Semi-Annual Financial Statements - June 30, 2019

SEMI-ANNUAL FINANCIAL STATEMENTS 2021

SUN LIFE OF CANADA FUND A

JUNE 30, 2021

issued by Sun Life Assurance Company of Canada

Table of Contents

Sun Life of Canada Fund A .......................................................................................................... 1 Notes to the Financial Statements ...................................................................................... 7 Legal Notice .............................................................................................................................. 10 CI Investments Inc., the Manager of the Fund, appoints independent auditors to audit the Fund's Annual Financial Statements. Under Canadian securities laws (National Instrument 81-106), if an auditor has not reviewed the Semi-Annual Financial Statements, this must be disclosed in an accompanying notice. The Fund's independent auditors have not performed a review of these Semi-Annual Financial Statements in accordance with standards established by the Chartered Professional Accountants of Canada. To request an alternate format of this document, please contact us at service@ or 1-800-792-9355.

Semi-Annual Financial Statements - June 30, 2021

Sun Life of Canada Fund A

Financial Statements (unaudited)

Statements of Financial Position (in $000's except for per unit amounts)

Assets Current assets Investments* Cash Fees rebate receivable Interest receivable Receivable for investments sold Receivable for unit subscriptions

Liabilities Current liabilities Bank overdraft Payable for investments purchased Payable for unit redemptions Management fees payable Administration fees payable Insurance fees payable

Net assets attributable to contractholders

*Investments at cost

Net assets attributable to contractholders per unit: Class A

as at

as at

Jun. 30, 2021 Dec. 31, 2020

59,070 255 38 -

59,363

51,063 -

605 -

51,668

42 42 59,321

44,835

9 387 396 51,272

45,026

1,293.73

1,088.82

Statements of Comprehensive Income for the periods ended June 30 (in $000's except for per unit amounts and number of units)

Income Net gain (loss) on investments

Income distributions from investments Capital gain distributions from investments Net realized gain (loss) on sale of investments Change in unrealized appreciation (depreciation) in value of investments Other income Interest Fees rebate (Note 6)

Expenses (Note 6) Management fees Administration fees Insurance fees Harmonized sales tax

Increase (decrease) in net assets from operations attributable to contractholders

Increase (decrease) in net assets from operations attributable to contractholders per unit: Class A

Weighted average number of units: Class A

2021

795 519 424

8,198 -

9,936

293 -

56 37 386

9,550

205.20

46,541

2020

382 -

(130)

(5,825) 1 -

(5,572)

234 -

44 30 308

(5,880)

(119.13)

49,358

For inception date of the Fund, please refer to Note 1 in the Notes to the Financial Statements. The accompanying notes are an integral part of these financial statements.

Semi-Annual Financial Statements - June 30, 2021

? 1 ?

CIG - 8885

Sun Life of Canada Fund A

Financial Statements (unaudited)

Statements of Changes in Net Assets Attributable to Contractholders for the periods ended June 30 (in $000's)

Net assets attributable to contractholders at the beginning of period Increase (decrease) in net assets from operations attributable to contractholders Unit transactions

Proceeds from issuance of units Amounts paid on redemption of units

Net assets attributable to contractholders at the end of period

2021

51,272

9,550

66 (1,567) (1,501)

59,321

2020

51,213

(5,880)

70 (1,766) (1,696)

43,637

Statements of Cash Flows for the periods ended June 30 (in $000's)

Cash flows from (used in) operating activities Increase (decrease) in net assets from operations attributable to contractholders

Adjustments for: Net realized (gain) loss on sale of investments Change in unrealized (appreciation) depreciation in value of investments Proceeds from sale of investments Purchase of investments Non-cash distributions from investments (Increase) decrease in fees rebate receivable (Increase) decrease in interest receivable Increase (decrease) in management fees payable Increase (decrease) in administration fees payable Increase (decrease) in insurance fees payable Net cash from (used in) operating activities

Cash flows from (used in) financing activities Proceeds from issuance of units Amounts paid on redemption of units Net cash from (used in) financing activities

Net increase (decrease) in cash Cash (bank overdraft), beginning of period Cash (bank overdraft), end of period

Supplementary Information: Interest received* Interest paid*

2021

2020

9,550

(424)

(8,198) 2,642 (146) (1,314)

2,110

66 (1,912) (1,846)

264 (9)

255

-

(5,880)

130

5,825 2,290 (137) (382)

1,846

70 (1,899) (1,829)

17 192 209

1 -

*Interest received as well as interest paid relate to operating activities of the Fund. The accompanying notes are an integral part of these financial statements.

Semi-Annual Financial Statements - June 30, 2021

? 2 ?

Sun Life of Canada Fund A

Schedule of Investment Portfolio as at June 30, 2021 (unaudited)

Currency

Number of Units/Shares or Par Value

Description

2,077,159 CI Select Canadian Equity Corporate Class (I Shares) Total Investment Portfolio Other Net Assets (Liabilities) Net Assets Attributable to Contractholders

Average Cost ($)

44,835,025 44,835,025

Fair Value ($)

59,069,627 59,069,627

251,110 59,320,737

% of Net Assets

99.58 99.58

0.42 100.00

Top 25 Holdings of the Underlying Fund as at June 30, 2021 (unaudited)

Number of Units/Shares or Par Value

Description

1,919,163 387,163 196,097 13,348 489,660 146,984 232,686 843,832

173,816 361,027 301,134 133,235 387,241 145,330 117,631 560,870

3,041 86,605 71,259 155,600 342,898 70,810 199,352 305,047

Manulife Financial Corp. The Bank of Nova Scotia Royal Bank of Canada Shopify Inc. Canadian Natural Resources Ltd. Canadian Imperial Bank of Commerce Toronto-Dominion Bank CI Global Financial Sector ETF (Common Units) Cash & Cash Equivalents Lightspeed POS Inc. Enbridge Inc. Wheaton Precious Metals Corp. Sony Corp. Power Corporation of Canada Canadian Pacific Railway Ltd. Advanced Micro Devices Inc. Galaxy Digital Holdings Ltd. Inc. Taiwan Semiconductor Manufacturing Co., Ltd., ADR Apple Inc. Sun Life Financial Inc. Teck Resources Ltd., Class B Canadian National Railway Co. Alimentation Couche-Tard Inc., Class B Suncor Energy Inc.

Average Cost ($)

41,977,509 26,637,092 22,386,860 13,184,179 13,337,429 15,523,558 16,039,356 17,307,310

6,304,075 17,160,083 10,474,669 5,192,940 12,256,622 7,102,932 2,587,248 2,495,870 3,882,826 6,744,644 4,042,439 10,032,762 9,479,032 7,036,165 3,904,330 9,862,524

Fair Value ($)

46,827,577 31,213,081 24,627,822 24,198,189 22,034,700 20,740,912 20,213,433 19,830,052 18,830,560 18,033,410 17,917,770 16,453,962 16,078,032 15,172,102 13,852,856 13,696,471 13,034,619 12,968,138 12,899,873 12,098,068 9,945,952 9,789,738 9,261,240 9,080,484 9,056,845

Financial statements for the CI Investments Inc. Underlying Fund(s), including information on the holdings of the Underlying Fund(s), are available in electronic format on the Underlying Fund(s) manager's website at or at , as applicable.

Percentages shown in the Schedule of Investment Portfolio relate investments at fair value to net assets attributable to contractholders of the Fund. The accompanying notes are an integral part of these financial statements.

Semi-Annual Financial Statements - June 30, 2021

? 3 ?

Sun Life of Canada Fund A

Fund Specific Notes to Financial Statements (unaudited)

Interest in Underlying Fund(s) (Note 2)

The following tables present the Fund's interest in the Underlying Fund(s). as at June 30, 2021

Underlying Fund(s) CI Select Canadian Equity Corporate Class

as at December 31, 2020

Underlying Fund(s) Signature Select Canadian Corporate Class

Unit Transactions (Note 5) for the periods ended June 30

Fair Value of the Underlying Fund(s)

(in $000's)

816,082

Fair Value of the Fund's Investment in the Underlying Fund(s) (in $000's)

59,070

Fair Value of the Underlying Fund(s)

(in $000's)

743,397

Fair Value of the Fund's Investment in the Underlying Fund(s) (in $000's)

51,063

Number of units at the beginning of period Units issued for cash Units redeemed Number of units at the end of period

Ownership in the Underlying Fund(s)

(%) 7.2

Ownership in the Underlying Fund(s)

(%) 6.9

2021 47,090

54 (1,292) 45,852

Class A 2020

50,520 76

(1,965) 48,631

For inception date of the Fund, please refer to Note 1 in the Notes to the Financial Statements. The accompanying notes are an integral part of these financial statements.

Semi-Annual Financial Statements - June 30, 2021

? 4 ?

Sun Life of Canada Fund A

Financial Information (for the period ended June 30, 2021 and years ended December 31) (unaudited)

Financial Highlights

The following table shows selected key financial information about the Fund and is intended to help you understand the Fund's financial performance for the past six periods.

The Fund's Net Asset Value per Unit

Net assets attributable to contractholders per unit at the end of the period shown ($)(1)

Ratios and Supplemental Data

Net assets ($000's)(1)

Management expense

Number of units Portfolio turnover rate

outstanding(1)

(%) (2)

ratio before taxes (%)(3)

Management Expense Ratio

Harmonized sales Management expense Effective HST rate for

tax (%)(3) ratio after taxes (%)(3)

the period (%)(3)

Class A Jun. 30, 2021 Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017 Dec. 31, 2016

1,293.73

59,321

45,852

2.60

1.25

0.13

1.38

10.69

1,088.82

51,272

47,090

2.43

1.25

0.13

1.38

10.72

1,013.72

51,213

50,520

5.72

1.25

0.13

1.38

10.72

840.04

46,705

55,599

5.68

1.25

0.13

1.38

10.78

972.33

59,519

61,212

104.69

1.25

0.14

1.39

10.81

835.78

57,456

68,745

5.17

1.25

0.14

1.39

10.81

(1) This information is provided for the period ended June 30, 2021 and December 31 of the years shown. (2) The Fund's portfolio turnover rate indicates how actively the Fund's portfolio advisor manages its portfolio investments. A portfolio turnover rate of 100% is equivalent to the Fund buying and selling all of the securities in its portfolio once in the course of the period. The higher a fund's portfolio turnover rate in a period, the greater the trading costs payable by the fund in the period, and the greater the chance of a contractholder receiving taxable capital gains in the period. There is not necessarily a relationship between a high turnover rate and the performance of a fund. (3) Management expense ratio is calculated based on expenses charged directly to the Fund plus, if applicable, expenses of the underlying fund(s), calculated on a weighted average basis on the percentage weighting of the underlying fund(s) and is expressed as an annualized percentage of average net assets for the periods shown. The Effective HST tax rate is calculated using the attribution percentage for each province based on contractholders' residency and can be different from 13%.

For inception date of the Fund, please refer to Note 1 in the Notes to the Financial Statements. The accompanying notes are an integral part of these financial statements.

Semi-Annual Financial Statements - June 30, 2021

? 5 ?

Sun Life of Canada Fund A

Fund Specific Notes to Financial Statements (unaudited)

Financial Instruments Risk of the Underlying Fund(s)

The Fund is indirectly exposed to credit risk, liquidity risk, other price risk, currency risk and interest rate risk through its holdings in the Underlying Fund(s), to the extent the Underlying Fund(s) is (are) exposed to these risks. Please refer to Note 8 for an explanation of the management of the financial risks. The detailed risk analyses of the Underlying Fund(s) are disclosed in the financial statements of the Underlying Fund(s).

The accompanying notes are an integral part of these financial statements.

Semi-Annual Financial Statements - June 30, 2021

? 6 ?

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download