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TORONTO, Jan. 14, 2019 /CNW/ - Manulife Investments
announced today its intent to implement a fund merger of Manulife
International Value Equity Fund into Manulife EAFE Equity Fund
(formerly Manulife International Focused Fund) (the
"Funds").
The proposed merger is designed to eliminate redundancy and
streamline Manulife's platform for advisors and investors. Both
Funds are currently sub-advised by Pictet Asset Management.
The proposed merger will be executed on a taxable basis and will
require regulatory approval, as well as the approval of the
securityholders of the Funds. The Independent Review Committee of
the Funds has reviewed the proposed merger and concluded that it
achieves a fair and reasonable result for the Funds.
Manulife Investments is also proposing to change the investment
objective of Manulife EAFE Equity Fund to better align with the
sub-advisor's usual objective and strategy for similar mandates.
Such change will require the approval of the securityholder of the
Manulife EAFE Equity Fund.
The securityholders of the Funds will receive a Notice of
Meeting and Management Information Circular for the respective
proposals, in accordance with applicable securities laws. The
required securityholder approvals will be sought at special
meetings to be held on or about March 14,
2019 for securityholders of record as of January 31, 2019. Subject to these approvals,
Manulife Investments is proposing to merge the funds on or about
April 5, 2019.
Subject to the proposed merger taking place, Manulife EAFE
Equity Fund will also receive a management fee reduction on Series
F and Series FT of 0.08% effective after close of business on
April 5, 2019.
About Manulife Investments
Manulife Investments, a division of Manulife Asset Management
Limited, builds on 125 years of Manulife's wealth and investment
management expertise in managing assets for Canadian investors. As
one of Canada's leading integrated
financial services providers, Manulife Investments and its
affiliates offer a variety of products and services including
exchange traded funds, segregated fund contracts, mutual funds and
guaranteed interest contracts.
About Manulife
Manulife Financial Corporation is a leading international
financial services group that helps people make their decisions
easier and lives better. We operate primarily as John Hancock in the
United States and Manulife elsewhere. We provide
financial advice, insurance, as well as wealth and asset management
solutions for individuals, groups and institutions. At the end of
2017, we had about 35,000 employees, 73,000 agents, and thousands
of distribution partners, serving more than 26 million customers.
As of September 30, 2018, we had over
$1.1 trillion (US$863 billion) in assets under management and
administration, and in the previous 12 months we made $27.6 billion in payments to our customers. Our
principal operations are in Asia,
Canada and the United States where we have served
customers for more than 100 years. With our global headquarters in
Toronto, Canada, we trade as 'MFC'
on the Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
SOURCE Manulife Financial Corporation