Addition of Sun Life Granite Index+ Target Date Funds to the Core investment platform
Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans. Sun Life Assurance Company of Canada purchases units of the funds listed below, which are established as segregated funds in accordance with the Insurance Companies Act (Canada).
Sun Life Group Retirement Services (GRS) is pleased to announce the addition of the Sun Life Granite Index+ Target Date Segregated Funds (Granite Index+ Funds). The Funds became available beginning May 1, 2026.
About the Granite Index+ Funds
Sun Life Global Investments’ (SLGI’s) Multi-Asset Solutions (MAS) team manages the Granite Index+ Funds. The MAS team also manages the Sun Life Granite Target Date and Sun Life Granite Multi-Risk Target Date Funds (“Granite flagship funds”) using the same investment process and “open architecture” approach. The open architecture approach provides flexibility to access any asset class, any region, any manager and any investment style.
The Granite Index+ Funds invest primarily in passive equity and fixed income funds, as well as a commodities exchange traded fund (ETF). The “+” component refers to an allocation to alternatives/private market assets, such as private fixed income, commercial mortgages and global direct real estate. SLGI believes that the alternative assets can help to provide higher yields, diversification, and downside protection. The combination of passive strategies and private market access in the Granite Index+ Funds will help plan members achieve broad diversification at a low fee. The Granite Index+ Funds’ glidepath will be the same as the existing Sun Life Granite Target Date Funds.
SLGI will leverage the expertise of the following managers for the Granite Index+ Funds:
- State Street Global Advisors for the passive strategies
- BMO Asset Management for commodities
- SLC Management for private fixed income and commercial mortgages
- BGO for direct real estate
The Granite flagship and Granite Index+ comparison is available below.
Factors |
Granite flagship |
Granite Index+ |
|---|---|---|
Inception |
Q4 2009 |
August 2014 * |
Portfolio construction driver |
Maximize risk-adjusted returns through robust diversification |
Maximize risk-adjusted returns with fee efficiency and simplicity |
Passive/active weights |
35% passive / 65% active |
90% passive / 10% active (including the + components) |
Glidepath |
To retirement (93% in equity for long-dated funds; 41.5% in equity for Retirement fund) |
To retirement (same as Granite flagship)
|
Tactical asset allocation |
Yes, within range |
No |
Note: * SLGI has managed Sun Life Target Date funds for Voluntary Retirement Savings Plan since August 2014. On May 1, 2026, SLGI renamed the Sun Life Target Date funds to Sun Life Granite Index+ Target Date funds and made adjustments to the underlying investments. The Sun Life Target Date funds used the Granite glidepath and were managed passively, but did not include allocations to alternative assets/private markets.
Asset class |
Granite flagship |
Granite Index+ |
Asset class |
Granite flagship |
Granite Index+ |
|---|---|---|---|---|---|
Fixed income |
|
|
Equity |
|
|
Money market |
· |
· |
Canadian equity |
· |
· |
Canadian bonds |
· |
· |
U.S. equity |
· |
· |
U.S. bonds |
· |
· |
International equity |
· |
· |
|
|
|
Emerging markets equity |
· |
· |
|
|
|
Global small-mid cap equity |
· |
|
Specialty fixed income |
|
|
Specialty equity |
|
|
Private fixed income |
· |
· |
Global real estate |
· Direct |
· Direct |
Canadian commercial mortgages |
· |
· |
Global infrastructure |
· Direct |
|
U.S. high yield bonds and |
· |
|
Commodities |
· |
· |
Emerging markets debt |
· |
|
Liquid alternatives |
· |
|
SLGI Webcast
If you have not already registered, SLGI will be hosting a webcast introducing Granite Index+ Target Date Funds, featuring Chhad Aul, Chief Investment Officer, and Farzan Qureshi, Director, Institutional Business Development and Client Relationships. The webinar will take place on Thursday, June 4, 2026, from 2 p.m. to 2:45 p.m. EST. If you haven’t already registered, please register to attend now!
Do you have to take any action?
You don’t need to take any action. You may consider whether the new Granite Index+ funds are suitable for your plan.
The GRS Investment Solutions team, in partnership with your consultant or advisor, can help with a review of target date options available on our platform.
Questions?
Please contact your Sun Life Group Retirement Services representative.