Sun Life Philippines offers its tech funds to holders of dollar-denominated plans
SUN LIFE of Canada (Philippines), Inc. (Sun Life Philippines) has made its Global Tech Funds available as options for its dollar-denominated investment-linked insurance plans.
“With the Global Tech Funds, clients can upgrade their financial portfolio and build an additional income stream by harnessing the growth potential of the global technology sector. By providing clients with the opportunity to capitalize on the sector’s explosive growth, we aim to empower their goals for the future,” Sun Life Philippines Chief Client Experience and Marketing Officer Carla Gonzalez-Chong said in a statement late on Tuesday.
The fund, which comes in two variants, can now be added to the insurer’s Sun FlexiDollar, Sun FlexiDollar1, and Sun MaxiLink Dollar One plans.
The two variants are the Global Tech Growth Fund, which accumulates earnings generated over time, and the Global Tech Payout Fund, which aims to generate consistent and quarterly cash flows with a potential annual payout of 7% of the fund value.
The Global Tech Funds are initially invested in a US dollar-denominated target fund that tracks the NASDAQ-100 Index. This includes top 100 US and international nonfinancial securities of industries such as hardware and software, telecommunications, retail and wholesale trade, and biotechnology.
Sun Life Philippines this will let dollar-denominated policy holders leverage on the strong profits and rising stock prices of major tech firms.
“The stock prices of major tech firms have soared and consistently outperform other industries, reflecting investor confidence and the sector’s resilience even in times of economic uncertainty… Market trends indicate that this growth trajectory is set to continue as the world becomes more digital and interconnected. With this, investing in the technology sector now offers several advantages, including ample opportunities for high returns,” it said.
Sun Life Philippines booked a premium income of P55.79 billion last year, ranking first in the industry, data from the Insurance Commission showed. Its net income was at P8.8 billion. — A.M.C. Sy
