C$ unless otherwise stated
TORONTO, Dec. 3, 2013 /CNW/ - Manulife Mutual Funds is committed to sustaining a strong and efficient product offering that continues to serve investors' needs. As such, the company has made a number of strategic changes.
Portfolio Management Appointments
On or about December 20, 2013 there will be a number of portfolio manager and portfolio sub-advisor changes affecting the mutual fund line-up.
As a direct result of these changes, Paul Boyne, Senior Managing Director and Senior Portfolio Manager, Manulife Asset Management (US) LLC, and Doug McGraw, CFA, Managing Director and Portfolio Manager, Manulife Asset Management (US) LLC, will be named co-managers for the following funds:
- Manulife Global Opportunities Fund*
- Manulife Global Opportunities Class
- Manulife Global Opportunities Balanced Fund
- Manulife Global Opportunities Balanced Class*
Mr. Boyne is a senior managing director, senior portfolio manager and the lead portfolio manager of Manulife Asset Management's Global Equity strategy. He is a Fellow of the Association of Chartered Accountants.
Mr. McGraw is a managing director and portfolio manager for Manulife Asset Management (US) LLC. He holds a B.S. in Finance from Miami University and an M.B.A. from the University of Notre Dame. He is a CFA charterholder.
In addition, the portfolio sub-advisor responsibilities for the following funds will change to Manulife Asset Management (Europe) Limited from Manulife Asset Management (US) LLC:
- Manulife Global Natural Resources Fund
- Manulife Emerging Markets Equity Fund
- Manulife Emerging Markets Equity Class*
Manulife Asset Management (Europe) Limited will also act as the portfolio sub-advisor for the equity portion of Manulife Emerging Markets Balanced Fund* and Manulife Asset Management (US) LLC continues to be the portfolio sub-advisor for its fixed income securities.
*Funds will be managed by the new Portfolio Managers on an interim basis until their fund termination on or about February 7, 2014.
Peter Mennie, ASIP, a portfolio manager and Head of Investment Risk Management and Quantitative Analytics, Manulife Asset Management (Europe) Limited, will manage the above funds. One exception will be the Manulife Emerging Markets Balanced Fund for which he will be the portfolio manager for its equity securities and Robert Sanchez-Dahl and Paolo H. Valle, both of Manulife Asset Management (US) LLC, will continue to manage its fixed income securities.
Mr. Mennie is a member of the CFA Society of the U.K. and of the CFA Institute, and holds the ASIP designation, a recognized qualification of the CFA Institute.
Fund Offering Changes
Manulife Mutual Funds will terminate the following nine funds, effective on or about February 7, 2014:
- Manulife Canadian Equity Balanced Fund
- Manulife Emerging Markets Balanced Fund
- Manulife Emerging Markets Equity Class
- Manulife Global Opportunities Balanced Class
- Manulife Global Opportunities Fund
- Manulife Leaders Balanced Growth Class
- Manulife Leaders Balanced Income Class
- Manulife Leaders Opportunities Class
- Manulife Long Term Bond Fund
These funds will be closed to new purchases (buys and switch-ins) at 4 p.m. ET on December 6, 2013. Existing pre-authorized chequing plans (PAC) and switches from existing securities of the Manulife Dollar-Cost Averaging Fund (DCAF), along with existing allocations for RESP incentives, will continue until February 7, 2014.
Affected investors are encouraged to contact their advisor to discuss these fund terminations and their investment options, including how to switch their assets to another Manulife mutual fund by February 6, 2014.
If alternative investment instructions are not received by February 6, 2014, client assets in the terminating funds will be transferred automatically to the applicable Manulife Money Fund or Manulife Short Term Yield Class on February 7, 2014.
A notification letter, containing details of the fund terminations, will be mailed to affected security holders.
About Manulife Mutual Funds
Manulife Mutual Funds, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing assets for Canadian investors, through a diverse portfolio of forward-thinking mutual fund products. Our experienced Portfolio Managers offer access to markets in Canada, the United States and around the world, in a range of investment styles to help meet individual needs. Manulife Mutual Funds is part of Manulife Investments, which offers personal wealth management products and services, such as mutual funds, segregated fund contracts, annuities and guaranteed interest contracts. For more information, please visit manulifemutualfunds.ca.
About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife Financial, providing comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad range of public, private, and alternative asset classes, as well as asset allocation solutions. As at September 30, 2013, assets under management for Manulife Asset Management were C$265 billion (US $258 billion). Additional information about Manulife Asset Management may be found at ManulifeAM.com.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$574.6 billion (US$558.7 billion) as at September 30, 2013. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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 manulife.com.
SOURCE: Manulife Financial Corporation
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