Manulife Investments announced on Jan. 14 its intention to implement a fund merger of Manulife International Value Equity Fund into Manulife EAFE Equity Fund (formerly Manulife International Focused Fund).

The proposed merger aims to eliminate redundancy and streamline Manulife's platform for advisors and investors, says the company. Both funds are currently sub-advised by Pictet Asset Management.

The proposed merger will be executed on a taxable basis and will require regulatory approval, as well as the approval of the securityholders of the funds.

Manulife Investments is also proposing to change the investment objective of Manulife EAFE Equity Fund to better align with the sub-advisor's usual objective and strategy for similar mandates, says the company. This will require the approval of the Manulife EAFE Equity Fund securityholders.

The required securityholder approvals will be sought at special meetings to be held on or about March 14, 2019. If approved, Manulife proposes to merge the funds on or about April 5.

Subject to the proposed merger taking place, Manulife EAFE Equity Fund will also receive a management fee reduction on Series F and Series FT of 0.08%.