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Canadian company ties up bond deal with Newton

Sun Life Financial of Canada is linking up with Newton Fund Managers to

roll out two investment bonds in August.

The Basingstoke-based life office plans to link two Newton funds into its

Select Investment bond.

Sun Life Financial, which recently floated on the stockmarket, will also

be launching a protected growth fund with Edinburgh Fund Managersin August.

Downside protection will be fixed at 90 per cent in cash deposits and 10

per cent invested in derivatives.

All unit-linked Sun Life Financial products will have the option of going

into the Edinburgh Fund Managers fund.

The life office is in discussions with two other fund managers and says it

wants to expand the range on offer but is holding off for a while.

Sun Life Financial of Canada head of marketing Steve Gapper says: “We

still have to prove to Newton that we can do the volume for them. Only then

will we really seek to widen the range of funds to other managers.”

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