TORONTO, April 5 /CNW/ - Manulife Mutual Funds, a division of Elliott & Page Limited, announced today that the Value Leaders Income Portfolio has been capped to new purchases, including systematic transfers and pre-authorized chequing plans. The Value Leaders Portfolios will also be re-branded to the Manulife Leaders Portfolios, on or about June 5, 2010.
The decision to cap the Value Leaders Income Portfolio to new purchases was largely based on Manulife Mutual Funds' already vast selection of mutual funds that targets investors' income needs, including the Manulife Monthly High Income Fund and the recently launched Manulife Yield Opportunities Fund. The Value Leaders Portfolios became part of Manulife Mutual Funds' product offering following the purchase of AIC's Canadian retail investment fund business in September 2009.
The Value Leaders Portfolios will be re-branded, effective on or about June 5, 2010, as follows:
- Value Leaders Balanced Income Portfolio becomes Manulife Leaders
Balanced Income Portfolio;
- Value Leaders Balanced Growth Portfolio becomes Manulife Leaders
Balanced Growth Portfolio;
- Value Leaders Growth Portfolio becomes Manulife Leaders Opportunities
- Value Leaders Income Portfolio becomes Manulife Leaders Income
"We regularly review our fund line-up to ensure that Manulife Mutual Funds provides a strong and efficient product offering that meets the demands of investors and their advisors," said Jeff Ray, Assistant Vice President, Mutual Fund Products. "With this goal in mind, we decided to cap this portfolio and re-brand the Value Leaders Portfolios to the Manulife Leaders Portfolios. These changes are being implemented with the aim of enhancing our position as a highly-competitive performer in the asset allocation portfolio product marketplace," added Mr. Ray.
Also, Manulife Mutual Funds has announced that, effective January 1, 2011, all Manulife AIC Funds that issue Class T4, T5, T6, T8 and F-T6 units will have a target distribution per annum based on the net asset value per unit of the Fund determined as at December 31 of the prior year.
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 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers customers 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 $440 billion (US$ 420 billion) as at December 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 at www.manulife.com.
SOURCE Manulife Financial Corporation
For further information: For further information: Media contact: Tom Nunn, Manulife Financial, (519) 594-8578, email@example.com