Correction to returns for MFS Segregated Funds

June 25, 2026

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 fund listed below. They are established as a segregated fund under the Insurance Companies Act (Canada).

You don’t have to take any action as a result of the information outlined below.

We are writing to inform you of a correction of returns resulting from a unit value error for all MFS Investment Management Canada Ltd. (MFS) funds offered on Sun Life’s platform.

On March 31, 2026, State Street (MFS’ Fund Administrator) advised Sun Life that the MFS fund daily unit values would be delayed. As a result of the delay, Sun Life used prior-day (March 30) unit values for all MFS funds.

This one-day unit value delay caused segregated fund rate of return discrepancies versus the underlying MFS funds.

The delay impacted MFS segregated fund returns for the month of March 2026 only.

Morningstar® investment performance reports showed incorrect fund returns between April 15, 2026, and April 24, 2026. All Morningstar performance reporting for MFS funds which were run after April 24, 2026, reflected the correct fund returns for the MFS Funds and returns are displayed correctly now

The list below shows the MFS funds affected by the delayed unit value:

  • MFS LifePlan™ Target Date series of funds
  • MFS Target Risk series of funds
  • MFS Balanced
  • MFS Balanced Growth
  • MFS Balanced Value
  • MFS Blended Research Global Equity
  • MFS Canadian Fixed Income
  • MFS Canadian Core Plus Fixed Income
  • MFS Canadian Equity
  • MFS Canadian Research Equity
  • MFS Canadian Long Term Fixed Income
  • MFS Global Equity
  • MFS Global Fixed Income
  • MFS Global REIT
  • MFS Global Research
  • MFS International Equity
  • MFS Low Volatility Canadian Equity
  • MFS Low Volatility Global Equity

How does this affect you and plan your members?

Revised fund returns are available on the plan sponsor and plan member services website and on Morningstar®.

Some members who transacted in MFS funds on the last day of the month (March 31, 2026), were negatively impacted by the incorrect unit values. To correct this, Sun Life will provide additional units to impacted members in the coming weeks.

Your plan members don’t have to take any action because of this update. The impacted members will receive a message from Sun Life. You can see the message here.

Questions?

Please contact your Sun Life Group Retirement Services representative. *

*In Quebec, registered as a Group annuity plans advisor.