Manulife Investments is set to launch a new asset allocation program as well as implement a number of fund mergers to simplify its existing offering, subject to regulatory and security holder approvals.

The new program is called the Manulife Asset Allocation Portfolios and its consists of four individual portfolios, which will be launched on or about May 5, 2017.

  1. Manulife Conservative Portfolio;
  2. Manulife Moderate Portfolio;
  3. Manulife Balanced Portfolio; and
  4. Manulife Growth Portfolio.

A preliminary prospectus and annual information form, and Fund Fact documents, have been filed for these funds. They’ll be managed by Manulife Asset Management Limited.

Fund mergers

Manulife Investments is also merging a number of its funds, effective on or about June 2, 2017. The new, proposed streamlined platform is intended to eliminate overlap and confusion for advisors and investors.

Breakdown of proposed mergers

Terminating Fund

Continuing Fund

Manulife Diversified Strategies Fund

Manulife Conservative Portfolio (NEW)

Manulife Diversified Income Portfolio
Manulife Leaders Balanced Income Portfolio
Manulife Portrait Conservative Portfolio

Manulife Moderate Portfolio (NEW)

Manulife Leaders Balanced Growth Portfolio
Manulife Portrait Moderate Portfolio

Manulife Balanced Portfolio (NEW)

Manulife Leaders Opportunities Portfolio
Manulife Portrait Aggressive Portfolio
Manulife Portrait Dividend Growth & Income Portfolio
Manulife Portrait Dividend Growth & Income Portfolio Class
Manulife Portrait Growth Portfolio
Manulife Portrait Growth Portfolio Class

Manulife Growth Portfolio (NEW)

The required security holder approvals will be sought at special meetings, and each proposed merger will be effected on a tax-deferred basis, with the exception of the mergers of Manulife Leaders Opportunities Portfolio, Manulife Portrait Dividend Growth & Income Portfolio Class, and Manulife Portrait Growth Portfolio Class, which will each be executed on a taxable basis.

With respect to the mergers of the Manulife Portrait Conservative Portfolio and Manulife Portrait Moderate Portfolio, the risk rating of each of the terminating fund is low while the risk rating of their respective continuing funds is low-to-medium.

Each terminating fund will be wound-up or terminated soon after completion of its merger.

Fund Capping

All terminating funds will be capped to new purchases and redemptions as of 4pm (EST) on May 30, 2017 for wire orders over FundSERV, and after 4pm (EST) on June 2, 2017 for direct orders to allow for the mergers to be processed. Also, all terminating funds will be capped to switches and transfers over FundSERV after 4pm (EST) on June 1, 2017.