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Manulife Mutual Funds to cap four funds Toronto –Manulife Mutual Funds (a division of Elliott & Page Limited) announced plans today to cap the two retail series (Advisor and F series) of MIX International Growth Class, MIX F.I. International Portfolio Class, MIX U.S. Large Cap Core Class and MIX F.I. Growth America Class. All Advisor and F series units will be capped to all new purchases effective July 10, 2006. The Funds will be terminated on October 16, 2006. The decision was made to cap and terminate these funds due to the high costs associated with managing smaller funds. This will allow Manulife Mutual Funds to concentrate resources in other mandates to better serve the interests of investors. “As one of Canada’s leading financial services firms, Manulife provides access to top quality investment funds,” said Doug Conick, Vice President of Investment Products for Manulife Financial. “ Through regular review of our fund line-up, we are able to ensure that Manulife Mutual Funds offers a strong and efficient product offering that meets the demands of investors and their advisors. With these goals in mind, Manulife Mutual Funds decided to cap and terminate the MIX International Growth Class, MIX F.I. International Portfolio Class, MIX U.S. Large Cap Core Class and MIX F.I. Growth America Class.” In addition, Manulife Mutual Funds also announced that effective August 24, 2006, Bissett Investment Management will no longer act as sub-advisor on the MIX Canadian Large Cap Core Class. MFC Global Investment Management will retain sole responsibility for management of the fund. Pat McHugh, who will assume lead manager responsibility, has a proven track record in managing Canadian core assets. This change will provide MIX investors with access to this top performing manager” added Mr. Conick. 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 19 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$386 billion (US$330 billion) as at March 31, 2006. 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- Media contact: Tom Nunn Manulife Financial 519-594-8578 tom_nunn@manulife.com |
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