2009 News Releases

Toronto - Following the purchase of AIC’s Canadian retail investment fund business last month, Manulife Mutual Funds, a division of Elliott & Page Limited, announced that it will be terminating four mutual funds and re-assigning portfolio management responsibilities of select AIC funds to MFC Global Investment Management.

As a result of the shift to MFC Global, some funds have experienced investment strategy changes effective October 13, 2009, while others will experience changes effective October 19, 2009. In addition, Manulife Mutual Funds also announced fee reductions effective November 2, 2009, on two of its money market funds in response to low interest rates on money market instruments in Canada and to maintain a positive yield for securityholders.

The acquisition of AIC funds in September created significant scale and presence for Manulife in the Canadian retail investment fund market. Overall retail fund assets under management for Canadians grew 38 per cent to approximately $13.9 billion, based on latest industry figures.

Fund Terminations
“We are closing four funds to both streamline our product offering and to reduce the costs associated with managing smaller funds,” said Jeff Ray, Assistant Vice President, Mutual Fund Products. “This will allow Manulife Mutual Funds to concentrate resources in other mandates that will better serve the interests of our investors,” added Mr. Ray.

Manulife will terminate the following four Manulife AIC Funds on or about December 18, 2009.

• Value Leaders Maximum Growth Portfolio
• AIC American Advantage Corporate Class
• AIC Global Advantage Corporate Class
• AIC Global Premium Dividend Income Corporate Class

Prior to the termination date, securityholders of the terminating funds will receive a notice outlining their options to redeem their investments or to switch to another fund within the Manulife AIC Fund family.

Investment Strategy Changes
“While fund objectives will remain unchanged, some investment strategy changes will be implemented to more closely reflect the investment approach utilized by the MFC Global Investment Management portfolio team,” said Mr. Ray.

The following funds will undergo investment strategy changes on the dates indicated: 

• AIC Canadian Equity Fund (October 13, 2009)
• AIC Money Market Fund/AIC Money Market Corporate Class (October 13, 2009)
• AIC U.S. Money Market Fund (October 13, 2009)
• AIC Bond Fund (October 13, 2009)
• AIC Global Balanced Fund (October 19, 2009)
• AIC Global Bond Fund (October 19, 2009)
• AIC Global Premium Dividend Income Fund/AIC Global Premium Dividend Income Corporate Class (October 19, 2009)
• AIC Total Yield Corporate Class (October 19, 2009)
• Copernican International Dividend Income Fund (October 19, 2009)

Money Market Fee Reductions
Effective November 2, 2009, the following money market fee reductions will take place. The front-end trailing commission will also be reduced by the same amount on a temporary basis.

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$421 billion (US$362 billion) as at June 30, 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.                                                   

Media contact:
Tom Nunn
Manulife Financial
519-594-8578
tom_nunn@manulife.com