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Fund Profile

Sun Life Real Assets Fund

$8.3798
CAD
Net asset value per security (NAVPS) as of November 15, 2019
$0.0423 0.51%
Benchmark

Blended benchmark§

Fund category

Global Equity

MorningstarTM Rating

★★

Funds in category

1493

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

 

Portfolio analysis (as of September 30, 2019)

Composition

%
Cash 2.0
Fixed income 0.0
Canadian equity 2.8
U.S. equity 37.3
International equity 55.4
Emg markets equity 1.4
Other 1.1

Equity style

Market cap %
Giant 5.6
Large 40.9
Medium 41.1
Small 10.9
Micro 1.4

Geographic composition %
United States 38.5
United Kingdom 12.5
Italy 10.9
France 5.4
Japan 4.4
Australia 3.6
Hong Kong 3.3
Germany 3.2
Canada 2.9
Spain 2.3
Others 12.9
Global equity sectors* %
as of September 30, 2019
Utilities 23.6
Energy 0.2
Financials 0.2
Materials 3.7
Consumer discretionary 1.1
Consumer staples 2.3
Telecommunication services 2.9
Industrials 27.8
Health care 1.0
Information technology 2.9
Real Estate 34.5

Top ten holdings %
as of September 30, 2019
National Grid PLC 3.4
Norfolk Southern Corp 3.0
Atlantia SpA 2.8
Terna SpA 2.8
Snam SpA 2.7
United Utilities Group PLC 2.3
CSX Corp 2.2
Vinci SA 2.1
Ferrovial SA 1.8
SES SA DR 1.7
Total number of portfolio holdings 202

Performance analysis (as of October 31, 2019)

Calendar year YTD 2018 2017 2016 2015* 2014 2013 2012 2011 2010 2009
Total assets $M 16.1 14.9 15.2 11.0 5.9 - - - - - -
Fund return % 12.9 -3.1 9.4 7.1 -6.8 - - - - - -
Category return % 14.2 -4.5 13.6 3.3 - - - - - - -
Distribution $/security 0.12 0.32 1.83 0.48 0.44 - - - - - -
Quartile
(within category)
3 3 3 2 - - - - - - -
Trailing 1 mth 3 mth 6 mth 1 yr 2 yr 3 yr 5 yr 10 yr Since
inception
Fund return % 2.1 4.9 3.7 12.4 3.1 5.4 - - 3.8
Category return % 1.3 1.5 0.4 10.6 4.8 8.3 - - -
MorningstarTM rating - - - - - ★★ - - -
Quartile
(within category)
1 1 1 2 3 4 - - -
# of funds in category 2202 2187 2172 2095 1675 1493 - - -
Calendar yearTrailing

Calendar year

Total assets $M

  • YTD
  • 2018
  • 2017
  • 2016
  • 2015*
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 16.1
  • 14.9
  • 15.2
  • 11.0
  • 5.9
  • -
  • -
  • -
  • -
  • -
  • -

Fund return %

  • YTD
  • 2018
  • 2017
  • 2016
  • 2015*
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 12.9
  • -3.1
  • 9.4
  • 7.1
  • -6.8
  • -
  • -
  • -
  • -
  • -
  • -

Category return %

  • YTD
  • 2018
  • 2017
  • 2016
  • 2015*
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 14.2
  • -4.5
  • 13.6
  • 3.3
  • -
  • -
  • -
  • -
  • -
  • -
  • -

Distribution $/security

  • YTD
  • 2018
  • 2017
  • 2016
  • 2015*
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 0.12
  • 0.32
  • 1.83
  • 0.48
  • 0.44
  • -
  • -
  • -
  • -
  • -
  • -

Quartile (within category)

  • YTD
  • 2018
  • 2017
  • 2016
  • 2015*
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 3
  • 3
  • 3
  • 2
  • -
  • -
  • -
  • -
  • -
  • -
  • -

Trailing

Fund return %

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 2.1
  • 4.9
  • 3.7
  • 12.4
  • 3.1
  • 5.4
  • -
  • -
  • 3.8

Category return %

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 1.3
  • 1.5
  • 0.4
  • 10.6
  • 4.8
  • 8.3
  • -
  • -
  • -

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
  • 1
  • 1
  • 1
  • 2
  • 3
  • 4
  • -
  • -
  • -

# of funds in category

  • 1 mth
  • 3 mth
  • 6 mth
  • 1 yr
  • 2 yr
  • 3 yr
  • 5 yr
  • 10 yr
  • Since inception
  • 2202
  • 2187
  • 2172
  • 2095
  • 1675
  • 1493
  • -
  • -
  • -

*For the period February 02 to December 31.

*Note: On May 31, 2019, the Sun Life Real Assets Fund, previously the Sun Life Infrastructure Fund, changed its name and underwent a change in investment objective. Performance prior to this date relates to the Fund’s previous investment mandate and may differ substantially from the future performance under its new mandate.

3-YEAR RISK MEASURES (as of October 31, 2019)

Annualized returns are used to calculate the risk metrics below.
Standard deviation (fund) 8.51 Sharpe ratio 0.54 Alpha 0.53
Standard deviation (category) 9.58 R2 19.66 Beta 0.41
Standard deviation (fund) 8.51
Sharpe ratio 0.54
Alpha 0.53
Standard deviation (category) 9.58
R2 19.66
Beta 0.41
  • Standard deviation is a measure of volatility; it shows how broadly returns have varied over a given time period. Generally, a high standard deviation implies greater volatility.
  • Sharpe ratio combines a risk measurement and a return measurement into a single number to determine a fund's risk-adjusted return. A higher value is better.
  • R2: reflects the percentage of a portfolio's movements that can be explained by movements in its benchmark. It is measured on a scale of 0-100.
  • Alpha measures the difference between a fund's return and its benchmark, taking into account volatility (beta). An alpha of 1 means a fund outperformed its benchmark by 1%; -1 means the fund underperformed by 1%.
  • Beta measures the movement of a fund in relation to its benchmark. A beta over 1 means price moves are greater (up or down) than the benchmark's; below 1 means less extreme price moves; 1 means it moves in step with its benchmark.

Current value of a $10,000 investment

$

Time frame:

Update

Investment management approach

The Sun Life Real Assets Fund uses a multi-manager investment approach designed for portfolio diversification, inflation protection, and growth potential through a portfolio of listed real assets.

Asset allocation:
An experienced team at Sun Life Global Investments actively sets the overall asset allocation strategy of the Fund and tactically shifts the portfolio to capture potential market opportunities and inefficiencies or to protect capital.

Underlying managers:
The Fund's underlying asset classes allocated to three global asset managers selected for their specialist expertise:

  • Global Infrastructure: Lazard Asset Management (Canada) Inc.
  • Global REITs: MFS Investment Management Canada Limited
  • Natural resources: KBI Global Investors (North America) Ltd.

The sub-advisor and underlying managers are subject to change.

Overview

Investment objective

The Fund’s investment objective will be to seek to provide long-term capital appreciation while preserving purchasing power, including during periods of rising inflation, by investing primarily in a diversified portfolio of global securities.

 

This Fund may be suitable for investors who:

  • seek to preserve purchasing power, including during periods of rising inflation;
  • seek long-term capital appreciation;
  • are long term investors; and
  • are comfortable with medium investment risk
 

Fund essentials

Inception date Feb 2, 2015
Min initial inv $ 500
Min additional inv $ 50
MER % unaudited as at June 30, 2019 2.45
Management fee % 1.95

 

 
Management company
Sun Life Global Investments (Canada) Inc.
 

Sub advisor
As of May 31, 2019, the Fund was transitioned to a multi-manager
structure as follows:

  • Lazard Asset Management (Canada), Inc. (Global Listed Infrastructure)
  • MFS Investment Management Canada Limited (Global REITs)
  • KBI Global Investors (North America) Ltd. (Global Natural Resources)
 
Class Load structure Currency Fund Code
A ISC CAD SUN185
A DSC CAD SUN285
A LSC CAD SUN385
 

Risk profile

Risk profile: Medium
Refer to the Simplified Prospectus for greater detail.

Management team

Lazard

  • Warryn Robertson,
    Portfolio manager / Analyst
  • John Mulquiney,
    Portfolio manager / Analyst
  • Bertrand Cliquet,
    Portfolio manager / Analyst
  • Matthew Landy,
    Portfolio manager / Analyst
  • Anthony Rohrlach,
    Portfolio manager / Analyst
  • Edward Keating,
    Portfolio manager / Analyst

MFS
Richard Gable, CFA, Portfolio Manager

KBI Global Investors (North America) Ltd.

  • Noel O’Halloran,
    Chief Investment Officer
  • Colm O’Connor,
    Senior Portfolio Manager
  • Andros Florides,
    Senior Portfolio Manager
  • Catherine Cahill,
    Senior Portfolio Manager
  • Treasa Ni Chonghaile,
    Senior Portfolio Manager
  • Matt Sheldon,
    Senior Portfolio Manager

Notes and Disclaimers

Blended benchmark: 35% FTSE EPRA / NAREIT Developed Index (C$), 35% S&P Global Infrastructure Index (C$), 30% S&P Global Natural Resource Index (C$)

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.

Compound growth calculations are used only for the purpose of illustrating the effects of compound growth and are not intended to reflect the future value of any mutual fund or returns on investment in any mutual fund. 

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).

Morningstar Market Capitalization Breakdown Stocks are first divided into seven style zones based on their country of domicile: United States, Latin America, Canada, Europe, Japan, Asia ex-Japan, and Australia/New Zealand. Capitalization assignments are determined as follows: 1) For all stocks in a style zone, the market cap of each stock is converted into a common currency. The stocks in each style zone are ordered in descending order by size, and a cumulative capitalization as a percentage of total sample capitalization is calculated as each stock is added to the list. 2) The stock that causes cumulative capitalization to equal or exceed 40% of the style zone's total cap is the final one assigned to the giant-cap group. 3) The largest of the remaining stocks are assigned to the large-cap group until cumulative capitalization equals or exceeds 70% of the total capitalization of the style zone. 4) The largest of the remaining stocks are assigned to the mid-cap group until cumulative capitalization equals or exceeds 90% of the total capitalization of the style zone. 5) The largest of the remaining stocks are assigned to the small-cap group until cumulative capitalization equals or exceeds 97% of the total capitalization of the style zone. 6) The remaining stocks are assigned to the micro-cap group. The Market Capitalization Breakdown at a fund level is a breakdown of the capitalization assignments of the fund's equity holdings.

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 Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Sun Life Global Investments (Canada) Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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.

© 2019 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.