Toronto-based Manulife Mutual Funds (MMF) has launched four new mutual funds.
The four new mutual funds include Manulife Global Balanced Fund, Manulife US Dollar Floating Rate Income Fund, Manulife Canadian Conservative Balanced Fund and Manulife Preferred Income Class Fund.
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The Manulife Global Balanced Fund will be manged by Greg Peterson, director and senior portfolio manager, Jim Hall, CIO and Paul Moroz, deputy CIO, Mawer Investment Management.
The fund follows a bottom-up investment approach for equities combined with global and Canadian fixed income exposure. Fixed income will make up 30% of the fund.
The Manulife U.S. Dollar Floating Rate Income Fund will generate income through investment in short duration, senior bank loans that periodically adjust their income as interest rates rise. Dennis McCafferty, managing director and portfolio manager with Manulife Asset Management will manage the fund.
The Manulife Canadian Conservative Balanced Fund will generate income and capital appreciation through a diversified portfolio of Canadian fixed income and equity securities. This fund has a conservative target asset allocation of 30% equities and 70% fixed income.
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By GlobalDataTerry Carr, senior managing director and head of Canadian fixed income with Manulife Asset Management, will be the lead portfolio manager of the fixed income portion of the fund. Jonathan Popper, managing director and portfolio manager, Alan Wicks, senior managing director and senior portfolio manager and Conrad Dabiet, managing director and portfolio manager with Manulife, will look after the equity side of the new fund.
The Manulife Preferred Income Class fund will invest primarily in preferred shares, royalty and income trusts and fixed income securities of Canadian companies, within the tax deferred corporate class structure. Randy Le Clair, managing director and senior fixed income strategist with Manulife, will manage the fund.
All four new funds and its Manulife World Investment Fund will be offered for sale in Advisor Series, Series F securities, Series FT securities, Series I securities, Series IT securities and Series T securities.
Derek Saliba, head of mutual funds product, said: "We’ve introduced these new mutual funds to strengthen our support for advisors as they strive to meet their clients’ ever evolving investment needs."
