Manulife Mutual Funds has received the required approvals from securityholders and regulators to proceed with three trust fund mergers and two corporate class mergers.
The mergers are expected to occur at the close of business on November 4.
“These fund mergers create a stronger and more focused product offering from Manulife Mutual Funds,” says Jeff Ray, assistant vice president, Manulife Mutual Funds and structured [roducts. “We expect the mergers will, over time, lower the cost of fund administration for investors by spreading operating costs and expenses across a greater pool of assets.”
The proposed mergers were originally announced on August 16, following the approval of the Independent Review Committee of Manulife Mutual Funds. Certain mergers also required the approval of a majority of securityholders in the Funds by proxy or in person at a special meeting that was held on Wednesday, October 19.
Tax-Deferred Trust Fund Mergers
For the trust fund mergers, Manulife Mutual Funds has received all approvals, including approval from securityholders of Manulife Canadian Focused Fund, Manulife Global Monthly Income Fund and Manulife U.S. Mid-Cap Fund.
| Terminating Fund | Continuing Fund |
| Manulife Diversified Canada Fund | Manulife Canadian Focused Fund |
| Manulife Canadian Balanced Growth Fund | Manulife Value Balanced Fund |
| Manulife Global Monthly Income Fund |
Manulife Diversified Income Portfolio |
| Manulife U.S. Mid-Cap Fund | Manulife U.S. All Cap Equity Fund |
Tax-Deferred Corporate Class Mergers
Manulife Mutual Funds has received all approvals, including approval from securityholders of Manulife Canadian Focused Class, Manulife Global Leaders Class and Manulife Global Opportunities Class.
| Terminating Fund | Continuing Fund |
| Manulife Diversified Canada Class | Manulife Canadian Focused Class |
| Manulife Global Leaders Class | Manulife Global Opportunities Class |