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The Sun Life Financial building in Toronto.
The Sun Life Financial building in Toronto.
(MICHELLE SIU FOR THE GLOBE AND MAIL)

Sun Life adds new asset management business

Sun Life Financial Inc. is adding a new asset management business to attract defined-benefit pension plan investment with the promise of higher yields than in the public market.

The move comes at a time where persistent low interest rates can be a drag on bond investments. Sun Life Investment Management Inc. will launch with three pooled funds for institutional investors that mirror the same investment strategies Sun Life has been using internally to manage its own assets.