Press release from CNW Group
Manulife Mutual Funds caps two funds and US Dollar purchase option for Floating Rate Income Fund
Wednesday, October 30, 2013
Manulife Mutual Funds caps two funds and US Dollar purchase option for Floating Rate Income Fund13:00 EDT Wednesday, October 30, 2013
C$ unless otherwise stated
TORONTO, Oct. 30, 2013 /CNW/ - Manulife Mutual Funds, a division of Manulife Asset Management Limited, announced it will cap all new and additional purchases into the Manulife Global Small Cap Fund and Manulife Global Small Cap Balanced Fund (collectively, the "Capped Funds") and close purchases to the USD purchase option for each class of units offered by Manulife Floating Rate Income Fund effective November 8, 2013.
Each series of the Capped Funds will be closed to new and additional purchases, other than contributions made under existing pre-authorized chequing and dollar-cost averaging plans, including those series used in segregated fund contracts (GIF Select InvestmentPlus and GIF Select Original 75 Series).
Mawer Investment Management Ltd., the sub-advisor to the Capped Funds, has reached capacity limits for investments into their Global Small Cap strategy. As a result, these Funds are being capped to new purchases. The USD purchase option for Manulife Floating Rate Income Fund is being capped as investors looking to purchase the fund using U.S. dollars are now able to access this strategy through the new Manulife U.S. Dollar Floating Rate Income Fund.
"We recognize that Mawer's blue chip small cap strategy invests in a capacity-constrained environment and that the decision to cap further contributions is in the best interest of investors" said Derek Saliba, Assistant Vice President, Manulife Mutual Funds. "Investors will continue to have access to the Mawer investment approach through Manulife Mutual Funds in other asset classes including, Manulife U.S. Equity Fund, Manulife World Investment Fund/Class, Manulife Global Equity Class, Manulife Canadian Bond Fund, and the new Manulife Global Balanced Fund".
About Manulife Mutual Funds
Manulife Mutual Funds, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing assets for Canadian investors, through a diverse portfolio of forward-thinking mutual fund products. Our experienced Portfolio Managers offer access to markets in Canada, the United States and around the world, in a range of investment styles to help meet individual needs. Manulife Mutual Funds is part of Manulife Investments, which offers personal wealth management products and services, such as mutual funds, segregated fund contracts, annuities and guaranteed interest contracts. For more information, please visit manulifemutualfunds.ca.
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$567 billion (US$539 billion) as at June 30, 2013. 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
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