(June 27, 2008) Manulife Investments has added a list of underlying mutual funds available under its IncomePlus program, increasing the number of options available from 26 to 35.
The newly added funds included five new managers: Cambridge Funds; Mawer Investment Management; RBC Asset Management; Renaissance investments; and TD Asset Management.
The expanded fund offering will also include five fund suites that will maintain an asset mix of approximately 20% fixed income funds and 80% equity funds.
“These changes will make IncomePlus even more competitive in the marketplace,” says Michael Ondercin, associate vice president of segregated funds at Manulife Investments. “Not only do we have the best fund companies working with us, but the new 80/20 portfolios are well diversified with global and Canadian investment exposure, designed to provide lower overall volatility while increasing return potential through a higher capital allocation.”
The new IncomePlus funds include:
- Manulife 80/20 set
- Manulife CI Cambridge 80/20 kit
- Manulife Fidelity Disciplined Equity 80/20 Package
- Manulife RBC O’Shaughnessy 80/20 set
- Manulife Renaissance 80/20 set
- Manulife Mawer Diversified investments
- Manulife Fidelity Canadian Sustainable
- Manulife CIBC Monthly Income
- Manulife TD Dividend Income
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RBC lowers fees, changes fund composition
(June 27, 2008) RBC Asset Management announced a number of changes to the fund’s composition, including a reduction in management fees, a change in the fund’s name and a change in the rules regarding accounts below the fund’s minimums.
Effective June 27, 2008, management fees will be reduced by 10 basis points for Series F and Series D shares of the RBC Canadian Short-Term Income Fund and RBC Bond Fund.
Additionally, effective June 27, 2008, the RBC Cash Flow Portfolio will be renamed RBC Managed Payout Solution and the RBC Enhanced Cash Flow Portfolio will be renamed RBC Managed Payout Solution – Enhanced. RBC’s tax-managed refund fund has become RBC’s managed withdrawal solution – Enhanced Plus.
The RBC Funds 2008 Simplified Prospectus has been amended to allow the company to transfer assets that fall below minimum investment levels, without notice, from RBC Premium Money Market Fund and RBC Premium $US Money Market Fund to shares of the same series of RBC Canadian Money Market Fund and RBC $US money market fund.
Previously, when the balance in these accounts fell below the required minimum, units of these funds could only be exchanged for cash, without notice.
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Mavrix merges funds, changes name
(June 27, 2008) Mavrix Fund Management merged Mavrix Canada Fund and Mavrix Diversified Fund into Mavrix Income Fund.
The merger was approved by unitholders of both funds at a special meeting of both funds held on June 25, 2008.
On June 27, 2008, Mavrix Income Fund will change its name to Mavrix Balanced Monthly Pay Fund. The Mavrix Balanced Monthly Pay Fund will pay a fixed monthly distribution of $0.075 per unit and will seek to provide a high return on investment by investing primarily in common and preferred stocks that can pay dividends, in addition to bonds and other fixed income securities or producing securities such as selected unit trusts and unit trusts.
(28/06/08)
