Fund’s performance outweighs the loss of tax advantages created through the use of forward contracts, manager says
The eleven mutual funds and pools are in addition to a Manulife fund closed earlier this month
The two funds are expected to provide tax-efficient exposure to their underlying portfolios until 2017
Temporary measure follows budget crackdown on character conversion transactions
Decision follows 2013 budget announcement
Decision taken in response to the federal government's proposed changes to “character conversion transactions”
Many firms have already capped their sales of “character conversion” funds
Fund’s tax-advantaged distributions will end as a result of government’s clampdown on “character conversion transactions”
Decision follows 2013 budget crackdown on character conversion transactions
Closings in response to proposed rule changes for “character-conversion transactions”