Toronto-based Manulife Mutual Funds, a division of Manulife Asset Management Ltd., capped sales on 11 corporate class funds and pools on Tuesday.

The decision to stop any further investments in the funds is in response to the federal government’s proposed elimination of certain tax advantages found in mutual funds using a derivatives strategy called “character conversion transactions.”

The following eleven funds and pools are closed to further investments:

  • Manulife Corporate Bond Class
  • Manulife Floating Rate Income Class
  • Manulife Strategic Balanced Yield Class
  • Manulife Strategic Income Class
  • Manulife Structured Bond Class
  • Manulife Yield Opportunities Class
  • Manulife Balanced Private Pool
  • Manulife Balanced Income Private Pool
  • Manulife Canadian Fixed Income Private Pool
  • Manulife Corporate Fixed Income Private Pool
  • Manulife Global Fixed Income Private Pool

The organization already closed the Manulife Strategic Income Opportunities Fund (MSO.UN), a closed-end fund, earlier this month.

Manulife Asset Management to close mutual fund