TORONTO, June 30 /CNW/ - Manulife Mutual Funds, a division of Elliott &
Page Limited, announced today that it is making temporary changes to the
Manulife Money Fund and the Manulife Short Term Yield Class (the "Funds") to
respond to low interest rates on money market instruments in Canada and
maintain a positive yield for securityholders.
Effective July 1, 2009, Manulife Mutual Funds is temporarily reducing the
management fees on the Advisor Series of the Funds.
On certain series of the Funds, Manulife Mutual Funds pays dealers a
trailer fee from the management fees collected. Trailer fees have been
temporarily suspended, effective July 1, 2009.
Also effective July 1, 2009, the DSC and Low Load options for the Funds
will be capped to all new purchases, however switches in from other Manulife
Funds will still be permitted.
Manulife Mutual Funds may continue to waive fees as required to ensure
positive returns for investors.
Manulife Mutual Funds may make further changes to the rate of the
management fees and/or trailer fees, including increasing them to their
previous levels or making further reductions as it considers advisable based
on market conditions.
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 fund contracts,
mutual funds, annuities and guaranteed interest 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$405 billion
(US$322 billion) as at March 31, 2009.
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
For further information:
For further information: Media Contact: Tom Nunn, Manulife Financial,
(519) 594-8578, firstname.lastname@example.org