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Manulife Financial launches Manulife Retirement Select Expands Product Line with Addition of Mutual Fund 401(k) Boston – Manulife Financial, a leading provider to 401(k) plans in the U.S. , has expanded its 401(k) product line by introducing Manulife Retirement Select, a 401(k) product with mutual fund investment alternatives. In addition to its group annuity products, Manulife Financial is now able to offer qualified retirement plan products that feature individual mutual fund investments or group annuity contracts to 401(k) plans. “With Manulife Retirement Select, we’re capitalizing on the success we’ve already experienced in the small and mid-sized plan markets by offering a mutual fund product that incorporates the key advantages of our group annuity product – locally based professional expertise combined with a broad investment line-up,” according to Kendall Kay, Chief Strategy Officer, U.S. Group Pensions. “With Manulife Retirement Select we are expanding the range of products we can make available in the $3 million to $20 million market.” Manulife Retirement Select gives clients the best of both bundled and unbundled products. It provides the recordkeeping and automated transaction support normally offered in a bundled product and combines those advantages with customizable plan features and the consulting and compliance support provided by local, independent third party administrators - features normally associated with unbundled solutions. Features include a multi-manager platform of mutual funds that can be customized to meet the unique needs of individual employer plans, professional expertise of locally based ERISA compliance, tailored enrollment and education services, and automated plan administration of many participant services. Well-known retail mutual funds and funds managed by brand name investment management firms from the Manufacturers Investment Trust, a proprietary series of mutual funds, allow Manulife Retirement Select to offer access to well-managed funds from every major asset category. “Plan sponsors will appreciate the ability to select the funds they want with no minimum or maximum number of funds and no requirements to select any particular fund or grouping of funds – that’s the kind of choice they tell us they want,” said Mr. Kay. Using a comprehensive review process, Manulife seeks to identify mutual funds for Manulife Retirement Select that have the potential for solid, long-term performance.2 Manulife Retirement Select makes available investments in a broad range of asset classes and styles through 53 funds managed by top firms in their respective categories, including:
In addition to its strong investment platform, Manulife Retirement Select also provides participants with industry leading participant communications. “From enrollment materials that offer a Risk Quiz and funds color coded according to risk level, to an easy-to-use participant Web site that offers access to online enrollment, account balances, and retirement planning tools, among many other options, Manulife gives participants the tools, education materials, and account updates they need to help them prepare for retirement,” added Mr. Kay. About Manulife The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality life insurance, pension, and individual wealth management products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive risk-adjusted returns and broad diversification across asset classes, investment styles, and asset managers. With its extensive product lines, competitive underwriting, excellent ratings, and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients. Manulife Retirement Select is a comprehensive set of services made available to qualified retirement plans through Manulife Financial Securities LLC, a registered broker/dealer and investment advisor, who arranges for the sale of mutual funds through selected broker/dealers. Group annuity contracts are issued by Manulife USA. Product features and availabi lity may differ by state. In New York, products are issued by The Manufacturers Life Insurance Company of New York (Manulife New York). 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 US$106.5 billion (Cdn$144.3 billion) as at June 30, 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- Media Contact: Wendy W. Smith U.S. Communications (617) 854-4348 |
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