TSX/NYSE/PSE: MFC SEHK:945
TORONTO, Sept. 13, 2018 /CNW/ - Manulife Investments announced today that the Manulife U.S. Regional Bank Trust (the "Fund"), a closed-end investment fund, received acceptance by the Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to renew its existing Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, the Fund proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 481,356 Class A Units of the Fund, representing 10% of the public float, which is the same number as the Fund's issued and outstanding Class A Units, being 4,813,568 Class A Units as of the close of business on September 4, 2018. The Fund will not purchase in any given 30-day period, in the aggregate, more than 96,271 Class A Units, being 2% of the issued and outstanding Class A Units as of the close of business on September 4, 2018. Purchases of Class A Units under the NCIB may commence on September 17, 2018. Manulife Asset Management Limited, the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's assets. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Class A Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on September 16, 2019.
On September 13, 2017, the Fund announced that it was making an NCIB, which commenced on September 15, 2017, to purchase up to 623,337 Class A Units through the facilities of the TSX. The Fund did not repurchase any Class A Units under the bid, which is set to expire on September 14, 2018.
For more information, please contact Manulife customer service at: 1-888-333-3240.
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 and its affiliates offer a variety of products and services including exchange traded funds, 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 Financial Corporation ("Manulife"). We provide comprehensive asset management solutions for investors across a broad range of public and private asset classes, as well as asset allocation solutions. We also provide portfolio management for affiliated retail Manulife and John Hancock product offerings.
Our investment expertise includes public and private equity and fixed income, real estate and infrastructure equity and debt, timberland and farmland, oil and gas, and mezzanine debt. We operate in the United States, Canada, Brazil, the United Kingdom, New Zealand, Australia, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia, the Philippines, as well as through a China joint venture, Manulife TEDA. We also serve investors in select European, Middle Eastern, and Latin American markets.
As at June 30, 2018, assets under management for Manulife Asset Management were approximately C$516 billion (US$392 billion, GBP£297 billion, EUR€336 billion). Additional information may be found at ManulifeAM.com.
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2017, we had about 35,000 employees, 73,000 agents, and thousands of distribution partners, serving more than 26 million customers. As of June 30, 2018, we had over $1.1 trillion (US$849 billion) in assets under management and administration, and in the previous 12 months we made $27.6 billion in 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.
SOURCE Manulife Financial Corporation
For further information: Media contact: Anne-Julie Gratton, Manulife, 514-499-7999, [email protected], @ManulifeNews; For Closed-end fund inquiries: 1-888-333-3240 Monday - Friday 8am to 8pm EST, [email protected]