Sun Life Completes Acquisition To Expand Wealth Management Operation

Robbie Lawther

4 January 2018

Sun Life Global Investments , a subsidiary of Sun Life Financial, has completed the purchase of Excel Funds Management and Excel Investment Counsel, an investment manager specializing in emerging markets funds.

Bhim Asdhir, formerly president and chief executive of Excel Funds, will join Sun Life Global Investments' leadership team in the newly-created role of head of emerging markets and business development, the firm said in a statement.

The financial terms of the deal were not disclosed.

According to the firm, the acquisition of Excel Funds helps accelerate the growth of Sun Life Global Investments and aligns with Sun Life Financial's broader strategy to expand its wealth management business in Canada, the firm said in a statement.

"Sun Life Global Investments has achieved a significant milestone, as we officially welcome Excel Funds to the Sun Life family,” said Rick Headrick, president of Sun Life Global Investments. “By expanding our lineup of emerging market funds and adding Excel's exchange-traded funds, clients will have more choices through which to achieve their financial goal. We're beginning the integration process, with the goal of ensuring a seamless transition for clients and advisors of both Sun Life Global Investments and Excel Funds."

Sun Life Global Investments manages $20 billion on behalf of institutional and retail investors.

Excel Funds Management is an investment fund manager offering actively-managed core and investment solutions to retail investors. Excel Funds has access to a global network of over 700 portfolio managers and 200 research analysts.