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Manulife Financial Corp
Symbol MFC
Shares Issued 1,948,811,715
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ORIGINAL: Manulife Investment Management Reduces Management Fees on Three Mutual Funds

2020-02-27 15:41 ET - News Release

C$ unless otherwise stated
TSX/NYSE/PSE: MFC
SEHK: 945

TORONTO, Feb. 27, 2020 /CNW/ - Manulife Investment Management today announced that it will make the following management fee changes which will be effective on or about March 2, 2020.

Fund Name

Series

Existing
Management Fee

New Management
Fee

Manulife Monthly
High Income Fund

Series B

1.88%

1.70%

Series T

1.88%

1.70%

Series F &
Series FT

0.78%

0.60%

Series I &

Series IT**

0.80%

0.62%

Manulife Monthly
High Income Class

Advisor Series

1.89%

1.70%

Series T

1.88%

1.70%

Series F &

Series FT

0.78%

0.60%

Series I &

Series IT**

0.80%

0.62%

Manulife Yield
Opportunities
Fund

Advisor Series &

Series T

1.78%

1.60%

Series F &
Series FT

0.78%

0.60%

Series I &
Series IT**

0.78%

0.60%

**Capped to new purchases as of August 2, 2016. Changes to Series I exclude institutional classes.

 

It is expected that the reduction in management fees should have a corresponding impact on the management expense ratio of the funds over time.

"We are always looking to deliver value to our customers and advisors," said Bernard Letendre, Head of Wealth and Asset Management, Canada. "Our team regularly reviews our fund lineup with this in mind and I'm pleased to announce that in our most recent review, we identified an opportunity to improve the pricing attractiveness of three of our most popular mutual fund products – The Manulife Monthly High Income Fund, the Manulife Monthly High Income Class and the Manulife Yield Opportunities Fund."

About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than 150 years of financial stewardship to partner with clients across our institutional, retail, and retirement businesses globally. Our specialist approach to money management includes the highly differentiated strategies of our fixed-income, specialized equity, multi-asset solutions, and private markets teams—along with access to specialized, unaffiliated asset managers from around the world through our multimanager model. Our personalized, data-driven approach to retirement is focused on delivering financial wellness in retirement plans of all sizes to help plan participants and members retire with dignity.

Headquartered in Toronto, we operate as Manulife Investment Management throughout the world, with the exception of the United States, where the retail and retirement businesses operate as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates as Manulife. Manulife Investment Management had CAD$879 billion (US$677 billion) in assets under management and administration.*Not all offerings are available in all jurisdictions. For additional information, please visit our website at manulifeinvestmentmgt.com.

* Manulife Financial Corporation financials. Global Wealth and Asset Management AUMA as of December 31, 2019, was CAD$879 billion and includes CAD$198 billion of assets managed on behalf of other segments and CAD$145 billion of assets under administration.

 

About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2019, we had more than 35,000 employees, over 98,000 agents, and thousands of distribution partners, serving almost 30 million customers. As of December 31, 2019, we had $1.2 trillion (US$0.9 trillion) in assets under management and administration, and in the previous 12 months we made $29.7 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

SOURCE Manulife Financial Corporation

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