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The proposed changes are designed to eliminate overlap and streamline Manulife's platform for advisors and investors, says the firm.
The firm will waive a portion of its fees for IA Clarington Global Bond Fund, Series F, F5, EF and EF5, effective immediately.
The management fees will be reduced as of December 1.
Both of the new global fixed income funds will be offered in a wide range of load, no-load and fee-based series options.
There are no changes to the investment objectives or strategies of these funds associated with their new risk ratings, says the firm.
The fund will operate independently and is expected to have a maximum size of $75 million.