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TheStreet Open House

Manulife Mutual Funds Adds Five New Funds To Its Lineup

Stock quotes in this article: MFC

New funds help investors access the U.S. market, including Manulife U.S. Monthly High Income Fund

TSX/NYSE/PSE: MFC    SEHK:945 

TORONTO, Jan. 7, 2014 /PRNewswire/ - On December 24, 2013, Manulife Mutual Funds launched the following five new funds:

  • Manulife U.S. Monthly High Income Fund
  • Manulife U.S. Dividend Class
  • Manulife U.S. Dividend Registered Fund
  • Manulife U.S. Dollar U.S. All Cap Equity Fund
  • Manulife U.S. Dollar Strategic Balanced Yield Fund

These new funds expand the U.S. equity and balanced fund offering from Manulife Mutual Funds, and capitalize on its asset management expertise in Canada and the U.S. The portfolio advisor for all five funds is Manulife Asset Management Limited.

"The U.S. market currently offers solid investment opportunities for investors who are looking for growth potential and income in their portfolios," said Derek Saliba, Assistant Vice President, Manulife Mutual Funds. "The launch of these five new funds serves to strengthen Manulife Mutual Funds' position as a leading provider of U.S.-based investment opportunities."

Key Highlights

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 is 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.

"We are thrilled to extend the approach of our Manulife Monthly High Income Fund to the U.S. equity and fixed income markets through the new Manulife U.S. Monthly High Income Fund," said Mr. Saliba. " Alan Wicks and the team are experienced not only managing equity income strategies, but also investing in the U.S.  We are combining this expertise with that of Howard Greene, Jeffrey Given and Konstantin Kizunov on the fixed income side. These fixed income managers have demonstrated an ability to generate strong performance throughout market cycles."

The Manulife U.S. Dividend Class seeks to provide long-term capital appreciation by investing primarily in a portfolio of U.S. dividend paying stocks and other equity securities. It is managed by Walter McCormick and Sandy Sanders of Manulife Asset Management (US) LLC.

The Manulife U.S. Dividend Registered Fund seeks to provide long-term capital appreciation by investing primarily in a portfolio of U.S. dividend paying stocks and other equity securities. This fund is offered only to certain registered plans with qualified planholders. Unlike some other Canadian mutual funds that are generally subject to a 15 per cent U.S. withholding tax on dividends received from U.S. companies, the Manulife U.S. Dividend Registered Fund aims to qualify for an exemption from this tax. The fund is managed by Walter McCormick and Sandy Sanders of Manulife Asset Management (US) LLC.

The Manulife U.S. Dollar U.S. All Cap Equity Fund seeks to provide long-term capital appreciation in U.S. dollars by investing primarily in equity securities of U.S. companies of all sizes. This U.S. dollar denominated fund is modeled after the Manulife U.S. All Cap Equity Fund with a similar investment objective and strategy. The fund is managed by Sandy Sanders and Walter McCormick of Manulife Asset Management (US) LLC. With the launch of the Manulife U.S. Dollar U.S. All Cap Equity Fund, the U.S. dollar purchase option of the Manulife U.S. All Cap Equity Fund has been closed to new purchases (buys and switch-ins) effective December 20, 2013.

The Manulife U.S. Dollar Strategic Balanced Yield Fund seeks to provide a combination of income and capital appreciation in U.S. dollars by investing primarily in a diversified portfolio of dividend paying equity securities and fixed income securities. This U.S. dollar denominated fund is modeled after the Manulife Strategic Balanced Yield Fund with a similar investment objective and strategy. The fund is managed by a team of experienced U.S. equity portfolio managers and global multi-sector fixed income managers from Manulife Asset Management (US) LLC and Manulife Asset Management ( Hong Kong) Limited. With the launch of the Manulife U.S. Dollar Strategic Balanced Yield Fund, the U.S. dollar purchase option of the Manulife Strategic Balanced Yield Fund has been closed to new purchases (buys and switch-ins) effective December 20, 2013.

Available Series

With the exception of the Manulife U.S. Dividend Registered Fund, the new funds are offered for sale in Advisor Series, Series F, Series FT, Series I, Series IT and Series T securities. The Manulife U.S. Dividend Registered Fund is offered for sale in Advisor Series, Series F and Series I securities only. The Manulife U.S. Monthly High Income Fund, the Manulife U.S. Dividend Class and the Manulife U.S. Dividend Registered Fund may be purchased in both Canadian and U.S. dollars, while the Manulife U.S. Dollar U.S. All Cap Equity Fund and the Manulife U.S. Dollar Strategic Balanced Yield Fund may only be purchased in U.S. dollars.

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