Managed by Manulife's Value Equity Team (led by Alan Wicks) with $15.2B in Assets Under Management (AUM)
TORONTO, Aug. 17, 2015 /CNW/ - Manulife Investments, a division of Manulife Asset Management Limited, today announced that, due to capacity concerns and guided by investors' best interests, it will cap the Manulife Monthly High Income Fund (MOHI). This Fund, along with the related Manulife Monthly High Income Class and Manulife Canadian Balanced Private Pool, will be capped on Friday, August 28, 2015 at 4:00 PM (EST).
"Manulife Investments takes its responsibility to manage its funds with the highest degree of stewardship very seriously," said Derek Saliba, Assistant Vice President, Mutual Fund Products. "Slowing the growth of assets in the funds will maintain the flexibility to continue to invest assets in line with the management team's disciplined approach."
"Capping the funds allows us to continue investing in the same manner that we have done for the past 17 years for our clients and partners," said Alan Wicks, Senior Managing Director and Senior Portfolio Manager, Manulife Asset Management Ltd. "Given our unique scalable and repeatable process, the success of the funds, in terms of both performance and asset accumulation, and the concentration of the Canadian market, capping will allow us to continue investing in this manner without having to alter our process. This same process will continue to be available to investors through other mandates, managed by the Value Equity team, such as Manulife U.S. Monthly High Income Fund and Manulife Dividend Income Fund."
Manulife Monthly High Income Fund, Manulife Monthly High Income Class, and Manulife Canadian Balanced Private Pool will be capped to all new and ongoing purchases, supplementary deposits and new pre-authorized chequing (PAC) plans. Switches into these funds will not be accepted. The capping also applies to segregated fund contracts for which these were underlying funds.
Established in 1996 by Alan Wicks, the Value Equity Team manages over $15B in AUM across multiple mandates that span the entire globe, and consists of 10 members including Duncan Anderson, Jonathan Popper and Conrad Dabiet.
In its 17 years, the Manulife Monthly High Income Fund has proven to be among the most stable and durable funds in the Canadian Neutral Balanced Fund category (overall 5-Star* Morningstar rating). With this as a standard, Manulife Investments provides industry-leading investment solutions to investors and advisors including the following investment alternatives:
- Manulife Strategic Dividend Bundle
- Manulife U.S. Monthly High Income Fund
- Standard Life Monthly Income Fund/Standard Life Monthly Income Class
- Manulife U.S. Balanced Value Private Pool
- Manulife Canadian Growth and Income Private Trust
The Morningstar Rating is a quantitative assessment of a fund's past performance, both return and risk, as measured from one to five stars. It rewards consistent performance and reduces the possibility of strong short-term performance masking the inherent risk of a fund. For more information, see www.morningstar.ca
For more information, please visit manulifemutualfunds.ca or contact Manulife Investments at the following telephone numbers:
*Rate of return as of July 31, 2015 are as follows: Manulife Monthly High Income Fund: 1 year returns: 11.03%, 3 year return: 12.69%, 5 year return: 9.85%,10 year rate of return: 6.13%, 15 year return: 10.11% and 8.71% since inception September 30, 1997 The Morningstar Rating, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10 per cent receiving 5 stars and the top 22.5% receiving 4 stars. The Overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. The Star Ratings as of July 31, 2015 for the Funds shown and the number of funds within their categories for each period are: Manulife Monthly High Income Fund within the Canadian Neutral Balanced category: 1 year period, 574 funds, 5 stars; 3 year period, 432 funds, 5 stars; 5 year period, 301 funds, 5 stars and 10 year period, 114 funds, 4 stars. © 2015 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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 offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.
About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife, providing comprehensive asset management solutions for investors. This investment expertise extends across a broad range of public and private asset classes, as well as asset allocation solutions. As at June 30, 2015, assets under management for Manulife Asset Management were approximately C$390 billion (US$312 billion).
Manulife Asset Management's public markets units have investment expertise across a broad range of asset classes including public equity and fixed income, and asset allocation strategies. Offices with full investment capabilities are located in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines. In addition, Manulife Asset Management has a joint venture asset management business in China, Manulife TEDA. The public markets units of Manulife Asset Management also provide investment management services to affiliates' retail clients through product offerings of Manulife and John Hancock. John Hancock Asset Management and Declaration Management and Research are units of Manulife Asset Management.
Additional information about Manulife Asset Management may be found at ManulifeAM.com.
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 2014, we had 28,000 employees, 58,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of June 2015, we had $883 billion (US$708 billion) in assets under management and administration, and in the previous 12 months we made more than $22 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.
SOURCE Manulife Financial Corporation
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