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March 22, 2013updated 13 Apr 2017 8:40am

Manulife Strategic Income Opportunities Fund announces tax-advantaged distributions to cease after June distribution

On March 21, 2013, the Government of Canada announced proposed measures which would affect certain tax benefits gained by taxable unitholders of investment funds, such as Manulife Strategic Income Opportunities Fund (the “Fund”), that utilize forward purchase and sale agreements to obtain exposure to an underlying reference portfolio.

By Verdict Staff

The Fund’s forward agreement currently allows unitholders to receive tax-advantaged distributions. Based on its review to date, Manulife Asset Management Limited, the manager of the Fund, has concluded that the tax-advantaged character of distributions received by unitholders will cease on the expiration of the Fund’s forward agreement following the Fund’s distribution for the month of June 2013, which will be made payable to unitholders of record on June 26, 2013 and prior to the Fund’s conversion into an open-ended mutual fund on June 28, 2013.

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