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TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, July 27, 2021 /CNW/ - Manulife Investment
Management today announced a number of updates to its investment
offerings.
Included in the updates are:
- Changes to Canadian Value Equity team
- Changes to the names of certain funds
- Addition of sub advisors to select funds
- Risk rating adjustments on certain funds
- Changes to DSC and order-entry only dealer commissions
Canadian Value Equity Team Updates
The Canadian Value Equity team will be renamed to the Manulife
Investment Management Essential Equity team, effective on
August 3, 2021. The team manages
multiple strategies for public institutional and retail clients,
and over the last 24 plus years, has expanded from managing largely
domestic Canadian equity and balanced mandates to managing broader
mandates including global balanced, U.S. equity and balanced, and
focused equity capabilities strategies. The new name more
accurately reflects the team's evolution since its inception in
1996.
"This is a high-performing team that has built a strong,
scalable and repeatable investment process to deliver long-term
performance," said Steve Medina,
CIO, global equity. "They will continue managing clients'
portfolios with the highest level of service in a manner consistent
with agreed upon guidelines and investment objectives."
Alan Wicks, Senior Managing
Director, Senior Portfolio Manager, and founder of the Essential
Equity team will continue serving as its head, overseeing the
research and portfolio management efforts of the team's strategies,
while shifting away from fund portfolio management on January 2, 2022. With each strategy already
having multiple portfolio managers including a lead, this shift is
a natural step of the team's development.
"I'm immensely proud of the team that has been built over the
years, the performance we have delivered and the relationships we
have formed with clients," said Alan
Wicks, Senior Managing Director, Senior Portfolio Manager,
Manulife Investment Management. "I am excited about the next series
of challenges and triumphs as we move forward together."
Manulife Value Balanced Fund/Class Name Changes
As part of the updates, Manulife Investment Management is
announcing the following name changes to two of the team's Mutual
Fund products, which become effective on or about the close of
business on August 3, 2021.
Current Fund
Name
|
New Fund
Name
|
Manulife Value
Balanced Fund
|
Manulife Global
Monthly High Income Fund
|
Manulife Value
Balanced Class
|
Manulife Global
Monthly High Income Class
|
The retail class and fund will remain in the Global Neutral
Balanced category, and its investment process will stay the
same.
Addition of Sub Advisor to Select Funds
Effective on or about the close of business on August 3, 2021, the following individual will be
added as a portfolio manager for the Manulife Global Unconstrained
Bond Fund and the Manulife Global Strategic Balanced Yield Fund,
and will share joint responsibility with the currently named
portfolio managers for the day-to-day investment decisions of the
funds.
- Murray Collis, Deputy Chief
Investment Officer, Fixed Income, Asia ex-Japan
As a result of this development, Manulife Investment Management
(Singapore) Pte. Ltd. will be
added as a Sub-Advisor to the two impacted funds.
Changing Risk Ratings on Select Funds
Manulife Investment Management is also announcing a number of
risk rating changes to its Mutual Fund platform as part of its
annual Prospectus renewal process. These changes become effective
on or about the close of business on August
3, 2021.
Risk rating increase:
Fund
|
Current
Rating
|
New Rating
|
Manulife U.S. All Cap
Equity Fund
|
Medium
|
Medium to
High
|
Manulife U.S. All Cap
Equity Class
|
Medium
|
Medium to
High
|
Risk rating decrease:
Fund
|
Current
Rating
|
New Rating
|
Manulife Strategic
Investment Grade Global Bond Fund
|
Low to
Medium
|
Low
|
Manulife Moderate
Portfolio
|
Low to
Medium
|
Low
|
The risk rating changes are based on an annual review following
the methodology mandated by the Canadian Securities Administrators
and are not the result of any changes to the investment objectives,
strategies or management of these funds.
Changes to Deferred Sales Charges (DSC) and order-entry only
dealer commissions
Following the decision from the Canadian Securities
Administrators (CSA) to ban DSC, Manulife Investment Management is
announcing its intention to discontinue new sales of its deferred
sales charge options, including Low Load Sales Charges option, on
or before May 31, 2022. In addition,
Manulife Investment Management will be stopping the payment of any
trailing commission to order-entry only dealers implementing the
CSA restriction on such payments.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than a century of financial stewardship and the full resources
of our parent company to serve individuals, institutions, and
retirement plan members worldwide. Headquartered in
Toronto, our leading capabilities
in public and private markets are strengthened by an investment
footprint that spans 17 countries and territories. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to
investing responsibly across our businesses. We develop innovative
global frameworks for sustainable investing, collaboratively engage
with companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to
help their employees plan for, save for, and live a better
retirement.
As of March 31, 2021, Manulife
Investment Management had CAD $764.1
billion (US $607.6 billion) in
assets under management and administration. Not all offerings are
available in all jurisdictions. For additional information, please
visit manulifeim.com.
SOURCE Manulife Investment Management