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Rating:MFS' Parent Consolidates Canadian Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 29, 2012

MFS' Parent Consolidates Canadian Funds

News summary by MFWire's editors

MFS' [profile] 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. 

Edited by: HFD

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