TM rating

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • -
  • -
  • -
  • -
  • -
  • -
  • -

Quartile
(within category)

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 3
  • 3
  • 4
  • 4
  • 4
  • 4
  • 4
  • -
  • -

# of funds in category

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 612
  • 609
  • 604
  • 579
  • 495
  • 449
  • 375
  • -
  • -

*For the period September 01 to December 31.

3-YEAR RISK MEASURES (as of October 31, 2017)

Annualized returns are used to calculate the risk metrics below.
Standard deviation (fund) 3.77 Sharpe ratio 0.15 Alpha -0.52
Standard deviation (category) 3.81 R2 85.30 Beta 0.84
Standard deviation (fund) 3.77
Sharpe ratio 0.15
Alpha -0.52
Standard deviation (category) 3.81
R2 85.30
Beta 0.84
  • Standard deviation: Standard deviation measures volatility, which is often used as an indicator of risk. In general, funds with higher standard deviation (higher volatility) will have returns that change more over time. They typically have a greater chance of losing money and may have a greater chance of higher returns. Funds with lower standard deviation (lower volatility) tend to have returns that change less over time. They typically have lower returns and may have a lower chance of losing money.
  • Sharpe ratio: The Sharpe ratio combines a risk measurement and a return measurement into a single number. It uses standard deviation (defined above) to determine a fund's risk per unit of return, otherwise known as a "risk-adjusted" return. A higher Sharpe ratio is better. When comparing two funds, the one with the higher Sharpe ratio outperformed the one with the lower ratio on a risk-adjusted basis.
  • R2: (pronounced "R-squared") measures how much of a fund's price movement can be attributed to the movement of the fund's benchmark. On a scale of 0-100, an R2 of 100 means 100% of the fund's price movement can be explained by the movement of the benchmark. An R2 of 85 means 85% of the fund's price movement can be explained by the movement of the benchmark, with 15% of the fund's price movement due to other factors.
  • Alpha: Alpha measures the difference between a fund's return and the return of its benchmark, taking into consideration volatility. An alpha of 1 means a fund outperformed its benchmark by 1 percentage point over the period with the same volatility. An alpha of -1 means the fund underperformed its benchmark by 1 percentage point.
  • Beta: Beta measures the price movement of a security in relation to its benchmark. A security with a beta higher than 1 means the security's price movement is more extreme (up or down) than the benchmark's. A security with a beta lower than 1 means the security's price movement is less extreme than the benchmark's. A beta of 1 means the security moves in step with its benchmark.

Current value of a $10,000 investment

$

Time frame:

Update

The growth of $10k calculator calculates an approximate rate of return using the performance information as at the first business day of each month in your chosen time-frame.

Investment management approach

The Sun Life Multi-Strategy Bond Fund uses a multi-strategy investment approach that seeks to provide broad exposure to diverse investment philosophies within the Canadian fixed income market, as well as a small strategic allocation to global fixed income.

Sun Life Global Investments ("SLGI") is responsible for the asset allocation strategy of the Fund. This structure provides flexibility for SLGI to tactically shift between selected mandates to take advantage of market inefficiencies and opportunities, delivering greater value to investors.

*The Fund's assets will be allocated amongst four underlying managers: BlackRock Asset Management; Connor, Clark & Lunn Investment Management Ltd. (sub-advisor), Franklin Templeton Investments and Phillips, Hager & North Investment Management.

Sun Life Global Investments strategically selected the listed managers to provide investors with a more stable investment experience given the current market conditions. Connor, Clark & Lunn and Phillips, Hager & North are top Canadian fixed income managers within the active investment space; BlackRock is a leader in passive investment management; and Franklin Templeton manages one of the largest global bond mandates in Canada. The sub-advisor and underlying managers are subject to change.

Overview

Investment objective

The Fund's investment objective is to seek to earn a high rate of income by investing primarily in fixed income securities of Canadian government and corporate issuers.

 

This Fund may be suitable for investors who:

  • seek a moderate degree of income and potential for capital gains
  • are medium- to long-term investors
  • are comfortable with low investment risk
 

Fund essentials

Inception date Sept 1, 2011
Min initial inv $ 500
Min additional inv $ 50
MER % audited as at December 31, 2016 1.57
Management fee % 1.25
Distributions A distribution may be applicable for this fund. Refer to Simplified Prospectus for more detail.
 

Management company
Sun Life Global Investments (Canada) Inc.

Sub-advisor
Multi-manager*

 
Class Load structure Currency Fund code
A ISC CAD SUN122
A DSC CAD SUN222
A LSC CAD SUN322
 

Risk profile

Risk profile: Low
Refer to Simplified Prospectus for more detail.

Management team

Sun Life Global Investments (Canada) Inc.:
Sadiq S. Adatia, CFA, Chief Investment Officer, Portfolio Manager;
Chhad Aul, CFA, Portfolio Manager; 
Kathrin Forrest, CFA, Portfolio Manager  

 

Notes and disclaimers

Effective May 2, 2016, the Sun Life Beutel Goodman Canadian Bond Fund moved to a multi-strategy approach, was renamed Sun Life Multi-Strategy Bond Fund, and Beutel Goodman and Company Ltd. was removed as sub-advisor. The Fund's assets will be allocated amongst four underlying managers: BlackRock Asset Management; Connor, Clark & Lunn Investment Management Ltd. (as sub-advisor), Franklin Templeton Investments and Phillips, Hager & North Investment Management.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. For periods greater than one year, the indicated rates of return are the historical annual compounded total returns as of the date indicated including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Ratings and/or ranking information is subject to change monthly.

Morningstar is an independent organization that groups funds with generally similar investment objectives for comparison purposes and ranks them on a historical basis.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar quartile rankings show how well a fund has performed compared to all other funds in its peer group. Each fund within a peer group is ranked based on its performance, and these rankings are broken into quarters or quartiles. Within a group, the top 25% (or quarter) of the funds are in the first quartile, the next 25% are in the second quartile, the next group in the third quartile, and the bottom 25% of funds with the poorest relative performance are in the fourth quartile. The point in which half the funds had better performance and half had worse performance is the median. If 100 funds are being compared, there would be four quartiles of twenty-five funds each. The median would be the fiftieth fund.

For more details on the calculation of Morningstar star ratings or quartile rankings, please see www.morningstar.ca.

The Morningstar Style BoxTM reveals a fund's investment strategy. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth). For fixed-income funds the vertical axis shows the average credit quality of the bonds owned, and the horizontal axis shows interest rate sensitivity as measured by a bond's duration (short, intermediate or long).

Average credit quality gives a snapshot of the fund's overall credit quality. It is an average of each fixed income security's credit rating, adjusted for its relative weighting in the fixed income portion of the fund. Morningstar, Inc. is not itself a Designated Rating Organization (DRO), nor does it issue a credit rating on the fund. A DRO's ratings can change from time-to-time.

Morningstar category averages are equal-weighted category returns. The calculation is simply the average of the returns for all the funds in a given category. The standard category average calculation is based on constituents of the category at the end of the period.

Categories are assigned by Canadian Investment Funds Standards Committee (CIFSC) based on an evaluation of a fund's holdings. A fund's category may change at any time. Funds within the same category may differ in terms of investment philosophy, investment process, as well as overall composition.

The calculators found on this website and/or within fund pages generated by this website and by users are provided for illustrative purposes only. The calculators are educational and/or illustrative tools and do not constitute advice with respect to investment, insurance, financial, legal, tax, accounting or similar matters.

The information contained in this fund page/profile is designed to provide you with general information related to the fund and investment alternatives and strategies and is not intended to be comprehensive investment advice applicable to individual circumstances. We strongly recommend that investors consult with a financial advisor prior to making any investment decisions.

© 2017 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.