Investors who are affected by the operational adjustments on the Bangko Sentral ng Pilipinas’ (BSP) special deposit accounts (SDA) facility now have several options to grow their money through Sun Life of Canada (Philippines) Inc. products.
“We hope that those looking for a viable alternative to SDAs would consider investing with Sun Life as our products can provide the same—if not better–earning potential,” Sun Life Chief Marketing Officer Mylene Lopa said in a statement.
SDA is a monetary facility instrument made available to banks for managing excess domestic liquidity in the financial system.
BSP’s new guideline states that individuals are no longer allowed to make direct placements in the facility by November 30 this year. The SDA facility can now only be accessed through participation in pooled funds of Trust Departments of banks.
“Our Sun Life advisors can guide clients through the process of choosing a suitable financial product based on their needs,” Lopa said.
Sun Life stated that its product options available include the “variable unit-linked [VUL] life insurance products and Sun Life Prosperity Funds.”
It noted that the VUL products that clients can explore include the Sun FlexiLink, Sun MaxiLink One, Sun MaxiLink Prime, and Sun MaxiLink Bright—under which clients can invest in Bond/Income Fund, Balanced/Opportunity Fund, and the Equity/Growth Fund.
“These funds offer higher earning potential and provide clients the freedom to diversify investments depending on their investment goals and inclinations,” it stated.
Sun Life explained that clients can apply for VUL products such as the Sun MaxiLink One for as low as P250,000, as the product has shown higher historical returns than SDAs.
“For example, the 2013 year-to-date returns show that Sun MaxiLink One’s Peso Income Fund marked a return of 17 percent,” it added.
The insurance firm said that there are seven mutual fund options to choose from under the Sun Life Prosperity Funds, which are managed by Sun Life Asset Management Co. Inc.: Philippine Equity Fund, Balanced Fund, Bond Fund, Dollar Abundance, Dollar Advantage, GS and Money Market.