TORONTO, Jan. 27 /CNW/ - Manulife Mutual Funds, a division of Elliott &
Page Limited, announced that it has added a new dollar-cost averaging fund to
its current line-up of mutual funds.
Now available, the Manulife Dollar-Cost Averaging Fund provides investors
with a systematic means of investing in the financial markets over time and
can provide a competitive rate of return equivalent to the interest rate
offered by the Manulife Bank Investment Savings Account. The Fund is ideally
suited for investors looking for opportunities in the markets yet are unsure
when to invest.
Dollar-cost averaging is an investing technique intended to reduce the
exposure to risk associated with making a single lump-sum investment at the
wrong time. An investment is made in the Manulife Dollar-Cost Averaging Fund
and then the money is automatically dollar-cost averaged over a 12-month
period into one or more Manulife mutual funds. Investors have the potential to
benefit as more units can be purchased when prices are low and fewer units are
bought when prices are high.
"Current market conditions make the introduction of a dollar-cost
averaging fund an ideal solution for investors who are unsure about the best
time to invest" said Jeff Ray, Assistant Vice President with Manulife Mutual
Funds. "Studies show that dollar-cost averaging can be a smart way to take
advantage of volatile markets. The Manulife Dollar-Cost Averaging Fund
provides investors with a hands-off approach to gradually transition back into
the markets while enjoying a highly competitive rate of return on monies
allocated for future investment" he added.
The Manulife Dollar-Cost Averaging Fund will initially provide an
investment return of 3.5 per cent (annualized) until March 31, 2009. After
this date, the return is expected to be equivalent to the rate of interest
offered by the Manulife Bank Investment Savings Account.
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 Bank
Manulife Bank is a Schedule I bank, serving Canadians through financial
advisors since 1993. With more than $11.5 billion in high-quality assets, the
Bank has grown to be the eighth largest in Canada.
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$385.3 billion
(US$363.5 billion) as at September 30, 2008.
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, email@example.com