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Manulife Mutual Funds terminates Elliott & Page European Equity Fund Change results in a more streamlined product line-up Toronto – Manulife Mutual Funds (a division of Elliott & Page Limited) announced its intention to terminate the Elliott & Page European Fund. The decision was made to close the Fund primarily due to its small volume of assets under management. As of April 30, 2003, the Fund held less than $4-million in assets under management making it necessary to re-evaluate priorities and focus our resources on investments that have proven to be more popular with our customers. “This latest change is part of our ongoing efforts to manage costs and streamline our product offering, while strengthening our position in the marketplace,” said Eric Grove, Vice President of Investment Funds of Manulife Financial. The Fund will close effective December 15, 2003. Prior to this date, investors will have the option of either redeeming or transferring assets, at no cost, into an alternative Manulife Mutual Fund. Assets remaining in the Fund after December 15, 2003, will be transferred automatically into the Elliott & Page Money Fund. A notification letter has been sent to unitholders informing them of this termination. 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 operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$141.6 billion as at March 31, 2003. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. -30- For media inquiries or to arrange an interview, please contact: Rahim Rajpar Marketing Manager (416) 852-7570 rahim_rajpar@manulife.com |
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