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MFS, McLean Budden Complete Launch Of Rebranded Subsidiary

Harriet Davies Editor - Family Wealth Report 16 November 2011

MFS, McLean Budden Complete Launch Of Rebranded Subsidiary

McLean Budden and MFS Investment Management have completed the transaction to create a new subsidiary of MFS, called MFS McLean Budden.

The strategy, announced earlier this year, was for parent firm Sun Life Financial to purchase the minority shares in its McLean Budden investment management subsidiary, and then transfer the unit to its MFS business.

Purchase price of those shares, which made up around 32.4 per cent of the business, was around C$144 million ($141 million), plus additional performance target-based payments.

The entity now branded as MFS McLean Budden is based in Toronto, with offices in Montreal and Vancouver, and manages some C$30.4 billion in assets for pension, foundation and endowment, private wealth, and mutual fund clients.

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