TORONTO, March 12, 2012 /PRNewswire/ -- Manulife Mutual Funds posted the highest year-over-year growth rate – 87.3 percent – for total fixed income fund assets under management among the top 10 firms reporting to the Investment Funds Institute of Canada (IFIC) as at December 31, 2011. Manulife Mutual Funds' year over year growth rate was more than double that of the next highest major firm; the industry average growth rate for the top 10 firms was 24.2 percent.
Manulife Mutual Funds' fixed income assets under management were $2.6 billion at 2011's year-end, with market share of three percent.
"Over the past few years, Manulife Mutual Funds has continued to gather momentum from a steady stream of new fund launches, awards for investment performance, and strong diversified sales growth, all of which has helped position us as a leading provider of mutual fund solutions for financial advisors and their clients," said Paul Lorentz, President of Manulife Investments. "Advisors have shown very strong support for our yield-oriented fixed income and balanced funds. These make up a core strength of our product line-up as evidenced by strong sales of funds including our trust and corporate class versions of the Manulife Strategic Income Fund, Manulife Yield Opportunities Fund, Manulife Floating Rate Income Fund and Manulife Monthly High Income Fund."
About Manulife Mutual Funds
Manulife Mutual Funds, a division of Manulife Asset Management Limited, builds on 125 years of Manulife Financial's wealth and investment management expertise in managing approximately $17.7 billion as at December 31, 2011 for Canadian investors, through a diverse portfolio of forward-thinking mutual fund products. Our experienced Portfolio Managers offer access to markets in Canada, the United States and around the world, in a range of investment styles to help meet individual needs. Manulife Mutual Funds is part of Manulife Investments, which offers personal wealth management products and services, such as mutual funds, segregated fund contracts, annuities and guaranteed interest contracts. For more information, please visit manulifemutualfunds.ca.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients 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 Financial and its subsidiaries were C$500 billion (US$491 billion) as at December 31, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
C$ unless otherwise stated
SOURCE Manulife Mutual Funds