Examples of Manulife Fund in a sentence
Under the terms of the Transfer, the New Manulife Fund will continue to be taxed as if it were a standalone mutual life insurance entity with the New Manulife Fund as its sole business and therefore there are no changes to the taxation basis for the New Manulife Fund.
Manulife Fund may, in its absolute discretion, refuse to act upon any facsimile instructions purportedly given by the account holder or on the account holder’s behalf and may require original written instructions instead.
I have reviewed the terms of both schemes and am satisfied that all protections and other provisions relevant to the future management of the Manulife Fund have been replicated in the Scheme in relation to the New Manulife Fund• The management of the Manulife Fund is governed by Principles and Practices of Financial Management (“PPFM”) for the fund.
In or around March 2009, MiP, MP’s son and Power of Attorney, contacted the Respondent about the guarantee feature of the Manulife Fund.
The Respondent mistakenly advised MP that one of the features of the Manulife Fund was a 100% guarantee at maturity.
Instead of advising MP and MiP of the initial error, the Respondent confirmed that the Manulife Fund had a 100% guarantee at maturity.
At or around that time, the Respondent also recommended the Manulife Fund to six other clients and provided them with the same mistaken information.
I have taken into account that: • The Transfer will not have a material adverse effect on the security of benefits or benefit expectations of transferring CLL policyholders• The management of the Manulife Fund (and the New Manulife Fund post Transfer) is subject to provisions set out in the 1999 Scheme (which itself replicated certain provisions set out in the 1995 Scheme).
I am also satisfied that the Transfer will not have a material adverse effect on the Solvency II Pillar 1 financial position of the New Manulife Fund (relative to the financial position of the Manulife Fund in CLL prior to the Transfer).
In my opinion, in the unlikely event that the New Manulife Fund requires capital support, the SF Main Fund has sufficient financial capacity to provide the required support without adversely affecting the security of the policyholders in the SF Main Fund or 14 Source: SF Chief Actuary Report the sub-funds.