MANULIFE LAUNCHES NEW FUND
By Adnews Staff
Manulife Financial of Toronto is set to release a series of funds that combine the security of a GIC with the higher returns associated with a mutual fund. Called Guaranteed Investment Funds, the new products will give investors a 100% deposit guarantee, the freedom to lock in investment growth twice a year and maximum global diversification within an RRSP. There will be 16 funds, each of which will hold units in one of Canada's biggest mutual funds. The performance of the GIF will hinge on the success of the underlying mutual fund. Because Manulife will charge investors a fee for the deposit guarantee, the GIFs will not perform as well as the mutual funds if they are increasing in value. The products will be available in January from a network of financial advisors, insurance agents, mutual fund dealers and stock brokers across the country. They will be backed by a national print campaign prepared by Manulife's agency of record, SMW Advertising Ltd. of Toronto. Manulife broke with a century-old tradition of near nonexistent advertising in September when it kicked off a major consumer advertising campaign in Canada and the U.S. The campaign, which uses TV, newspaper and consumer magazine ads, was launched after research showed that although the company was one of the largest insurers in Canada, it ranked only 18th in Canadian consumer recognition