Sun Life abandons the ETF market, at least for now

Rudy Luukko 19 March, 2018 | 9:00PM

Less than three months after acquiring a mini-family of exchange-traded funds, Sun Life Global Investments (Canada) Inc. is abandoning the ETF market.

Sun Life Global announced today its intention to terminate Excel Global Balanced Asset Allocation (EXGB) and Excel Global Growth Asset Allocation (EXGG), effective at the close of business on May 30.

The two actively managed ETFs, each of which has a meagre $2 million in assets and negative investment returns, were launched in May 2017 by the formerly privately owned Excel Funds Management Inc. Sun Life Global, a subsidiary of  Sun Life Financial Inc. (SLF), completed the acquisition of Excel Funds and its in-house portfolio-manager Excel Investment Counsel Inc. on Jan. 2.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Sun Life Financial Inc59.51 CAD-0.13

About Author

Rudy Luukko

Rudy Luukko  Rudy Luukko is a freelance writer who contributes to Morningstar.ca on topics involving fund industry trends and regulatory issues. He retired in May 2018 from his position as editor, investment and personal finance, at Morningstar Canada, where he had worked since 2004. He has also worked as an editor and writer for various general, specialty and institutional media, and he has co-authored courses for the Canadian Securities Institute. Follow Rudy on Twitter: @RudyLuukko.

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