TORONTO, Aug. 28, 2006 – Manulife Mutual Funds, a division of Elliott & Page Limited, announced a number of enhancements, including the addition of three new global mandates to its lineup of funds.
To help investors benefit from the gains they have made in the Canadian markets and encourage global diversification, Manulife Mutual Funds will add three new global mandates to its lineup of funds.
The new funds are:
The Elliott & Page Global Dividend Fund, managed by the Value Equity Team of MFC Global Investment Management (MFC Global). The Value Equity Team has extensive experience managing value-oriented investment mandates. The Team will seek out the best dividend-paying companies, on a global basis, to capture both income and long-term capital appreciation for Canadian investors.
The Manulife Simplicity Global Balanced Portfolio. Steve Orlich, Vice President and Senior Portfolio Manager, MFC Global, will be the lead manager for the Fund. Mr. Orlich is an asset allocation specialist who is currently responsible for $38 billion in asset allocation products worldwide as at March 31, 2006.
The MIX World Investment Class, sub-advised by Mawer Investment Management Ltd. (Mawer). The selection of Mawer as a sub-advisor for the Fund follows an extensive manager search for a firm who has demonstrated a strong and consistent track record of managing international mandates in all market cycles. The Mawer World Investment Fund won International Equity Fund of the Year honours for 2005, 2003 and 2002 at the Canadian Investment Awards.
“With the outperformance of the Canadian market and the elimination of foreign content restrictions to retirement plans, now is the time to reduce risk and ensure your portfolio is properly diversified inside and outside Canadian borders.” said Doug Conick, Vice President, Investment Funds. “We want to provide broader access to foreign markets because we believe our investors can benefit from global diversification and access to world class investment management.”
In addition, Manulife Mutual Funds also announced a number of other changes to the 2006 simplified prospectus renewal. All changes, including the new funds, are effective August 28, 2006.
The Elliott & Page Core Balanced Fund is being added to Manulife Mutual Fund’s line-up. MFC Global Vice President and Senior Portfolio Manager, Pat McHugh will manage the Fund. Mr. McHugh has more than 20 years of experience and is responsible for overseeing MFC Global’s Canadian large cap core mandates.
Mr. McHugh is also taking over lead manager responsibilities for the MIX Canadian Large Cap Core Class. Bissett Investment Management will no longer act as sub-advisor to this Fund.
MFC Global Vice President and Senior Portfolio Manager Shauna Sexsmith, will replace Danny Tomka as the lead manager for the Elliott & Page Generation Wave Fund. Ms. Sexsmith has more than 18 years of experience managing growth-oriented mandates.
Effective October 16, 2006, the following funds will be terminated as previously announced: MIX F.I. Growth America Class, MIX F.I. International Portfolio Class, MIX International Growth Class and MIX U.S. Large Cap Core Class.
About Mawer Investment Management Ltd.
Mawer Investment Management Limited, headquartered in Calgary, Alberta, is a privately owned Investment Counselling and Portfolio Management firm, founded in 1974. Mawer manages investment portfolios for individuals and institutions through segregated and pooled approaches. Total assets under management are approximately $3.5 billion as at June 30, 2006.
About MFC Global Investment Management
MFC Global Investment Management is the diversified investment management group of Manulife Financial, with investment offices in the United States, Canada, the United Kingdom, Japan, Australia, Hong Kong, and throughout Southeast Asia. MFC Global has more than 100 years of experience managing portfolios for The Manufacturers Life Insurance Company, John Hancock Life Insurance Company, and other major clients. With more than C$230 billion in assets under management, MFC Global Investment Management is a leading global investment management group.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation 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 serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$370 billion (US$332 billion) as at June 30, 2006.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.