Sun Life Financial, the Toronto-based investment and financial services group, said its assets under management rose to $469.4 billion at the end of March, up from $464.7 billion at the end of last year, driven by rising markets, net sales and strong business growth in the insurance and wealth management fields.

Between the end of March and the same data a year ago, AuM rose by $34 billion, the large North American business said in a statement.

The firm’s operating net income at group level rose to $472 million, up from $434 million a year ago.