TORONTO, Aug. 13 /CNW/ - Manulife Mutual Funds, a division of Elliott &
Page Limited, has received approval from its Independent Review Committee to
undertake a fund merger, as listed below:
- Manulife Global Value Class into Manulife Global Opportunities Class
"We are making this change to eliminate overlap in competing mandates and
help realize economies of scale in the process. The continuing fund, Manulife
Global Opportunities Class, managed by MFC Global Investment Management (U.S.)
LLC, has displayed proven performance since inception in 2007. As one of
Canada's leading financial services firms, we want to ensure that Manulife
Mutual Funds offers a strong and efficient product offering that meets the
demands of investors and their advisors," said Jeff Ray, Assistant Vice
President, Mutual Fund Products.
Although no regulatory approvals are necessary to complete the merger,
the approval of securityholders of Manulife Global Opportunities Class will be
required. A special meeting will therefore be held on or about December 9,
2009 to approve the merger involving these funds.
Subject to receipt of all necessary approvals, the merger is expected to
be completed on or about Friday, December 11, 2009.
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 clients 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$421 billion
(US$362 billion) as at June 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
For further information:
For further information: Media Contact: Tom Nunn, Manulife Financial,
(519) 594-8578, email@example.com