Manulife Mutual Funds narrows shelf

Manulife Mutual Funds has announced plans to merge certain funds, which would result in the termination of four trust funds and two corporate class mandates. The mergers will be effective on or about November 4, 2011.

“We regularly examine our mutual fund lineup to ensure each fund is meeting its objectives. Following the most recent fund review, we believe it’s in the best interest of security-holders of certain funds that we initiate these proposed fund mergers,” said Jeff Ray, assistant vice-president, Manulife Mutual Funds and Structured Products. “The fund mergers are expected, over time, ultimately to lower the cost of fund administration for investors by spreading operating costs and expenses across a greater pool of assets.”

The terminating funds will be merged into continuing funds with similarities in fund mandates. The planned mergers are as follows:

All terminating fund security-holders are encouraged to discuss the consolidation with their advisor to ensure that the continuing fund will continue to meet their individual investment goals.

Following the mergers, pre-authorized chequing plans, systematic withdrawal plans and dollar cost averaging plans, which had been established with respect to a terminating fund will be re-established with respect to the corresponding continuing fund, unless security-holders advise us otherwise. Each terminating fund is intended to be wound-up or terminated as soon as possible after completion of its merger.

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