C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Sept. 16, 2019 /CNW/ - Manulife Investment
Management today announced that it will make the following changes
effective on or about October 21,
2019:
- Changes to Manulife Fundamental Equity Class
- Introduction of a two-year deferred sales charge option
Changes to Manulife Fundamental Equity Class
- Investment strategy change
- Lowering management fees
- Change of fund name
Effective on or about October 21,
2019, Manulife Fundamental Equity Class will undergo an
investment strategy change, increasing the minimum Canadian content
in the fund from 51% to 90%. The change in strategy aims to provide
investors exposure to a portfolio of predominately high-quality
large cap Canadian equities. The change in strategy will closer
align it in portfolio composition to Manulife Canadian Equity
Private Pool, also managed by Patrick
Blais, head of the Manulife Fundamental Equity Team.
|
Fund
Name
|
Series
|
Existing
Management Fee
|
New Management
Fee
|
Percentage
Change
|
|
Manulife
Fundamental
Equity Class
|
Advisor
Series
|
1.81%
|
1.68%
|
-7.2%
|
|
Series T
|
1.78%
|
1.68%
|
-5.6%
|
|
Series F & Series
FT
|
0.77%
|
0.68%
|
-11.7%
|
|
Current Fund
Name
|
New Fund
Name
|
|
Manulife Fundamental
Equity Class
|
Manulife Canadian
Equity Class
|
The reduction in management fees will have a corresponding
impact on the management expense ratio of the funds over time.
Introduction of a two-year deferred sales charge
option
Effective on or about October 21,
2019, Manulife Investment Management will introduce a new
sales charge option called Low-Load 2, available on most of its
mutual funds. This development is a result of the evolving
needs of advisors/planners to have access to a shorter version of
the traditional Low Load which has a 3-year redemption
schedule.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than 150 years of financial stewardship to partner with
clients across our institutional, retail, and retirement businesses
globally. Our specialist approach to money management includes the
highly differentiated strategies of our fixed-income, specialized
equity, multi-asset solutions, and private markets teams—along with
access to specialized, unaffiliated asset managers from around the
world through our multimanager model. Our personalized, data-driven
approach to retirement is focused on delivering financial wellness
in retirement plans of all sizes to help plan participants and
members retire with dignity.
Headquartered in Toronto, we
operate as Manulife Investment Management throughout the world,
with the exception of the United
States, where the retail and retirement businesses operate
as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates
as Manulife. Manulife Investment Management had C$844 billion (USD $645
billion) in assets under management and administration as of
June 30, 20191. Not all
offerings available in all jurisdictions. For additional
information, please visit our website at
manulifeinvestmentmgt.com.
1. Source: MFC financials. Global Wealth and Asset Management
AUMA at June 30, 2019 was
C$844 billion and includes
C$191 billion of assets managed on
behalf of other segments and C$136
billion of assets under administration.
About Manulife
Manulife Financial Corporation is a leading international
financial services group that helps people make their decisions
easier and lives better. We operate primarily as John Hancock in the
United States and Manulife elsewhere. We provide financial
advice, insurance, as well as wealth and asset management solutions
for individuals, groups and institutions. At the end of 2018, we
had more than 34,000 employees, over 82,000 agents, and thousands
of distribution partners, serving almost 28 million customers. As
of June 30, 2019, we had over
$1.1 trillion (US$877 billion) in assets under management and
administration, and in the previous 12 months we made $29.4 billion in payments to our customers. Our
principal operations in Asia,
Canada and the United States are where we have served
customers for more than 100 years. With our global headquarters in
Toronto, Canada, we trade as 'MFC'
on the Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
SOURCE Manulife Investment Management