Manulife USA Adds Popular American Funds to its 401k Product Line-up
Advisors get 5 American Funds portfolios to offer clients
BOSTON, MA, June 12, 2003 -- In addition to recent enhancements to its Manufacturers Investment Trust (MIT), which provides the underlying investment options available in Manulife USA's Venture Annuities, Venture Variable Life Insurance products, and the Venture Series 401k and Pension products1, Manulife USA has announced the addition of five funds from American Funds, the nation's third-largest mutual fund family with over $350 billion in assets under management and over 20 million shareholder accounts as of December 31, 2002, to its fund line-up for qualified retirement plans.
The Manulife and Venture Series, available exclusively under a group annuity contract with Manulife USA, offers qualified retirement plans a wide selection of funds managed by industry leaders. "We are extremely pleased to be one of a handful of leading retirement services providers to be able to offer plan sponsors access to American Funds investment management," said Kendall Kay, Chief Strategy Officer for U.S. Group Pensions. "As the largest seller of 401k plans among banks, insurance companies, mutual fund companies and brokerage firms in the U.S. market,2 the addition of American Funds portfolios will make our products even more appealing in the small and mid-sized plan market. They will also help us reach independent advisors who recognize the value that American Funds investment management can offer their clients."
Manulife USA makes 401k products available to small and mid-sized businesses through their local advisors and Third-Party Administrators. The new American Fund additions will complement existing investment alternatives for plan sponsors and offer even more depth in various asset management style categories. Manulife USA periodically reviews the funds made available to qualified plans with the goal of providing funds that allow plan participants the ability to create well-diversified accounts that can help them achieve their long-term retirement goals. Plan sponsors will now be able to offer their participants sub-accounts that invest in over 120 funds available through Manulife USA, including the following funds from American Funds (R3 class shares):
- American Funds EuroPacific Growth Fund
- American Funds Growth Fund of America
- American Funds Investment Company of America
- American Funds Washington Mutual Investors Fund
- American Funds American Balanced Fund
About Manulife
The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality life insurance, pension, and individual wealth management products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive risk-adjusted returns and broad diversification across asset classes, investment styles, and asset managers. With its extensive product lines, competitive underwriting, excellent ratings, and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients. Group annuity contracts are issued by Manulife USA. Product features and availability may differ by state. In New York, products are issued by The Manufacturers Life Insurance Company of New York (Manulife New York).
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