Sun Life Assurance Company of Canada...Sun Life Assurance Company of Canada Clarica Portfolio Segregated Funds

Sun Life Assurance Company of Canada

Clarica Portfolio Segregated Funds

Fund Facts – December 2019

Table of Contents

Clarica SF Cambridge American Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Clarica SF CI Alpine Growth Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Clarica SF CI American Small Companies Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Clarica SF CI Asian and Pacific Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Clarica SF CI Cambridge American Equity Corporate Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Clarica SF CI Canadian Investment Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Clarica SF CI Canadian Small/Mid Cap Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Clarica SF CI Emerging Markets Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Clarica SF CI Global Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Clarica SF CI Global Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Clarica SF CI Global Science & Technology Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Clarica SF CI Harbour Foreign Equity Corporate Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Clarica SF CI Harbour Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

Clarica SF CI Harbour Global Equity Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

Clarica SF CI International Value Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

Clarica SF CI Money Market Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

Clarica SF CI Pacific Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Clarica SF CI Signature Canadian Balanced Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

Clarica SF CI Signature Canadian Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

Clarica SF CI Signature Canadian Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Clarica SF CI Signature Corporate Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Clarica SF CI Signature Diversified Canadian Balanced Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

Clarica SF CI Signature Global Income & Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45

Clarica SF CI Signature Global Resource Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

Clarica SF CI Signature Income & Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Clarica SF CI Signature International Corporate Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Clarica SF CI Signature Premier Canadian Balanced Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53

Clarica SF CI Signature Select Canadian Balanced Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Clarica SF CI Signature Select Canadian Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

Clarica SF CI Signature Short-Term Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59

Clarica SF CI Signature Summit Select Canadian Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61

Clarica SF CI Synergy American Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

Clarica SF CI Synergy Canadian Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65

Clarica SF Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

Clarica SF Portfolio Series Balanced Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69

Clarica SF Portfolio Series Balanced Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

Clarica SF Portfolio Series Conservative Balanced Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73

Clarica SF Portfolio Series Conservative Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75

Clarica SF Portfolio Series Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

Clarica SF Portfolio Series Income Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79

Clarica SF Portfolio Series Maximum Growth Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81

Clarica SF Premier CI Cambridge American Equity Corporate Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83

Clarica SF Premier CI Signature Canadian Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85

Clarica SF Premier CI Signature Short-Term Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87

Average return

Year-by-year returns (%)

This section tells you how the fund did in the past. A person who invested $1,000 in the no-load fund in December 2009 would have $2,389.17 in December 2019. This works out to an average of 9.10% each year. The returns are after the MER has been deducted. The MER of the segregated fund includes insurance fees. The insurance fees and other costs will reduce the returns of the fund. Past returns do not tell you how the fund will do in the future. Your return will vary based on your guarantee option and personal tax situation.

This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value eight years and down in value two years.

How has the fund performed?

How risky is it?

The value of your investment can go down. For details, please refer to the Information Folder and Contract.

LowLow to

moderate ModerateModerateto high High

%

Minimum investment per Contract: No new Contracts

Minimum for additional purchases: No new purchases

Monthly minimum of pre-authorized chequing: No new PACs

Sales charge option Management expense ratio (MER) (Includes taxes) Net asset value per unit Units outstanding

No-load 3.47% $13.50 610,304

DSC 3.45% $13.50 95,405

Date fund created:

Managed by:

Total value on December 31, 2019:

Portfolio turnover rate:CI Investments Inc.

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Cambridge American Equity Fund

As of December 31, 2019

The fund invests in the Sentry U.S. Growth and Income Corporate Class (formerly CI American Equity Corporate Class). The underlying fund invests mostly in U.S. shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsAlphabet Inc 7.92Brookfield Asset Management Inc 7.75JPMorgan Chase & Co 7.11Berkshire Hathaway Inc 5.96MasterCard Inc 5.92Visa Inc 5.90Facebook Inc 4.12Cigna Corp 4.07Brookfield Infrastructure Partners LP 3.90Booking Holdings Inc 3.52Total 56.17

Total number of investments: 38

US Equity 77.45Canadian Equity 8.64Income Trust Units 8.21International Equity 5.10Cash and Equivalents 0.60

% Assets

What does the fund invest in?

Are there any guarantees?

Who is this fund for?

This segregated fund is being offered under an insurance contract. It comes with guarantees that may protect your money if the value goes down. The fees are summarized in the "Ongoing Fund expenses" section. For details, please refer to the Information Folder and Contract.

This fund may be suitable for contractholders if they:• want to invest in U.S. companies with growth potential• are investing for the medium and/or long term.

February 1999 $9,524,705

6.37%

1

How much does it cost?The following tables show the fees and expenses you could pay to invest in or sell the fund. For details, please refer to the Information Folder and Contract.

Sales charges

Ongoing Fund expenses

The MER includes the management fee, operating expenses and insurance fees of the fund. You do not pay the MER directly. It affects you because it reduces the return you get. For details, please refer to the Information Folder and Contract.

Sales charge optionMER

(Annual rate as a % of the fund's value)(Includes taxes)

Annual insurance fee included in MER(annual rate as a % of the market value

of the Units)

No-load 3.47% 0.60%

DSC 3.45% 0.60%

Servicing commissionWe pay an annual servicing commission as long as you own the fund. It is paid out of the management fee. The rate depends on the sales charge option you chose. For details, please refer to the Information Folder and Contract.

Fee What you pay

Early withdrawal fee Up to 2% of the value of units you sell or transfer within 60 days of buying the units. Money from the fee goes to the fund.

Other fees

Sales charge option What you pay How it works

No-load You do not pay a sales charge. We do not pay a commission.

Deferred sales charge (DSC) If you sell within: Rate1 year of buying 5.5 %2 years of buying 5.0 %3 years of buying 4.5 %4 years of buying 4.0 %5 years of buying 3.0 %6 years of buying 2.0 %7 years of buying 1.0 %After 7 years 0.0 %

• The deferred sales charge is a set rate. It is deducted from the amount you withdraw.

• When you invest in the fund, we pay a commission of 5%. Any deferred sales charge you pay goes to us.

• You can redeem up to 10% of your units of a fund each year without a deferred sales charge.

• You can switch to units of other DSC funds under the insurance contract without paying a deferred sales charge.

• For details, please refer to the Information Folder and Contract.

For more informationThis is a summary and may not contain all the information you need. There are details in the contract that may lead to changes in this summary. Please make sure you read the Information Folder and Contract. For more information, please contact:CI Investments Inc. on behalf of Sun Life Assurance Company of Canada15 York Street, 2nd FloorToronto, Ontario, M5J 0A3Phone: 1-800-792-9355Email: [email protected]

For details, please refer to the Information Folder and Contract.

Annual service fee rate DSC: 0.50% No-Load: 1.20%

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Cambridge American Equity Fund


2

Average return



This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value six years and down in value four years.


How risky is it?


LowLow to


%





No-load 3.45% $28.93 179,219

DSC 3.45% $29.05 50,158

Date fund created:

Managed by:


Portfolio turnover rate:Manulife Asset Management Limited,Picton Mahoney Asset Management and QV Investors Inc.

January 1998 $6,642,307

1.22%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Alpine Growth Equity Fund


The fund invests in the CI Canadian Small/Mid Cap Fund. The underlying fund invests mostly in Canadian shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 5.36Parkland Fuel Corp 2.66Element Financial Corp 2.16Boyd Group Income Fund 1.99Industrial Alliance Insrnc Fncl Srvcs Inc 1.91Canadian Western Bank 1.86Cargojet Inc 1.81Superior Plus Corp 1.79CI North American Small/Mid Cap Equity Private Pool 1.67Park Lawn Income Trust 1.61Total 22.82


Canadian Equity 59.95US Equity 21.79Income Trust Units 9.16Cash and Equivalents 5.36International Equity 3.72Other 0.02

% Assets





This fund may be suitable for contractholders if they:• want an investment with long-term capital growth potential• are investing for the medium and/or long term.

3


Sales charges






of the Units)

No-load 3.45% 0.60%

DSC 3.45% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Alpine Growth Equity Fund


4

Average return





How risky is it?


LowLow to


%





No-load 3.15% $18.58 209,715

DSC 3.13% $18.65 92,087

Date fund created:

Managed by:


Portfolio turnover rate:Epoch Investment Partners, Inc.

November 1999 $5,614,132

4.94%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI American Small Companies Fund


The fund invests in the CI American Small Companies Corporate Class. The underlying fund invests mostly in U.S. shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsAxos Financial Inc 3.21Bank Ozk 3.17Western Alliance Bancorporation 3.07LGI Homes Inc 3.01Centene Corp 2.91Charles River Laboratories Intl Inc 2.80Jones Lang LaSalle Inc 2.66XPO Logistics Inc 2.62Liberty Media Corp 2.62Encompass Health Corp 2.40Total 28.47



% Assets





This fund may be suitable for contractholders if they:• want to invest in small and mid-capitalization North American

companies with high growth potential• are investing for the medium and/or long term.

5


Sales charges






of the Units)

No-load 3.15% 0.60%

DSC 3.13% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI American Small Companies Fund


6

Average return



This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value seven years and down in value three years.


How risky is it?


LowLow to


%





No-load 3.92% $9.08 35,809

DSC 3.88% $9.20 13,523

Date fund created:

Managed by:



November 2000 $449,638

3.71%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Asian and Pacific Fund


The fund invests in the Signature Asian Opportunities Fund. The underlying fund invests mostly in shares of firms from Asia and the Pacific Rim.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsAlibaba Group Holding Ltd 7.48Samsung Electronics Co Ltd 4.99CSL Ltd 4.07GDS Holdings Ltd 3.05Sumitomo Mitsui Financial Group Inc 3.02Ping An Insurance Group Co China Ltd 2.74DBS Group Holdings Ltd 2.73ICICI Bank Ltd 2.69Sony Corp 2.38HKBN Ltd 2.37Total 35.52


International Equity 96.30Cash and Equivalents 1.85Income Trust Units 0.97Other 0.88

% Assets





This fund may be suitable for contractholders if they:• want to invest in companies in Asia and the Pacific Rim• are investing for the medium and/or long term.

7


Sales charges






of the Units)

No-load 3.92% 0.60%

DSC 3.88% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Asian and Pacific Fund


8

Average return





How risky is it?


LowLow to


%





No-load 3.93% $6.54 353,672

DSC 3.81% $6.68 182,576

Date fund created:

Managed by:



November 1999 $3,533,394

5.46%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Cambridge American Equity Corporate Class






% Assets






9


Sales charges






of the Units)

No-load 3.93% 0.60%

DSC 3.81% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Cambridge American Equity Corporate Class


10

Average return





How risky is it?


LowLow to


%





No-load 3.09% $31.42 645,418

DSC 3.09% $31.53 227,209

Date fund created:

Managed by:



November 1999 $27,440,735

5.86%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Canadian Investment Fund


The fund invests in the CI Canadian Investment Corporate Class. The underlying fund invests mostly in Canadian shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 7.26Toronto-Dominion Bank 4.98Brookfield Asset Management Inc 4.95Royal Bank of Canada 4.91Bank of Nova Scotia 3.68Thomson Reuters Corp 3.44Humana Inc 3.40Dollarama Inc 3.29Booking Holdings Inc 3.11Autodesk Inc 3.07Total 42.09


Canadian Equity 45.63US Equity 41.98Cash and Equivalents 7.26Income Trust Units 3.85International Equity 1.28

% Assets





This fund may be suitable for contractholders if they:• want a core Canadian equity fund • are investing for the medium and/or long term.

11


Sales charges






of the Units)

No-load 3.09% 0.60%

DSC 3.09% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Canadian Investment Fund


12

Average return





How risky is it?


LowLow to


%





No-load 3.39% $22.73 1,112,466

DSC 3.39% $22.74 160,896

Date fund created:

Managed by:


Portfolio turnover rate:Picton Mahoney Asset Management,Manulife Asset Management Limited and QV Investors Inc.

January 1998 $28,945,221

1.34%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Canadian Small/Mid Cap Fund






% Assets





This fund may be suitable for contractholders if they:• want an investment with long-term capital growth potential,

where the value of the investment may increase over time• are investing for the medium and/or long term.

13


Sales charges






of the Units)

No-load 3.39% 0.60%

DSC 3.39% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Canadian Small/Mid Cap Fund


14

Average return





How risky is it?


LowLow to


%





No-load 4.13% $20.91 124,564

DSC 4.02% $21.27 55,370

Date fund created:

Managed by:



January 1998 $3,782,711

2.55%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Emerging Markets Fund


The fund invests in the Signature Emerging Markets Fund. The underlying fund invests mostly in shares of firms from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsAlibaba Group Holding Ltd 7.21Samsung Electronics Co Ltd 6.35Taiwan Semiconductor Manufacturing Co Ltd 3.83Tencent Holdings Ltd 2.96Ping An Insurance Group Co China Ltd 2.78AIA Group Ltd 2.59Cash and Equivalents 2.40Banco do Brasil SA 2.22Sberbank Rossii OAO 2.16GDS Holdings Ltd 2.11Total 34.61


International Equity 93.11Cash and Equivalents 2.40Canadian Equity 1.58Other 1.40Income Trust Units 0.94US Equity 0.57

% Assets





This fund may be suitable for contractholders if they:• want to invest in emerging markets• are investing for the medium and/or long term.

15


Sales charges






of the Units)

No-load 4.13% 0.60%

DSC 4.02% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Emerging Markets Fund


16

Average return





How risky is it?


LowLow to


%





No-load 2.96% $13.53 190,440

DSC 2.96% $13.57 86,051

Date fund created:

Managed by:



November 1999 $3,744,636

2.45%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Global Bond Fund


The fund invests in the Signature Global Bond Fund. The underlying fund invests mostly in bonds from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsJapan Government 0.10% 20-Dec-2022 6.30United States Treasury 1.75% 15-Nov-2029 4.74Spain Government 0.05 % 31-Oct-2021 4.41United States Treasury 1.75% 15-Jul-2022 4.04Spain Government 0.45% 31-Oct-2022 3.30United States Treasury 1.75% 31-Jul-2021 3.25United States Treasury Note 1.63 % 30-Nov-2026 3.02United Kingdom Government 0.50% 22-Jul-2022 2.98United States Treasury 1.50% 31-Aug-2021 2.96Japan Government 0.30% 20-Jun-2039 2.95Total 37.95


Foreign Bonds 93.66Domestic Bonds 2.58Other 2.01Cash and Equivalents 1.66US Equity 0.09

% Assets





This fund may be suitable for contractholders if they:• want to receive income• are investing for the medium term.

17


Sales charges






of the Units)

No-load 2.96% 0.60%

DSC 2.96% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Global Bond Fund


18

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.41% $21.64 79,525

Date fund created:

Managed by:



April 2003 $1,720,758

18.38%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Global Fund


The fund invests in the Signature Global Equity Corporate Class. The underlying fund invests mostly in shares from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSPDR Gold Trust ETF (GLD) 4.13Cash and Equivalents 3.64Alibaba Group Holding Ltd 3.01Advanced Micro Devices Inc 2.62Microsoft Corp 2.55Sony Corp 2.11Apple Inc 1.87Samsung Electronics Co Ltd 1.74Marathon Petroleum Corp 1.66Amazon.com Inc 1.61Total 24.94


US Equity 47.76International Equity 39.63Canadian Equity 4.84Other 4.13Cash and Equivalents 3.64

% Assets





This fund may be suitable for contractholders if they:• want a core foreign equity fund for their portfolio• are investing for the medium term.

19


Sales charges






of the Units)

No-load/DSC 3.41% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Global Fund


20

Average return



This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value nine years and down in value one year.


How risky is it?


LowLow to


%





No-load 3.52% $27.29 425,523

DSC 3.53% $26.90 72,053

Date fund created:

Managed by:



February 1999 $13,549,401

5.16%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Global Science & Technology Fund


The fund invests in the Signature Global Technology Corporate Class. The underlying fund invests mostly in U.S. shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsApple Inc 8.04Microsoft Corp 6.85Alibaba Group Holding Ltd 5.99Advanced Micro Devices Inc 5.14Alphabet Inc 4.96Lightspeed POS Inc 3.88Taiwan Semiconductor Manufacturing Co Ltd 3.73Visa Inc 3.57MasterCard Inc 3.48Shopify Inc 3.32Total 48.96


US Equity 50.43International Equity 39.46Canadian Equity 7.20Cash and Equivalents 2.91

% Assets





This fund may be suitable for contractholders if they:• want to invest in technology companies• are investing for the medium and/or long term.

21


Sales charges






of the Units)

No-load 3.52% 0.60%

DSC 3.53% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Global Science & Technology Fund


22

Average return





How risky is it?


LowLow to


%





No-load 3.16% $22.60 294,828

DSC 3.16% $22.63 42,326

Date fund created:

Managed by:



January 1998 $7,622,312

5.24%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Harbour Foreign Equity Corporate Class(as of April 2020 Clarica SF CI Global Value Corporate Class) As of December 31, 2019

The fund invests in the Harbour Global Equity Corporate Class. The underlying fund invests mostly in shares of firms from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 3.22Comcast Corp 2.93Astellas Pharma Inc 2.89Willis Towers Watson PLC 2.67GlaxoSmithKline PLC 2.63Zurich Insurance Group AG 2.55Sanofi SA 2.49Chubb Ltd 2.34Heineken NV 2.29Aon PLC 2.29Total 26.30


International Equity 58.80US Equity 36.88Cash and Equivalents 3.22Canadian Equity 1.10

% Assets





This fund may be suitable for contractholders if they:• want a core foreign equity fund for their portfolio• are investing for the medium and/or long term.

23


Sales charges






of the Units)

No-load 3.16% 0.60%

DSC 3.16% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Harbour Foreign Equity Corporate Class(as of April 2020 Clarica SF CI Global Value Corporate Class) As of December 31, 2019

24

Average return





How risky is it?


LowLow to


%





No-load 3.13% $30.36 569,266

DSC 3.13% $30.41 147,257

Date fund created:

Managed by:



January 1998 $21,759,225

4.61%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Harbour Fund(as of April 2020 Clarica SF CI Premier Canadian Investment Fund) As of December 31, 2019

The fund invests in the Harbour Corporate Class. The underlying fund invests mostly in Canadian shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 7.13Toronto-Dominion Bank 4.99Brookfield Asset Management Inc 4.95Royal Bank of Canada 4.90Bank of Nova Scotia 3.69Thomson Reuters Corp 3.47Humana Inc 3.44Dollarama Inc 3.26Booking Holdings Inc 3.12Microsoft Corp 3.07Total 42.02


Canadian Equity 45.60US Equity 42.10Cash and Equivalents 7.13Income Trust Units 3.89International Equity 1.28

% Assets





This fund may be suitable for contractholders if they:• want a core Canadian equity fund• are investing for the medium and/or long term.

25


Sales charges






of the Units)

No-load 3.13% 0.60%

DSC 3.13% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Harbour Fund(as of April 2020 Clarica SF CI Premier Canadian Investment Fund) As of December 31, 2019

26

Average return





How risky is it?


LowLow to


%





No-load 3.53% $22.14 555,287

DSC 3.51% $22.28 125,757

Date fund created:

Managed by:



February 1999 $15,095,198

5.39%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Harbour Global Equity Fund(as of April 2020 Clarica SF CI Global Value Fund) As of December 31, 2019

The fund invests in the Harbour Global Equity Corporate Class. The underlying fund invests mostly in shares of firms from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 3.22Comcast Corp 2.93Astellas Pharma Inc 2.89Willis Towers Watson PLC 2.67GlaxoSmithKline PLC 2.63Zurich Insurance Group AG 2.55Sanofi SA 2.49Chubb Ltd 2.34Heineken NV 2.29Aon PLC 2.29Total 26.30



% Assets





This fund may be suitable for contractholders if they:• want a core foreign equity fund for their portfolio• are investing for the medium and/or long term.

27


Sales charges






of the Units)

No-load 3.53% 0.60%

DSC 3.51% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Harbour Global Equity Fund(as of April 2020 Clarica SF CI Global Value Fund) As of December 31, 2019

28

Average return





How risky is it?


LowLow to


%





No-load 3.17% $14.88 574,475

DSC 3.16% $14.96 166,516

Date fund created:

Managed by:


Portfolio turnover rate:Altrinsic Global Advisors, LLC

January 1998 $11,038,365

5.27%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI International Value Fund


The fund invests in the CI International Value Corporate Class. The underlying fund invests mostly in shares of firms from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 4.33Astellas Pharma Inc 3.20GlaxoSmithKline PLC 3.09Tokio Marine Holdings Inc 2.99Willis Towers Watson PLC 2.95Danone SA 2.82Aon PLC 2.81Zurich Insurance Group AG 2.76Heineken NV 2.75Sanofi SA 2.55Total 30.25



% Assets





This fund may be suitable for contractholders if they:• want a core foreign equity fund• are investing for the medium and/or long term.

29


Sales charges






of the Units)

No-load 3.17% 0.60%

DSC 3.16% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI International Value Fund


30

Average return


This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value four years and down in value six years.


How risky is it?


LowLow to


%





No-load/DSC 1.54% $10.66 501,879

Date fund created:

Managed by:



April 2003 $5,350,452

158.04%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Money Market Fund


The fund invests in the CI Money Market Fund. The underlying fund invests mostly in short-term debt that mature in less than 365 days.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 98.70Canadian Imperial Bank Commrce 2.23 % 08-Dec-2020 1.30Total 100.00


Cash and Equivalents 98.73Domestic Bonds 1.27

% Assets





This fund may be suitable for contractholders if they:• want to earn income • are investing for the short term.

This section tells you how the fund did in the past. A person who invested $1,000 in the no-load fund in December 2009 would have $980.18 in December 2019. This works out to an average of -0.20% each year. The returns are after the MER has been deducted. The MER of the segregated fund includes insurance fees. The insurance fees and other costs will reduce the returns of the fund. Past returns do not tell you how the fund will do in the future. Your return will vary based on your guarantee option and personal tax situation.

31


Sales charges






of the Units)

No-load/DSC 1.54% 0.45%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Money Market Fund


32

Average return





How risky is it?


LowLow to


%





No-load 3.94% $19.89 78,101

DSC 3.85% $20.32 16,042

Date fund created:

Managed by:



January 1998 $1,879,361

2.61%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Pacific Fund


The fund invests in the Signature Asian Opportunities Fund. The underlying fund invests mostly in shares of firms from Asia and the Pacific Rim.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsAlibaba Group Holding Ltd 7.48Samsung Electronics Co Ltd 4.99CSL Ltd 4.07GDS Holdings Ltd 3.05Sumitomo Mitsui Financial Group Inc 3.02Ping An Insurance Group Co China Ltd 2.74DBS Group Holdings Ltd 2.73ICICI Bank Ltd 2.69Sony Corp 2.38HKBN Ltd 2.37Total 35.52


International Equity 96.30Cash and Equivalents 1.85Income Trust Units 0.97Other 0.88

% Assets





This fund may be suitable for contractholders if they:• want to invest in companies in Asia and the Pacific Rim• are investing for the medium and/or long term.

33


Sales charges






of the Units)

No-load 3.94% 0.60%

DSC 3.85% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Pacific Fund


34

Average return





How risky is it?


LowLow to


%





No-load 3.43% $26.47 518,335

DSC 3.45% $26.55 76,317

Date fund created:

Managed by:



February 1999 $15,745,881

4.43%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Canadian Balanced Fund


The fund invests in the Signature Canadian Balanced Fund. The underlying fund invests mostly in Canadian shares and bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsManulife Financial Corp 4.34Cash and Equivalents 4.02SPDR Gold Trust ETF (GLD) 4.00Bank of Nova Scotia 3.30Ontario Province 2.65% 02-Dec-2050 1.83Canada Government 2.25% 01-Jun-2029 1.82Suncor Energy Inc 1.81Ontario Province 2.60% 02-Jun-2025 1.79Quebec Province 2.50% 01-Sep-2026 1.73Quebec Province 3.10% 01-Dec-2051 1.47Total 26.11


Domestic Bonds 36.00Canadian Equity 28.60International Equity 12.64US Equity 12.08Other 5.44Cash and Equivalents 4.02Foreign Bonds 1.22

% Assets





This fund may be suitable for contractholders if they:• want both equity and fixed income securities in a single fund

and prefer to have the portfolio advisor make the asset mix decisions

• are investing for the medium term.

35


Sales charges






of the Units)

No-load 3.43% 0.60%

DSC 3.45% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Canadian Balanced Fund


36

Average return





How risky is it?


LowLow to


%





No-load 2.39% $19.07 641,876

DSC 2.41% $19.20 173,594

Date fund created:

Managed by:



November 1999 $15,572,134

3.95%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Canadian Bond Fund


The fund invests in the Signature Canadian Bond Fund. The underlying fund invests mostly in Canadian bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsOntario Province 2.60% 02-Jun-2025 4.56Ontario Province 2.65% 02-Dec-2050 4.50Quebec Province 2.50% 01-Sep-2026 4.44Canada Government 2.25% 01-Jun-2029 3.66Canada Government 1.50% 01-Sep-2024 3.46Cash and Equivalents 2.99Ontario Province 3.50% 02-Jun-2024 2.67Canada Government 1.50% 01-Aug-2021 2.42Ontario Province 2.90% 02-Jun-2049 2.31Quebec Province 2.75% 01-Sep-2025 2.29Total 33.30


Domestic Bonds 90.82Foreign Bonds 3.48Cash and Equivalents 2.99Other 2.71

% Assets





This fund may be suitable for contractholders if they:• want to receive income• are investing for the short and/or medium term.

37


Sales charges






of the Units)

No-load 2.39% 0.60%

DSC 2.41% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Canadian Bond Fund


38

Average return





How risky is it?


LowLow to


%





No-load 3.53% $30.86 336,250

DSC 3.52% $31.06 76,687

Date fund created:

Managed by:



February 1999 $12,759,172

5.48%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Canadian Fund


The fund invests in the Signature Select Canadian Corporate Class. The underlying fund invests mostly in Canadian shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsManulife Financial Corp 7.41Bank of Nova Scotia 5.78Cash and Equivalents 4.45Suncor Energy Inc 3.44SPDR Gold Trust ETF (GLD) 2.96Total SA 2.40Canadian Pacific Railway Ltd 2.20Sony Corp 2.12Advanced Micro Devices Inc 2.07Agnico Eagle Mines Ltd 1.88Total 34.71


Canadian Equity 50.39International Equity 22.20US Equity 19.24Cash and Equivalents 4.45Other 2.96Income Trust Units 0.76

% Assets





This fund may be suitable for contractholders if they:• want a Canadian equity fund for their portfolio• are investing for the medium and/or long term.

39


Sales charges






of the Units)

No-load 3.53% 0.60%

DSC 3.52% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Canadian Fund


40

Average return





How risky is it?


LowLow to


%





No-load 3.43% $21.12 221,716

DSC 3.33% $21.64 50,811

Date fund created:

Managed by:



February 1999 $5,783,147

8.36%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Corporate Bond Fund


The fund invests in the Signature Corporate Bond Fund. The underlying fund invests mostly in Corporate bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 8.75Dresdner Funding Trust I 8.15 % 30-Jun-2031 1.10Intarcia Therapeutics Inc FRN 15-Apr-2031 0.96GMAC Capital Trust I 0.77Credit Suisse Group AG 7.50% PERP 0.77Citigroup Capital XIII 0.64Bank of America Corp 5.88 % 31-Dec-2049 0.60Inter Pipeline Ltd 6.88 % 26-Mar-2029 0.58Bank of America Corp 6.25 % 31-Dec-2049 0.57Credit Suisse Group AG 6.25% PERP 0.55Total 15.29


Foreign Bonds 45.83Domestic Bonds 37.54Cash and Equivalents 8.75US Equity 3.74Canadian Equity 2.65Other 0.98International Equity 0.51

% Assets





This fund may be suitable for contractholders if they:• want to receive income• are investing for the medium term.

41


Sales charges






of the Units)

No-load 3.43% 0.60%

DSC 3.33% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Corporate Bond Fund


42

Average return





How risky is it?


LowLow to


%





No-load 3.15% $24.95 1,497,270

DSC 3.14% $25.00 144,557

Date fund created:

Managed by:



January 1998 $40,971,042

3.53%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Diversified Canadian Balanced Fund






% Assets








43


Sales charges






of the Units)

No-load 3.15% 0.60%

DSC 3.14% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Diversified Canadian Balanced Fund


44

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.38% $20.11 459,161

Date fund created:

Managed by:



April 2003 $9,233,487

19.46%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Global Income & Growth Fund


The fund invests in the Signature Global Income & Growth Fund. The underlying fund invests mostly in shares and bonds from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSPDR Gold Trust ETF (GLD) 3.84Cash and Equivalents 3.69United States Treasury Note 1.63 % 30-Nov-2026 2.48United States Treasury 2.38% 15-Nov-2049 2.43United States Treasury 1.75% 15-Nov-2029 2.03United States Treasury 1.50% 30-Sep-2021 2.00Alibaba Group Holding Ltd 1.72iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) 1.49United States Treasury 2.50% 28-Feb-2021 1.48Advanced Micro Devices Inc 1.45Total 22.61


Foreign Bonds 35.03US Equity 29.97International Equity 23.10Other 4.63Cash and Equivalents 3.69Canadian Equity 2.76Domestic Bonds 0.82

% Assets





This fund may be suitable for contractholders if they:• want both foreign equity and fixed income securities in a single

fund and prefer to have the portfolio advisor make the asset mix decisions


45


Sales charges






of the Units)

No-load/DSC 3.38% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Global Income & Growth Fund


46

Average return



How risky is it?


LowLow to


%





No-load 3.48% $23.05 294,010

DSC 3.47% $23.29 78,955

Date fund created:

Managed by:



January 1998 $8,615,725

5.75%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Global Resource Fund


The fund invests in the Signature Global Resource Corporate Class. The underlying fund invests mostly in Canadian shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsAgnico Eagle Mines Ltd 6.43SSR Mining Inc 5.73Cash and Equivalents 4.95Suncor Energy Inc 4.58Newmont Mining Corp 4.31WestRock Co 4.12Total SA 3.98Teck Resources Ltd 3.39First Quantum Minerals Ltd 3.31Exxon Mobil Corp 3.19Total 43.99


Canadian Equity 45.69US Equity 38.23International Equity 10.05Cash and Equivalents 4.95Income Trust Units 1.08

% Assets





This fund may be suitable for contractholders if they:• want exposure to the high growth potential of resource stocks• are investing for the medium and/or long term.

This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value four years and down in value six years.

This section tells you how the fund did in the past. A person who invested $1,000 in the no-load fund in December 2009 would have $711.98 in December 2019. This works out to an average of -3.34% each year. The returns are after the MER has been deducted. The MER of the segregated fund includes insurance fees. The insurance fees and other costs will reduce the returns of the fund. Past returns do not tell you how the fund will do in the future. Your return will vary based on your guarantee option and personal tax situation.

47


Sales charges






of the Units)

No-load 3.48% 0.60%

DSC 3.47% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Global Resource Fund


48

Average return





How risky is it?


LowLow to


%





No-load 3.49% $24.51 1,460,705

DSC 3.48% $24.54 190,293

Date fund created:

Managed by:



February 1999 $40,475,573

4.67%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Income & Growth Fund


The fund invests in the Signature Income & Growth Fund. The underlying fund invests mostly in Canadian shares and bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 5.09Manulife Financial Corp 4.26SPDR Gold Trust ETF (GLD) 3.93Bank of Nova Scotia 3.26Suncor Energy Inc 1.90Nestle SA 1.46Total SA 1.41Canadian Pacific Railway Ltd 1.28Sony Corp 1.24Advanced Micro Devices Inc 1.18Total 25.01


Canadian Equity 30.15Domestic Bonds 21.32US Equity 15.16International Equity 13.20Foreign Bonds 9.91Other 5.17Cash and Equivalents 5.09

% Assets





This fund may be suitable for contractholders if they:• want to add an asset allocation fund to their portfolio• are investing for the medium term.

49


Sales charges






of the Units)

No-load 3.49% 0.60%

DSC 3.48% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Income & Growth Fund


50

Average return





How risky is it?


LowLow to


%





No-load 3.91% $10.65 110,175

DSC 3.83% $10.88 31,947

Date fund created:

Managed by:



November 1999 $1,520,989

5.28%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature International Corporate Class


The fund invests in the CI International Value Corporate Class. The underlying fund invests mostly in shares of firms from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 4.33Astellas Pharma Inc 3.20GlaxoSmithKline PLC 3.09Tokio Marine Holdings Inc 2.99Willis Towers Watson PLC 2.95Danone SA 2.82Aon PLC 2.81Zurich Insurance Group AG 2.76Heineken NV 2.75Sanofi SA 2.55Total 30.25



% Assets





This fund may be suitable for contractholders if they:• want to invest in foreign companies• are investing for the medium and/or long term.

51


Sales charges






of the Units)

No-load 3.91% 0.60%

DSC 3.83% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature International Corporate Class


52

Average return





How risky is it?


LowLow to


%





No-load 3.14% $23.53 907,189

DSC 3.14% $23.60 176,478

Date fund created:

Managed by:



January 1998 $25,514,038

96.88%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Premier Canadian Balanced Fund(formerly Clarica SF CI Harbour Growth & Income Fund) As of December 31, 2019





% Assets








53


Sales charges






of the Units)

No-load 3.14% 0.60%

DSC 3.14% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Premier Canadian Balanced Fund(formerly Clarica SF CI Harbour Growth & Income Fund) As of December 31, 2019

54

Average return





How risky is it?


LowLow to


%





No-load 3.54% $29.45 1,053,353

DSC 3.54% $29.75 238,969

Date fund created:

Managed by:



February 1999 $38,129,412

3.29%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Select Canadian Balanced Fund






% Assets








55


Sales charges






of the Units)

No-load 3.54% 0.60%

DSC 3.54% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Select Canadian Balanced Fund


56

Average return





How risky is it?


LowLow to


%





No-load 3.14% $27.70 1,980,871

DSC 3.14% $27.73 356,420

Date fund created:

Managed by:



January 1998 $64,760,474

5.33%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Select Canadian Fund






% Assets






57


Sales charges






of the Units)

No-load 3.14% 0.60%

DSC 3.14% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Select Canadian Fund


58

Average return





How risky is it?


LowLow to


%





No-load 2.35% $13.24 83,398

DSC 2.22% $13.52 25,942

Date fund created:

Managed by:



November 1999 $1,455,408

6.62%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Short-Term Bond Fund


The fund invests in the Signature Short-Term Bond Fund. The underlying fund invests mostly in Canadian short-term bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsQuebec Province 3.50% 01-Dec-2022 5.84Ontario Province 1.35% 08-Mar-2022 5.41Quebec Province 4.25% 01-Dec-2021 4.97Cash and Equivalents 4.42Canada Government 1.50% 01-Sep-2024 2.97VW Credit Canada Inc 3.25% 29-Mar-2023 2.55Canada Government 1.50% 01-Aug-2021 2.54Canada Housing Trust No 1 1.80% 15-Dec-2024 2.50Manulife Bank of Canada 2.84% 12-Jan-2023 2.27Bank of America Corp 2.60 % 15-Mar-2022 2.14Total 35.61


Domestic Bonds 91.39Cash and Equivalents 4.42Other 4.19

% Assets





This fund may be suitable for contractholders if they:• want to receive income• are investing for the short term.

59


Sales charges






of the Units)

No-load 2.35% 0.60%

DSC 2.22% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Short-Term Bond Fund


60

Average return





How risky is it?


LowLow to


%





No-load 3.14% $39.80 660,222

DSC 3.14% $40.09 172,190

Date fund created:

Managed by:



January 1998 $33,176,745

5.69%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Summit Select Canadian Fund






% Assets






61


Sales charges






of the Units)

No-load 3.14% 0.60%

DSC 3.14% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Signature Summit Select Canadian Fund


62

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.38% $25.24 63,103

Date fund created:

Managed by:


Portfolio turnover rate:Picton Mahoney Asset Management

April 2003 $1,592,634

6.95%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Synergy American Fund


The fund invests in the Synergy American Fund. The underlying fund invests mostly in U.S. shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsMicrosoft Corp 4.85Apple Inc 4.62Cash and Equivalents 4.45Zoetis Inc 2.62Amazon.com Inc 2.60JPMorgan Chase & Co 2.58MasterCard Inc 2.58Bank of America Corp 2.56Abbott Laboratories 2.30Alphabet Inc 2.21Total 31.37


US Equity 91.38Cash and Equivalents 4.45International Equity 2.43Income Trust Units 1.04Canadian Equity 0.70

% Assets





This fund may be suitable for contractholders if they:• want to invest in North American equity securities with high

growth potential• are investing for the medium and/or long term.

63


Sales charges






of the Units)

No-load/DSC 3.38% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Synergy American Fund


64

Average return





How risky is it?


LowLow to


%





No-load 3.47% $32.62 723,779

DSC 3.45% $32.60 149,242

Date fund created:

Managed by:


Portfolio turnover rate:Picton Mahoney Asset Management

February 1999 $28,476,131

5.40%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Synergy Canadian Class


The fund invests in the Synergy Canadian Corporate Class. The underlying fund invests mostly in Canadian shares.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCash and Equivalents 6.67Toronto-Dominion Bank 4.05Royal Bank of Canada 4.01Canadian Pacific Railway Ltd 2.79Brookfield Asset Management Inc 2.50Element Financial Corp 1.79Sun Life Financial Inc 1.74Bank of Montreal 1.66Microsoft Corp 1.64TC Energy Corp 1.62Total 28.47


Canadian Equity 44.46US Equity 26.71International Equity 18.96Cash and Equivalents 6.67Income Trust Units 3.20

% Assets





This fund may be suitable for contractholders if they:• want a core Canadian equity fund for their portfolio• are investing for the medium and/or long term.

65


Sales charges






of the Units)

No-load 3.47% 0.60%

DSC 3.45% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF CI Synergy Canadian Class


66

Average return





How risky is it?


LowLow to


%





No-load 3.00% $30.38 41,261

DSC 2.88% $30.93 18,467

Date fund created:

Managed by:


Portfolio turnover rate:Manulife Asset Management Limited,Picton Mahoney Asset Management and QV Investors Inc.

November 2000 $1,824,790

1.36%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Growth Fund






% Assets





This fund may be suitable for contractholders if they:• want an investment with long-term capital growth potential• are investing for the medium and/or long term.

67


Sales charges






of the Units)

No-load 3.00% 0.60%

DSC 2.88% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Growth Fund


68

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.35% $21.42 2,718,162

Date fund created:

Managed by:



September 2003 $58,220,550

10.69%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Balanced Fund


The fund invests in the Portfolio Series Balanced Fund. The underlying fund invests mostly in shares and bonds from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSignature Canadian Bond Fund 13.34Cambridge Canadian Dividend Fund 6.12Synergy Canadian Corporate Class 6.05Signature Emerging Markets Corporate Class 5.13CI First Asset Morningstar Canada Momentum Index ETF (WXM) 5.13Cambridge Canadian Equity Corporate Class 5.12CI American Managers Corporate Class 5.12CI Munro Alternative Global Growth Fund 4.65CI First Asset MSCI Canada Quality Index Class ETF (FQC) 4.44Signature Corporate Bond Fund 3.93Total 59.03


Canadian Equity 23.97International Equity 22.96US Equity 18.86Domestic Bonds 15.87Foreign Bonds 7.94Cash and Equivalents 6.09Other 4.31

% Assets





This fund may be suitable for contractholders if they:• want growth and income while diversifying risk• are investing for the medium term.

69


Sales charges






of the Units)

No-load/DSC 3.35% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Balanced Fund


70

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.37% $22.50 1,137,134

Date fund created:

Managed by:



April 2003 $25,580,866

6.86%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Balanced Growth Fund


The fund invests in the Portfolio Series Balanced Growth Fund. The underlying fund invests mostly in shares and bonds from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSignature Canadian Bond Fund 16.24Cambridge Canadian Equity Corporate Class 9.76Synergy Canadian Corporate Class 6.63Signature Emerging Markets Corporate Class 6.12CI First Asset Morningstar Canada Momentum Index ETF (WXM) 5.60Munro Global Growth Equity Fund 5.18Signature Select Canadian Fund 5.13CI American Managers Corporate Class 5.09CI Canadian Small/Mid Cap Fund 4.65Black Creek International Equity Fund 4.65Total 69.05


Canadian Equity 25.91International Equity 25.55US Equity 21.22Domestic Bonds 16.38Cash and Equivalents 5.01Other 3.65Income Trust Units 2.28

% Assets





This fund may be suitable for contractholders if they:• want moderate long-term capital growth• are investing for the medium term.

71


Sales charges






of the Units)

No-load/DSC 3.37% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Balanced Growth Fund


72

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.38% $21.59 819,613

Date fund created:

Managed by:



April 2003 $17,691,990

12.94%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Conservative Balanced Fund


The fund invests in the Portfolio Series Conservative Balanced Fund. The underlying fund invests mostly in shares and bonds from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSignature Canadian Bond Fund 17.45CI Income Fund 6.91Cambridge Canadian Dividend Fund 6.16Synergy Canadian Corporate Class 5.58CI American Managers Corporate Class 5.11CI First Asset Morningstar Canada Momentum Index ETF (WXM) 4.76Signature Global Bond Fund 4.73Cambridge Canadian Equity Corporate Class 4.67Signature Emerging Markets Corporate Class 4.61Signature Corporate Bond Fund 4.51Total 64.49


Domestic Bonds 22.01Canadian Equity 21.19International Equity 20.16US Equity 14.06Foreign Bonds 11.94Cash and Equivalents 6.22Other 4.42

% Assets





This fund may be suitable for contractholders if they:• want returns with lower than average volatility• are investing for the medium term.

73


Sales charges






of the Units)

No-load/DSC 3.38% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Conservative Balanced Fund


74

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.26% $21.11 931,428

Date fund created:

Managed by:



April 2003 $19,663,642

14.14%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Conservative Fund


The fund invests in the Portfolio Series Conservative Fund. The underlying fund invests mostly in shares and bonds from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSignature Canadian Bond Fund 19.51CI Income Fund 10.67Synergy Canadian Corporate Class 6.91Cambridge Canadian Dividend Fund 6.27Signature Corporate Bond Fund 5.54Signature Global Bond Fund 4.71CI American Managers Corporate Class 4.27CI First Asset MSCI Canada Quality Index Class ETF (FQC) 4.07Cambridge Bond Fund 3.95CI First Asset Morningstar Canada Momentum Index ETF (WXM) 3.80Total 69.70


Domestic Bonds 26.28Canadian Equity 18.34International Equity 16.47Foreign Bonds 14.43US Equity 12.25Cash and Equivalents 8.19Other 4.04

% Assets





This fund may be suitable for contractholders if they:• want income and growth with lower than average volatility• are investing for the medium term.

75


Sales charges






of the Units)

No-load/DSC 3.26% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Conservative Fund


76

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.35% $23.09 503,381

Date fund created:

Managed by:



April 2003 $11,621,844

6.74%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Growth Fund


The fund invests in the Portfolio Series Growth Fund. The underlying fund invests mostly in shares from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCambridge Canadian Equity Corporate Class 11.69Signature Canadian Bond Fund 9.26Munro Global Growth Equity Fund 8.15Synergy Canadian Corporate Class 7.19Signature Emerging Markets Corporate Class 7.16CI First Asset MSCI Canada Quality Index Class ETF (FQC) 6.90CI First Asset Morningstar Canada Momentum Index ETF (WXM) 6.42CI American Managers Corporate Class 5.67Signature Select Canadian Fund 5.67Black Creek International Equity Fund 5.25Total 73.36


Canadian Equity 30.50International Equity 28.37US Equity 23.97Domestic Bonds 8.42Cash and Equivalents 5.48Income Trust Units 2.42Other 0.84

% Assets





This fund may be suitable for contractholders if they:• want long-term capital growth• are investing for the medium and/or long term.

77


Sales charges






of the Units)

No-load/DSC 3.35% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Growth Fund


78

Average return



This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value nine years and down in value one year.


How risky is it?


LowLow to


%





No-load/DSC 2.93% $20.77 1,293,732

Date fund created:

Managed by:



April 2003 $26,867,472

10.02%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Income Fund


The fund invests in the Portfolio Series Income Fund. The underlying fund invests mostly in bonds and shares from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsSignature Canadian Bond Fund 14.91CI Income Fund 13.65CI Global High Dividend Advantage Fund 8.55Signature Corporate Bond Fund 6.53Signature Global Bond Fund 6.21Signature Global Dividend Corporate Class 5.28Cambridge Bond Fund 4.90CI Investment Grade Bond Fund 4.88Signature Dividend Corporate Class 4.86Cambridge Global Dividend Fund 4.75Total 74.52


Domestic Bonds 29.26Foreign Bonds 19.10US Equity 14.26Canadian Equity 12.76International Equity 12.15Cash and Equivalents 8.49Other 3.98

% Assets





This fund may be suitable for contractholders if they:• want income with some potential for capital growth• are investing for the medium term.

79


Sales charges






of the Units)

No-load/DSC 2.93% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Income Fund


80

Average return





How risky is it?


LowLow to


%





No-load/DSC 3.32% $24.45 149,324

Date fund created:

Managed by:



April 2003 $3,650,796

10.73%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Maximum Growth Fund


The fund invests in the Portfolio Series Maximum Growth Fund. The underlying fund invests mostly in shares from around the world.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsCambridge Canadian Equity Corporate Class 13.12Signature Emerging Markets Corporate Class 8.61Munro Global Growth Equity Fund 8.01Black Creek International Equity Fund 7.11CI First Asset Morningstar Canada Momentum Index ETF (WXM) 6.96CI American Managers Corporate Class 6.96Synergy Canadian Corporate Class 6.95CI First Asset MSCI Canada Quality Index Class ETF (FQC) 6.75Signature Select Canadian Fund 5.61CI Canadian Small/Mid Cap Fund 5.04Total 75.12


International Equity 32.27Canadian Equity 32.23US Equity 28.78Cash and Equivalents 3.81Income Trust Units 2.62Other 0.29

% Assets





This fund may be suitable for contractholders if they:• want above-average long-term capital growth• are investing for the medium and/or long term.

81


Sales charges






of the Units)

No-load/DSC 3.32% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Portfolio Series Maximum Growth Fund


82

Average return





How risky is it?


LowLow to


%





No-load 3.43% $10.70 637,517

DSC 3.32% $10.86 134,495

Date fund created:

Managed by:



January 1998 $8,283,000

5.31%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Premier CI Cambridge American Equity Corporate Class






% Assets






83


Sales charges






of the Units)

No-load 3.43% 0.60%

DSC 3.32% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Premier CI Cambridge American Equity Corporate Class


84

Average return





How risky is it?


LowLow to


%





No-load 2.39% $18.40 239,167

DSC 2.28% $18.78 134,996

Date fund created:

Managed by:



January 1998 $6,936,444

3.96%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Premier CI Signature Canadian Bond Fund


The fund invests in the Signature Canadian Bond Fund. The underlying fund invests mostly in Canadian bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsOntario Province 2.60% 02-Jun-2025 4.56Ontario Province 2.65% 02-Dec-2050 4.50Quebec Province 2.50% 01-Sep-2026 4.44Canada Government 2.25% 01-Jun-2029 3.66Canada Government 1.50% 01-Sep-2024 3.46Cash and Equivalents 2.99Ontario Province 3.50% 02-Jun-2024 2.67Canada Government 1.50% 01-Aug-2021 2.42Ontario Province 2.90% 02-Jun-2049 2.31Quebec Province 2.75% 01-Sep-2025 2.29Total 33.30


Domestic Bonds 90.82Foreign Bonds 3.48Cash and Equivalents 2.99Other 2.71

% Assets





This fund may be suitable for contractholders if they:• want to receive income• are investing for the short and/or medium term.

85


Sales charges






of the Units)

No-load 2.39% 0.60%

DSC 2.28% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Premier CI Signature Canadian Bond Fund


86

Average return



This chart shows how the fund has performed in each of the past ten years. In the past ten years, the fund was up in value five years and down in value five years.


How risky is it?


LowLow to


%





No-load 2.76% $13.94 154,890

DSC 2.77% $13.97 55,641

Date fund created:

Managed by:



November 1999 $2,936,150

3.65%

Quick facts:

Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Premier CI Signature Short-Term Bond Fund


The fund invests in the Signature Short-Term Bond Fund. The underlying fund invests mostly in Canadian short-term bonds.

Top holdings and allocations of the underlyingfund as of December 31, 2019 % AssetsQuebec Province 3.50% 01-Dec-2022 5.84Ontario Province 1.35% 08-Mar-2022 5.41Quebec Province 4.25% 01-Dec-2021 4.97Cash and Equivalents 4.42Canada Government 1.50% 01-Sep-2024 2.97VW Credit Canada Inc 3.25% 29-Mar-2023 2.55Canada Government 1.50% 01-Aug-2021 2.54Canada Housing Trust No 1 1.80% 15-Dec-2024 2.50Manulife Bank of Canada 2.84% 12-Jan-2023 2.27Bank of America Corp 2.60 % 15-Mar-2022 2.14Total 35.61


Domestic Bonds 91.39Cash and Equivalents 4.42Other 4.19

% Assets





This fund may be suitable for contractholders if they:• want to receive income• are investing for the short term.

87


Sales charges






of the Units)

No-load 2.76% 0.60%

DSC 2.77% 0.60%


Fee What you pay


Other fees












Sun Life Assurance Company of CanadaClarica Portfolio Segregated FundsClarica SF Premier CI Signature Short-Term Bond Fund


88

Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies, is the sole issuer of the individual variable annuity contract providing for investment in Clarica Portfolio segregated funds. A description of the key features of the applicable individual variable annuity contract is contained in the Information Folder. Any amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. ®CI Investments, the CI Investments design, Synergy Mutual Funds, Harbour Advisors and Harbour Funds are registered trademarks of CI Investments Inc. Portfolio Series, Signature Global Asset Management and Signature Funds are trademarks of CI Investments Inc. Clarica is a registered trademark of Sun Life Assurance Company of Canada. ©CI Investments Inc., 2020

Documents

Sun Life Assurance Company of Canada...Sun Life Assurance Company of Canada Clarica Portfolio Segregated Funds