Sun Life Asset Management Company, Inc., the mutual funds arm of Sun Life Financial-Philippines, which manages the biggest family of mutual funds in the country today, has sustained a healthy increase in its assets under management and gross sales for the first semester of the year, a press release from the firm said.

SLAMC posted P13.4 billion in AUM as of June 2009, which is up by eight percent from the first quarter level this year.

As of March 2009, AUM was pegged at P12.4 billion, the press release said.

The company also posted P1.7 Billion in gross sales in June 2009, up by some 58 percent from the Q1 level this year.

As of end March 2009, gross sales were at P1.06 Billion, the press release said.

“This is definitely a welcome improvement after experiencing a year of difficulties brought about by the global financial crunch. We have seen an upward trend so far in the first six months of 2009 and we are hoping this will continue until the yearend and beyond,” Sun Life Philippines president & chief executive officer, Rizalina Mantaring, said.

SLAMC maintains its number two position as of May 2009 in terms of AUM with a market share of 21%

“We continue to be aggressive in our product development efforts and we keep our investors always abreast with what's happening so they would be in a position to select the best investment options for them. We conduct investors' forums regularly to serve this purpose.” Mantaring said in the press release.

She also cited the re-launching of the company's Dollar Advantage Fund which is a balanced fund that can invest in stocks and fixed income securities offered locally and offshore.

“As a true global balanced fund, its portfolio will be comprised of fixed income and equity securities from around the world in accordance with the Fund's prospectus as approved by the Securities and Exchange Commission,” Mantaring said in the same press release.

The firm will employ an efficient global asset allocation strategy, ensuring a diversified mix of asset classes to maximize opportunities abroad while attempting to yield more consistent returns, Mantaring said.

The Dollar Advantage Fund is only one of the seven Prosperity Funds offered by Sun Life to the investing public. The other Prosperity Funds include the Bond Fund, the Money Market Fund, Balanced Fund, Phil. Equity Fund, Government Securities (GS) Fund and the Dollar Abundance Fund, the press release said.

SLAMC is a member of the Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individual and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda, the press release added.*

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