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Mutual funds

Manulife launches six mutual funds

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Manulife Mutual Funds, a division of the renamed Manulife Asset Management, has added six new funds to its growing family of mutual funds.

"Income and yield continue to have prominent focus in investors’ portfolios," says Jeff Ray, assistant vice president, mutual fund products. "With these new funds, Manulife continues to demonstrate leadership and our expertise in fixed income investing by increasing the choices advisors have when building their clients’ income portfolios. These new funds significantly expand our spectrum of fixed income funds and provide advisers and investors with a range of investment options to meet their income and yield requirements."

The funds are now available for sale in Canada.

Manulife Strategic Income Class will be managed by Dan Janis. The fund will strive to generate a return similar to that of a diversified portfolio primarily consisting of government and corporate debt securities from developed and emerging markets, and also US government and agency securities and high yield bonds. This return may be generated primarily by entering into forward contracts.

Manulife Floating Rate Income Fund will appeal to fixed income investors who are concerned with rising interest rates. The fund invests in securities that pay variable, or floating, rates of interest. It can potentially have a unique role in income portfolios by diversifying interest rate sensitive investments and helping investors to diversify their fixed income portfolios.

Manulife Short Term Bond Fund aims to reduce volatility or shorten duration. The fund is managed using an active, value-oriented investment style that is based on fundamental research. The portfolio adviser employs top-down economic research and bottom-up credit analysis that seeks to identify "pockets of value" and minimise downside risk. Terry Carr, who also co-manages the recently launched Manulife Yield Opportunities Fund, is the fund manager.

In addition to the new income funds, the firm has also introduced two new Canadian equity funds and one new Canadian balanced fund.

Manulife Canadian Opportunities Fund and Manulife Canadian Opportunities Class will focus on Canada but also employ "go anywhere" mandates. The fund managers can search both in Canada and globally, as well as by market capitalisation and sector, for the best investment ideas and securities that are believed to be attractively priced with growth potential. Ted Whitehead, who is also lead manager of the Manulife Growth Opportunities Fund, will manage these new funds.

Manulife Canadian Balanced Fund has Mawer Investment Management as sub-adviser and Craig Senyk as fund manager. Senyk also manages the Mawer Canadian Diversified Investment Fund.

Manulife has also made three additional organisational changes. To add clarity to its mutual fund line-up, the company renamed a number of existing funds by removing AIC and Mawer names from the applicable fund names, changed portfolio management responsibilities for two funds and sub-adviser responsibilities for one fund, and also renamed the legal entity which operates Manulife Mutual Funds.

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