SLIMTC set to exit trust products business

Sun Life Investment Management and Trust Corp. (SLIMTC) will exit the trust products business as it undergoes a “planned and orderly transition,” Sun Life Philippines announced on Wednesday.

According to Sun Life, the decision came after a “review of the company’s businesses and strategy in the Philippines,” with Sun Life Special Adviser to the Country head and CEO Sachi Pang stepping in as SLIMTC president effective Sept. 23 to lead the transition.

This means SLIMTC will halt its offerings of unit investment trust funds and other trust products.

Sun Life officials also confirmed that SLIMTC’s internal assets will be transferred to Sun Life of Canada (Philippines), Inc.

“Sun Life regularly reviews its businesses to ensure they remain aligned with client needs, market conditions, and our long-term strategy,” said Sun Life Country head and CEO JJ Moreno in a statement.

Options

“We believe we can best serve clients in the Philippines by focusing on our insurance and mutual fund businesses, where we have strong capabilities and opportunities to meet the evolving needs of Filipino clients. Throughout this transition, our priority is to protect client interests, maintain service continuity, and provide clear information on the options available to them,” he added.

The firm said affected clients would be contacted directly regarding their available options, key timelines and where they could obtain personalized support and guidance.

Notably, the transition comes after Michael Gerard Enriquez, SLIMTC president and chief investment officer, quietly resigned some time in the second quarter. He had spent nine years as chief investment officer of Sun Life before moving to SLIMTC when the entity was established in 2021.

Enriquez was replaced by Ritchie Ryan Teo as interim president and chief investment officer. Teo had been serving as SLIMTC’s chief investment officer since 2023.

Moreno, for his part, assured the public that Sun Life remains “financially strong.”

The Insurance Commission has yet to publish Sun Life’s financial performance for the first half of 2026, although figures as of end-2025 showed the firm leading life insurers after posting P61.8 billion in premium income.