Manulife Investments has announced that it will be reopening its Manulife Monthly High Income Fund and the related Manulife Monthly High Income Class and Manulife Canadian Balanced Private Pool on or about Jan. 2.
The funds were capped to new investors in August 2015 due to capacity. “The portfolio managers consider the funds are no longer at a size that would impact their ability to manage assets in line with their disciplined investment approach,” stated Manulife Investments in an announcement issued Nov. 28.
$9.4B in combined assets under management
"Advisors and investors have been asking us to bring back these Funds ever since they were capped," said Bernard Letendre, president, Manulife Investments. "They remain one of our most popular and successful investment options with approximately $9.4B in combined assets under management."
The Funds will be available in all prospectus qualified series, except Advisor Series of Manulife Monthly High Income Fund. The Funds will also be re-opened in Manulife GIF Select InvestmentPlus and Manulife Private Investment Pools – MPIP Segregated Pools contracts.