Manulife Investments receives approval for mutual fund mergers

TSX/NYSE/PSE: MFC SEHK:945

TORONTO, Oct. 23, 2014 /CNW/ - Manulife Investments, a division of Manulife Asset Management Limited, announced today the receipt of the required approvals from securityholders to proceed with the previously announced proposed fund mergers. It is currently anticipated that the mergers will be implemented at the close of business on or about October 24, 2014 and on or about November 7, 2014, as detailed below.

For the merger listed below, Manulife Investments has received the following approvals from securityholders to proceed with implementing the merger on or about October 24, 2014 ("October Merger"):

For the mergers listed below, Manulife Investments has received the following approvals from securityholders to proceed with implementing the mergers on or about November 7, 2014 (the "November Mergers"):

Notwithstanding the receipt of the requisite securityholder approval, the November Mergers require the approval of the Canadian securities regulators before such mergers may be effected. Although no assurance can be provided, Manulife Investments expects that such approvals will be received.

Merger Process

In connection with the implementation of the mergers, the terminating fund ceased distribution of new securities at the close of business on July 30, 2014 for the October Mergers and at the close of business on April 9, 2013 for the November Mergers. Securityholders will have the right to redeem the securities of each terminating fund up to the close of business on the effective date of the applicable merger. Following the mergers, systematic withdrawal plans, Income Distribution options, and any other active systematic service, which had been established with respect to a terminating fund will be re-established with respect to the continuing fund unless securityholders advise otherwise. Each terminating fund will be wound up or formally terminated as soon as possible after completion of its merger.

About Manulife Investments

Manulife Investments, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing assets for Canadian investors. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.

About Manulife Asset Management

Manulife Asset Management is the global asset management arm of Manulife, providing comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad range of public and private asset classes, as well as asset allocation solutions. As at June 30, 2014, assets under management for Manulife Asset Management were approximately C$300 billion (US$281 billion).

Additional information about Manulife Asset Management may be found at ManulifeAM.com.

About Manulife

Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife and its subsidiaries were approximately C$637 billion (US$597 billion) as at June 30, 2014. We operate as John Hancock in the U.S. and as Manulife in other parts of the world.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.

SOURCE Manulife Financial Corporation