Sun Life Global Investment's plan of merging Sun Life MFS Canadian Equity Fund and Sun Life MFS Canadian Equity Value Fund into Sun Life MFS Canadian Equity Growth Fund will no longer push through, the financial firm announced.
Early in July this year, Sun Life announced the merger of the two following the approval of the funds' Independent Review Committee. In a statement back then, Sun Life said the two funds will be capped to new investors, with the merger being completed on a tax-deferred basis.
Following the cancellation of the merger, the group re-opened Sun Life MFS Canadian Equity Fund and Sun Life MFS Canadian Equity Value Fund to new investors. The group noted that the name and investment strategies, as well as the underlying funds of two, will remain unchanged.
The firm said it will continue with the periodic reviews and adjustments to its mutual fund lineup in the efforts of generating long-term value for clients.
Should the merger proceeded, the Sun Life MFS Canadian Equity Growth Fund will be the successor underlying trust fund for the Sun Life MFS Canadian Equity Class, which will then be renamed to Sun Life's MFS Canadian Equity Growth Class.
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