Manulife Investments announced Thursday the addition of five new guaranteed investment funds to its roster of GIF and GIF encore segregated funds.
Among the new funds is Manulife Dollar-Cost Averaging Advantage GIF, available for new deposits until December 31, 2003.
In a statement, Manulife said the fund provides a cash-balance return that is equivalent to the rate offered by the Manulife Bank Advantage Account — a variable rate, interest-bearing bank account currently paying a rate of return of 2.8% (as of July 16, 2003).
Combining these rates with a dollar-cost averaging strategy allows investors to generate high, steady returns on their fund balances, while easing their way at regular intervals into GIF or GIF encore funds of their choice.
To duplicate investment returns offered through the Advantage Account, the GIF’s management expense ratio will be waived, allowing clients to earn higher returns than available through a typical money market or cash-based fund.
“We think this in an excellent opportunity for investors currently looking for the opportunity to ease into the markets,” said Roy Firth, senior vice president of individual wealth management, Manulife Financial
The four other funds launched Thursday are:
- Manulife MIX Global Value Class GIF;
- Manulife MIX US Large Cap Value Class GIF;
- Manulife Renaissance Canadian Core Value GIF; and
- Manulife Talvest Canadian Equity Growth GIF.
The new funds are available through Manulife Financial’s broad national advisor network.