Manulife Investments reduces management fees and management expense ratios (MERs) for select mutual funds and corrects MER for Manulife Floating Rate Senior Loan Fund Français
TSX/NYSE/PSE: MFC SEHK:945
TORONTO, Oct. 6, 2014 /CNW/ - Manulife Investments, a division of Manulife Asset Management Limited, today announced that, effective September 15, 2014, it lowered MERs for some of its funds. Management fees of select funds were also reduced effective October 1, 2014. These changes reflect Manulife Investments' commitment to provide attractive pricing options for investors.
"These fee reductions, along with the experienced portfolio management and strength of Manulife, reaffirm our commitment to helping advisors meet their client needs" said Derek Saliba, Assistant Vice President & Head of Mutual Funds Product, Manulife.
Fee changes have been applied to the following funds:
| Current MER |
New MER |
|
| Series F and FT |
||
| Manulife Asia Equity Class |
1.64 |
1.44 |
| Manulife Asia Total Return Bond Fund |
1.40 |
1.20 |
| Manulife Canadian Opportunities Balanced Class |
1.40 |
1.20 |
| Manulife Canadian Opportunities Balanced Fund |
1.40 |
1.20 |
| Manulife Global Infrastructure Class |
1.68 |
1.50 |
| Manulife Global Infrastructure Fund |
1.68 |
1.50 |
| Manulife U.S. All Cap Equity Class |
1.45 |
1.30 |
| Manulife U.S. All Cap Equity Fund |
1.45 |
1.30 |
| Manulife U.S. Dollar U.S. All Cap Equity Fund |
1.45 |
1.30 |
| Manulife U.S. Dividend Registered Fund |
1.45 |
1.30 |
| Manulife U.S. Dividend Class |
1.45 |
1.30 |
| Manulife U.S. Large Cap Equity Class |
1.45 |
1.30 |
| Manulife U.S. Large Cap Equity Fund |
1.45 |
1.30 |
| Advisor Series and Series T |
||
| Manulife Asia Equity Class |
2.99 |
2.75 |
| Manulife Asia Total Return Bond Fund |
2.30 |
2.10 |
| Manulife Canadian Opportunities Balanced Class |
2.45 |
2.30 |
| Manulife Canadian Opportunities Balanced Fund |
2.45 |
2.30 |
| Manulife China Class |
3.15 |
2.75 |
| Manulife World Investment Fund |
2.68 |
2.59 |
| Current |
New |
|
| Advisor Series and Series T |
||
| Manulife China Class |
2.50 |
2.45 |
| Elite Series (Series I) |
||
| Manulife Asia Equity Class |
1.20 |
1.10 |
| Manulife Global Infrastructure Class |
1.20 |
1.15 |
| Manulife Global Infrastructure Fund |
1.20 |
1.15 |
*The Manager is waiving a portion of the management fee resulting in a reduction of the management fee charged as outlined above. Although the Manager currently intends to continue these reductions for the foreseeable future, it reserves the right to stop waiving this portion of the fee at any time and without prior notice or consent.
Manulife Investments, the manager of the Manulife Floating Rate Senior Loan Fund (the "Fund") (TSX:MFR.UN), also announced today that it has filed an amended and restated Management Report of Fund Performance ("MRFP") for Class A and Class U securities of the Fund.
The MRFP has been revised to reflect the correct management expense ratio and management expense ratio excluding issue costs for both Class A and Class U securities. The correct amount is 2.78% for the period ended June 30th, 2014, not 4.49% as originally stated. The MRFP has also been revised to reflect the correct management expense ratio before interest expense ratio for both Class A and Class U securities of 1.83% for the period ended June 30th, 2014, not 3.54% as originally stated. Related impacts to the Fund's performance commentary in the Results of Operations section of the MRFP have also been corrected.
The refiled MRFP is available on SEDAR at www.sedar.com and on the Manulife Investments website at www.manulifemutualfunds.ca.
For more information, please contact Manulife Customer Service at 1-888-588-7999.
Forward Looking Statements
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund, the Manager and/or the Advisor. The forward-looking statements are not historical facts but reflect the Fund's, the Manager's, and/or the Advisor's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, the Manager, and/or the Advisor believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, the Manager and/or the Advisor undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
About Manulife Investments
Manulife Investments, 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. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.
About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife, providing comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad range of public and private asset classes, as well as asset allocation solutions. As at June 30, 2014, assets under management for Manulife Asset Management were approximately C$300 billion (US$281 billion).
Additional information about Manulife Asset Management may be found at ManulifeAM.com.
About Manulife
Manulife 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 and its subsidiaries were approximately C$637 billion (US$597 billion) as at June 30, 2014. We operate as John Hancock in the U.S. and as Manulife in other parts of the world.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com
SOURCE: Manulife Financial Corporation
Media contact: Sean B. Pasternak, Manulife, 416-852-2745, [email protected]
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