] parent is merging two Canadian mutual fund businesses next week. Rudy Luukko of Morningstar Canada reports
that on April 2 the McLean Budden Funds
, will merge with the Sun Life Global Investments Offerings
, under MFS.
Sun Life first launched its Canadian mutual funds in the fall of 2010 [see MFWire.com, 5/13/2010
]. On the McLean Budden side, in September 2011 Sun Life agreed to pay $144 million to snap up the final 32.4 percent of McLean Budden. McLean is now a subsidiary of MFS, called MFS McLean Budden, and it will serve as a sub-advisor to Sun Life funds.
The fund family merger also follows the elevation of new leadership for MFS McLean Budden. In November MFS sent Marty Beaulieu
, formerly head of distribution, north to Toronto to take the chairman and CEO spots at MFS McLean Budden, succeeding Roger Beauchemin.
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