TORONTO, Dec. 21 /CNW/ - Manulife Mutual Funds announced today that it has streamlined its mutual fund offering by discontinuing the following four funds effective December 18, 2009 (the "Termination Date"):
- Value Leaders Maximum Growth Portfolio
- AIC American Advantage Corporate Class
- AIC Global Advantage Corporate Class
- AIC Global Premium Dividend Income Corporate Class
(collectively, the "Terminating Funds")
"The termination of these four funds will allow Manulife Mutual Funds to concentrate resources in other mandates that will better serve the interests of our investors," said Jeff Ray, Assistant Vice President, Mutual Fund Products. "The decision to terminate the four funds was based on streamlining the product offering and reducing costs associated with managing smaller funds," added Mr. Ray.
Prior to the Termination Date, shareholders of the Terminating Funds received a notice outlining their options to redeem their investments or to switch to another fund within the Manulife AIC Fund family. Manulife Mutual Funds continues to provide investors with access to a fully diversified family of mutual funds that cover a range of financial needs.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated funds, mutual funds, annuities and guaranteed investment contracts.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers customers a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$437 billion (US$407 billion) as at September 30, 2009.
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 contact: Tom Nunn, Manulife Financial, (519) 594-8578, firstname.lastname@example.org