C$ unless otherwise
stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Feb. 25, 2021 /CNW/ - Manulife Investment
Management announces a reduction of management fees on three global
equity funds and the termination of three mutual funds. These
changes will help streamline our platform of actively managed
investments and further our commitment to offering diverse,
strong-performing products to help investors achieve their
goals.
Reduction of Management Fees
A reduction of management fees on the following series of three
mutual funds will be effective on or about March 1, 2021:
Fund
Name
|
Series
|
Existing
Management Fee (%)
|
New Management Fee
(%)
|
Manulife Global
Equity Class
|
Advisor Series/
Series T
|
1.95%
|
1.82%
|
Series F/Series
FT
|
0.85%
|
0.72%
|
Manulife Global
Thematic Opportunities Fund
|
Advisor Series/
Series T
|
1.95%
|
1.82%
|
Series F/Series
FT
|
0.85%
|
0.72%
|
Manulife Global
Thematic Opportunities Class
|
Advisor Series/
Series T
|
2.00%
|
1.87%
|
Series F/Series
FT
|
0.90%
|
0.77%
|
It is expected that the reduction in management fees should have
a corresponding impact on the management expense ratio of the funds
over time.
"Delivering the best value possible to Canadian investors is a
priority for us," said Leo Zerilli,
Head of Wealth and Asset Management, Canada. "Our team constantly monitors our fund
lineup and identified an opportunity to improve our pricing on
certain products within the global equity category."
Fund Terminations
Effective on or about June 28,
2021, Manulife Investment Management will terminate the
following funds and distribute the proceeds to securityholders of
record on that date. The planned terminations include:
- Manulife Fundamental Dividend Class
- Manulife Global Dividend Growth Class
- Manulife Global Real Estate Unconstrained Fund
Prospectus qualified securities of the terminating funds will no
longer be available for new purchases effective as of 4 p.m. ET on March 3,
2021. This includes purchases through automatic investment
services such as pre-authorized chequing plans or automatic
rebalancing services. Impacted investors are encouraged to contact
their advisor to discuss the financial and tax implications of
these fund changes and to discuss options, including how to switch
their assets to another Manulife mutual fund that best meets their
individual investment needs and circumstances prior to the
termination date.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than a century of financial stewardship and the full resources
of our parent company to serve individuals, institutions, and
retirement plan members worldwide. Headquartered in
Toronto, our leading capabilities
in public and private markets are strengthened by an investment
footprint that spans 17 countries and territories. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to
investing responsibly across our businesses. We develop innovative
global frameworks for sustainable investing, collaboratively engage
with companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to
help their employees plan for, save for, and live a better
retirement.
As of December 31, 2020, Manulife
Investment Management had CAD$966
billion (US$758 billion) in
assets under management and administration. Not all offerings
are available in all jurisdictions. For additional information,
please visit manulifeim.com.
About Manulife
Manulife Financial Corporation is a leading international financial
services group that helps people make their decisions easier and
lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across
our offices in Canada,
Asia, and Europe, and primarily as John Hancock in the
United States. We provide financial advice, insurance, and
wealth and asset management solutions for individuals, groups and
institutions. At the end of 2020, we had more than 37,000
employees, over 118,000 agents, and thousands of distribution
partners, serving over 30 million customers. As of December 31, 2020, we had $1.3 trillion (US$1.0
trillion) in assets under management and administration, and
in the previous 12 months we made $31.6
billion in payments to our customers. Our principal
operations are in Asia,
Canada and the United States where we have served
customers for more than 155 years. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
SOURCE Manulife Investment Management