- Stock selection in industrials, utilities and consumer staples contributed to performance
- Notable individual contributors included UBS AG, Charles Schwab, Intel Corp. and Exxon Mobil (not held)
- UBS AG - An overweight position in the investment management and banking firm helped relative returns. The stock price advanced as it reported above-consensus earnings results, primarily due to lower-than-expected funding costs and operating expenses.
- Charles Schwab - The portfolio's overweight position in the financial services provider benefited relative performance. The stock price advanced as it reported a relatively in-line and better-than-feared quarter.
- Intel Corp. - The portfolio's overweight position in the semiconductor company helped relative returns. The stock price rose as it released earnings-per-share and guidance above estimates due to strong commercial and consumer demand for PC components.
SLGI Asset Management Inc. is the investment manager of the Sun Life family of mutual funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund’s prospectus. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Sun Life Assurance Company of Canada is the issuer of accumulation annuities (insurance GICs), payout annuities and individual variable annuity contracts (segregated fund contracts). Any amount that is allocated to a segregated fund is invested at the risk of the contract owner and may increase or decrease in value. Sun Life Financial Trust Inc. is the issuer of guaranteed investment certificates.
Sun Life Global Investments is a trade name of SLGI Asset Management Inc., Sun Life Assurance Company of Canada and Sun Life Financial Trust Inc. all of which are members of the Sun Life group of companies.