Report
Brett Horn, CFA
EUR 101.80 For Business Accounts Only

We continue to be impressed by Sun Life's transformation into a safer company.

Nothing in no-moat Sun Life Financial's fourth-quarter or full-year results materially alters our long-term view of the company. Sun Life's fourth-quarter reported return on equity dipped to 4.1%, but this was largely an anticipated byproduct of U.S. tax reform, a market-related impact from interest rate changes, and a restructuring charge of CAD 44 million. Underlying ROE for the year (and the fourth quarter) rose 50 basis points to 12.7%, with underlying net income for the year rising 9%; both...
Underlying
Sun Life Financial Inc.

Sun Life Financial is a holding company. Through its subsidiaries, Co. is an international financial services organization providing a range of protection and wealth accumulation products and services to individuals and corporate customers in Canada, the U.S., the U.K., Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam and Bermuda. Co. manages its operations in four business segments: Sun Life Financial Canada, Sun Life Financial United States, MFS Investment Management and Sun Life Financial Asia.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Brett Horn, CFA

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