Don Sutton and Michael Rabkin wanted to let you know that changes will be made to the Manulife RetirementPlus™, GIF Select, GIF Select (original), GIF and GIF encore, MLIA, MLIP, CAP and Series R investment options that include fund additions (effective Monday April 7, 2014) and fund closures (effective Friday, April 25, 2014). These changes are part of Manulife's ongoing commitment to maintaining attractive investment options for clients within our segregated fund lineup. Clients have been notified of these changes via their December 2013 statements.
A Repsource article will be posted early this week reminding of these exciting changes. You’ll also notice that fund sheets for the new funds are launching on April 7th and Fund Fact booklets will be available for order and online April 30. Please see attached for more details.
Key Highlights:
Fund Additions
Manulife is pleased to announce the addition of three fund options to further expand the U.S. investment options available in Manulife’s segregated fund contracts.
Funds added to Manulife RetirementPlus™
· Manulife RetirementPlus U.S. Monthly High Income
· Manulife RetirementPlus U.S. Dividend Class
Funds added to GIF Select - InvestmentPlus® Series
· Manulife U.S. Monthly High Income GIF Select
· Manulife U.S. Dividend Class GIF Select
Funds added to GIF Select (original) - 75 Series
· Manulife U.S. Monthly High Income GIF Select
· Manulife U.S. Dividend Class GIF Select
· Manulife U.S. All Cap Equity GIF Select
For full details on the underlying mutual funds prior to their launch in the segregated fund contracts listed above, please visit www.manulifemutualfunds.ca.
Fund Closures
Effective Friday, April 25, 2014, we will close the following funds and their assets will be switched to the continuing funds for GIF Select, GIF Select (original), GIF and GIF encore, MLIA, MLIP, CAP and Series R contracts.
| CLOSING FUND | CONTINUING FUND |
| Manulife Invesco Select Canadian Equity | Manulife Canadian Opportunities |
| Manulife Emerging Markets Equity | Manulife CI Cambridge Global Equity |
| Manulife U.S. Opportunities | Manulife U.S. Equity |
| Manulife CI Bundle | Manulife CI Signature Bundle |
| Manulife Canadian Dividend Fund | Manulife Dividend Income |
| Manulife Growth Opportunities | Manulife Canadian Small Cap |
Closing funds will not accept new deposits or switches-in on or after Monday, April 7, 2014. Any deposits to the closing funds prior to this date will switch to the continuing fund. Regularly scheduled investments in place [pre-authorized chequing plans (PACs), monthly switches-in and scheduled withdrawal payments (SWPs)] for any of the closing funds listed will automatically move to the continuing fund, unless we're notified otherwise.
One of the funds being added on April 7th is the Manulife US Monthly High Income Fund. Please see details right below this:
The US Monthly High Income Fund is well positioned to capitalize on the growth potential south of the border and expand Manulife Mutual Funds’ U.S. equity and balanced fund offering. The Manulife U.S. Monthly High Income Fund seeks to provide a combination of income and capital appreciation by investing primarily in a diversified portfolio of U.S. dividend paying and other equity securities, as well as fixed- income securities. The fund aims to offer a steady flow of monthly income. The investment process is similar to that of the Manulife Monthly High Income Fund, a flagship fund of Manulife Mutual Funds, only the new fund focuses on investing in U.S. securities.
To learn more about this fund please Click Here
THE FUND:
- Built on the success of the award-winning Manulife Monthly High Income Fund, with a similar investment approach to leverage the opportunities in the U.S. equity and fixed-income markets.
- Managed by Alan Wicks, Jonathan Popper, Conrad Dabiet, Howard Greene, Jeffrey Given and Konstantin Kizunov of Manulife Asset Management Limited and Manulife Asset Management (US) LLC.
- Managers will be investing primarily in U.S. dividend-paying equities and investment grade and high yield fixed-income securities, aiming to deliver strong risk-adjusted returns and consistent income to investors.
WHY YOU SHOULD INVEST:
- Provides a steady and attractive monthly income stream of 3 cents per unit (3.6% initial distribution yield)\
- Experienced value managers investing in U.S. dividend paying equities that generate stable and predictable cash flows
- Fixed income team comprised of seasoned U.S. bond managers based out of the U.S. with a proven track record
WHY ALAN WICKS & HIS TEAM:
Alan has been managing Monthly High Income fund since the inception in 1997. Please see below for the performance over the last 16 years. The fund itself is:
- Currently 1st quartile over 1,3, 5, 10 & 15 year periods
- Returned 10% compounded annually over 15 years
- Morningstar Profile: click here
- Alan Wicks Bio (Portfolio Manager): click here
For a full summary and additional details please see the attached guide
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