Manulife Investments said Thursday it is launching a new asset allocation wrap program available in either a mutual fund or segregated fund option.

The Waterloo, Ont. company, part of Manulife Financial Corp., said the new Simplicity portfolios will be available in both segregated and mutual fund versions, allowing advisors comprehensive wealth management solutions for clients.

“Simplicity combines the three most critical and broadly accepted aspects of wealth management,” Roy Firth, executive vice president, Manulife Financial, said in a statement. “Canadian investors, regardless of their risk profile, will benefit from comprehensive diversification, access to best-in-class sub-advisors and a highly disciplined selection and monitoring process.”

The minimum investment is $25,000, for which investors will receive personalized, quarterly reports complete with commentary from fund managers, Manulife said.

The company said Simplicity portfolios include a wide range of funds managed by some of the top fund managers in the business, including AllianceBernstein, Goldman Sachs Asset Management, Howson Tattersall Investment Counsel Ltd., McLean Budden, MFC Global Investment Management, TAL Global Asset Management and Templeton Investment Management.