Sun Life Philippines said it is officially entering the trust business in the country, launching its latest unit Sun Life Investment Management and Trust Corp. (SLIMTC).
“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 Philippines,” the company said.
“The company will leverage on the strong leadership position of its parent company, Sun Life of Canada,” it added.
Benedict Sison, Sun Life Philippines chief executive officer, said the company 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.”
Mike Gerard Enriquez, SLIMTC president and Sun Life Philippines chief investment officer, said the venture into the trust business was also in response to institutional investors’ demand for such a service. Sun Life is strong in capturing the retail segment of the financial sector but hardly taps the growing institutional segment.
Enriquez said several institutions have approached Sun Life in the past, but it did not have the right platform to service them then.
“There is a gap in the trust solutions and services being offered in the country. SLIMTC was envisioned to fill this gap by providing more relevant investment solutions,” Enriquez said.
“We will also provide the needed education that will empower investors to take on more sophisticated financial instruments.”
SLIMTC is the latest addition to Sun Life’s businesses in the Philippines, which include life insurance under Sun Life of Canada (Philippines), Inc., bancassurance under Sun Life Grepa Financial, Inc., and asset management under Sun Life Asset Management Company, Inc.
