Manulife Mutual Funds announced today a number of proposed changes to its family of mutual funds.
Manulife has proposed to merge: Elliott & Page Generation Wave Fund into Elliott & Page Canadian Equity Fund; MIX Trimark Select Canadian Class into MIX Canadian Equity Value Class; and MIX Seamark Total Canadian Equity Class into MIX Canadian Large Cap Core Class.
These changes will be subject to regulatory and securityholder approval at special meetings to be held on May 16. Prior to these meetings, a Management Information Circular and form of Proxy will be mailed to securityholders. If approved, these changes are expected to take place on June 1.
As well, Manulife will be capping the advisor, F and I series of three funds to all new purchases effective April 1, and terminating these same series on October 19.
The funds to be capped are: MIX Elliott & Page U.S. Mid-Cap Class; MIX Seamark Total U.S. Equity Class; and MIX U.S. Large Cap Growth Class.
“We are making these changes as part of our ongoing effort to streamline our family of investment funds. By merging smaller funds with similar mandates, Manulife Mutual Funds will be in a position to generate greater operating efficiencies, achieve greater economies of scale and concentrate resources to better serve the interests of investors,” said Doug Conick, vp, investment funds.
Manulife Mutual Funds is a division of Elliott & Page Limited.