Sun Life Completes Majority Acquisition of Advisors Asset Management

Toronto, Ontario; wellesley, massachusetts; colorado monument, February 1, 2023 /PRNewswire/ – Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (“Sun Life”) today announced the completion of its 51% acquisition.¹ Investment in Advisors Asset Management, Inc. (“AAM”), a leading independent retail distribution company in the United States. AAM will become part of SLC Management, Sun Life’s institutional fixed income and alternative asset manager. AAM will become the US retail sales division of SLC Management.

AAM offers a variety of solutions and products to telecommunications financial advisors, registered investment advisors and independent broker-dealers. AAM has exclusive rights to market and promote certain of SLC Management’s alternative investment products in the US retail market. Directed by AAM $40.5 billion (about 55 billion Canadian dollars) current assets December 31, 2022With 10 offices in 9 US states, AAM has a team of over 270 professionals.

Acquiring a majority stake in AAM will enable SLC Management and its affiliated investment managers BentallGreenOak, Crescent Capital Group, and InfraRed Capital are enabled. A partner that provides investment strategies to the US HNW market. The transaction is also strategic for AAM, expanding its product portfolio to include a range of alternative products in commercial real estate, private credit and infrastructure.

The transaction includes a put/call option, pursuant to which Sun Life may acquire the remaining outstanding ownership of AAM from 2028. AAM will continue to operate under its current leadership, retaining its individual brands, office locations and clients.

The original news release associated with this announcement is available here.

Note to Editors: All figures are in Canadian dollars unless otherwise stated.

About Sunlife
Sun Life is an international financial services organization that provides wealth management, wealth, insurance and health solutions to individual and institutional clients. Sun Life operates in many markets around the world. Canada, usa, England, Ireland, Hong Kong, Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia When Bermuda. Current September 30, 2022Sunlife’s total assets under management is $1.27 trillion. For more information, please visit www.sunlife.com.

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Sun Life Financial Inc. Toronto (TSX), New York (NYSE) and the Philippines (PSE) stock exchanges under the ticker symbol SLF.

About SLC management
SLC Management is a global institutional asset manager, providing institutional investors with traditional and alternative yield-oriented investment solutions in public and private fixed income markets, as well as global real estate equity and debt. We also offer SLC Management is the brand name for the institutional wealth management business of Sun Life Financial Inc., a Sun Life Capital Management (US) LLC entity usaand Sun Life Capital Management (Canada)Ltd Canada operate. These entities, also known as SLC Fixed Income, represent SLC Management’s investment grade public and private Fixed Income strategies.

BentallGreenOak, InfraRed Capital Partners (InfraRed), and Crescent Capital Group (Crescent) are also part of SLC Management. BentallGreenOak is a leading global real estate investment management advisor and a globally recognized provider of real estate services. InfraRed is an international investment manager focused on infrastructure, managing the equity capital of multiple private and listed funds primarily for institutional investors around the world. Crescent is a global alternative credit investment asset manager registered as an investment adviser with the US Securities and Exchange Commission. Crescent operates in the United States and Europe Invests in high yield bonds and broadly syndicated loans.

Current September 30, 2022SLC Management has assets under the control of CAD 353 billion ($255 billion).

For more information, visit slcmanagement.com.

CRN: SLC-20230127-2704013

About Advisors Asset Management
For over 40 years, AAM has been a trusted resource for financial advisors and broker/dealers. It provides access to unit investment trusts (UITs), open-ended and closed-ended mutual funds, separate managed accounts (SMAs), structured products, fixed income markets, portfolio analysis, and exchange traded funds (ETFs). For more information, please visit www.aamlive.com.

the current December 31, 2022AAM’s brokerage and advisory services are approximately $40.5 billion in assets. (Assets under supervision are $5.4 billion in UIT assets.the company has $31.4 billion This represents a non-proprietary property for which AAM provides varying levels of service but no management.Company’s $3.7 billion Assets under management represent AAM’s own separately managed accounts, mutual funds, and ETF assets. )

Advisors Asset Management, Inc. (AAM) is an SEC registered investment advisor and a member of FINRA/SIPC.

CRN 2023-0126-10609 R

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Source: Sunlife Financial Co., Ltd.