TSX/NYSE/PSE: MFC; SEHK: 0945
TORONTO, Sept. 24 /CNW/ - Manulife Mutual Funds, a division of Elliott &
Page Limited, has received approval from its Independent Review Committee to
undertake a series of fund mergers, as listed below:
- Manulife U.S. Core Fund into Manulife Mawer U.S. Equity Fund
- Manulife AIM Canadian First Class into Manulife Canadian Equity Class
- Manulife F.I. Canadian Disciplined Equity Class into Manulife
Canadian Equity Class
- Manulife Trimark Global Class into Manulife Global Opportunities
"We are making these changes as part of our ongoing effort to streamline
our family of investment funds. By merging smaller funds with similar
mandates, Manulife Mutual Funds will be in a position to generate greater
operating efficiencies, achieve greater economies of scale and concentrate
resources to better serve the interests of our investors," said Jeff Ray,
Assistant Vice President, Mutual Fund Products.
Although no regulatory approvals are necessary to complete any of the
mergers, the approval of securityholders of Manulife Mawer U.S. Equity Fund,
Manulife Canadian Equity Class and Manulife Global Opportunities Class will be
required. Special meetings will therefore be held on or about December 10,
2008 to approve the mergers involving these three funds.
Subject to receipt of all necessary approvals, the mergers are expected
to be completed on or about Friday, December 12, 2008.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian
subsidiaries and operating divisions of Manulife Financial Corporation that
offer personal wealth management products and services in Canada. As one of
Canada's leading integrated financial services providers, Manulife Investments
offers a variety of products and services including segregated funds, mutual
funds, annuities and guaranteed investment contracts.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide.
Operating as Manulife Financial in Canada and Asia, and primarily through John
Hancock in the United States, the Company offers clients a diverse range of
financial protection products and wealth management services through its
extensive network of employees, agents and distribution partners. Funds under
management by Manulife Financial and its subsidiaries were Cdn$400 billion
(US$393 billion) as at June 30, 2008.
Manulife Financial is one of two publicly traded life insurance companies
in the world whose rated life insurance subsidiaries hold Standard & Poor's
Rating Services' highest "AAA" rating.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK. Manulife Financial can be found on the Internet
For further information:
For further information: Media contact: Tom Nunn, Manulife Financial,
(519) 594-8578, firstname.lastname@example.org