Manulife Mutual Funds said Tuesday that it is making temporary changes to Manulife Money Fund and Manulife Short Term Yield Class “to respond to low interest rates on money market instruments in Canada and maintain a positive yield for securityholders.”

Effective July 1, Manulife is temporarily reducing the management fees on the Advisor Series of the funds.

On certain series of the funds, Manulife pays dealers a trailer fee from the management fees collected. Trailer fees have been temporarily suspended, effective July 1.

Also effective July 1, the DSC and Low Load options for the funds will be capped to all new purchases, however switches in from other Manulife funds will still be permitted.

“Manulife Mutual Funds may continue to waive fees as required to ensure positive returns for investors,” the company said.

IE