Sun Life Global Investments reduces risk rating for Sun Life Real Assets Fund

ORONTO, Feb. 13, 2020 /CNW/ – Sun Life Global Investments (Canada) Inc. (“Sun Life Global Investments,” “SLGI”) today announced a risk rating change for Sun Life Real Assets Fund. Effective immediately, the risk rating for this fund has been lowered from “medium” to “low to medium.”

In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, Sun Life Global Investments reviews the risk ratings of its funds at least once a year, as well as when a fund undergoes a material change.

The Sun Life Real Assets Fund’s risk rating changed following an annual review that was conducted as part of Sun Life Global Investments’ ongoing fund review process. While the fund will be renamed to “Sun Life Real Assets Private Pool,” effective on or about February 26, 2020, the investment objectives and strategies of the fund remain unchanged.

About Sun Life Global Investments (Canada) Inc. 
Sun Life Global Investments is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada’s most trusted names in financial services with some of the best asset managers from around the world to deliver a truly global investment platform. As of January 31, 2020, Sun Life Global Investments manages $29.68 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2019, Sun Life had total assets under management of $1,099 billion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

© Sun Life Global Investments (Canada) Inc., 2020. Sun Life Global Investments (Canada) Inc. is a member of the Sun Life group of companies.

Media Relations Contact:
Alexandra Locke
Manager, Corporate Communications
T. 416-408-7357
Alexandra.locke@sunlife.com

SOURCE Sun Life Global Investments (Canada) Inc.

Related Links

http://www.sunlife.com

For love and money: Financial chemistry helps create winning formula

Two-thirds of Canadian couples link financial stability to relationship success: RBC poll

TORONTO, Feb. 13, 2020 /CNW/ – Successful long-term commitments rely on strong financial compatibility as well as romantic chemistry, according to the RBC 2020 Relationships & Money Insights Poll. The majority of Canadians with partners (85%) felt that having similar financial goals and habits was a prerequisite to their healthy, long-term relationships. Four-in-five (80%) believed it was important to speak with a prospective partner about finances before getting involved in a serious relationship.

In addition, the vast majority (91%) underlined the importance of prospective partners thinking along the same lines when it comes to spending and saving money, with almost two-thirds (62%) saying that the state of a potential partner’s finances could be a deal-breaker.

Setting clear financial boundaries was also a top priority (81%), with over two-thirds (69%) admitting that they would not combine their finances with their partner’s unless they knew that partner was financially stable.

“When you’re committing to a relationship, you’re inviting that special someone into your life, along with their finances,” says Sandra Abdool, Regional Financial Planning Consultant, RBC Financial Planning. “That’s a lot of sharing, and as a couple, it’s important to set clear financial boundaries to make sure you’re on the same page when it comes to spending, saving and managing your money.”

When it comes to fraternizing with your partner about your finances, it’s not just about what you say, but how often you say it, too. More than three-quarters (77%) of Canadians in relationships reported they speak with their partners about finances at least monthly, to create shared budgets (45%), come up with financial goals (41%) and save together (37%).

“While chemistry certainly counts, today’s couples want financial chemistry and compatibility, too,” adds Abdool. “By having frequent and honest conversations about your finances, you’re well on your way to building a sound financial and long lasting relationship together. Then go a step further – take time to do a reality check with a financial planner who can offer an outside perspective on financial compatibility.”

Here are tips from RBC to help Canadian couples stay on the same page and reach their financial and life goals together:

Find the budget that’s right for you: Discussing finances and setting clear financial goals and boundaries are important for any relationship. By coming up with a shared, realistic budget, Canadians can ensure they are on track with their partners, while leaving little room for surprises down the road. NOMI Budgets takes the thinking — and the manual calculation — out of setting up a budget for RBC clients. It focuses on five key categories and keeps the client on track by sending regular updates through the RBC Mobile app’s budget tracker.

Say “I do” to a shared financial plan: Creating a detailed financial plan and sharing this with your partner can help you work together to reach shared savings goals. Here’s where RBC Financial Planning can provide advice to help ensure money is there for you and your partner at various stages throughout your life together – for example, buying a car, getting a mortgage, raising a family and planning for retirement.

Invest for the future: Having a 20-minute conversation with a financial planner or advisor – in a bank branch or from the convenience of your home or office – can help you break the ice with your partner and begin talking about your shared financial goals. RBC’s MyAdvisor is an online financial advice service that connects you wherever you are with RBC financial planners and advisors who can give you guidance about how to build your financial future.

National and Regional Findings: RBC 2020 Relationships & Money Insights Poll

POLL QUESTIONS

CAN

BC

AB

SK/MB

ON

QC

AC

Finances are an important aspect of any
relationship. (Agree)

85%

83%

84%

90%

86%

85%

89%

I believe that it is important to regularly talk to
a partner about finances. (Agree)

87%

85%

89%

90%

89%

83%

94%

It is important to talk finances with a partner
before starting a serious relationship. (Agree)

80%

77%

83%

87%

82%

75%

85%

How often do you talk about your finances
with your partner? (At least once a month)

77%

83%

76%

76%

77%

74%

83%

What are you currently doing with your partner
re: your finances? (Budgeting together)

45%

42%

44%

50%

50%

35%

47%

What are you currently doing with your partner
re: your finances? (Setting financial goals)

40%

44%

51%

48%

44%

29%

31%

What are you currently doing with your partner
re: your finances? (Saving together)

37%

40%

45%

41%

41%

26%

31%

It’s important my partner and I are aligned on
how we spend and save our money. (Agree)

91%

89%

95%

94%

92%

87%

98%

Any deal-breakers in a relationship re:
partners’ financial situations (e.g. poor
spending habits, big credit card debt,
different financial priorities, no savings)?(Agree)

62%

64%

67%

61%

65%

57%

59%

I believe that having similar financial goals
and habits is a requirement for a healthy
long-term relationship. (Agree)

85%

79%

84%

90%

87%

81%

89%

I wouldn’t combine my finances with partner
unless they were financially stable. (Agree)

69%

65%

71%

75%

67%

74%

59%

The more financially stable my partner is, the
more likely they’re a long-term romantic option
for me. (Agree)

66%

60%

63%

68%

69%

65%

71%

About the RBC 2020 Relationships & Money Insights Poll
An online survey of 1000 Canadians who are married, common law, or in a dating relationship (either long or short term) was completed between January 3 and 11, 2020 using Leger’s online panel. The margin of error for this study was ±3.1%, 19 times out of 20.

Related Links

http://www.rbc.com

Cost of Love in Canada 2020: Nearly 1 in 5 Canadians Admit to Financial Infidelity

Cost of Love in Canada 2020: Nearly 1 in 5 Canadians Admit to Financial Infidelity

TORONTOFeb. 5, 2020 /CNW/ – One in five Canadians are committing financial infidelity by keeping a secret around money or spending in their relationship, according to a new Cost of Love survey from Rates.ca.

Money misrepresentations are most common among millennials, with almost 30 per cent of younger Canadians admitting to financial infidelity, and men are more likely (19 per cent) than women (13 per cent) to lie about money. Canadians who are dating or engaged are more likely to have a financial secret than those that are separated or married.

Three in ten (31 per cent) Canadians are hiding purchases they make from their significant other. Almost one-third are concealing their poor credit score, 21 per cent have hidden cash, 14 per cent have hidden bank accounts, and 10 per cent have a secret line of credit or a long-term loan.

“Hiding a poor credit score or a large sum of debt can have consequences in the future. Especially for partners buying their first home or financing a car. Being transparent and taking the right steps to manage debt or correct poor credit can prevent disappointment and further financial woes,” said Sara Kesheh, Vice President, Money, Rates.ca.

The survey also revealed that nearly half (47 per cent) of those in a relationship, say the value of their financial secret is $1,000 or more. Almost one in five admitted that their financial secret is $10,000 or more.

Dealing with Financial Infidelity

Half of Canadians with a financial secret believe nothing would happen if their significant other were to discover the secret.

Another 22 per cent say the worst consequence would be to fight and find a solution, two per cent feel it would result in a break-up, and only one per cent say it would result in divorce.

Whether you’re getting married, making a major purchase together or combining finances with a partner, Kesheh offers expert advice to avoid disagreements over money.

  • Talk about debt: Working as a team to manage the debt can help pay down the principal faster and accrue less interest on the balance. That won’t be an option for everyone; however, ignoring the debt could turn a small problem into a big one.

  • Create a budget: Track your spending to form an accurate budget. Be aware of how much income is coming in versus how much money is being spent. From there, pinpoint areas where you can cut back and create a plan for paying off the debt.

  • Use financial resources: Carrying a balance on a standard credit card can run the risk of the debt growing faster than it can be paid off. Many resources can help make the debt more manageable, including low-interest credit cards or balance transfer options. The key is never to skip a minimum payment and to pay more when you can.

  • Be a team: If you are on the reverse end of the secret, try to be patient, constructive, not critical, listen to what your partner needs and, most of all, be supportive.

The survey also revealed:

  • Of the four per cent of Canadians who are engaged, 24 per cent have a financial secret. Of the 11 per cent of Canadians who are dating, 23 per cent have a financial secret. Only 14 per cent of those separated or married are hiding their finances.
  • Married or separated couples are more likely to have financial secrets below $1,000, at 46 per cent and 53 per cent respectively.
  • Couples who are dating or engaged are more likely to have secrets valued at $1,000 or more, at 59 per cent and 53 per cent respectively.
  • Among Canadians with a financial secret: eight per cent have a secret credit card, nine per cent have secret investments, seven per cent have credit rewards points they haven’t told their significant other about, and five per cent have a secret payday loan.

To review the findings, visit Rates.ca.

About the Survey
An online survey of 1600 Canadians was completed between January 3 – 6, 2020, using Leger’s online panel. The margin of error for this study was +/-2.5%, 19 times out of 20.

About Rates.ca 

Rates.ca is Canada’s one-stop-shop for the best rates on insurance and money products. Rates.ca publishes rates from 30+ insurance providers so that shoppers can find the best rates for themselves. Use the site to find the best rates for auto, home and travel insurance, mortgages, and credit cards. Headquartered in Toronto, Ontario, Rates.ca is located at 360 Adelaide Street West, Suite 100, Toronto, ON, M5V 1R7

SOURCE Rates.ca

Related Links

https://rates.ca/

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China virus outbreak may wallop economy, financial markets

By Elaine Kurtenbach

THE ASSOCIATED PRESS

BANGKOK _ News that a new virus that has afflicted hundreds of people in central China can spread between humans has rattled financial markets and raised concern it might wallop the economy just as it might be regaining momentum.

Health authorities across Asia have been stepping up surveillance and other precautions to prevent a repeat of the disruptions and deaths during the 2003 SARS crisis, which caused $40 billion-$50 billion in losses from reduced travel and spending.

The first cases of what has been identified as a novel coronavirus were linked to a seafood market in Wuhan, suggesting animal-to-human transmission, but it now is also thought to be spread between people. As of Wednesday, more than 500 people were confirmed infected and 17 had died from the illness, which can cause pneumonia and other severe respiratory symptoms.

A retreat in financial markets on Tuesday was followed by a rebound on Wednesday, as investors snapped up bargains. Share benchmarks were mostly higher both in Asia and in Europe.

While the new virus appears much less dangerous than SARS, “the most significant Asia risk could lie ahead as the regional peak travel season takes hold, which could multiply the disease diffusion,” said Stephen Innes, chief Asian strategist for AxiCorp. “So, while the risk is returning to the market, the lights might not turn green until we move through the Lunar New Year travel season to better gauge the coronavirus dispersion.”

The 2003 outbreak of Severe Acute Respiratory Syndrome in China, along with cases of a deadly form of bird flu, resulted in widespread quarantine measures in many Chinese cities and in Hong Kong. More than 8,000 people fell sick and just under 800 people died, a mortality rate of under 10%.

While the ordinary flu kills hundreds of thousands of people each year, such new diseases raise alarm due to the uncertainties over how deadly they might be and how they might spread. That’s especially true during the annual mass travel of the Lunar New Year festival, which begins this week.

“The cost to the global economy can be quite staggering in negative GDP terms if this outbreak reaches epidemic proportions as, until this week, the market was underestimating the potential of the flu spreading,” Innes said in a report.

In China, health officials stepped up screening for fevers.  “We ask the public to avoid crowds and minimize the public gatherings to reduce the possibility of cross-infection,” Li Bin, deputy director of the National Health Commission, said Wednesday.

Just as with SARS, though, the impact of the disease is likely to fall heaviest on specific industries, such as hotels and airlines, railways, casinos and other leisure businesses and retailers, analysts said. Most declined Tuesday but rebounded on Wednesday as investors locked in profits ahead of the Lunar New Year holiday. The outbreak is a boon, meanwhile, for pharmaceutical companies and makers of protective masks and other medical gear.

“If the pneumonia couldn’t be contained in the short term, we expect China’s retail sales, tourism, hotel & catering, travel activities likely to be hit, especially in the first and second quarters,” said Ning Zhang of UBS. Government efforts to offset the shock would help, but growth will likely rebound less than earlier forecast, Zhang said.

As of Jan. 17, the World Health Organization had not recommended any international restrictions on travel but urged local authorities to work with the travel industry to help prevent the disease from spreading while warning travellers who fall ill to seek medical attention.

The illness is yet another blow for Hong Kong, whose economy is reeling from months of often violent anti-government protests. The wider concern is China, where the economy grew at a 30-year low 6.1% annual pace in 2019. An interim trade pact between Beijing and Washington had raised hopes that some pressure from tensions between the two biggest economies might ease, and the latest data have showed signs of improved demand for exports.

The virus outbreak raises the risk such optimism might be premature.

“According to our analysis of the spread of the SARS virus, which so far appears very similar to 2019-nCoV (the new virus), we expect increased downward pressure on China’s growth, particularly in the services sector,” Ting Lu and other analysts at Nomura in Hong Kong said in a commentary.

The growing number of global travellers has contributed to the spread of various diseases in recent years, including Middle East respiratory syndrome, the Ebola and Zika viruses, the plague, measles and other highly contagious illnesses.

The World Economic Forum estimates that pandemics _ cross-border outbreaks like the flu that killed 50 million people a century ago _ have the potential to cause an $570 billion in annual economic losses.

The 2014-16 Ebola virus epidemic caused losses amounting to over $2.2 billion, according to the World Bank. That includes a 40% decrease in the number of working Liberians at the height of the crisis, lower exports and harvests, and costs for combating the disease.

Apart from the human tragedy, such crises gobble up resources needed for other government spending, exacting a harsh toll on the poorest economies. In Africa, the loss of health care workers to Ebola resulted in thousands more deaths of mothers and babies, hindered work on other diseases such as preventing and treating malaria, HIV/AIDS and tuberculosis, reduced vaccination rates and fewer surgeries, the World Bank said in a report.

Many survivors, meanwhile, suffer from lingering effects of the illnesses and the powerful drugs used to save their lives, becoming more vulnerable to hunger and other risks.

At the same time, increasingly sophisticated tools for collecting data and analyzing are aiding efforts to prepare for and cope with severe disease outbreaks.

In 2016, the World Bank set up a $500 million rapid response insurance fund, working with the WHO and insurance companies, to combat pandemics in developing countries. The fund uses “cat bonds,” or catastrophe bonds, whose principal will be lost if the funds are needed to help deal with an outbreak. Private insurers have followed with products of their own meant to hedge against risks from such disasters.

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