Manulife Mutual Funds has launched a new fund designed to help investors achieve higher yields in the current low interest rate environment.

The Manulife Yield Opportunities Fund will invest in a diversified portfolio of yield-oriented Canadian and global fixed-income and equity securities, aiming to generate income and long-term capital growth.

“We are continuously enhancing our investment line-up to ensure it provides the most competitive access to opportunities as they arise in the marketplace,” said Jeff Ray, assistant vice president of mutual fund products.

The fund will provide a targeted monthly distribution of $0.05 cents per unit – an initial distribution yield of approximately 6%.

Terry Carr, vice president and managing director of fixed income for MFC Global Investment Management is lead manager of the fund, responsible for overall asset allocation and the fund’s fixed income component.

Co-manager Alan Wicks, vice president and senior portfolio manager of MFC Global Investment Management is responsible for the equity component.

The managers have more than 40 years of combined industry experience and were both recognized at the 2009 Lipper Fund Awards for consistently strong risk-adjusted returns for the Manulife Structured Bond Class (5 years) and Manulife Monthly High Income Fund (10 years).

The mandate is available in two versions. The Manulife Yield Opportunities Fund (trust version) is ideally suited for investors seeking regular income distributions, while the Manulife Yield Opportunities Class (corporate class version) is designed for investors who are looking to minimize taxable income outside of their registered plans.

IE