On The Shelf: Manulife expands IncomePlus fund offering, and more product news

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(June 27, 2008) Manulife Investments has added to the list of underlying mutual funds available under its IncomePlus program, increasing the available options from 26 to 35.

The newly added funds included five new managers: Cambridge Funds; Mawer Investment Management; RBC Asset Management; Renaissance Investments; and TD Asset Management.

The expanded fund offering will also include five fund bundles that will maintain an asset mix of approximately 20% fixed income and 80% equity funds.

“These changes will make IncomePlus even more competitive in the marketplace,” says Michael Ondercin, assistant vice-president of segregated funds for Manulife Investments. “Not only do we have top fund companies working with us, but the new 80/20 bundle portfolios are well diversified with global and Canadian investment exposure, designed to provide lower overall volatility while enhancing return potential through higher equity allocations.”

The new IncomePlus funds include:

• Manulife 80/20 Bundle
• Manulife CI Cambridge 80/20 Bundle
• Manulife Fidelity Disciplined Equity 80/20 Bundle
• Manulife RBC O’Shaughnessy 80/20 Bundle
• Manulife Renaissance 80/20 Bundle
• Manulife Mawer Diversified Investment
• Manulife Fidelity Canadian Balanced
• Manulife CIBC Monthly Income
• Manulife TD Dividend Income

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RBC cuts fees, changes fund lineup

(June 27, 2008) RBC Asset Management has announced a series of changes within the fund lineup, including a reduction in management fees, fund name changes and a change in policy for accounts below fund minimums.

Effective June 27, 2008, management fees will be reduced by 10 basis points for the series F and series D units of the RBC Canadian Short-Term Income Fund and the RBC Bond Fund.

In addition, also effective June 27, 2008, the RBC Cash Flow Portfolio will be renamed the RBC Managed Payout Solution and the RBC Enhanced Cash Flow Portfolio will be renamed the RBC Managed Payout Solution — Enhanced. The RBC Tax Managed Return Fund with become the RBC Managed Payout Solution — Enhanced Plus.

The RBC Funds 2008 Simplified Prospectus has been amended to allow the firm to transfer assets that fall below minimum investment levels, without notice, from the RBC Premium Money Market Fund and the RBC Premium $U.S. Money Market Fund to the same series units of the RBC Canadian Money Market Fund and the RBC $U.S. Money Market Fund.

Previously, when these account balances fell below the required minimum, units of these funds could only be redeemed, without notice, for cash.

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Mavrix merges funds, changes name

(June 27, 2008) Mavrix Fund Management has merged the Mavrix Canada Fund and the Mavrix Diversified Fund into the Mavrix Income Fund.

The merger was approved by unitholders of both funds at a special meeting for both funds held on June 25, 2008.

On June 27, 2008, the Mavrix Income Fund will change its name to the Mavrix Balanced Monthly Pay Fund. The Mavrix Balanced Monthly Pay Fund will pay a fixed monthly distribution of $0.075 per unit and will attempt to provide high-investment returns by investing primarily in common and preferred shares, which may pay dividends, in addition to bonds and other fixed income or producing securities such as selected income and royalty trusts.

(06/28/08)