Sun Life Philippines has officially entered into the country’s trust business. The giant insurance and financial investment firm recently launched the Sun Life Investment Management and Trust Corporation (SLIMTC).
In a press release, Sun Life Philippines said SLIMTC was established to provide multi-strategy local and global portfolio management services and deliver superior risk-adjusted returns for both individual and institutional investors in the country. The new business will leverage the strong leadership position of the parent company Sun Life of Canada.
“We saw an opportunity to expand our business amid the continuous growth and evolution of investment products sought by both individual and institutional investors in the country,” said Sun Life Philippines CEO and Country Head Benedict Sison.
Sun Life Philippines Chief Investments Officer Michael Gerard Enriquez, who has held the position for nine years, has been appointed as SLIMTC President and Chief Investment Officer.
“There is a gap in the trust solutions and services being offered in the country,” Enriquez said. “SLIMTC was envisioned to fill this gap by providing more relevant investment solutions. Moreover, we will also provide the needed education that will empower investors to take on more sophisticated financial instruments.”
SLIMTC will be distinct from the well-established Sun Life Asset Management Company, Inc. (SLAMCI) as it will focus on trust, retirement funds, and institutional investments whereas the latter is concentrated in offering mutual funds to clients.
During the media briefing for the launch, Enriquez also disclosed that for quite some time, several institutions have been approaching Sun Life Philippines. SLIMTC is the much-awaited platform for Sun Life to accommodate them.
SLIMTC is also capitalizing on Sun Life Philippines’ strong institutional capability through its dynamic investment team, diversified investment solutions, reliable portfolio risk and analytics, and differentiated client experience.
The new trust business joins Sun Life’s existing businesses in the country—life insurance under Sun Life of Canada (Philippines), Inc.; bancassurance under Sun Life Grepa Financial, Inc.; and asset management under SLAMCI.
To learn more about SLIMTC, you may send an email to SLIMTC.Communications.Notice@sunlife.com.