TORONTO, March 22, 2013 /CNW/ - Manulife Mutual Funds, a division of Manulife Asset Management Limited, announced today its decision to cap all new purchases, other than contributions made under existing pre-authorized chequing and dollar cost averaging plans, into the following mutual funds effective March 28, 2013: Manulife Canadian Investment Fund/Class, Manulife Canadian Balanced Fund and Manulife Diversified Investment Fund. All series of these funds will be capped including those series used in segregated fund contracts.
The decision to cap each of the funds to new purchases comes as a result of Mawer Investment Management Ltd., the sub-advisor to the funds, having reached their capacity limits for investments into their Canadian equity strategy.
"We recognize that the Canadian equity market is relatively small by global standards and understand the decision by Mawer to cap further contributions to their Canadian equity strategy," said Jeff Ray, Assistant Vice President, Mutual Funds and Structured Products.
"We are pleased to continue to offer our investors access to the successful Mawer investment approach through Manulife Mutual Funds in other asset classes including, Manulife U.S. Equity Fund, Manulife World Investment Class, Manulife Global Equity Class, Manulife Global Small Cap Fund, and Manulife Canadian Bond Fund," added Mr. Ray.
About Manulife Mutual Funds
Manulife Mutual Funds, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing assets for Canadian investors, through a diverse portfolio of forward-thinking mutual fund products. Our experienced Portfolio Managers offer access to markets in Canada, the United States and around the world, in a range of investment styles to help meet individual needs. Manulife Mutual Funds is part of Manulife Investments, which offers personal wealth management products and services, such as mutual funds, segregated fund contracts, annuities and guaranteed interest contracts. For more information, please visit manulifemutualfunds.ca.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$532 billion (US$535 billion) as at December 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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 manulife.com.
SOURCE: Manulife Mutual Funds
For further information:
Media Contacts: Beth McGoldrick, Manulife Mutual Funds, 1-617-663-4751, firstname.lastname@example.org; Brian Carmichael, Manulife Mutual Funds, 1-617-663-4748, email@example.com