Manulife Mutual Funds has launched a new Simplicity Income Portfolio.

Simplicity is a strategic asset allocation program offered both in mutual funds and segregated funds designed to help individuals achieve their financial goals while remaining aligned with their tolerance for risk. Assets in these portfolios have grown to more than $2.3 billion as of Oct. 31, 2005.

Simplicity portfolios are constructed to address key investor needs, including: access to third-party, best-in-class asset managers; unbiased selection and ongoing monitoring of those asset managers; and comprehensive yet easy-to-understand quarterly reporting.

The new income portfolio brings together some of the most respected money managers in the industry to provide investors with a portfolio that combines Canadian government and corporate bonds, income trusts, dividend paying stocks and global bonds.

“The Simplicity Income Portfolio is a powerful solution because it directly addresses investors’ growing demand for income-producing investments, yet provides ongoing potential for growth as well”, said Doug Conick, vp, investment funds, in a release.

As with all Simplicity Portfolios, the income portfolio will be available in a segregated fund version, allowing investors to benefit from valuable protection benefits and estate planning options.

Simplicity Income Portfolio will be made available in Maritime contracts in January 2006.

As part of the amendment and restatement of the prospectus, Manulife Investments also introduced the Elliott & Page Strategic Income Fund. This global bond fund brings the asset management expertise of John Hancock Advisers to the Canadian retail mutual fund market and offers investors a unique approach to global fixed income management and access to a well diversified portfolio of U.S., Canadian and foreign bonds. This fund is available as a stand-alone fund, but is also included as a component of the Simplicity Income Portfolio.