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COL Financial to distribute Sun Life mutual funds means BUSINESS

MANILA - COL Financial Group Inc sealed a partnership with Sun Life to expand the former's product offerings.

In a disclosure to the Philippine Stock Exchange, the leading online brokerage said it inked a memorandum of agreement with Sun Life Asset Management Co Inc, subject to COL's acquisition of a mutual fund distributor license from the Securities and Exchange Commission (SEC).

"Under the MOA, COL may, upon instruction of its customers, invest in certain funds of [Sun Life]," the listed firm said.

Last week, COL struck a deal with Bank of the Philippine Islands – Asset Management and Trust Group to make the Ayala-led bank's unit investment trust funds available to the brokerage's customers through its online platform. 

COL is engaged in the business of brokerage and/or dealership of securities, and provides stock brokerage services through the Internet.

At end-September, COL was the number one stockbroker in terms of volume of transactions handled, with a market share of 24 percent.