Managed by Manulife's Value Equity Team (led by Alan Wicks) with $15.2B
in Assets Under Management (AUM)
TORONTO, Aug. 17, 2015 /CNW/ - Manulife Investments, a division of
Manulife Asset Management Limited, today announced that, due to
capacity concerns and guided by investors' best interests, it will cap
the Manulife Monthly High Income Fund (MOHI). This Fund, along with the
related Manulife Monthly High Income Class and Manulife Canadian
Balanced Private Pool, will be capped on Friday, August 28, 2015 at
4:00 PM (EST).
"Manulife Investments takes its responsibility to manage its funds with
the highest degree of stewardship very seriously," said Derek Saliba,
Assistant Vice President, Mutual Fund Products. "Slowing the growth of
assets in the funds will maintain the flexibility to continue to invest
assets in line with the management team's disciplined approach."
"Capping the funds allows us to continue investing in the same manner
that we have done for the past 17 years for our clients and partners,"
said Alan Wicks, Senior Managing Director and Senior Portfolio Manager,
Manulife Asset Management Ltd. "Given our unique scalable and repeatable process, the success of the
funds, in terms of both performance and asset accumulation, and the
concentration of the Canadian market, capping will allow us to continue
investing in this manner without having to alter our process. This same
process will continue to be available to investors through other
mandates, managed by the Value Equity team, such as Manulife U.S.
Monthly High Income Fund and Manulife Dividend Income Fund."
Manulife Monthly High Income Fund, Manulife Monthly High Income Class, and Manulife Canadian Balanced
Private Pool will be capped to all new and ongoing purchases,
supplementary deposits and new pre-authorized chequing (PAC) plans.
Switches into these funds will not be accepted. The capping also
applies to segregated fund contracts for which these were underlying
Established in 1996 by Alan Wicks, the Value Equity Team manages over
$15B in AUM across multiple mandates that span the entire globe, and
consists of 10 members including Duncan Anderson, Jonathan Popper and
In its 17 years, the Manulife Monthly High Income Fund has proven to be
among the most stable and durable funds in the Canadian Neutral
Balanced Fund category (overall 5-Star* Morningstar rating). With this
as a standard, Manulife Investments provides industry-leading
investment solutions to investors and advisors including the following
Manulife Strategic Dividend Bundle
Manulife U.S. Monthly High Income Fund
Standard Life Monthly Income Fund/Standard Life Monthly Income Class
Manulife U.S. Balanced Value Private Pool
Manulife Canadian Growth and Income Private Trust
The Morningstar Rating is a quantitative assessment of a fund's past
performance, both return and risk, as measured from one to five stars.
It rewards consistent performance and reduces the possibility of strong
short-term performance masking the inherent risk of a fund. For more
information, see www.morningstar.ca
For more information, please visit manulifemutualfunds.ca or contact Manulife Investments at the following telephone numbers:
*Rate of return as of July 31, 2015 are as follows: Manulife Monthly
High Income Fund: 1 year returns: 11.03%, 3 year return: 12.69%, 5 year
return: 9.85%,10 year rate of return: 6.13%, 15 year return: 10.11% and
8.71% since inception September 30, 1997 The Morningstar Rating,
commonly referred to as the Star Rating, relates how a fund has
performed on a risk-adjusted basis against its Morningstar category
peers and is subject to change every month. Funds are ranked by their
Morningstar Risk-Adjusted Return scores with the top 10 per cent
receiving 5 stars and the top 22.5% receiving 4 stars. The Overall Star
Rating for a fund is a weighted combination of its 3, 5 and 10 year
ratings. The Star Ratings as of July 31, 2015 for the Funds shown and
the number of funds within their categories for each period are:
Manulife Monthly High Income Fund within the Canadian Neutral Balanced
category: 1 year period, 574 funds, 5 stars; 3 year period, 432 funds,
5 stars; 5 year period, 301 funds, 5 stars and 10 year period, 114
funds, 4 stars. © 2015 Morningstar, Inc. All Rights Reserved. The
information contained herein: (1) is proprietary to Morningstar and/or
its content providers; (2) may not be copied or distributed; and (3) is
not warranted to be accurate, complete or timely. Neither Morningstar
nor its content providers are responsible for any damages or losses
arising from any use of this information. Past performance is no
guarantee of future results. Commissions, trailing commissions,
management fees and expenses all may be associated with mutual fund
investments. Please read the prospectus before investing. The indicated
rates of return are the historical annual compounded total returns
including changes in unit value and reinvestment of all distributions
and do not take into account sales, redemption, distribution or
optional charges or income taxes payable by any securityholder that
would have reduced returns. Mutual funds are not guaranteed, their
values change frequently and past performance may not be repeated.
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 Asset Management
Manulife Asset Management is the global asset management arm of
Manulife, providing comprehensive asset management solutions for
investors. This investment expertise extends across a broad range of
public and private asset classes, as well as asset allocation
solutions. As at June 30, 2015, assets under management for Manulife
Asset Management were approximately C$390 billion (US$312 billion).
Manulife Asset Management's public markets units have investment
expertise across a broad range of asset classes including public equity
and fixed income, and asset allocation strategies. Offices with full
investment capabilities are located in the United States, Canada, the
United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia,
Thailand, Vietnam, Malaysia, and the Philippines. In addition, Manulife
Asset Management has a joint venture asset management business in
China, Manulife TEDA. The public markets units of Manulife Asset
Management also provide investment management services to affiliates'
retail clients through product offerings of Manulife and John Hancock.
John Hancock Asset Management and Declaration Management and Research
are units of Manulife Asset Management.
Additional information about Manulife Asset Management may be found at ManulifeAM.com.
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 2014, we had 28,000 employees,
58,000 agents, and thousands of distribution partners, serving 20
million customers. At the end of June 2015, we had $883 billion
(US$708 billion) in assets under management and administration, and in
the previous 12 months we made more than $22 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 www.manulife.com or www.johnhancock.com.
SOURCE Manulife Financial Corporation
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