Manulife Mutual Funds has added Series T and Series IT to more funds within its mutual fund line-up, to provide investors with tax-efficient monthly cash flow.
The company also added Series FT to all funds that already provide these options. Series FT was designed primarily for investors who have fee-based or wrap accounts.
Overall, more than 75 funds offer the Series T option, which can either be used on its own or as a supplement to traditional fixed-income investments.
Series IT and Series FT offer customizable fee alternatives. Series IT funds, specifically, are available to investors who have invested a minimum of $100,000 in a given fund.
“The need for income generation will only increase over time as investors move into the retirement phase of their lives,” says Jeff Ray, assistant vice president, mutual funds & structured products.
Most of these funds will offer monthly-targeted distributions of 6%, an attractive feature in today’s low interest rate environment.