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Manulife Investments launches Manulife Investment eXchange (MIX) Funds Independent advisors can offer tax-deferred switching for mutual funds managed by top asset managers Toronto - Manulife Investments, part of one of Canada’s leading financial services companies, is launching an innovative corporate mutual fund family available through independent financial advisors. Canadian investors can now switch between a broad range of 27 mutual funds managed by some of North America's top investment managers – all without triggering immediate taxable capital gains or losses1. “Investors now can enhance their portfolios by freely moving among equity funds, managed by various top brand name fund managers, without triggering an immediate impact on their taxes,” said Roy Firth, Senior Vice President, Manulife Financial. “Our new Manulife Investment eXchange Funds (MIX Funds) provide one-stop access to a variety of styles, regions and equity capitalizations, all overseen by top-quality asset managers.” “Our national network of independent advisors also gains access to a broad range of North America’s top asset managers, all through one convenient location. It’s a first for the independent advisor.” Funds offered by Manulife Investment Exchange Funds Corp. include a full range of core funds advised by AIM Funds Management Inc., Alliance Bernstein Institutional Investment Management, Bissett Investment Management, Fidelity Investments Canada Limited, Goldman Sachs Asset Management, MFC Global Investment Management, McLean Budden Limited, SEAMARK Asset Management Ltd., Templeton Investment Management, and Wellington Management Company LLP. All selected sub-advisors have undergone extensive reviews through Manulife Financial’s Investment Watch (i-Watch)™ process. i-Watch is Manulife’s proprietary process to ensure funds stay true to their stated objectives, through comprehensive selection, monitoring and review (See separate i-Watch Fact Sheet) One-stop fund switches, deferred tax impact “Manulife Investment’s MIX Funds provide flexibility for investors looking to balance their non-registered equity portfolios across geographies, global market sectors, and now even investment management brands - without immediate tax consequences,” added Bruce Gordon, Executive Vice President and General Manager of Canadian Operations for Manulife Financial. The 27 MIX funds announced today include the following funds [and sub-advisor]: Six global equity funds:
Three international equity funds:
US equity funds:
Canadian equity funds:
For clients looking for a short-term investment with low investment risk, the MIX Short Term Yield Class provides money market returns coupled with the ability to generate capital gains instead of interest income, for improved tax efficiency. “Top management, true diversification and tax-deferred switching are now available all in one package,” said Mr. Firth. “By working with the best fund managers, a broad selection of funds, plus a comprehensive approach to financial planning, our corporate fund family will give investors and advisors far more flexibility.” MIX consolidates both style-specific and manager-specific funds in one convenient investment platform. Style-specific funds adhere closely to a designated investment process and strategy while manager-specific funds – which bear the name of the sub-advisor -- are typically driven by the asset manager’s own investment process. MIX Funds are managed by Manulife Mutual Funds, a division of Elliott & Page Limited. A prospectus for Manulife Investment Exchange Funds Corp. and associated funds has been filed with securities regulatory authorities in each province and territory in Canada. 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 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$139.2 billion as at September 30, 2002. 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. 1 Impacting the extent of the tax deferral, Manulife Investment Exchange Funds Corp. will periodically declare dividends to shareholders, including capital gains realized from the sale of assets due to a transfer of shareholder funds from one class of shares to another as well as normal trading within the funds. Please refer to the prospectus for more details of the tax implications of corporate structures. - 30 - Media contact:Tom Nunn Manulife Financial 519-594-8578 tom_nunn@manulife.com |
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