In an effort to develop its wealth management arm, Sun Life Financial Inc., a Toronto-based insurance giant, announced Thursday it is established a proprietary mutual fund company in Canada.

The fund family, which will include a proprietary family of Canadian funds, is an effort to bring the investment capabilities of MFS Investment Management, Sun Life’s Boston-based asset management arm, to Canadian retail investors. MFS had over $195 billion of assets under management as of March 31.

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