Sun Life unit, Security Bank ink partnership deal

The mutual fund management arm of Sun Life of Canada has teamed up with Security Bank to allow the bank’s account holders to draw down from their accounts to boost mutual fund investments.

In a statement Monday, Sun Life Asset Management Company Inc. (SLAMCI) said it had signed a partnership with Security Bank for SLAMCI’s “auto-invest” program, a regular investment program that allows one to top up his investments in any of the Sun Life Prosperity Funds straight from his bank account.

Security Bank is thus the latest bank to team up with SLAMCI for this program after a similar partnership earlier signed with Banco De Oro (BDO) and Bank of the Philippine Islands (BPI).

Enrollment in this “auto-invest” program is free of charge, while standard sales load fees apply on every scheduled subscription.

“We’re very delighted to have in Security Bank another partner that’s eager to support Filipinos in their financial journey,” SLAMCI president Valerie Pama said. “Our goal is to see every Filipino enjoying prosperity, and developing an investing habit is definitely a path toward that goal.” —DORIS DUMLAO-ABADILLA