Manulife Mutual Funds, a division of Elliott & Page Limited, has received approval from its Independent Review Committee to undertake a series of fund mergers, as listed below:
- Manulife U.S. Core Fund into Manulife Mawer U.S. Equity Fund
- Manulife AIM Canadian First Class into Manulife Canadian Equity Class
- Manulife F.I. Canadian Disciplined Equity Class into Manulife
Canadian Equity Class
- Manulife Trimark Global Class into Manulife Global Opportunities Class
"We are making these changes as part of our ongoing effort to streamline our family of investment funds. By merging smaller funds with similar mandates, Manulife Mutual Funds will be in a position to generate greater operating efficiencies, achieve greater economies of scale and concentrate resources to better serve the interests of our investors," said Jeff Ray, Assistant Vice President, Mutual Fund Products.
Although no regulatory approvals are necessary to complete any of the mergers, the approval of securityholders of Manulife Mawer U.S. Equity Fund, Manulife Canadian Equity Class and Manulife Global Opportunities Class will be required. Special meetings will therefore be held on or about December 10, 2008 to approve the mergers involving these three funds.
Subject to receipt of all necessary approvals, the mergers are expected to be completed on or about Friday, December 12, 2008. -- www.cnxmarketlink.com
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