Manulife Announces Fund ClosuresBy Andrew Rickard | June 11 2014 08:09PM
On June 5, Manulife Mutual Funds announced plans to shut down three of its funds due to limited demand from investors, namely the Manulife Emerging Markets Equity Fund, the Manulife Global Natural Resources Fund, and the Manulife Investment Savings Fund. At the end of business on July 30, 2014, each terminating fund will cease distribution of new securities.
The fund terminations will be effective on or about December 5, 2014. Securityholders will have the right to redeem the securities of each terminating fund up to the close of business on the effective date of the fund termination.
Manulife is encouraging investors in these funds to contact their advisors to discuss their options prior to December 5, 2014. Investors who own one of the terminating funds will receive a written notice outlining the details of the termination.
On the same day, Manulife Mutual Funds announced that it was also closing its Series IT to all new purchases due to limited investor demand. Current Series IT securityholders can continue to hold their units.