C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, July 10, 2019 /CNW/ - Manulife Investment Management announced today that the Manulife Floating Rate Senior Loan Fund (the "Fund"), a closed-end investment fund, received acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 1,203,287 Class A Units of the Fund, representing 10% of the public float, which is the same number as the Fund's issued and outstanding Class A Units, being 12,032,877 Class A Units as of the close of business on June 27, 2019. The Fund will not purchase in any given 30-day period, in the aggregate, more than 240,657 Class A Units, being 2% of the issued and outstanding Class A Units as of the close of business on June 27, 2019. Purchases of Class A Units under the NCIB may commence on July 12, 2019. Manulife Investment Management Limited, the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's assets. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Class A Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on July 11, 2020.
On July 10, 2018, the Fund announced that it was making a NCIB, which commenced on July 12, 2018, to purchase up to 1,360,377 Class A Units through the facilities of the TSX. The Fund did not repurchase any Class A Units under the bid. The bid will expire on July 11, 2019.
For more information, please contact Manulife customer service at: 1-888-333-3240.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than 150 years of financial stewardship to partner with clients across our institutional, retail, and retirement businesses globally. Our specialist approach to money management includes the highly differentiated strategies of our fixed-income, specialized equity, multi-asset solutions, and private markets teams—along with access to specialized, unaffiliated asset managers from around the world through our multimanager model. Our personalized, data-driven approach to retirement is focused on delivering financial wellness in retirement plans of all sizes to help plan participants and members retire with dignity.
Headquartered in Toronto, we operate as Manulife Investment Management throughout the world, with the exception of the United States, where the retail and retirement businesses operate as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates as Manulife. Manulife Investment Management had $837 billion in assets under management and administration as of March 31, 20191. Not all offerings available in all jurisdictions. For additional information, please visit our website at manulifeinvestmentmgt.com.
1. Source: MFC financials. Global Wealth and Asset Management AUMA at March 31, 2019 was $837 billion and includes $189 billion of assets managed on behalf of other segments and $134 billion of assets under administration.
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2018, we had more than 34,000 employees, over 82,000 agents, and thousands of distribution partners, serving almost 28 million customers. As of March 31, 2019, we had over $1.1 trillion (US$849 billion) in assets under management and administration, and in the previous 12 months we made $29.4 billion in payments to our customers. Our principal operations in Asia, Canada and the United States are where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
SOURCE Manulife Financial Corporation
For further information: Media Contact: Anne-Julie Gratton, Manulife, (438) 401-7346, Anne-Julie_Gratton@Manulife.com