Manulife Mutual Funds, a division of Canada-based investment management company Elliott & Page, has added the Manulife Dollar-Cost Averaging Fund, a new dollar-cost averaging fund, to its current lineup of mutual funds.
Now available, the Manulife Dollar-Cost Averaging Fund provides investors with a systematic means of investing in the financial markets over time and can provide a competitive rate of return equivalent to the interest rate offered by the Manulife Bank Investment Savings Account, said Manulife Mutual.
The company added that the fund is ideally suited for investors looking for opportunities in the markets yet are unsure when to invest.
The Manulife Dollar-Cost Averaging Fund will initially provide an investment return of 3.5% (annualised) until March 31, 2009. After this date, the return is expected to be equivalent to the rate of interest offered by the Manulife Bank Investment Savings Account.
Jeff Ray, assistant vice president of Manulife Mutual Funds, said: Current market conditions make the introduction of a dollar-cost averaging fund an ideal solution for investors who are unsure about the best time to invest. The Manulife Dollar-Cost Averaging Fund provides investors with a hands-off approach to gradually transition back into the markets while enjoying a highly competitive rate of return on monies allocated for future investment.
