Manulife terminating 3 mutual funds

Manulife Mutual Funds, a division of Manulife Asset Management, is terminating its Canadian fixed income fund, Canadian growth fund and Japan class.

The Canadian funds will cease no later than June 13, 2013 and the Japan class will end on or about February 15, 2013.

Manulife Mutual Funds expects the unit holders the Canadian funds to waive their right to receive 180 days’ prior written notice of termination, permitting each of these funds to close on February 15, 2013. They’ll be capped to new purchases, effective December 21, 2012.

Both the fixed income fund and growth offerings serve as underlying funds to certain asset allocation portfolios offered by Manulife, and are not available to retail investors.

They’ll be closed since they’re no longer going to be used in those asset allocation portfolios. In addition, the termination of the Manulife Japan Class is a result of a regular review of our mutual funds.

The company is working to streamline its line-up and ensure it offers strong and efficient products.

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