Manulife Mutual Funds announced plans on Wednesday to cap the two retail series — Advisor and F-series — of MIX International Growth Class, MIX F.I. International Portfolio Class, MIX U.S. Large Cap Core Class and MIX F.I. Growth America Class funds. All Advisor and F-series units will be capped to all new purchases effective July 10. The funds will be terminated on October 16.

The decision to cap and terminate these funds was made due to the high costs associated with managing smaller funds. This will allow Manulife Mutual Funds to concentrate resources in other mandates to better serve the interests of investors.

“As one of Canada’s leading financial services firms, Manulife provides access to top quality investment funds,” said Doug Conick, vice president of Investment Products for Manulife Financial. “Through regular review of our fund line-up, we are able to ensure that Manulife Mutual Funds offers a strong and efficient product offering that meets the demands of investors and their advisors. With these goals in mind, Manulife Mutual Funds decided to cap and terminate the MIX International Growth Class, MIX F.I. International Portfolio Class, MIX U.S. Large Cap Core Class and MIX F.I. Growth America Class.”

In addition, Manulife Mutual Funds also announced that effective August 24, Bissett Investment Management will no longer act as subadvisor on the MIX Canadian Large Cap Core Class. MFC Global Investment Management will retain sole responsibility for management of the fund. Pat McHugh, who will assume lead manager responsibility, has a proven track record in managing Canadian core assets. “This change will provide MIX investors with access to this top performing manager,” added Conick.