Manulife Investments Announces Results of Special Meetings of Securityholders

C$ unless otherwise stated

TORONTO, Nov. 28, 2016 /CNW/ - Manulife Investments today announced the receipt of required approvals from securityholders to proceed with the following proposed changes voted upon at special meetings of securityholders held last Friday:  

  • Securityholders of 116 funds approved a proposal to replace certain operating expenses of the funds with fixed administration fees. The fixed administration fee proposal with respect to Manulife U.S. All Cap Equity Class (Advisor Series and Series T6), Manulife Global Real Estate Unconstrained Class (Advisor Series), Manulife Canadian Fixed Income Private Trust (Advisor Series, Series T6, Series L and Series LT6), Manulife Global Balanced Private Trust (Advisor Series, Series T6, Series L and Series LT6) and Manulife Diversified Strategies Fund (Advisor Series and Series T6) was withdrawn prior to the meeting and will not be implemented at this time. These series of these funds will continue to bear their own operating expenses.

  • Securityholders approved management fee changes for the following funds in an effort to generally keep future Management Expense Ratios (MERs) equal to or below the most recently reported MERs:
    • Manulife Conservative Income Fund (Series H)
    • Manulife Diversified Income Portfolio (Advisor Series and Series T)
    • Manulife Leaders Balanced Income Portfolio (Advisor Series and Series T)
    • Manulife Leaders Opportunities Portfolio (Advisor Series and Series T)
    • Manulife Money Fund (Series HE)
    • Manulife Short Term Yield Class (Series H)

The management fee change proposal with respect to Manulife Leaders Balanced Income Portfolio (Series H) was withdrawn prior to the meeting and will not be implemented at this time.

  • Securityholders approved a proposal to change the auditor appointment process for the following former Standard Life mutual fund trusts (effective on or before December 31, 2016).
    • Manulife Canadian Dividend Growth Fund (formerly Standard Life Canadian Dividend Growth Fund)
    • Manulife Canadian Dividend Income Fund (formerly Standard Life Dividend Income Fund)
    • Manulife U.S. Dividend Income Fund (formerly Standard Life U.S. Dividend Growth Fund)
    • Manulife Emerging Markets Fund (formerly Standard Life Emerging Markets Fund)
    • Manulife Global Dividend Growth Fund (formerly Standard Life Global Dividend Growth Fund)
    • Manulife Global Equity Unconstrained Fund (formerly Standard Life Global Equity Fund)
    • Manulife Global Real Estate Unconstrained Fund (formerly Standard Life Global Real Estate Fund)
    • Manulife Canadian Monthly Income Fund (formerly Standard Life Monthly Income Fund)
    • Manulife Conservative Income Fund (formerly Standard Life Diversified Income Fund)
    • Manulife Unhedged U.S. Monthly High Income Fund (formerly Standard Life U.S. Monthly Income Fund)
    • Manulife Canadian Corporate Bond Fund (formerly Standard Life Corporate Bond Fund)
    • Manulife Portrait Conservative Portfolio (formerly Standard Life Conservative Portfolio)
    • Manulife Portrait Moderate Portfolio (formerly Standard Life Moderate Portfolio)
    • Manulife Portrait Growth Portfolio (formerly Standard Life Growth Portfolio)
    • Manulife Portrait Dividend Growth & Income Portfolio (formerly Standard Life Dividend Growth & Income Portfolio)
    • Manulife Portrait Aggressive Portfolio (formerly Standard Life Aggressive Portfolio)

The proposal to change the auditor appointment process with respect to the Manulife Tactical Income Fund (formerly Standard Life Tactical Income Fund) was withdrawn prior to the meeting and will not be implemented at this time.

The benefits of the fixed administration fee model include:

  • For a vast majority of the funds, the MER will be substantially equal to or less than its most recently reported MER,
  • Increased certainty and transparency of fund MERs,
  • Protection against an increase in MERs,
  • The Manager will assume the risk of future increases in operating expenses.

More details related to the fixed administration fee and to the management fee changes can be found in the Manulife Mutual Funds and Manulife Private Investment Pools Simplified Prospectus dated August 2, 2016.

For more information, please visit manulifemutualfunds.ca or contact Manulife Investments at the following telephone numbers:

English: 1-888-588-7999
French: 1-877-426-9991                

About Manulife Investments
Manulife Investments, a division of Manulife Asset Management Limited, builds on 125 years of Manulife's wealth and investment management expertise in managing assets for Canadian investors. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.

About Manulife
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. At the end of 2015, we had approximately 34,000 employees, 63,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of September 2016, we had $966 billion (US$736 billion) in assets under management and administration, and in the previous 12 months we made more than $24.4 billion in benefits, interest and other payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. Follow Manulife on Twitter @ManulifeNews or visit manulife.com or johnhancock.com.

SOURCE Manulife Financial Corporation

For further information: Media contact: Bev MacLean, Manulife, 416-852-8501, Beverley_Maclean@manulife.com, @ManulifeNews

RELATED LINKS
http://www.manulife.com

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