Press release from CNW Group
Manulife Strategic Income Opportunities Fund (TSX: MSO.UN) announces tax-advantaged distributions to cease after June distribution
Thursday, April 04, 2013
Manulife Strategic Income Opportunities Fund (TSX: MSO.UN) announces tax-advantaged distributions to cease after June distribution09:40 EDT Thursday, April 04, 2013
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK:945
TORONTO, April 4, 2013 /CNW/ - On March 21, 2013, the Government of Canada announced proposed measures which would affect certain tax benefits gained by taxable unitholders of investment funds, such as Manulife Strategic Income Opportunities Fund (the "Fund"), that utilize forward purchase and sale agreements to obtain exposure to an underlying reference portfolio. The Fund's forward agreement currently allows unitholders to receive tax-advantaged distributions. Based on its review to date, Manulife Asset Management Limited, the manager of the Fund, has concluded that the tax-advantaged character of distributions received by unitholders will cease on the expiration of the Fund's forward agreement following the Fund's distribution for the month of June 2013, which will be made payable to unitholders of record on June 26, 2013 and prior to the Fund's conversion into an open-ended mutual fund on June 28, 2013.
A press release regarding Manulife open-end mutual funds will follow in the days ahead.
For more information, please contact Manulife Customer Service at 1-888-333-3240.
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 fund contracts, mutual funds, annuities, guaranteed interest contracts and structured products. Manulife Structured Products are managed by Manulife Asset Management Limited.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$532 billion (US$535 billion) as at December 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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 manulife.com.
SOURCE: Manulife Financial Corporation
For further information:
Tracy Van Kalsbeek