Manulife Mutual Funds announces plans to terminate three mutual funds
TORONTO, Dec. 14, 2012 /CNW/ - Manulife Mutual Funds, a division of Manulife Asset Management Limited, announced today its intention to terminate Manulife Canadian Fixed Income Fund, Manulife Canadian Growth Fund and Manulife Japan Class (collectively, the "Terminating Funds"). Each of Manulife Canadian Fixed Income Fund and Manulife Canadian Growth Fund will terminate no later than June 13, 2013 and Manulife Japan Class will terminate on or about February 15, 2013; however, Manulife Mutual Funds expects the unitholders of Manulife Canadian Fixed Income Fund and Manulife Growth Fund to waive their right to receive 180 days' prior written notice of termination, permitting each of these funds to terminate on or about February 15, 2013. The Terminating Funds will be capped to new purchases, effective December 21, 2012.
Manulife Canadian Fixed Income Fund and Manulife Canadian Growth Fund serve as underlying funds to certain asset allocation portfolios offered by Manulife Mutual Funds and are not available to retail investors. The decision was made to terminate these funds as they will no longer be used in those asset allocation portfolios. In addition, the termination of the Manulife Japan Class is a result of a regular review of our mutual funds. Through this analysis, we are able to streamline our line-up to ensure that Manulife Mutual Funds offers strong and efficient products that meet the demands of investors and their advisors.
About Manulife Mutual Funds
Manulife Mutual Funds, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing approximately C$19.6 billion as at September 30, 2012 for Canadian investors, through a diverse portfolio of forward-thinking mutual fund products. Our experienced Portfolio Managers offer access to markets in Canada, the United States and around the world, in a range of investment styles to help meet individual needs. Manulife Mutual Funds is part of Manulife Investments, which offers personal wealth management products and services, such as mutual funds, segregated fund contracts, annuities and guaranteed interest contracts. For more information, please visit manulifemutualfunds.ca.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$515 billion (US$523 billion) as at September 30, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
SOURCE: Manulife Financial CorporationFor further information:
Tracy Van Kalsbeek
Public Relations Consultant
Manulife Financial Canadian Division