WATERLOO, ON, July 31, 2003 – Manulife Investments will add five new guaranteed investment funds to its roster of GIF and GIF encore segregated funds for Canadian investors. All five new funds are available starting today.
“Manulife Investments offers one of the best selections of segregated funds in the industry, with more than 60 industry-leading funds from well-known money managers,” said J. Roy Firth, Senior Vice President of Individual Wealth Management, Manulife Financial. “The integrity of our selections is maintained by ongoing reviews of our funds. All new funds are chosen based on their ability to enhance the investment choices for investors.”
Among the newest funds announced today is a Manulife Dollar-Cost Averaging Advantage GIF, available for new deposits until December 31, 2003.
The Manulife Dollar-Cost Averaging Advantage GIF provides a cash-balance return that is equivalent to the rate offered by the Manulife Bank Advantage Account — a variable rate, interest-bearing bank account currently paying a rate of return of 2.8 per cent (as of July 16, 2003). Combining these rates with a dollar-cost averaging strategy allows investors to generate high, steady returns on their fund balances, while easing their way at regular intervals into GIF or GIF encore funds of their choice. To duplicate investment returns offered through the Advantage Account, the GIF’s Management Expense Ratio (MER) will be waived, allowing clients to earn higher returns than available through a typical money market or cash-based fund.
“We think this in an excellent opportunity for investors currently looking for the opportunity to ease into the markets,” said Mr. Firth “Dollar-cost averaging is a proven method for those who want to invest over time and average out the prices of investments. As always, investors need to ensure their own portfolios are well diversified and they are seeking professional advice to achieve their individual goals.”
Additional Manulife GIF and GIF encore funds
In addition to the Manulife Dollar-Cost Averaging Advantage GIF, Manulife Investments is adding four other new funds as part of its Guaranteed Investment Funds (GIF) and GIF encore fund line-ups. (for details please see Fact Sheet)
- Manulife MIX Global Value Class GIF
- Manulife MIX US Large Cap Value Class GIF
- Manulife Renaissance Canadian Core Value GIF
- Manulife Talvest Canadian Equity Growth GIF
Designed to offer investors a more complete range of investment choices to suit their individual approaches and personal investment styles, these new funds are available through Manulife Financial’s broad national advisor network.
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of The Manufacturers Life Insurance Company that offer personal wealth management products and services in Canada. As one of Canada’s leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated funds, mutual funds, annuities and guaranteed investment contracts.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$144.3 billion as at June 30, 2003.
Manulife Investments offers five new GIF and GIF encore options
Manulife Dollar-Cost Averaging Advantage GIF
Offering a return equivalent to the rate offered on the Manulife Bank’s Advantage Account, this GIF allows investors the opportunity to ease into the markets through dollar-cost averaging over the ensuing six to 12 months. The management expense ratio (MER) will be waived in order to duplicate the investment returns offered through the Advantage Account, allowing Manulife to offer a dollar-cost averaging fund with better returns than a typical money market or cash-based fund.
Manulife MIX Global Value Class GIF & Manulife MIX U.S. Large Cap Value Class GIF
Invest in two value-based, large cap investment options focused on some of the largest companies in foreign markets. The manager of the underlying funds, Alliance Bernstein, is one of the largest asset management firms in the United States, managing approximately USD$368 billion as of December 31, 2002.
Manulife Renaissance Canadian Core Value GIF
Ranked No. 1 by Globe Hysales over the five-year period as at May 31, 2003, the underlying fund offers a superior risk-adjusted return combined with a unique, highly-disciplined, bottom-up value investment approach, which makes this fund a good option on a five-year annualized return.
Manulife Talvest Canadian Equity Growth GIF
With a 15-year track record in managing Canadian large cap growth stocks, manager of the underlying fund Ian Joseph uses a strict buy/sell discipline based on a valuation analysis that focuses on a company’s fundamentals.