Sun Life Financial, a Canada-based financial services firm, has expanded its wealth management capabilities by establishing its own mutual fund company and a new family of funds in Canada.

The initiative includes bringing the investment capabilities of MFS Investment Management, Sun Life’s US-based asset manager, to Canadian retail investors.

The new fund company will harness the capabilities for investment management and new products across its operations as well as from various global strategic partners in the asset management business.

The new fund line-up will become available in the fall of 2010 through Sun Life Financial advisers, wholesale distribution channel and segregated fund platform for inclusion in group retirement plans. The new line-up will be in addition to the funds already available to Sun Life advisers through ongoing strategic partnership with CI Investments.

Kevin Dougherty, president of Sun Life Financial Canada and president of Sun Life Global Investments, said: "We are expanding our wealth business in Canada by bringing more choices and innovative products to retail investors. Establishing a mutual fund company is an important step in Sun Life’s strategy to grow our wealth management business in Canada."