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Manulife signs MoU with Fidelity Consumer sophistication prompts new approach Hong Kong – Manulife (International) Limited (Manulife) has signed a Memorandum of Understanding (MoU) with Fidelity Investments Management (H.K.) Ltd (Fidelity). It paves the way for future cooperation between the two companies for Manulife’s Mandatory Provident Fund (MPF) scheme. Manulife’s collaboration with Fidelity marks the company’s speedy response to new levels of consumer sophistication and its commitment towards service excellence. Manulife would like to make use of Fidelity’s investment expertise in its MPF scheme, especially for the sophisticated members. “We have been closely monitoring market developments and demands since the launch of MPF in Hong Kong three years ago,” said Nick Crouch, President and Chief Executive Officer of Manulife Provident Funds Trust Company Limited. “Employers and employees are demanding more as they become better informed. Being the second largest player in the MPF market*, and in line with our reputation for excellent service, we wish to offer more choices for our scheme members in terms of design and investment managers.” Mr. Crouch further commented: “With the addition of Fidelity, we will also bring the expertise of the world’s largest independent fund management organization** to our customers.” Manulife’s agreement with Fidelity represents the company’s first plan to bring in an external fund manager to members of its pension plans offered in Hong Kong. In order to ensure long-term benefits for its MPF scheme members, Manulife will monitor customer needs and when appropriate, design or re-engineer its products to respond to such needs. “We are delighted to enter into this collaboration with Manulife and support its commitment to providing superior choice and investment expertise,” said Mr. Douglas J. Naismith, Managing Director of Fidelity Investments Management (H.K.) Ltd. “Through our future arrangement, we are confident that our expertise can help Manulife’s MPF scheme members to have more opportunities for wealth accumulation.” Manulife’s selection of Fidelity as its first project partner was made after a stringent evaluation process covering extensive qualitative and quantitative criteria. Manulife has developed a process of tracking the performance of funds and their investment managers. At end March 2003, Manulife had pension accounts of more than 470,000 and was managing pension assets in excess of HK$14 billion. About Manulife Manulife offers provident funds services in Hong Kong through its three operating companies: Manulife (International) Limited, Manulife Provident Funds Trust Company Limited and Manulife Asset Management (Hong Kong) Limited. All are members of the Manulife Financial group of companies. Manulife Financial is one of the leading Canadian-based financial services groups 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 (approximately HK$751.5 billion) as at March 31, 2003. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. About Fidelity Fidelity is the world’s largest independent fund management organization** with over 50 years of global investment experience, which they have been bringing to Asia for the last 30 years. As at March 31, 2003, Fidelity managed close to US$850 billion in assets for over 19 million private and institutional investors worldwide. Their management expertise is backed by nearly 500 investment professionals worldwide, who are supported by the most comprehensive research and trading technology available. Fidelity is an affiliation of two independent companies: FMR Corp. in the United States and Fidelity International Limited outside the United States. Fidelity Investments Management (H.K.) Ltd. is a subsidiary of Fidelity International Limited. *According to the Annual MPF Watch Report 2002 published by one of the leading provident fund consultants, Watson Wyatt, the top 10 MPF service providers in Hong Kong account for more than 85 per cent of the market share - with Manulife in second spot. **According to the listing of Global Investor 100 Largest Asset Managers in the Dec/Jan 2003 issue of Global Investor Magazine, Fidelity ranks first in terms of assets managed on behalf of their clients. Investment involves risk. The Offering Document should be read for further details of the scheme. - 30 - For more information, please contact:
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