Toronto– Manulife Mutual Funds (a division of Elliott & Page Limited) announced plans today to cap all retail series of Manulife Global Tactical Fund, Manulife Global Real Estate Fund, Manulife Real Return Strategy Fund and Manulife International Large Cap Fund. All Funds will be capped to new purchases, including systematic transfers, effective June 19, 2009. The Funds will be terminated on or about December 11, 2009.
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 Bob Tillmann, Vice President Marketing & Business Development for Elliott & Page Limited. “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 has decided to cap and terminate these four funds to improve overall cost efficiencies” added Mr. Tillmann.
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$405 billion (US$322 billion) as at March 31, 2009.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.