The strategy, announced earlier this year, was for parent firm Sun Life Financial to purchase the minority shares in its McLean Budden investment management subsidiary, and then transfer the unit to its MFS business.

Purchase price of those shares, which made up around 32.4 per cent of the business, was around C$144 million , plus additional performance target-based payments.

The entity now branded as MFS McLean Budden is based in Toronto, with offices in Montreal and Vancouver, and manages some C$30.4 billion in assets for pension, foundation and endowment, private wealth, and mutual fund clients.