BRIEF-Manulife US Regional Bank Trust says class A units of fund were under-hedged from Mar 3 to June 6

Wed Jul 6, 2016 5:42pm EDT
 
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July 6 (Reuters) - Manulife U.S. Regional Bank Trust

* Manulife asset management (us) llc intended to hedge almost all class a units in non-canadian currencies to canadian dollar

* Class a units' daily net asset values were subsequently recalculated attributing a hedge ratio of 100%

* During reimbursement period navs were understated,maximum difference being $0.126 on reported nav of $9.73

* Class a units of fund were under-hedged during period from march 3, 2016 to june 6, 2016

* Due to a processing error, class a units were hedged between 70% to 93% during above mentioned period

* Was determined that cumulative loss to units over reimbursement period was approximately 1.1% of nav per unit

* Manulife asset management limited will reimburse any investor who sold their class a units between march 3 to july 6 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)