C$ unless otherwise stated
TORONTO, April 26, 2018 /CNW/ - Manulife Investments (the "Manager") today announced that it will terminate Oil Sands Sector Fund (the "Fund") (TSX: OSF.UN) on or about June 29, 2018 (the "Termination Date").
Unitholders will not be required to take any action in connection with the termination of the Fund. In connection with the termination, please note the following:
- The Manager will request that the units of the Fund be de-listed from the Toronto Stock Exchange at the close of business on June 29, 2018.
- The Manager will distribute the assets of the Fund for an amount equal to the pro-rata share of the net assets of the Fund remaining after the payment or accrual of all debts, expenses and liabilities and liquidation expenses of the Fund.
- The Fund will not pay its regular quarterly distribution (pertaining to the quarter ending June 29, 2018) nor any final distribution related to the termination of this fund.
- Payment of the termination proceeds will be made on or about July 6, 2018 to the beneficial holders of such units through CDS Clearing and Depository Services Inc.
About Manulife Investments
Manulife Investments, a division of Manulife Asset Management Limited, builds on 125 years of Manulife's wealth and investment management expertise in managing assets for Canadian investors. As one of Canada's leading integrated financial services providers, Manulife Investments and its affiliates offer a variety of products and services including exchange traded funds, segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.
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 2017, we had about 35,000 employees, 73,000 agents, and thousands of distribution partners, serving more than 26 million customers. As of December 31, 2017, we had over $1.04 trillion (US$829.4 billion) in assets under management and administration, and in the previous 12 months we made $26.7 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States 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: Bev MacLean, Manulife, 416-852-8501, Beverley_Maclean@manulife.com, @ManulifeNews; For Closed-end fund inquiries: 1-888-333-3240, Monday - Friday 8am to 8pm EST