Manulife Mutual Funds is rolling out three new index funds, Manulife said Tuesday.

The investment objective of the funds is to closely track the performance of the publicly traded securities in their respective markets.

Manulife Canadian Equity Index Fund tracks the S&P/TSX composite index.

Manulife U.S. Equity Index Fund tracks the S&P 500.

Manulife International Equity Index Fund tracks the
MSCI EAFE index.

Managed by MFC Global Investment Management (Canada), the funds will be incorporated into the Simplicity asset allocation program with no immediate plans to offer them as stand-alone mutual funds.

The index funds will add a passive management element to the portfolios, which is complementary to the actively managed multi-style funds in the program, Manulife says.

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