How To Open a Mutual Fund Account with Sun Life?

May 21, 2012 | By Garry De Castro | Filed in: How Tos, Mutual Funds.

This question was raised in one of the many seminars I’ve conducted just recently. Though I already posted a general procedure on how to open a mutual fund account in the Philippines, this one will equip you with the necessary details in case you want to open a Mutual Fund Account with Sun Life.

In case you have no idea yet what’s Mutual Funds, I suggest you check this page first – Mutual Funds in the Philippines

 

Sun Life Prosperity Funds

Say you’re already convinced to open a mutual fund account with Sun Life (Sun Life Prosperity Funds), below are the different types of funds you may choose from depending on your Objectives, Risk Appetite etc.

*Taken from Sun Life website (www.sunlife.com.ph)

Type of Prosperity Fund What’s My Objective? Where will my money go? What’s my risk appetite? How much is the minimum investment? What’s the minimum amount if I want to add?
Money Market Fund I just want to leave my cash for a short period of time and earn from it, too. This Fund invests in special savings accounts I’m very conservative Php 5,000 Php1,000
GS (Government Securities) Fund I want my money to earn but my investment should be kept intact. This Fund invests mainly in government debt I’m conservative Php 5,000 Php1,000
Bond Fund I want my money to earn but my investment should be kept relatively stable. This Fund invests in government and high-quality corporate debt I’m moderately conservative Php 5,000 Php1,000
Balanced Fund I want my money to earn more and I can afford to lose some of my investment for higher return This Fund invests in a mix of  high-quality debt and equity securities I’m somewhat between conservative and risky Php 5,000 Php1,000
Philippine Equity Fund I want to maximize the potential of my money for  higher return over the long term This Fund invests mainly in  high-quality equity securities I believe in the saying, “high risk, high return” Php 5,000 Php1,000
Dollar Abundance Fund I want to invest my US dollars to preserve it. This Fund invests in foreign-denominated government and high-quality corporate debt I’m conservative USD 1,000 USD 200
Dollar Advantage Fund I want to invest my US dollars and I can afford to lose some of my investment for higher return This Fund invests in a mix of  high-quality debt and equity securities I’m somewhat between conservative and risky USD 1,000 USD 200

 

Sales Load / Fees / Sales Charge

All mutual funds in the Philippines have compulsary sales loads/fees. Only Sun Life has the option to choose whether you will be charged or none at all.

Below are the Sales Load / Fees of Sun Life depending on the options you choose.

If you choose Front End (A), the corresponding fees apply – no more exit fees.

If you choose Back End (B), no sales load/ fees upon entry. You will only be charged when you redeem or withdraw your money depending on the duration it was invested.

 

Front End (A)

Sales Load Rate (Excluding VAT)
PESO FUNDS
Less than P100k 2.00%
P100k to less than P1M 1.50%
P1M to less than P5M 1.00%
P5M and up 0.50%
DOLLAR FUNDS
Less than $2k 2.00%
$2k to less than $20k 1.50%
$20k to less than $100k 1.00%
$100k and up 0.50%

Back-End (B)

Redemption on BACK-END Load Rate(Excluding VAT
1st year 5.0%
2nd year 4.0%
3rd year 3.0%
4th year 2.0%
5th year 1.0%
Beyond 5 years None

Requirements in Opening a MF Account with Sun Life

Opening a mutual fund account with Sun Life is very easy. You just need to fill up and submit the following:

  1. Client Information Form –  Basic details about the Principal Investor, Co-Investor (if applicable) or Company / Institution. Included also in this form is the signature card (3 signatures) just like when opening an account in a bank.

  2. Investor Profile Questionnaire – Set of questionnaires to determine if you’re a conservative or aggressive investor.

  3. Order Ticket (Initial Investment) – As compared to depositing to your account in the bank, this is the deposit slip.

  4. Enrollment to Mutual Fund Services – You can enroll your mutual fund account to services like Auto Credit to your Bank Account, receive On-Line Statement of Accounts and Fascimile Transactions for subsequent (additional) investments.

  5. Submit a Photocopy of your ID (government issued ID’s preferred).
  6. Initial investmentminimum of P5,000 if Peso Account or minimum of $1,000 if Dollar Account. You may pay in cash or check (payee is SLAMC or Sun Life Asset Management Company, Inc.). In case you want to put bigger amounts, you may deposit it directly to Sun Life Asset Management Company, Inc’s account (details below) and submit the deposit slip along with your application form.(More details on Page 2 of Order Ticket (Initial Investment).

    Account Name: Sun Life Asset Management Company Inc.

    • Banco de Oro 046-004225-4
    • Metrobank 066-3718-10691-6 Cash deposits, with charges.*
    • Bank of the Phil. Islands 0073-1798-07
    • Phil. National Bank 264-522191-8 (With charges for deposits outside Metro Manila)
    • Chinabank 203-103621-6
    • Citibank 5-602714-022
    • RCBC 3-001-00840-3
    • HSBC 000-270579-070
    • Security Bank 0514-020724-200
    • Land Bank 1801-0249-00

Note: We’ll need a total of 7 signatures

  • 4 signatures in Client Information Form
  • 1 signature in Investor Profile Questionnaire
  • 1 signature in MF services
  • 1 signature in Order Ticket (initial)

Things to Remember on the Order Ticket (Initial Investment)

  • Fund Name – Which fund are you investing in? Is it Equity Fund, Balanced, Bond, Money Market, GS Fund, Dollar Abundance or Dollar Advantage
  • Source of Funds – Don’t forget to check from which the funds came from
  • Fees / Sales Charge / Sales Load – On the “Sales Load” part, put in either A for “Front End” or B for “Back End”
  • Type of Payment – check the checkbox if it’s Cash, Check  or TT (Telegraphic Transfer)
  • Signature(s) – Don’t forget to affix your signature

 

Why Invest in Sun Life?

The answer is very simple and straightforward. Sun Life is the only mutual fund company in the Philippines that has the option where you will not be charged (thru Back End Option).

Yes, Sun Life may not be the best performer in terms or returns (check www.pifa.com.ph).

But if you’ll deduct the compulsary front-end sales load from the top 3 leading MF (fees ranging from 2%-5.6%), you’ll notice that Sun Life is the top net performer among the local mutual fund companies here in the Philippines. – will make a post comparing the different sales load fees of different mutual funds later.

 

I Want to Start Investing Now!

In case you’re ready to open a mutual fund account with Sun Life, download and fill up all the necessary forms stated above and contact me using the following details below. We can meet up in any of the Sun Life Offices in NCR / Bulacan / Pampanga / Bataan.

If you’re from far north or south, I can refer you to fellow Licensed Sun Life Mutual Fund Representative in your respective area.

Garry Zaldy De Castro
Licensed Mutual Fund Representative / Financial Advisor, Sun Life Financials
Mobile No. : 0922 897 8077 / 0916 414 7400
Landline No.:  (02) 818-2432 loc. 126 (I’m not always in the office though)
Email: garryzaldy.s.decastro@sunlife.com.ph
YM / Skype: gigabytes27

 

Or you may simply fill in the form in the link below and I’ll be the one to contact you.

Happy Investing!

 

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Garry Zaldy de Castro is an advocate, Financial Advisor, Certified Investment Solicitor (Mutual Fund Representative), blogger, IT practitioner, husband to Aileen and a dad to Jacob and JohnD. He started Financial Planning Philippines in 2008 just to share his financial learning to friends, relatives and anyone who wishes to be financially independent.

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