A Canadian company is thinking about the future of a U.S. money management unit.
Sun Life Financial Inc., Toronto, says it has hired investment bankers to advise it on “strategic alternatives” for MFS Investment Management, Boston.
“Sun Life Financial continually reviews the performance of all of its businesses to deliver and grow shareholder value,” Sun Life says. “The company values MFS as a strategic asset and remains committed to growing the business organically while assessing strategic alternatives.”
Although the company has hired investment bankers to assess MFS, “there is no assurance that a transaction will result,” Sun Life says.
“Management at MFS is working hard to grow MFS, including expanding distribution and research globally, and improving performance and profit margins,” Sun Life says. “MFS is gaining flows on the institutional side both domestically and internationally and has delivered significant margin improvement over the past year.”