Sun Life of Canada (Philippines) Inc (Sun Life Philippines) has launched the Sun Life Peso Global Tech Funds, a new investment option allowing clients to tap into the growth of the global technology sector.
This offering is now available for inclusion in peso-denominated, investment-linked insurance policies.
The funds come in two forms:
The Growth Fund is focused on building long-term capital through compounded earnings, while the Payout Fund is designed to generate quarterly income potential for policyholders.
Carla Gonzalez-Chong, Sun Life Philippines chief client experience and marketing officer, said that this new product was developed in response to rising client interest in global tech sector opportunities.
“Sun Life always takes its cue from clients when creating new financial solutions, and they have been looking for ways to access the tech sector on a global scale,” she said.
The two funds will function as feeder funds, initially investing in the Invesco Nasdaq-100 Exchange-Traded Fund (ETF), which tracks the NASDAQ-100 Index. The NASDAQ-100 has outperformed the Philippine Stock Exchange Index over the past 10 years, presenting a potentially attractive avenue for investors.
Gonzalez-Chong emphasised that these funds allow clients to grow their investments in global markets while still benefiting from insurance coverage, offering a balance between wealth accumulation and protection.
“It’s a good alternative financial solution where clients can build their wealth while enjoying the benefit of insurance protection,” she said.
Sun Life Philippines has released the fund options as millennials lead in financial resilience across Asia.
Sun Life Asia’s Financial Resilience Index identified millennials as the most financially resilient generation across the region.
The index, based on a survey of 8,000 individuals across eight Asian markets, offers insights into the financial health and attitudes of different age groups.
According to the report, 75% of millennials are optimistic about their financial future, making them the most confident age group in the study. Furthermore, 70% of millennials indicated confidence in their ability to achieve long-term financial goals, higher than older generations.
However, the index also highlighted a challenge: only 42% of millennials reported having financial plans that extend beyond one year. This suggests a gap between their optimistic outlook and their preparedness for future financial challenges.
David Broom, Sun Life Asia’s chief client and distribution officer, emphasised the importance of financial planning alongside optimism.
“It’s wonderful that so many people feel more optimistic about their finances in 2024, and this optimism deserves a plan to make it a reality,” he said, adding that proper planning will help people achieve their financial and personal goals over the long term.
