Manulife Investments today announced that it will give clients and advisors significantly more investment choice in its Guaranteed Minimum Withdrawal Benefit (GMWB) product, IncomePlus.
Effective immediately, Manulife Investments has expanded the fund offering within GIF Select featuring IncomePlus to 35 funds from 26, including five new fund managers: Alan Radlo (through Cambridge Funds from CI Investments); Mawer Investment Management Ltd. (as part of the recently announced exclusive arrangement); RBC Asset Management; Renaissance Investments; and TD Asset Management Inc.
Also in the expanded fund offering will be five fund bundles — packaged investment solutions with an equity investment focus that provides higher equity exposure reducing the need for continuous portfolio monitoring by the advisor or the client. Typically, the fund bundles will maintain an asset mix of approximately 20% fixed income investments and 80% equity funds.
“These changes will make IncomePlus even more competitive in the marketplace,” says Michael Ondercin, assistant vp, segregated funds, Manulife Investments.
“They are an excellent complement to our other popular investment fund options. Not only do we have top fund companies working with us, but the new 80/20 bundle portfolios are well diversified with global and Canadian investment exposure, designed to provide lower overall volatility while enhancing return potential through higher equity allocations.”
Additions to IncomePlus funds include:
- Manulife 80/20 Bundle;
- Manulife CI Cambridge 80/20 Bundle;
- Manulife Fidelity Disciplined Equity 80/20 Bundle;
- Manulife RBC O’Shaughnessy 80/20 Bundle;
- Manulife Renaissance 80/20 Bundle;
- Manulife Mawer Diversified Investment;
- Manulife Fidelity Canadian Balanced;
- Manulife CIBC Monthly Income; and
- Manulife TD Dividend Income.
“The new fund additions will provide our clients with even greater choice and growth potential to provide potentially increasing guaranteed lifetime income,” explains Ondercin. “With $5 billion in deposits in less than 20 months, Canadians have clearly embraced IncomePlus as a way to meet their retirement income needs and we are pleased to expand and improve the fund offerings available.”