Sun Life Global Investments to acquire Excel Funds

The move will expand SLGI’s line-up of emerging markets funds

Sun Life Global Investments to acquire Excel Funds

Sun Life Global Investments (Canada) Inc. and Excel Funds Management Inc. announced today that they have entered into an agreement whereby Sun Life Global Investments will purchase all of the outstanding shares of both Excel Funds Management Inc. and Excel Investment Counsel Inc. (collectively, “Excel Funds”).

Excel Funds is an award-winning investment manager specializing in emerging markets funds with approximately $700 million in assets under management.

“Since launching in 2010, Sun Life Global Investments has experienced tremendous growth with over $18 billion in assets under management; we actively look for opportunities to expand the range of innovative solutions we offer to our Clients,” said Rick Headrick, President, Sun Life Global Investments. “Acquiring Excel Funds is a great fit for us, bringing a complementary product line-up that uses a sub-advisor business model similar to our own.”

Added Sadiq S. Adatia, Chief Investment Officer, Sun Life Global Investments, “We believe that emerging markets, such as India, represent an important growth opportunity for investors and are excited to soon be able to offer quality, actively managed funds in categories where active management tends to outperform the passive alternative.”

“Becoming part of Sun Life Global Investments is a natural evolution for Excel Funds which will now be part of a much larger global fund family,” said Bhim D. Asdhir, President and Chief Executive Officer of Excel Funds. “We are a pioneer in emerging markets investing in Canada and providing Canadian investors with innovative investment solutions using some of the best asset managers from around the world.”

Following completion of the transaction, Mr. Asdhir will join the Sun Life Global Investments leadership team. He will be a member of the integration planning committee and continue as the senior relationship manager for the funds’ sub-advisors and brokers.

The transaction is expected to close by the end of the fourth quarter of 2017, subject to the satisfaction of certain conditions, including the receipt of regulatory and Excel Funds’ unitholder and shareholder approvals.