Manulife Investments today launched two new classes of principal protected investments that generate potential returns based on the performance of two Elliot & Page mutual funds.

Bank of Montreal Manulife Investments Protected Deposit Notes are unique investments issued by Bank of Montreal that are linked to the performance of two mutual funds — the Elliott & Page Core Canadian Equity Fund and the Elliott & Page Dividend Fund, managed by Manulife Mutual Funds, a division of Elliott & Page Ltd.

Elliott & Page Dividend Fund is managed by Alan Wicks, vp and senior portfolio manager, MFC Global Investment Management. With over 15 years of investment experience, Wicks leads the Canadian Value Equity team managing value and equity income assets of more than $6.8 billion.

Elliott & Page Core Canadian Equity Fund is managed by Pat McHugh, vp and senior portfolio manager, MFC Global Investment Management. With more than 20 years of investment experience, McHugh leads the Canadian Core Equity team managing more than $635 million in assets.

Total Return Class Deposit Notes provide full principal protection at maturity by Bank of Montreal, while R.O.C. Class Deposit Notes provides investors with 100% principal protection over the term of the deposit note by Bank of Montreal.

Assets invested in the note are initially allocated equally between the two underlying funds. As markets fluctuate, investors may benefit from the notes’ dynamic allocation strategy. This strategy responds to market conditions by increasing exposure to the funds when equity market performance is positive and reducing exposure to the funds and allocating assets to a notional bond portfolio when equity market performance is negative.

“With these two classes of Deposit Notes, people have a choice. They can invest in a tax efficient manner in both types of companies in a single investment with distribution of principal, or they can invest for growth. Plus, they get the security of knowing their original principal is protected.” said Bob Tillmann, vp, marketing and business development at Manulife.

Bank of Montreal Manulife Investments Protected Notes, R.O.C. Class, provide income-oriented investors with monthly distributions in the form of repayments of principal and potential long-term capital growth.

Bank of Montreal Manulife Investments Protected Notes, Total Return Class, Series 1 and Series 2, provide growth-oriented investors with the opportunity to have equity market exposure without placing their principal investment at risk.

Bank of Montreal Manulife Investments Protected Deposit Notes, Total Return Class, Series 1 and 2 and R.O.C. Class, Series 1 are sold by advisors licensed by the Investment Dealers Association of Canada and licensed mutual fund dealers. Series 1 of the Total Return Class are available for purchase until March 16, and Series 2 of the Total Return Class is available for purchase until April 20.

R.O.C. Class, Series 1 is available for purchase until March 16.