Sun Life trust arm eyes P450 billion in assets under management

Sun Life Investment Management and Trust Corp. (SLIMTC), the local trust arm of Canadian insurance giant Sun Life, is targeting a double-digit growth in its assets under management (AUM) by year-end, according to a report by Manila Bulletin.

“We have an ambitious target this year especially as we are launching the retail UITFs [unit investment trust funds]. So we’re looking at growing the business more on the retail side,” said SLIMTC President Michael Gerard D. Enriquez during the company’s press briefing last week.

Enriquez told reporters that the target AUM is approximately %u20B1450 billion in 2025, driven by at least 10-percent growth across its key segments: insurance assets, institutional and high-net-worth clients, and retail investments.

Last year, SLIMTC reported that it had assets worth %u20B1400 billion as of December 2024, ballooning from its 2023 AUM which stood at around %u20B1220 billion, according to Enriquez.

Set to launch in April, Enriquez noted that the retail UITFs are a major driver to SLIMTC’s growth. SLIMTC aims to attract at least %u20B110 billion in AUM from these retail investments alone, complementing its existing institutional UITF offerings.

Enriquez said that while UITFs are seen to contribute significantly, the bulk of AUM growth will still come from their insurance business, which remains a strong driver due to ongoing premium payments.

Over the next five years, Enriquez said they “would like to be one of the leading investment management companies in the Philippines.”

“I think our ambition is really more on being able to offer a very diversified suite of products for our clients, especially leveraging on our global expertise.”

He explained that the firm capitalizes on its global network, including experts from North America and Asia, to develop unique investment products, which could potentially address “product gaps in the industry,” Enriquez said.

But he stressed the major challenges that the company has been grappling with, particularly in reaching out to more clients, and deepening its relationship with existing clients.

Previously focused on protection products, the firm now offers investment solutions as well.

“We’re experiencing an identity crisis when presenting ourselves to the market—Sun Life is a strong brand in insurance but not yet a strong brand in investment management,” Enriquez said.

SLIMTC relies on its advisors’ deep client relationships to offer a full range of financial solutions, from insurance to investments.

Ritchie Ryan G. Teo, SLIMTC’s chief investment officer, also noted that they have an active global fund management and multi-asset strategy to provide diversified, all-weather investment products.

With these advantages, SLIMTC is eyeing a spot among the country’s top three investment firms in the coming years.