WATERLOO, ON, Aug. 12 /CNW/ - Manulife Financial has confirmed a new strategic arrangement with Franklin Templeton Investments Corp. Under the terms of this agreement, Franklin Templeton LifeSmart Portfolios - a target date product with risk overlay options - will be made available to Canadian group retirement clients who are interested in adding a target date fund to their retirement programs, beginning September 1, 2010.
"LifeSmart Portfolios are a great addition to Manulife's investment platform, giving plan sponsors a choice between two different target date solutions - one with risk overlay and one without risk overlay." explains Mike Collins, Marketing Vice President of Group Retirement Solutions, Manulife.
LifeSmart Portfolios combine the benefits of target date, target risk and active portfolio management, providing strong performance potential with a simplified investment process for plan sponsors and their plan members.
"Franklin Templeton's reputation as a leading fund manager - with strong capabilities to provide a risk overlay on target date funds - positions the firm as an ideal collaborator with Manulife," said Duane Green, Senior Vice President for Institutional Investment of Franklin Templeton Investments.
The addition of LifeSmart Portfolios to Manulife's investment platform reflects Manulife's continuing commitment to easing plan management for plan sponsors while engaging plan members to plan actively for retirement.
About Franklin Templeton Investments Corp.
Franklin Templeton Investments Corp. is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Bissett, Mutual Series, Fiduciary Trust and Darby investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and more than US$570 billion (C$607 billion) in assets under management as of June 30, 2010.
Franklin Templeton Investments Corp. has more than 600 employees providing services to more than one million unitholder accounts and more than 200 pension funds, foundations and other institutional investors. Additional information on Franklin Templeton Investments Corp. can be found at www.franklintempleton.ca.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients have looked 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 provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were Cdn$454 billion (US$428 billion) as at June 30, 2010.
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 www.manulife.com.
SOURCE Manulife Financial Corporation
For further information: For further information: Media contacts: Tom Nunn, Manulife Financial, 1-877-782-2363, firstname.lastname@example.org; Sarah Kingdon, Franklin Templeton Investments Corp, 416-957-6191, email@example.com