Manulife Mutual Funds launched the five new funds to expand its US equity and balanced fund offering and capitalize on its asset management expertise in Canada and the US.
The five funds are:
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- Manulife US Monthly High Income Fund
- Manulife US Dividend Class
- Manulife US Dividend Registered Fund
- Manulife US Dollar US All Cap Equity Fund
- Manulife US Dollar Strategic Balanced Yield Fund
The portfolio advisor for all five funds is Manulife Asset Management Limited.
Derek Saliba, assistant vice president, Manulife Mutual Funds, said: "The U.S. market currently offers solid investment opportunities for investors who are looking for growth potential and income in their portfolios. The launch of these five new funds serves to strengthen Manulife Mutual Funds’ position as a leading provider of U.S.-based investment opportunities."
Key Highlights
The Manulife US Monthly High Income Fund seeks to provide a combination of income and capital appreciation by investing primarily in a diversified portfolio of US dividend paying and other equity securities, as well as fixed income securities.
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By GlobalDataThe fund is managed by Alan Wicks, Jonathan Popper, Conrad Dabiet, Howard Greene, Jeffrey Given and Konstantin Kizunov of Manulife Asset Management Limited and Manulife Asset Management (US) LLC.
Saliba added: "We are thrilled to extend the approach of our Manulife Monthly High Income Fund to the U.S. equity and fixed income markets through the new Manulife U.S. Monthly High Income Fund. Alan Wicks and the team are experienced not only managing equity income strategies, but also investing in the U.S. We are combining this expertise with that of Howard Greene, Jeffrey Given and Konstantin Kizunov on the fixed income side. These fixed income managers have demonstrated an ability to generate strong performance throughout market cycles."
The Manulife US Dividend Class seeks to provide long-term capital appreciation by investing primarily in a portfolio of US dividend paying stocks and other equity securities. It is managed by Walter McCormick and Sandy Sanders of Manulife Asset Management (US) LLC.
The Manulife US Dividend Registered Fund seeks to provide long-term capital appreciation by investing primarily in a portfolio of US dividend paying stocks and other equity securities. This fund is offered only to certain registered plans with qualified planholders.
Unlike some other Canadian mutual funds that are generally subject to a 15% US withholding tax on dividends received from US companies, the Manulife US Dividend Registered Fund aims to qualify for an exemption from this tax. The fund is managed by Walter McCormick and Sandy Sanders of Manulife Asset Management (US) LLC.
The Manulife US Dollar US All Cap Equity Fund seeks to provide long-term capital appreciation in US dollars by investing primarily in equity securities of US companies of all sizes. This US dollar denominated fund is modeled after the Manulife US All Cap Equity Fund with a similar investment objective and strategy.
The fund is managed by Sandy Sanders and Walter McCormick of Manulife Asset Management (US) LLC. With the launch of the Manulife US Dollar US All Cap Equity Fund, the US dollar purchase option of the Manulife US All Cap Equity Fund has been closed to new purchases (buys and switch-ins) effective December 20, 2013.
The Manulife US Dollar Strategic Balanced Yield Fund seeks to provide a combination of income and capital appreciation in US dollars by investing primarily in a diversified portfolio of dividend paying equity securities and fixed income securities.
This US dollar denominated fund is modeled after the Manulife Strategic Balanced Yield Fund with a similar investment objective and strategy. The fund is managed by a team of experienced US equity portfolio managers and global multi-sector fixed income managers from Manulife Asset Management (US) LLC and Manulife Asset Management (Hong Kong) Limited.
With the launch of the Manulife US Dollar Strategic Balanced Yield Fund, the US dollar purchase option of the Manulife Strategic Balanced Yield Fund has been closed to new purchases (buys and switch-ins) effective December 20, 2013.
Available Series
With the exception of the Manulife US Dividend Registered Fund, the new funds are offered for sale in Advisor Series, Series F, Series FT, Series I, Series IT and Series T securities. The Manulife US Dividend Registered Fund is offered for sale in Advisor Series, Series F and Series I securities only.
The Manulife US Monthly High Income Fund, the Manulife US Dividend Class and the Manulife US Dividend Registered Fund may be purchased in both Canadian and US dollars, while the Manulife US Dollar US All Cap Equity Fund and the Manulife US Dollar Strategic Balanced Yield Fund may only be purchased in US dollars.
