Manulife Mutual Funds plans to change its low load sales charge purchase option, appoint a sub-advisor on its Simplicity managed portfolios, and increase the number of funds with U.S. dollar purchase options, Manulife Financial Corp. (TSX:MFC) said Friday.

The proposed changes are subject to any required regulatory approval.

Low-load sales charge purchase option to change in 2011

Effective January 5, new purchases of Manulife Mutual Funds using the low-load sales charge purchase option will change.

The current low-load sales charge option is: year 1, 3%; year 2, 3%; and year 3 and beyond, 0%. Under the new schedule this changes to: year 1, 3%, year 2, 3%, year 3, 3%; and year 4 and beyond, 0%.

Under the new redemption schedule, all low-load purchases made by investors on or after January 5, can be redeemed after three years at no charge. Under the current schedule purchases could be redeemed after two years at no charge.

Sub-advisor appointment for Manulife Simplicity Portfolios

Effective December 1, MFC Global Investment Management (Canada), a division of Manulife Asset Management Limited and the portfolio advisor of the funds, will be retaining the services of MFC Global Investment Management (U.S.), LLC to act as a portfolio sub-advisor of the following portfolios: Manulife Simplicity Conservative Portfolio; Manulife Simplicity Moderate Portfolio; Manulife Simplicity Income Portfolio; Manulife Simplicity Balanced Portfolio; Manulife Simplicity Global Balanced Portfolio; Manulife Simplicity Growth Portfolio; and Manulife Simplicity Aggressive Portfolio.

MFC Global Investment Management (U.S.), LLC has an average of 26 years of experience, and currently oversees over US$70 Billion in asset allocation mandates.

Additions to line-up of funds with U.S. dollar purchase option

Effective January 26, Manulife will enhance its line-up of funds that offer investors a U.S. dollar purchase option. The table of changes can be viewed here.

IE