trending Market Intelligence /marketintelligence/en/news-insights/trending/5rwmbltrc3uxjjlm7ymmvg2 content esgSubNav
In This List

Sun Life Global Investments temporarily exiting ETF space

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall


Sun Life Global Investments temporarily exiting ETF space

Sun Life Global Investments (Canada) Inc. and Excel Funds Management Inc. will close Excel Global Balanced Asset Allocation ETF and Excel Global Growth Asset Allocation ETF on or about May 30.

Sun Life Global Investments said in a statement that, effective immediately, no further direct subscriptions for units of the ETFs will be accepted.

Redemption requests may be placed until May 24. Units of the ETFs are expected to be delisted from the Toronto Stock Exchange on or about May 25.

Any remaining unit holders of either ETF as of the termination date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of that ETF, on a pro rata basis.

Sun Life Global Investments Chief Investment Officer Sadiq Adatia said in a statement that the company will continue to "explore the best potential approach for entering the ETF space."