Manulife Mutual Funds said Tuesday that it intends to merge several Elliott & Page mutual funds.

E&P T-Bill Fund will be merged into the E&P Money Fund, E&P Global Equity Fund will be merged into the E&P Global Sector Fund, and E&P Equity Fund will be merged into the E&P Blue Chip Fund.

Under the proposed mergers, unitholders of the “terminating” funds will become unitholders of the respective “continuing” funs..

“We are making these changes as part of our ongoing efforts to provide a strong yet streamlined family of investment funds that is as current to the needs of investors and their advisors as possible,” said Eric Grove, vice president, investment funds for Manulife Financial.

The mergers are subject to receiving all necessary regulatory approvals and the approval of affected unitholders at special meetings to be held on May 16.

Prior to the special meetings, additional details of the proposed mergers will be set out in a management information circular, which will be distributed to unitholders.

If approved, the mergers will take effect on or about May 23.

http://www.newswire.ca/releases/March2003/18/c1537.html