Manulife Investments overhauls mutual fund lineup

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By The IJ Staff | Jan. 16, 2018, 1:30 p.m.

Manulife Investments announced on Jan. 15 numerous proposed changes to its mutual fund platform.

Among the changes, which are subject to regulatory and securityholder approvals, Manulife Investments is proposing to merge several funds; re-open a closed fund and change the names of a number of funds.

Single Canadian growth team

In addition, Manulife Asset Management announced changes to its Canadian Small Cap Equity team. It is merging its Canadian Small Cap Equity team with its Canadian Large Cap Growth team to form a single Canadian Growth team.

Shauna Sexsmith, Senior Managing Director and Senior Portfolio Manager, will lead the combined Canadian Growth team. Luciano Orengo, co-portfolio manager on Manulife Asset Management's Canadian Small Cap strategies, will now become lead manager, replacing Ted Whitehead as head of the Canadian Small Cap strategies. Whitehead is leaving the company effective Feb. 28.

U.S. Dividend Income Fund reopens to investors

The company also announced that Manulife U.S. Dividend Income Fund will be re-opened to new investors on or about Jan. 31. It was capped to new investors on Jan. 25, 2016 as part of a business decision related to the integration with Standard Life.

"We are focused on delivering value for our clients," said Bernard Letendre, Head of Wealth and Asset Management, Canada and President & CEO, Manulife Investments. "These changes simplify our product offering to provide both our clients and advisors with a more streamlined platform of high quality funds."

Manulife Investments is proposing to merge the following funds on or about the close of business on April 20, 2018:

Terminating Fund	Continuing Fund
Manulife Asia Total Return Bond Fund	Manulife Global Tactical Credit Fund
Manulife U.S. Dollar Floating Rate Income Fund	Manulife U.S. Dollar Strategic Income Fund
Manulife Canadian Opportunities Balanced Class	Manulife Canadian Monthly Income Class
Manulife Canadian Dividend Growth Class	Manulife Canadian Dividend Income Class
Manulife Preferred Income Class	Manulife Dividend Income Class
Manulife Canadian Opportunities Class	Manulife Canadian Stock Class
Manulife U.S. Dividend Income Registered Fund	Manulife U.S. Dividend Income Fund

The company is also proposing to merge the following funds on or about the close of business on May 25, 2018:

Terminating Fund	Continuing Fund
Manulife Money Fund	Manulife Money Market Private Trust
Manulife Short Term Bond Fund	Manulife Money Market Private Trust
Manulife Canadian Corporate Bond Fund	Manulife Canadian Bond Plus Fund
Manulife High Yield Bond Fund	Manulife U.S. Tactical Credit Fund
Manulife Emerging Markets Debt Fund	Manulife Global Tactical Credit Fund
Manulife Canadian Opportunities Balanced Fund	Manulife Canadian Monthly Income Fund
Manulife Tactical Income Fund	Manulife Canadian Monthly Income Class
Manulife Unhedged U.S. Monthly High Income Fund	Manulife U.S. Monthly High Income Fund
Manulife Conservative Income Fund	Manulife Yield Opportunities Fund
Manulife Canadian Opportunities Fund	Manulife Canadian Stock Fund
Manulife U.S. Dividend Income Class	Manulife U.S. Dividend Income Fund
Manulife Emerging Markets Class	Manulife Emerging Markets Fund
Manulife U.S. Fixed Income Private Trust	Manulife Global Fixed Income Private Trust

Manulife Investments also announced that the following fund name changes effective on or about April 6, 2018:

Current Fund Name		New Fund Name
Manulife Money Market Private Trust*		Manulife Money Market Fund
Manulife Canadian Bond Plus Fund		Manulife Canadian Unconstrained Bond Fund
Manulife U.S. Tactical Credit Fund		Manulife U.S. Unconstrained Bond Fund
Manulife Global Tactical Credit Fund		Manulife Global Unconstrained Bond Fund
Manulife Canadian Monthly Income Fund		Manulife Fundamental Income Fund
Manulife Canadian Monthly Income Class		Manulife Fundamental Income Class
Manulife Canadian Equity Balanced Class		Manulife Fundamental Balanced Class
Manulife Canadian Dividend Income Fund		Manulife Fundamental Dividend Fund
Manulife Canadian Dividend Income Class		Manulife Fundamental Dividend Class
Manulife Canadian Stock Fund		Manulife Fundamental Equity Fund
Manulife Canadian Stock Class		Manulife Fundamental Equity Class
Manulife Canadian Focused Fund		Manulife Dividend Income Plus Fund
Manulife Canadian Focused Class		Manulife Dividend Income Plus Class