New segregated fund contract offers three levels of protection
C$ unless otherwise stated
TORONTO, May 16, 2016 /CNW/ - Manulife Investments today announced the launch of Manulife Ideal Signature Select, the newest addition to its segregated fund platform. The new contract, which incorporates key features of the former Standard Life Ideal Segregated Funds Signature 2.0 product, will be part of Manulife's new and simplified segregated fund product portfolio.
Manulife Ideal Signature Select offers three levels of protection and gives customers the flexibility to choose a protection level appropriate for their needs. The Ideal 75/100 Series is for customers who want to build their savings while protecting their estate; Ideal 100/100 Series is for customers who want full capital and estate protection (provided certain conditions are met); and Ideal 75/75 Series is for customers who want to diversify their portfolio.
"Over the last year, we spoke with advisors and distribution partners to find out what they wanted in a segregated fund product," said Bernard Letendre, President, Manulife Investments. "The number one request was to keep key features of the former Standard Life product, which provides the right amount of flexibility that customers are looking for."
The new Manulife Ideal Signature Select product includes features such as:
- A line-up of funds including equity, fixed income and balanced investment options managed by Manulife Asset Management as well as top third-party asset management partners. The line-up includes the Ideal Global Absolute Return Strategies Fund1 (available only within the Ideal 75/75 Series), which aims to deliver positive absolute returns over the medium to long-term in all market conditions.
- The Payout Benefit Guarantee, available with registered retirement income plans, which guarantees that customers will receive the money invested, or a portion of it depending on the Series selected, as scheduled retirement income payments over the lifetime of the Series (provided certain conditions are met). This guarantee offers protection in down markets.
- Resets, which allow customers to lock-in gains when markets perform well, while guarantees provide some protection when markets perform poorly. Resets are available on Ideal 75/100 and Ideal 100/100 Series.
With the introduction of Manulife Ideal Signature Select, the following products were closed to new contract sales on May 13, 2016: Ideal Segregated Funds Signature 2.0, Ideal Segregated Funds, and GIF Select EstatePlus. Existing contractholders are not affected by these closures and can continue to make deposits into these products.
Manulife Investments' segregated fund product shelf will now include six different products, providing solutions for a variety of customer needs.
For more information, please contact Manulife Customer Service at 1-888-841-6633.
About Manulife Investments
Manulife Investments 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 offers a variety of products and services including mutual funds and segregated fund contracts, annuities and guaranteed interest contracts, as a division of The Manufacturers Life Insurance Company.
The Manufacturers Life Insurance Company is the issuer of the Manulife Ideal Signature Select insurance contract and the guarantor of any guarantee provisions therein.
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. At the end of 2015, we had approximately 34,000 employees, 63,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of March 2016, we had $904 billion (US$697 billion) in assets under management and administration, and in the previous 12 months we made more than $24.9 billion in benefits, interest and other 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. Follow Manulife on Twitter @ManulifeNews or visit www.manulife.com or www.johnhancock.com.
1 The Ideal Global Absolute Return Strategies Fund invests in Canadian dollar hedged Class Z shares of the Standard Life Investments Global SICAV Global Absolute Return Strategies Fund (the "GARS Fund"). The assets of the GARS Fund are managed by Standard Life Investments Limited. Performance of the Standard Life Investments Global SICAV Global Absolute Return Strategies Fund is not guaranteed. This fund is not a substitute for cash or deposits. In order to achieve its investment objective, the Standard Life Investments Global SICAV Global Absolute Return Strategies Fund will make extensive use of derivatives. The value of an investment may rise as well as fall.
SOURCE Manulife Financial Corporation
For further information: Media contact: Bev MacLean, Manulife, 416-852-8501, [email protected], @ManulifeNews