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Group Investment ReportD E C EM B E R 3 1 , 2 0 0 9

Table of ContentsPAGE

How to Read Fund Descriptions 3

Asset Classes 5

Investment Styles 6

Funds Available

Retirement Date Funds 7

Asset Allocation 17

Guaranteed Interest Accounts and Money Market 23

Fixed Income 27

Balanced 30

Canadian Equity 33

U.S. Equity 39

International/Global Equity 42

i-Watch® 47

3

Fund codeEach fund is named using a unique code. Identify aspecific fund using its fund code when you select orchange funds.

Asset classThe types of investments (such as Canadian Equity,International Equity, Fixed Income) that account for themajority of the fund’s holdings. Funds are colour-coded byasset class.

Please note: Funds classified as “Balanced” hold similarportions of equity and fixed income investments.

Volatility meterThe volatility meter is a scale – ranging from low to high –that illustrates the amount that a fund's value is likely tofluctuate. Fund volatility is based on the standarddeviation of monthly returns over a three-year period.Funds in operation for less than three years are ratedusing the longest time period available. For a fund and

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underlying fund where return history is less than one year,no volatility rating will appear. The current volatility meteruses a 25-point volatility scale.

How the underlying fund is investedThe pie chart shows the types of investments in the

underlying fund and the percentage of the overall

portfolio they represent.

Top holdingsThe individual investments in the underlying fund that

comprise the largest percentage of the overall portfolio.

This is determined using the percentage weighting of the

fund’s net market value.

Primary investment processFund managers use a number of approaches to determine

the asset allocation of a fund and to select the individual

securities it will hold. These are the most common

approaches:

• Fundamental Bottom-up – This approach considers

the investment merits of individual companies. The

sector allocation of a fund managed in this way will be

determined by the individual stocks held in the fund.

• Fundamental Top-down – Managers who use this

approach focus on the economy and financial markets.

Once this broad view – also known as a macro view – is

determined, managers choose individual stocks from

sectors they expect to outperform the market.

• Quantitative – This technique applies complex

mathematical research and statistical models along with

measurement and research to identify attractive

investments.

• Index – An indexed portfolio is constructed to mimic

the performance of a specific market index. This

approach is also known as passive investing.

• Multi-manager – A multi-manager fund is directed by

more than one investment manager and often

combines different investment styles or asset classes.

Equity style and capitalizationThis chart displays the primary equity investment style(such as value or growth) the fund manager uses to selectsecurities as well as the ‘market capitalization’ of securitiesin the fund. Market capitalization is a term used to define

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Volatility meter

Based on 3 year standard deviation of the Fund

Low (1) High (25)

.10

BALANCED Code 5301

Manulife Leith Wheeler Diversified Pooled Fund

International Equity 15.62%

United States Equity 16.03%

Cash 3.97%

Canadian Equity 32.03%

Bond 32.35%

How the underlying fund is invested

Top holdings within the underlying Fund(As at December 31, 2009)

Leith Wheeler International Pool−A 16.04%Canada Housing Trust, 4.55%, December 15, 2012 2.99%Bank of Nova Scotia 2.26%Royal Bank of Canada 2.26%TD Bank 2.23%Province of British Columbia, 6.35%, June 18, 2031 2.20%Saputo Inc. 1.95%Canadian National Railway 1.80%Canada Housing Trust, 2.70%, December 15, 2013 1.76%Talisman Energy 1.72%Gov’t of Canada, 4.00%, June 1, 2017 1.51%Great−West Lifeco 1.51%Toromont Industries 1.29%EnCana Corp. 1.25%Canada Housing Trust, 0.00%, March 15, 2014 1.10%Rogers Communications 1.04%Finning International 1.03%Manulife Financial 1.01%Baytex Energy Trust 0.99%Province of Quebec, 4.50%, December 1, 2019 0.95%Total 46.89%

Primary investment processFundamental, Bottom−up

Equity style and capitalization

Source: Manulife Investment Management Services

Fixed income style


Value Core/Blend Growth

Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading

Note: All rates of return are shown before investment management fees or taxeshave been deducted.

The rate of return is used only to illustrate the effects of the compound growthrate and is not intended to reflect the future values or returns in the Fund.

UNDERLYING FUND −> Leith Wheeler Diversified PoolObjective The Leith Wheeler Diversified Pooled Fund seeks to provide investors with arelatively stable, superior long−term rate of return through a balanced portfolio ofcommon shares and fixed income securities.

Managed by Leith Wheeler Inv Counsel Ltd.

Fund managers Neil Watson

Inception date February 2001 Total assets $341.8 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in October 2003. To provide further historical information, the shaded arearepresents the returns of the underlying fund for the period before the start date of theManulife Fund.

−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Leith Wheeler DiversifiedLeith Wheeler Diversified Pool

16.7

−16.9−0.2

14.611.613.916.7

1.4

* Only full calendar year returns are shown.

Overall past performanceThis graph shows how a $10,000 investment in this fund would have changed in value over time, based on grossreturns.

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Dec01 Dec03 Dec05 Dec07 Dec09

MLI Leith Wheeler DiversifiedBlend: MLI Leith Wheeler DiversifiedLeith Wheeler Diversified Pool

$17,390*

$13,766

* For illustration purposes only. Includes mutual/pooled fund performance as indicated. Actual fund performance couldbe expected to vary.

Annual compound returns (As at December 31, 2009)

This table shows the historical annual compound total return of the Fund compared withthe composite benchmark, as outlined in the Rate of return expectation below.

1−year 2−year 3−year 5−yearSince

inception

Manulifeinception

date

MLI Leith WheelerDiversified

16.70% −1.51% −1.06% 4.38% 6.87% Oct 2003

Blend: MLI Leith WheelerDiversified

15.39% −2.58% −1.04% 3.87% −

Rate of return expectation The fund’s performance is benchmarked against a blend of:

· 35% DEX Universe Bond Index· 30% S&P/TSX Total Return Index · 15% S&P 500 Index ($ Cdn)· 15% MSCI EAFE Index ($ Cdn) · 5% DEX 91 Day T−bill Index

Source: CTVglobemedia Publishing Inc.

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How to read Fund Descriptions

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the total market value of a particular company’soutstanding shares. In the context of an investment fund,this term refers to the size of the companies whose stocksare held in the fund. This term only applies to funds withequity – or stock – holdings.

Fixed Income StyleThis chart shows the different approaches a manager usesto select fixed income holdings within the portfolio.

Underlying fundMarket-based investment options available to group plansare usually fund-on-fund investments which invest inexisting pooled funds or mutual funds. These are knownas the underlying funds. When a contribution is made to aManulife fund, it’s used to purchase units of thecorresponding underlying fund. For example, contributionsto the Manulife Trimark Income Growth Fund purchaseunits of the Trimark Income Growth Fund.

Each Manulife fund may hold a small cash component,and the underlying fund may do the same. A fund-on-fund strategy seeks to produce similar returns to theunderlying fund within the Manulife fund.

ObjectiveThe fund’s primary investment goal(s) as determined bythe fund manager.

Managed byThis names the investment management firm whooversees the fund.

Fund managersThe name of the lead fund manager(s) accountable forinvestment decisions in the underlying fund.

Inception dateThe date the underlying fund was first available forpurchase.

Total assetsThe total market value of all assets invested in theunderlying fund on a specific date.

Historical gross returnsThe performance of the fund over a specified period.Performance histories are shown for illustrative purposes;they are not a guarantee of future performance. Unitvalues fluctuate with the market value of the underlying

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fund’s assets. Gross returns mean the rates of returnbefore investment management fees (IMFs) and Goodsand Services Tax (GST) are deducted.

An individual who invests in the fund earns a net returnafter fees. Management fees vary by firm and by plan.Returns shown here represent results for the Manulifefund and/or its underlying fund.

Year by year returnsThis shows the one-year return of the fund during eachyear illustrated in the accompanying graph.

Overall past performanceThis graph shows how a $10,000 investment in the fundchanged in value over a specified period, and the value ofthat investment at the end of the period. It also comparesthe value of that investment with the value of the sameinvestment in a related, broadly-based index.

IndexA broadly-based market view offered for comparativepurposes. It is not necessarily the fund’s benchmark (anindex a fund is measured against) as the fund’s investmentstyle may differ from the one applied to the benchmark.

Annual compound returnsReturns for a specified period expressed as an annualizedrate.

Manulife inception dateThe first full month the fund was available to ManulifeGroup Savings and Retirement Solutions plans.

Rate of return expectationThe benchmark whose performance the fund managerexpects to meet or exceed over the long term. Investmentsheld in this benchmark are indicative of the investmentsheld in the fund.

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5

Asset Classes

RETIREMENT DATE FUNDS: A fund selected closest to a

preferred retirement date with an asset mix composition

based on the length of time remaining until the preferred

retirement date.

ASSET ALLOCATION: A fund that invests in a diverse

range of asset classes, investor styles and fund

managers with the goal of maximizing expected return

while minimizing volatility for each investor profile.

GUARANTEED INTEREST ACCOUNT: A fund that earns

a fixed interest rate from the date of deposit until the date

of maturity. The interest rate is determined on the date of

deposit and does not change.

MONEY MARKET: A fund that invests in short-term

securities.

FIXED INCOME: A fund that invests in fixed income

securities that pay interest, such as corporate and

government bonds. The interest rate earned is more

commonly referred to as a ‘coupon rate’ and is

expressed as a percentage.

BALANCED: A fund that invests primarily in a combination

of common and preferred stock, bonds and short-term

securities. A typical balanced fund concentrates on capital

preservation and growth while mitigating risk. Global

Balanced funds invest in the same types of securities but

focus on worldwide investment choices.

CANADIAN LARGE CAP EQUITY: A fund that invests

primarily in shares of companies incorporated in Canada.

While the fund may hold some shares of small companies,

it invests primarily in medium-to-large companies listed on

Canadian stock exchanges.

CANADIAN SMALL/MID CAP EQUITY: A fund that

invests primarily in shares of small and medium

companies incorporated in Canada.

U.S. LARGE CAP EQUITY: A fund that invests primarily in

shares of companies incorporated in the U.S. While the

fund may hold some shares of small companies, the fund

invests primarily in medium-to-large companies.

U.S. SMALL/MID CAP EQUITY: A fund that invests

primarily in shares of small and medium companies

incorporated in the U.S.

INTERNATIONAL EQUITY: A fund that invests primarily in

shares of companies incorporated outside North America.

GLOBAL EQUITY: A fund that invests in shares of

companies incorporated in one of the following three

geographic regions – Asia, Europe and the Americas.

Each asset class is represented by a different colour. The fund pages in this Group InvestmentReport and on Manulife’s website are colour-coded to reflect the asset class they represent.

6

ACTIVELY MANAGED FUND: A fund that attempts to

out-perform the applicable benchmark by deviating from the

benchmark weights in securities, sectors, countries and/or

asset classes.

BLEND INVESTMENT STYLE: An investment style that uses

more than one style (e.g. a combination of growth and value

investment styles).

BOTTOM UP: A management style that selects companies

based on their own characteristics, regardless of the industry

or region in which they operate. This is an alternative to the

Top Down investment style, which focuses on an industry or

region then invests in companies in that category.

CORE INVESTMENT STYLE: An investment style that

typically maintains similar industry weights as the relevant

index and tries to add incremental value through security

selection.

GROWTH INVESTMENT STYLE: An investment style that

purchases securities with a greater than average growth

potential. A key characteristic of a growth stock is a high

Price to Earnings (P/E) ratio.

INDEX FUND: A fund in which the investment manager

tries to replicate the performance of the benchmark. This

can be accomplished by purchasing a proportionate weight

of every security in the benchmark, or by purchasing

alternate securities/vehicles to be used as proxies for

securities in the benchmark.

INTEREST RATE ANTICIPATION INVESTMENT STYLE:

An investment style that adjusts the duration of the fixed

income portfolio based on forecasted movements in the

interest rate.

SECTOR ROTATION/TRADING STYLE: An investment style

that purchases securities in industries or sectors expected to

perform well over the forecasted economic environment. As

economic forecasts change, the portfolio’s sector weightings

are adjusted accordingly.

TOP DOWN: An investment style that uses economic analysis

to assist in the asset allocation process.

VALUE INVESTMENT STYLE: An investment style that

purchases securities with market prices cheaper than their

corresponding price from a valuation model. Value securities

typically have assets, cash flows and earnings selling at a

discount relative to the market.

YIELD CURVE FORCASTING INVESTMENT STYLE

(YIELD ENHANCEMENT): An investment style that forecasts

the change in relationship between yield to maturity and

term to maturity and positions the portfolio accordingly.

Investment Styles

7

Retirement Date Funds

Manulife’s Retirement Date Funds (asset class Target Date Funds) are a series of nine funds with a

pre-determined maturity or retirement date. Available with dates in five-year intervals (2010 – 2050), this option requires

investors to select a fund closest to their preferred retirement date. The asset mix composition is based on the length of time

remaining until an investor’s expected retirement date.

This means the asset mix of the portfolio – in this instance the proportion of fixed income securities and equities – changes

automatically as the fund approaches its maturity or retirement date. As the equity component of the fund slowly decreases as

the fund approaches its maturity date, the asset mix of the portfolio becomes more conservative.

These funds are well-suited for an investor who does not want to regularly review and rebalance an investment portfolio or

continually check on investment performance.

FUND PAGECODE NUMBER

Manulife Retirement Date 2010 Fund 2010 8









Volatility meter


Low (1) High (25)

.8

TARGET DATE Code 2010

Manulife Retirement Date 2010 Fund

Fixed Income 60.80%

Int’l Equity 11.80%

US Equity 6.90%


How the fund is invested

Target allocationMLI Cdn Bond (MFC) 17.30%MLI Cdn Universe Bond (CIBC) 15.20%MLI Mortgage Backed Fund (MFC) 11.20%MLI Fixed Income Plus (AB) 9.10%MLI Bond (Addenda) 8.00%MLI Cdn Large Cap Value Eq (MFC) 6.80%MLI International Eq (Templeton) 4.90%MLI Canadian Equity Value (SR) 4.10%MLI Cdn Large Cap Growth Eq (MB) 3.90%MLI U.S. Equity (AB) 3.90%MLI World Investment (Mawer) 3.90%MLI Global Equity (CGTC) 3.00%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI U.S. Div Grwth Eq (Wellington) 2.00%MLI U.S. Small−Mid Cap Eq (GSAM) 1.00%MLI Cdn Growth Opportunities (MFC) 0.90%MLI Canadian Small Cap Value (FGP) 0.80%Total 100.00%

Primary investment processMulti−manager



Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Fund is managed to provide a balance between current income andgrowth of capital, with emphasis on income and capital preservation. This fund isdiversified by asset class and investment style with the objective of achieving superiorrisk−adjusted returns. The Fund will commence with approximately 42% in equities,while the remainder will be invested in bonds, mortgages and money marketinvestments. The Fund’s asset mix will decline to approximately 35% in equities in theyear 2010.

Managed by Manulife Financial

Fund managers Various (please refer to target allocation on this page)

Inception date November 2005 Total assets $26.1 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in November 2005.

−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Retirement Date 2010 Fund

15.7

−11.31.3

10.7



$9,000

$10,000

$11,000

$12,000

$13,000


MLI Retirement Date 2010 FundBlend: MLI Retirement Date 2010

$11,900* $12,079





inception

Manulifeinception

date

MLI Retirement Date 2010Fund

15.68% 1.28% 1.29% − 4.27% Nov 2005

Blend: MLI Retirement Date2010

12.83% 1.34% 1.90% − −

Rate of return expectation Over the long term, the Fund attempts to outperform a benchmark portfolio that is comprised of thefollowing:

· 59% DEX Universe Bond Total Return Index· 21% S&P/TSX Total Return Index· 11% MSCI EAFE Total Return Index ($Cdn)· 8% S&P 500 Total Return Index ($Cdn)· 1% DEX 91−Day T−bill Total Return Index


8

Volatility meter


Low (1) High (25)

.9



Fixed Income 51.40%


US Equity 7.80%



Target allocationMLI Cdn Bond (MFC) 14.00%MLI Cdn Universe Bond (CIBC) 12.40%MLI Cdn Large Cap Value Eq (MFC) 9.20%MLI Mortgage Backed Fund (MFC) 8.90%MLI Bond (Addenda) 8.40%MLI Fixed Income Plus (AB) 7.70%MLI International Eq (Templeton) 5.90%MLI World Investment (Mawer) 5.30%MLI Cdn Large Cap Growth Eq (MB) 4.90%MLI U.S. Equity (AB) 4.40%MLI Global Equity (CGTC) 3.40%MLI Canadian Equity Value (SR) 3.10%MLI Canadian Small Cap Value (FGP) 2.70%MLI Cdn Growth Opportunities (MFC) 2.30%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI U.S. Div Grwth Eq (Wellington) 2.00%MLI U.S. Small−Mid Cap Eq (GSAM) 1.40%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Fund is managed to provide a balance between current income andgrowth of capital with emphasis on income and capital preservation. This fund isdiversified by asset class and investment style with the objective of achieving superiorrisk−adjusted returns. The Fund will commence with approximately 53% in equities,while the remainder of the Fund will be invested in bonds, mortgages and money marketinvestments. The Fund’s asset mix will decline to approximately 35% in equities in theyear 2015.





−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


17.8

−15.40.9

12.7



$9,000

$10,000

$11,000

$12,000

$13,000



$11,795* $11,980





inception

Manulifeinception

date


17.79% −0.18% 0.17% − 4.04% Nov 2005


14.51% 0.07% 0.96% − −


· 51% DEX Universe Bond Total Return Index· 26% S&P/TSX Total Return Index· 13% MSCI EAFE Total Return Index ($Cdn)· 9% S&P 500 Total Return Index ($Cdn)· 1% DEX 91−Day T−bill Total Return Index


9

Volatility meter


Low (1) High (25)

.11



US Equity 9.10%



Fixed Income 39.20%


Target allocationMLI Cdn Large Cap Value Eq (MFC) 12.10%MLI Cdn Bond (MFC) 9.80%MLI Bond (Addenda) 8.80%MLI Cdn Universe Bond (CIBC) 8.80%MLI International Eq (Templeton) 7.10%MLI World Investment (Mawer) 7.10%MLI Cdn Large Cap Growth Eq (MB) 6.20%MLI Fixed Income Plus (AB) 5.90%MLI Mortgage Backed Fund (MFC) 5.90%MLI Canadian Small Cap Value (FGP) 5.00%MLI U.S. Equity (AB) 5.00%MLI Cdn Growth Opportunities (MFC) 4.10%MLI Global Equity (CGTC) 4.00%MLI Canadian Equity Value (SR) 2.10%MLI U.S. Div Grwth Eq (Wellington) 2.10%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI U.S. Small−Mid Cap Eq (GSAM) 2.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Fund is managed to provide a balance between current income andgrowth of capital, with emphasis on income and capital preservation. This fund isdiversified by asset class and investment style with the objective of achieving superiorrisk−adjusted returns. The Fund will commence with approximately 66% in equities,while the remainder of the Fund will be invested in fixed income, mortgages and moneymarket investments. The Fund’s asset mix will decline to approximately 35% in equities inthe year 2020.





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0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


21.0

−20.20.414.7



$9,000

$10,000

$11,000

$12,000

$13,000



$11,667* $11,812





inception

Manulifeinception

date


20.98% −1.74% −1.03% − 3.77% Nov 2005


17.27% −1.61% −0.28% − −


· 39% DEX Universe Bond Total Return Index· 34% S&P/TSX Total Return Index· 16% MSCI EAFE Total Return Index ($Cdn)· 11% S&P 500 Total Return Index ($Cdn)


10

Volatility meter


Low (1) High (25)

.13



US Equity 12.10%


Fixed Income 27.40%



Target allocationMLI Cdn Large Cap Value Eq (MFC) 13.20%MLI Cdn Large Cap Growth Eq (MB) 8.50%MLI International Eq (Templeton) 8.30%MLI World Investment (Mawer) 8.30%MLI Cdn Bond (MFC) 7.50%MLI Cdn Universe Bond (CIBC) 6.50%MLI Canadian Small Cap Value (FGP) 5.60%MLI U.S. Equity (AB) 5.60%MLI Bond (Addenda) 5.50%MLI Cdn Growth Opportunities (MFC) 5.30%MLI Fixed Income Plus (AB) 4.10%MLI Global Equity (CGTC) 4.00%MLI U.S. Div Grwth Eq (Wellington) 3.90%MLI Mortgage Backed Fund (MFC) 3.80%MLI Canadian Equity Value (SR) 3.30%MLI U.S. Small−Mid Cap Eq (GSAM) 2.60%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Fund is managed to provide a balance between current income andgrowth of capital, with emphasis on growth of capital. This fund is diversified by assetclass and investment style with the objective of achieving superior risk−adjusted returns.The Fund will commence with approximately 77% in equities, while the remainder of theFund will be invested in fixed income, mortgages and money market investments. TheFund’s asset mix will decline to approximately 35% in equity investments in the year2025.





−40%

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0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


23.9

−24.3−0.1

16.9



$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000



$11,570* $11,579





inception

Manulifeinception

date


23.91% −3.15% −2.13% − 3.56% Nov 2005


19.65% −3.36% −1.58% − −


· 41% S&P/TSX Total Return Index· 27% DEX Universe Bond Total Return Index· 18% MSCI EAFE Total Return Index ($Cdn)· 14% S&P 500 Total Return Index ($Cdn)


11

Volatility meter


Low (1) High (25)

.14



US Equity 14.00%

Fixed Income 20.00%




Target allocationMLI Cdn Large Cap Value Eq (MFC) 14.00%MLI Cdn Large Cap Growth Eq (MB) 10.00%MLI International Eq (Templeton) 9.00%MLI World Investment (Mawer) 9.00%MLI Canadian Small Cap Value (FGP) 6.00%MLI Cdn Bond (MFC) 6.00%MLI Cdn Growth Opportunities (MFC) 6.00%MLI U.S. Equity (AB) 6.00%MLI Cdn Universe Bond (CIBC) 5.00%MLI U.S. Div Grwth Eq (Wellington) 5.00%MLI Canadian Equity Value (SR) 4.00%MLI Global Equity (CGTC) 4.00%MLI Bond (Addenda) 3.50%MLI Fixed Income Plus (AB) 3.00%MLI U.S. Small−Mid Cap Eq (GSAM) 3.00%MLI Mortgage Backed Fund (MFC) 2.50%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Fund is managed to provide a balance between current income andgrowth of capital, with emphasis on growth of capital. This fund is diversified by assetclass and investment style with the objective of achieving superior risk−adjusted returns.The Fund will commence with approximately 82% in equity investments, while theremainder of the Fund will be invested in fixed income, mortgages and money marketinvestments. The Fund’s asset mix will decline to approximately 35% in equities in theyear 2030.





−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


25.8

−26.6−0.4

17.0



$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000



$11,387* $11,421





inception

Manulifeinception

date


25.76% −3.90% −2.76% − 3.17% Nov 2005


21.11% −4.29% −2.31% − −


· 45% S&P/TSX Total Return Index· 20% DEX Universe Bond Total Return Index· 20% MSCI EAFE Total Return Index ($Cdn)· 15% S&P 500 Total Return Index ($Cdn)


12

Volatility meter


Low (1) High (25)

.15



US Equity 14.50%

Fixed Income 16.80%




Target allocationMLI Cdn Large Cap Value Eq (MFC) 14.60%MLI Cdn Large Cap Growth Eq (MB) 10.30%MLI International Eq (Templeton) 9.30%MLI World Investment (Mawer) 9.20%MLI Canadian Small Cap Value (FGP) 6.30%MLI Cdn Growth Opportunities (MFC) 6.30%MLI U.S. Equity (AB) 6.10%MLI U.S. Div Grwth Eq (Wellington) 5.20%MLI Cdn Bond (MFC) 5.00%MLI Global Equity (CGTC) 4.30%MLI Canadian Equity Value (SR) 4.20%MLI Cdn Universe Bond (CIBC) 4.20%MLI U.S. Small−Mid Cap Eq (GSAM) 3.20%MLI Bond (Addenda) 3.00%MLI Fixed Income Plus (AB) 2.50%MLI Canadian Equity (Greystone) 2.20%MLI Mortgage Backed Fund (MFC) 2.10%MLI Pure Canadian Equity Grw (MFC) 2.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Fund is managed to provide a balance between current income andgrowth of capital, with emphasis on growth of capital. This fund is diversified by assetclass and investment style with the objective of achieving superior risk−adjusted returns.The Fund will commence with approximately 84% in equities, while the remainder of theFund will be invested in fixed income, mortgages and money market investments. TheFund’s asset mix will gradually decline to approximately 35% in equities in the year 2035.





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0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


26.6

−27.4−0.6

17.7



$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000



$11,376* $11,357





inception

Manulifeinception

date


26.58% −4.15% −2.99% − 3.14% Nov 2005


21.97% −4.67% −2.60% − −


· 48% S&P/TSX Total Return Index· 20% MSCI EAFE Total Return Index ($Cdn)· 17% DEX Universe Bond Total Return Index· 15% S&P 500 Total Return Index ($Cdn)


13

Volatility meter


Low (1) High (25)

.15



US Equity 14.60%

Fixed Income 15.40%




Target allocationMLI Cdn Large Cap Value Eq (MFC) 14.90%MLI Cdn Large Cap Growth Eq (MB) 10.50%MLI International Eq (Templeton) 9.50%MLI World Investment (Mawer) 9.20%MLI Canadian Small Cap Value (FGP) 6.50%MLI Cdn Growth Opportunities (MFC) 6.50%MLI U.S. Equity (AB) 6.20%MLI U.S. Div Grwth Eq (Wellington) 5.20%MLI Cdn Bond (MFC) 4.60%MLI Global Equity (CGTC) 4.50%MLI Canadian Equity Value (SR) 4.20%MLI Cdn Universe Bond (CIBC) 3.90%MLI U.S. Small−Mid Cap Eq (GSAM) 3.20%MLI Bond (Addenda) 2.70%MLI Fixed Income Plus (AB) 2.30%MLI Canadian Equity (Greystone) 2.20%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI Mortgage Backed Fund (MFC) 1.90%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading








−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


27.0

−27.9−0.7

17.6



$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000



$11,324* $11,320





inception

Manulifeinception

date


26.97% −4.33% −3.14% − 3.03% Nov 2005


22.11% −4.88% −2.76% − −


· 48% S&P/TSX Total Return Index· 21% MSCI EAFE Total Return Index ($Cdn)· 16% S&P 500 Total Return Index ($Cdn)· 15% DEX Universe Bond Total Return Index


14

Volatility meter


Low (1) High (25)

.18



Fixed Income 14.40%

US Equity 14.90%




Target allocationMLI Cdn Large Cap Value Eq (MFC) 15.10%MLI Cdn Large Cap Growth Eq (MB) 10.50%MLI International Eq (Templeton) 9.50%MLI World Investment (Mawer) 9.30%MLI Canadian Small Cap Value (FGP) 6.60%MLI Cdn Growth Opportunities (MFC) 6.50%MLI U.S. Equity (AB) 6.30%MLI U.S. Div Grwth Eq (Wellington) 5.30%MLI Global Equity (CGTC) 4.60%MLI Canadian Equity Value (SR) 4.30%MLI Cdn Bond (MFC) 4.30%MLI Cdn Universe Bond (CIBC) 3.60%MLI U.S. Small−Mid Cap Eq (GSAM) 3.30%MLI Bond (Addenda) 2.50%MLI Canadian Equity (Greystone) 2.30%MLI Fixed Income Plus (AB) 2.20%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI Cdn Mortgage (MFC) 1.80%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading






Inception date June 2007 Total assets $24.7 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife fund since itsinception in June 2007.

−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


27.4

−28.1



$6,000

$7,000

$8,000

$9,000

$10,000

Dec07 Dec08 Dec09


$8,548*$8,666





inception

Manulifeinception

date


27.36% −4.32% − − −5.89% Jun 2007


22.16% −5.05% − − −




15

Volatility meter


Low (1) High (25)

.19



Fixed Income 13.40%

US Equity 14.90%




Target allocationMLI Cdn Large Cap Value Eq (MFC) 15.30%MLI Cdn Large Cap Growth Eq (MB) 10.70%MLI International Eq (Templeton) 9.70%MLI World Investment (Mawer) 9.30%MLI Canadian Small Cap Value (FGP) 6.70%MLI Cdn Growth Opportunities (MFC) 6.70%MLI U.S. Equity (AB) 6.30%MLI U.S. Div Grwth Eq (Wellington) 5.30%MLI Global Equity (CGTC) 4.70%MLI Canadian Equity Value (SR) 4.30%MLI Cdn Bond (MFC) 4.00%MLI Cdn Universe Bond (CIBC) 3.40%MLI U.S. Small−Mid Cap Eq (GSAM) 3.30%MLI Bond (Addenda) 2.30%MLI Canadian Equity (Greystone) 2.30%MLI Fixed Income Plus (AB) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI Mortgage Backed Fund (MFC) 1.70%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading







Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife fund since itsinception in June 2007.

−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


27.8

−28.6



$6,000

$7,000

$8,000

$9,000

$10,000

Dec07 Dec08 Dec09


$8,509*$8,635





inception

Manulifeinception

date


27.78% −4.49% − − −6.06% Jun 2007


22.46% −5.18% − − −




16

17

Asset Allocation

Asset Allocation funds are portfolios of underlying funds diversified by fund manager, asset class and investor style. Asset

Allocation funds are designed to make investing convenient. They provide fund participants with a balance of capital growth

and preservation consistent with five investor styles ranging from conservative to aggressive. Asset Allocation funds diversify by

investing in a number of underlying funds so plan members do not need to manage these portfolios.

Manulife offers five actively managed Asset Allocation funds. The actively managed funds strive to out-perform a variety of

benchmark index composites.

The funds are re-balanced periodically to maintain their respective long-term target asset mixes which ensures each fund’s

underlying composition fulfills its objectives.

FUND PAGE

CODE NUMBER

Actively Managed

Manulife Conservative Asset Allocation Fund 2001 18

Manulife Moderate Asset Allocation Fund 2002 19

Manulife Balanced Asset Allocation Fund 2003 20

Manulife Growth Asset Allocation Fund 2004 21

Manulife Aggressive Asset Allocation Fund 2005 22

Volatility meter


Low (1) High (25)

.5

ASSET ALLOCATION Code 2001

Manulife Conservative Asset Allocation Fund

Fixed Income 74.00%

Global Equity 2.00%

US Equity 3.00%

Money Market 6.00%




Target allocationMLI Cdn Bond (MFC) 21.00%MLI Cdn Universe Bond (CIBC) 19.00%MLI Mortgage Backed Fund (MFC) 15.00%MLI Bond (Addenda) 10.00%MLI Fixed Income Plus (AB) 9.00%MLI Cdn Money Market (MFC) 6.00%MLI Cdn Large Cap Value Eq (MFC) 5.00%MLI Cdn Large Cap Growth Eq (MB) 3.00%MLI Canadian Equity Value (SR) 2.00%MLI Global Equity (CGTC) 2.00%MLI U.S. Equity (AB) 2.00%MLI International Eq (Templeton) 1.50%MLI World Investment (Mawer) 1.50%MLI Canadian Equity (Greystone) 1.00%MLI Pure Canadian Equity Grw (MFC) 1.00%MLI U.S. Div Grwth Eq (Wellington) 1.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Manulife Conservative Asset Allocation Fund is managed to provide ahigh level of current income and capital preservation with some consideration given togrowth of capital. This fund is diversified by asset class and investment styles with theobjective of achieving superior risk−adjusted returns over the long term. The Fund willgenerally maintain 80% of its investments in bond funds and 20% in equity funds,though each segment may vary up to 10% from time to time.




Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in February 1999.

−5%

0%

5%

10%

15%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Conservative Asset Allocation

10.9

−4.12.8

7.77.87.39.5

1.1

4.98.1

Only full calendar year returns are shown.


$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

$15,000

$16,000

$17,000

$18,000

Dec99 Dec01 Dec03 Dec05 Dec07 Dec09

MLI Conservative Asset AllocationBlend: MLI Conservative Asset Allocation

$17,115* $16,238





inception

Manulifeinception

date

MLI Conservative AssetAllocation

10.92% 3.15% 3.04% 4.90% 5.47% Feb 1999

Blend: MLI ConservativeAsset Allocation

8.67% 3.13% 3.36% 4.95% −


· 65% DEX Universe Bond Total Return Index· 15% DEX 91−Day T−bill Total Return Index· 12% S&P/TSX Total Return Index· 4% S&P 500 Total Return Index ($Cdn)· 4% MSCI EAFE Total Return Index ($Cdn)


18

Volatility meter


Low (1) High (25)

.7


Manulife Moderate Asset Allocation Fund

Fixed Income 60.00%


US Equity 7.00%


Global Equity 3.00%


Target allocationMLI Cdn Bond (MFC) 17.00%MLI Cdn Universe Bond (CIBC) 15.00%MLI Mortgage Backed Fund (MFC) 11.00%MLI Fixed Income Plus (AB) 9.00%MLI Bond (Addenda) 8.00%MLI Cdn Large Cap Value Eq (MFC) 7.00%MLI International Eq (Templeton) 5.00%MLI Canadian Equity Value (SR) 4.00%MLI Cdn Large Cap Growth Eq (MB) 4.00%MLI U.S. Equity (AB) 4.00%MLI World Investment (Mawer) 4.00%MLI Global Equity (CGTC) 3.00%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI U.S. Div Grwth Eq (Wellington) 2.00%MLI Canadian Small Cap Value (FGP) 1.00%MLI Cdn Growth Opportunities (MFC) 1.00%MLI U.S. Small−Mid Cap Eq (GSAM) 1.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Manulife Moderate Asset Allocation Fund is managed to provide abalance between current income and growth of capital with a greater emphasis onincome and capital preservation. This fund is diversified by asset class and investmentstyles with the objective of achieving superior risk−adjusted returns over the long term.The Fund will generally maintain 60% of its investments in bond funds and 40% in equityfunds, though each segment may vary up to 10% from time to time.





−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Moderate Asset Allocation

14.6

−10.82.1

10.59.78.812.6

−2.23.0

7.5



$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

$15,000

$16,000

$17,000


MLI Moderate Asset AllocationBlend: MLI Moderate Asset Allocation

$16,780*

$15,444





inception

Manulifeinception

date

MLI Moderate AssetAllocation

14.65% 1.11% 1.45% 4.82% 5.52% Feb 1999

Blend: MLI Moderate AssetAllocation

13.47% 1.39% 2.15% 5.19% −


· 60% DEX Universe Bond Total Return Index· 24% S&P/TSX Total Return Index· 8% S&P 500 Total Return Index ($ Cdn)· 8% MSCI EAFE Total Return Index ($ Cdn)


19

Volatility meter


Low (1) High (25)

.11


Manulife Balanced Asset Allocation Fund

US Equity 9.00%


Global Equity 4.00%

Fixed Income 40.00%



Target allocationMLI Cdn Large Cap Value Eq (MFC) 12.00%MLI Cdn Bond (MFC) 10.00%MLI Bond (Addenda) 9.00%MLI Cdn Universe Bond (CIBC) 9.00%MLI International Eq (Templeton) 7.00%MLI World Investment (Mawer) 7.00%MLI Cdn Large Cap Growth Eq (MB) 6.00%MLI Fixed Income Plus (AB) 6.00%MLI Mortgage Backed Fund (MFC) 6.00%MLI Canadian Small Cap Value (FGP) 5.00%MLI U.S. Equity (AB) 5.00%MLI Cdn Growth Opportunities (MFC) 4.00%MLI Global Equity (CGTC) 4.00%MLI Canadian Equity (Greystone) 2.00%MLI Canadian Equity Value (SR) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%MLI U.S. Div Grwth Eq (Wellington) 2.00%MLI U.S. Small−Mid Cap Eq (GSAM) 2.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Manulife Balanced Asset Allocation Fund is managed to provide abalance between growth of capital and current income with a greater emphasis ongrowth of capital. This fund is diversified by asset class and investment styles with theobjective of achieving superior risk−adjusted returns over the long term. The Fund willgenerally maintain 60% of its investments in equity funds and 40% in bond funds,though each segment may vary up to 10% from time to time.



Inception date February 1999 Total assets $2,305.2 million


−20%

−10%

0%

10%

20%

30%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Balanced Asset Allocation

21.8

−18.41.2

13.811.510.215.9

−5.51.98.8



$8,000$9,000

$10,000$11,000$12,000$13,000$14,000$15,000$16,000$17,000$18,000


MLI Balanced Asset AllocationBlend: MLI Balanced Asset Allocation

$17,069*

$14,584





inception

Manulifeinception

date

MLI Balanced AssetAllocation

21.80% −0.33% 0.19% 4.99% 5.92% Feb 1999

Blend: MLI Balanced AssetAllocation

17.57% −1.01% 0.40% 5.01% −


· 40% DEX Universe Bond Total Return Index· 36% S&P/TSX Total Return Index· 12% S&P 500 Total Return Index ($ Cdn)· 12% MSCI EAFE Total Return Index ($ Cdn)


20

Volatility meter


Low (1) High (25)

.14


Manulife Growth Asset Allocation Fund

US Equity 14.00%


Global Equity 4.00%


Fixed Income 20.00%


Target allocationMLI Cdn Large Cap Value Eq (MFC) 14.00%MLI Cdn Large Cap Growth Eq (MB) 10.00%MLI International Eq (Templeton) 9.00%MLI World Investment (Mawer) 9.00%MLI Canadian Small Cap Value (FGP) 6.00%MLI Cdn Bond (MFC) 6.00%MLI Cdn Growth Opportunities (MFC) 6.00%MLI U.S. Equity (AB) 6.00%MLI Cdn Universe Bond (CIBC) 5.00%MLI U.S. Div Grwth Eq (Wellington) 5.00%MLI Canadian Equity Value (SR) 4.00%MLI Global Equity (CGTC) 4.00%MLI Bond (Addenda) 3.50%MLI Fixed Income Plus (AB) 3.00%MLI U.S. Small−Mid Cap Eq (GSAM) 3.00%MLI Mortgage Backed Fund (MFC) 2.50%MLI Canadian Equity (Greystone) 2.00%MLI Pure Canadian Equity Grw (MFC) 2.00%Total 100.00%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



Objective The Manulife Growth Asset Allocation Fund is managed to provide long−term growth of capital with some consideration given to current income. This fund isdiversified by asset class and investment styles with the objective of achieving superiorrisk−adjusted returns over the long term. The Fund will generally maintain 80% of itsinvestments in equity funds and 20% in bond funds though each segment may vary upto 10% from time to time.



Inception date February 1999 Total assets $1,067.5 million


−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Growth Asset Allocation

24.3

−25.50.7

16.713.612.019.9

−8.51.510.5



$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000


MLI Growth Asset AllocationBlend: MLI Growth Asset Allocation

$17,044*

$14,647





inception

Manulifeinception

date

MLI Growth AssetAllocation

24.25% −3.79% −2.30% 4.34% 6.14% Feb 1999

Blend: MLI Growth AssetAllocation

21.71% −3.49% −1.17% 5.12% −


· 48% S&P/TSX Total Return Index· 20% DEX Universe Bond Total Return Index· 16% S&P 500 Total Return Index ($ Cdn)· 16% MSCI EAFE Total Return Index ($ Cdn)


21

Volatility meter


Low (1) High (25)

.18


Manulife Aggressive Asset Allocation Fund


US Equity 17.00%

Global Equity 6.00%



Target allocationMLI Cdn Large Cap Value Eq (MFC) 18.00%

MLI Cdn Large Cap Growth Eq (MB) 12.00%

MLI International Eq (Templeton) 11.00%

MLI World Investment (Mawer) 10.00%

MLI Canadian Small Cap Value (FGP) 8.00%

MLI Cdn Growth Opportunities (MFC) 8.00%

MLI U.S. Equity (AB) 7.00%

MLI Global Equity (CGTC) 6.00%

MLI U.S. Div Grwth Eq (Wellington) 6.00%

MLI Canadian Equity Value (SR) 5.00%

MLI U.S. Small−Mid Cap Eq (GSAM) 4.00%

MLI Canadian Equity (Greystone) 3.00%

MLI Pure Canadian Equity Grw (MFC) 2.00%

Total 100.00%





Large

Medium

Small

All Cap



Objective The Manulife Aggressive Asset Allocation Fund is managed to provide long−term growth of capital with no consideration given to current income. This fund isdiversified by asset class and investment styles with the objective of achieving superiorrisk−adjusted returns over the long term. This fund will generally maintain 100% of itsinvestments in equity funds though each segment may vary up to 10% from time to time.





−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Aggressive Asset Allocation

29.9

−31.90.8

18.916.013.624.3

−11.52.211.6



$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000


MLI Aggressive Asset AllocationBlend: MLI Aggressive Asset Allocation

$17,547*

$14,154





inception

Manulifeinception

date

MLI Aggressive AssetAllocation

29.94% −5.92% −3.72% 4.24% 6.58% Feb 1999

Blend: MLI Aggressive AssetAllocation

25.85% −6.05% −2.99% 4.95% −


· 60% S&P/TSX Total Return Index· 20% S&P 500 Total Return Index ($ Cdn)· 20% MSCI EAFE Total Return Index ($ Cdn)


22

23

Guaranteed Interest Accountsand Money Market

Guaranteed Interest Accounts (GIAs)

Similar to Guaranteed Investment Certificates (GICs) offered by banks and trust companies, these accounts guarantee an

interest rate from the date of contribution until maturity. At maturity, original investments and interest earned will reinvest for

the same term unless you provide Manulife with different instructions.

When contributions are invested in these accounts, they earn the current interest rate at the time of the deposit. That interest

is credited to the account monthly and is compounded annually. Each contribution made to a GIA accumulates for the term

selected at the guaranteed rate in effect on the date Manulife’s head office receives the contribution. The GIA operates on a

compound interest basis which means the guaranteed interest rate applies to both principal and accumulated interest.

Manulife offers GIAs for these terms: 1-year, 3-year, and 5-year.

Money Market Funds

Money Market funds invest in high-quality, short-term fixed income securities. By investing in fixed income securities, these

funds are essentially making a short-term loan to a government or corporation and earning interest on its principal. Money

Market funds are typically managed to maintain liquidity, protect the initial investment and provide a moderate level of income.

These funds are ideal for investors who want to preserve capital, who are saving for the short term or who want to maintain a

cash reserve and are comfortable only with the very lowest levels of volatility.

FUND PAGE

CODE NUMBER

Guaranteed Interest Accounts andMoney Market Funds

Manulife Guaranteed Interest Accounts 1001, 1003, 1005 24

Manulife Canadian Money Market Fund (MFC) 3132 25

Manulife Daily High Interest Fund 3191 26

24

WHAT THESE ACCOUNTS OFFER

• Guaranteed returns when held to maturity• Principal and interest backed by the assets of Manulife Financial• Choice of 1, 3, and 5-year terms

Investment codes respectively (1001, 1003, 1005)

HOW THE GUARANTEED INTEREST ACCOUNT IS PROTECTED

Manulife Financial is a member of Assuris. With Assuris, consumers may be entitled toprotection against the loss of their savings and retirement incomes if a member financialinstitution becomes insolvent. You can call Assuris at 1-866-878-1225 for details aboutmaximum coverage guarantees.

Volatility and risk

These accounts offer good returns and excellent investmentsecurity. Consider these accounts if you are an investor whoneeds guaranteed security for your investment and cancommit to investments for a fixed period of time. There isno volatility associated with the return in this account andthere is minimal risk as this is a guaranteed investmentbacked by the general assets of Manulife Financial.

Manulife Guaranteed Interest Accounts

Codes 1001, 1003, 1005GUARANTEED INTEREST ACCOUNTSVOLATILITY METER

Sources : Manulife Financial

Volatility meter


Low (1) High (25)

.0

MONEY MARKET Code 3132

Manulife Canadian Money Market Fund (MFC)

Cash 89.99%

Bond 10.01%



Gov’t of Canada, 0.00%, November 25, 2010 9.15%

Gov’t of Canada, 0.00%, September 30, 2010 8.49%

Province of Manitoba, 0.83%, September 4, 2012 5.74%

Manulife Bank of Canada, 1.44%, March 15, 2010 5.68%

Gov’t of Canada, 0.55%, August 5, 2010 5.66%

Gov’t of Canada, 0.00%, October 28, 2010 5.66%

Gov’t of Canada, 0.00%, June 10, 2010 4.85%

International Bank for Reconst, 1.12%, January 31,2010

4.26%

Province of Ontario, 1.43%, April 2, 2013 4.26%

CIBC, 0.00%, March 22, 2006 3.55%

Total 57.30%

Fixed income style


RateAnticipation

YieldEnhancement

SectorTrading



UNDERLYING FUND −> MLI Cdn Money Market (MFC)Objective The Manulife Canadian Money Market Fund is managed to achieve aconsistent level of interest income while preserving capital and maintaining liquidity. Thisfund invests primarily in money market securities guaranteed by the Government ofCanada, its provinces or municipalities, corporations and chartered banks.

Managed by MFC Global Investment Management (Canada)

Fund managers Faisal Rahman, CFA and Maralyn Kobayashi

Inception date January 1999 Total assets $699.0 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in July 2002. To provide further historical information, the shaded arearepresents the returns of the underlying fund for the period before the start date of theManulife Fund.

0.0%

2.0%

4.0%

6.0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Canadian Money MarketMLI Cdn Money Market (MFC)

1.3

3.94.6

4.0

2.82.43.02.8

5.25.7



$10,000

$11,000

$12,000

$13,000

$14,000

$15,000


MLI Canadian Money MarketDEX 91 Day Treasury Bill IndexMLI Cdn Money Market (MFC)

$14,180*

$13,808



This table shows the historical annual compound total return of the Fund compared withthe DEX 91 Day Treasury Bill Index.


inception

Manulifeinception

date

MLI Canadian MoneyMarket

1.31% 2.59% 3.24% 3.29% 3.12% Jul 2002

DEX 91 Day Treasury BillIndex

0.62% 1.97% 2.78% 2.98% −

Rate of return expectation The Fund is expected to outperform the DEX 91 Day T−Bills.


25

Volatility meter

Based on 3 year standard deviation of the underlying fund

Low (1) High (25)

.0

MONEY MARKET Code 3191

Manulife Daily High Interest Fund

Cash 100.00%


Top holdings(As at December 31, 2009)

Cash 100.00%

Total 100.00%



Objective The investment objective of the Fund is to provide investors with interestincome by investing in high interest cash accounts. The Fund is expected to provide agross investment return before investment management fees have been deductedequivalent to the return of the Manulife Bank Investment Savings Account (F−Class).


Fund managers Manulife Financial

Inception date October 2007 Total assets $10.5 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in October 2007.

0.0%

1.0%

2.0%

3.0%

4.0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Daily High Interest Fund

1.3

3.4



$10,000

$10,100

$10,200

$10,300

$10,400

$10,500

$10,600

Dec07 Dec08 Dec09

MLI Daily High Interest FundDEX 30 Day Treasury Bill Index

$10,579*

$10,399



This table shows the historical annual compound total return of the Fund compared withthe DEX 30 Day Treasury Bill Index.


inception

Manulifeinception

date

MLI Daily High Interest Fund 1.33% 2.34% − − 2.52% Oct 2007

DEX 30 Day Treasury BillIndex

0.36% 1.46% 2.39% 2.73% −

Rate of return expectation The Fund is expected to outperform the DEX 30 Day T−Bill Total Return Index.

26

27

Fixed Income

Fixed Income funds invest in debt securities issued by corporations, as well as federal, provincial and municipal governments. By

investing in bonds, the fund earns a specified amount of interest based on the coupon rate (interest rate) on the bonds. These

funds are exposed to risks relating to the issuers’ ability to repay the debt at maturity plus changes in interest rates.

Fixed Income funds are appropriate for investors who have less tolerance for volatility and would like to emphasize preservation of

capital.

FUND PAGE

CODE NUMBER

Yield Enhancement

Manulife PH&N Bond Fund 4271 28

Index

Manulife MFC Global Pooled Canadian Bond Index Fund 4191 29

Volatility meter


Low (1) High (25)

.4

FIXED INCOME Code 4271

Manulife PH&N Bond Fund

Corporate Debentures 51.51%

Federal Bonds 14.99%

Other 3.42%

Provincial Bonds 30.08%



Province of Ontario, 7.60%, June 2, 2027 11.73%

Province of Ontario, 4.40%, June 2, 2019 5.66%

Canada Housing Trust, 4.10%, December 15, 2018 4.04%

Canada Housing Trust, 3.15%, June 15, 2014 3.58%

TD Bank, 5.38%, November 1, 2017 3.28%

Morgan Stanley, 4.50%, February 23, 2012 2.86%

Wells Fargo & Co, 5.20%, September 13, 2012 2.01%

Merrill Lynch Capital Trust, 4.50%, January 30, 2012 2.00%

CIBC, 5.00%, September 10, 2012 1.99%

JP Morgan Chase & Co., 3.88%, September 8, 2015 1.97%

Total 39.12%

Fixed income style


RateAnticipation

YieldEnhancement

SectorTrading



UNDERLYING FUND −> PH&N Bond−OObjective The PH&N Bond Fund is managed to provide relatively high yields andstability of capital by investing primarily in a well−diversified portfolio of fixed incomesecurities issued by Canadian governments and corporations.

Managed by Phillips, Hager & North Inv Mgmt

Fund managers Phillips, Hager & North − Mgmt. Team

Inception date November 1970 Total assets $3,094.6 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in January 2003. To provide further historical information, the shaded arearepresents the returns of the underlying fund for the period before the start date of theManulife Fund.

0%

5%

10%

15%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI PH&N BondPH&N Bond−O

10.2

3.83.24.5

7.07.37.49.1

7.2

10.7



$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

$15,000

$16,000

Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09

MLI PH&N BondDEX Universe Bond Total Return IndexPH&N Bond−O

$15,209*

$14,727



This table shows the historical annual compound total return of the Fund compared withthe DEX Universe Bond Total Return Index.


inception

Manulifeinception

date

MLI PH&N Bond 10.22% 6.96% 5.69% 5.71% 6.17% Jan 2003

DEX Universe Bond TotalReturn Index

5.41% 5.91% 5.16% 5.20% −

Rate of return expectation The Fund seeks to outperform the DEX Universe Bond Index by 0.50% per annum over a market cyclebefore management fees.


28

Volatility meter


Low (1) High (25)

.4

FIXED INCOME Code 4191

Manulife MFC Global Pooled Canadian Bond IndexFund

Municipal Bonds 1.69%

Provincial Bonds 23.48%

Corporate Debentures 28.57%

Federal Bonds 46.26%






Canada Housing Trust, 4.05%, March 15, 2011 2.57%



Gov’t of Canada, 2.00%, September 1, 2012 2.06%




Total 23.72%

Primary investment processIndex



UNDERLYING FUND −> MFC Global Pooled Cdn Bond IndexObjective The MFC Global Pooled Canadian Bond Index Fund is managed to provide arate of return based on the performance of the DEX Universe Bond Index. This fund seeksto earn returns that replicate, as closely as possible, the DEX Universe Bond Index. This isa passively managed fund. To achieve its investment objective, the Fund will invest directlyin bonds and may use derivative instruments in order to replicate the securities of the DEXUniverse Bond Index.


Fund managers Terry Carr, CFA, Andrew Gretzinger, CFA and Hosen Marjaee, CFA

Inception date April 1999 Total assets $329.2 million


0%

5%

10%

15%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI MFC Global Pooled Cdn Bond IndxMFC Global Pooled Cdn Bond Index

5.36.33.73.9

6.47.16.89.08.1

10.0



$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000


MLI MFC Global Pooled Cdn Bond IndxDEX Universe Bond Total Return IndexMFC Global Pooled Cdn Bond Index

$18,762* $19,080



This table shows the historical annual compound total return of the Fund compared withthe DEX Universe Bond Total Return Index.


inception

Manulifeinception

date

MLI MFC Global Pooled CdnBond Indx

5.31% 5.81% 5.09% 5.12% 5.96% Oct 2001

DEX Universe Bond TotalReturn Index

5.41% 5.91% 5.16% 5.20% −

Rate of return expectation Over the long term, the Fund is expected to track the performance of the DEX Universe Bond TotalReturn Index.


29

30

Balanced

Balanced funds typically aim to provide investors with a combination of capital growth and income. Balanced funds accomplish

this by investing in a blend of equity and fixed income securities and Global Balanced Funds accomplish this by focusing on

worldwide investment choices. Balanced fund managers typically set a long-term target for the mix of bonds and equities in

the fund and may make moderate changes to the mix to reflect their outlook on which asset class represents the best

opportunity.

Balanced funds are ideal for investors who seek a diversified portfolio with an average level of volatility and who do not want

to manage the mix of asset classes on their own. Balanced funds are appropriate for investors who are looking for a mix of

growth and income over the long term and are comfortable with some short-term volatility in their investment returns.

FUND PAGE

CODE NUMBER

Value

Manulife Leith Wheeler Diversified Pooled Fund 5301 31

Core/Blend

Manulife Fidelity Canadian Asset Allocation 5141 32

Volatility meter


Low (1) High (25)

.10

BALANCED Code 5301

Manulife Leith Wheeler Diversified Pooled Fund



Cash 3.97%


Bond 32.35%



Leith Wheeler International Pool−A 16.04%Canada Housing Trust, 4.55%, December 15, 2012 2.99%Bank of Nova Scotia 2.26%Royal Bank of Canada 2.26%TD Bank 2.23%Province of British Columbia, 6.35%, June 18, 2031 2.20%Saputo Inc. 1.95%Canadian National Railway 1.80%Canada Housing Trust, 2.70%, December 15, 2013 1.76%Talisman Energy 1.72%Gov’t of Canada, 4.00%, June 1, 2017 1.51%Great−West Lifeco 1.51%Toromont Industries 1.29%EnCana Corp. 1.25%Canada Housing Trust, 0.00%, March 15, 2014 1.10%Rogers Communications 1.04%Finning International 1.03%Manulife Financial 1.01%Baytex Energy Trust 0.99%Province of Quebec, 4.50%, December 1, 2019 0.95%Total 46.89%




Fixed income style



Large

Medium

Small

All Cap

RateAnticipation

YieldEnhancement

SectorTrading



UNDERLYING FUND −> Leith Wheeler Diversified PoolObjective The Leith Wheeler Diversified Pooled Fund seeks to provide investors with arelatively stable, superior long−term rate of return through a balanced portfolio ofcommon shares and fixed income securities.

Managed by Leith Wheeler Inv Counsel Ltd.

Fund managers Neil Watson



−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Leith Wheeler DiversifiedLeith Wheeler Diversified Pool

16.7

−16.9−0.2

14.611.613.916.7

1.4



$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000


MLI Leith Wheeler DiversifiedBlend: MLI Leith Wheeler DiversifiedLeith Wheeler Diversified Pool

$17,390*

$13,766





inception

Manulifeinception

date

MLI Leith WheelerDiversified

16.70% −1.51% −1.06% 4.38% 6.87% Oct 2003

Blend: MLI Leith WheelerDiversified

15.39% −2.58% −1.04% 3.87% −

Rate of return expectation The fund’s performance is benchmarked against a blend of:

· 35% DEX Universe Bond Index· 30% S&P/TSX Total Return Index · 15% S&P 500 Index ($ Cdn)· 15% MSCI EAFE Index ($ Cdn)· 5% DEX 91 Day T−bill Index


31

Volatility meter


Low (1) High (25)

.13

BALANCED Code 5141

Manulife Fidelity Canadian Asset Allocation


Other 0.01%


Cash 8.18%


Bond 29.87%



TD Bank 3.77%

Suncor Energy 3.62%

Royal Bank of Canada 3.60%

EnCana Corp. 2.94%

Canadian Natural Resources 2.35%

Manulife Financial 2.21%

Goldcorp Inc. 2.19%

Barrick Gold Corp. 2.11%

Potash Corp. of Saskatchewan 1.93%

Rogers Communications 1.83%

Total 26.55%



UNDERLYING FUND −> Fidelity Canadian Asset Alloc.−AObjective The fund aims to achieve total investment returns by investing in Canadianequity securities, fixed income securities and money market instruments. The fund’sneutral asset allocation is 65% equities, 30% fixed income securities and 5% moneymarket instruments.

Managed by Fidelity Investments Canada ULC

Fund managers Bob Swanson, Brian Miron, Derek Young, Jeffrey Moore, Don Newmanand Daniel Dupont

Inception date December 1994 Total assets $1,861.9 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in March 2009. To provide further historical information, the shaded arearepresents the returns of the underlying fund for the period before the start date of theManulife Fund.

−20%

−10%

0%

10%

20%

30%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Fidelity Canadian Asset Alloc.−A

24.5

−19.45.9

11.714.010.713.8

−5.5−0.95.3



$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000


MLI Fidelity Canadian AABlend: MLI Fidelity Canadian AAFidelity Canadian Asset Alloc.−A

$17,157* $17,342





inception

Manulifeinception

date

MLI Fidelity Canadian AA − − − − 29.71% Mar 2009

Blend: MLI Fidelity CanadianAA

21.39% −2.83% 0.07% 5.25% −

Rate of return expectation Over a rolling four−year basis, the Fund is expected to outperform a benchmark composed of thefollowing:

· 65% S&P/TSX Capped Composite· 30% DEX Universe Bond Index· 5% DEX 91−Day T−Bill Index


32

33

Canadian EquityCanadian Equity funds typically aim to achieve long-term capital growth by investing in a diversified portfolio of shares issuedby Canadian companies. Some Canadian Equity funds invest a portion of their assets in shares of foreign companies. A sharerepresents an ownership stake in a company; therefore, how the Fund performs depends on the success of the companyholdings within the Fund. The Fund’s performance can also be affected by factors such as currency exchange rates andeconomic and political trends.

Canadian Large Cap Equity funds are ideal for investors who have a long-term focus, prefer to invest in Canadian companiesand are generally seeking a lower degree of volatility.

Canadian Small/Mid Cap Equity funds are suitable for investors who have a long-term focus, prefer to invest in Canadiancompanies and are comfortable accepting a higher degree of volatility.


Canadian Large Cap Equity

ValueManulife Scheer Rowlett Canadian Equity Fund 7601 34

Core/BlendManulife Jarislowsky Fraser Canadian Equity Fund 7241 35

GrowthManulife Greystone Canadian Equity Fund 7481 36

IndexManulife MFC Global Pooled Canadian Index Fund 7132 37

Canadian Small/Mid Cap Equity

GrowthManulife MMF Growth Opportunities Fund 7122 38

Volatility meter


Low (1) High (25)

.17

CANADIAN LARGE CAP EQUITY Code 7601

Manulife Scheer Rowlett Canadian Equity Fund

Industrials 5.70%

Other 3.37%

Cash 0.97%

Consumer Discretionary 4.82%

Telecommunication Services 6.49%

Materials 20.14%

Energy 27.51%Financials 31.00%




Bank of Nova Scotia 7.45%

TD Bank 7.40%

Suncor Energy 7.17%


CIBC 5.68%


Agrium 4.90%

Talisman Energy 4.12%

Rogers Communications 3.07%

Total 58.84%





Large

Medium

Small

All Cap



UNDERLYING FUND −> Scheer Rowlett Canadian EquityObjective The Fund seeks to maximize long−term total return while protecting thecapital value of the fund from major market fluctuations.

Managed by Scheer Rowlett & Associates

Fund managers Lloyd Rowlett, Scott Merriman and Rob Dionne

Inception date December 1995 Total assets $714.0 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. To provide further historical information, the shaded area represents thereturns of the underlying fund for the period before the start date of the Manulife Fund.

−10%0%

10%

20%30%40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Scheer Rowlett Canadian EquityScheer Rowlett Canadian Equity

37.8

−8.26.9

19.728.0

15.7

28.9

−7.78.7

22.4



$0

$10,000

$20,000

$30,000

$40,000


MLI Scheer Rowlett Canadian EquityS&P/TSX Total ReturnScheer Rowlett Canadian Equity

$27,349*

$17,254



This table shows the historical annual compound total return of the Fund compared withthe S&P/TSX Total Return.


inception

Manulifeinception

date

MLI Scheer RowlettCanadian Equity

37.84% − − − −10.77% Jun 2008

S&P/TSX Total Return 35.06% −4.88% −0.21% 7.66% −

Rate of return expectation The Fund is expected to outperform the S&P/TSX Composite Total Return Index by 2% over four yearrolling periods.


34

Volatility meter


Low (1) High (25)

.18


Manulife Jarislowsky Fraser Canadian Equity Fund

Cash 1.20%

Consumer Staples 6.90%

Industrials 8.80%

Materials 8.40%


Other 11.60%

Financials 26.00%Energy 27.80%





TD Bank 5.10%

SNC−Lavalin Group 4.80%


EnCana Corp. 4.20%


Nexen Inc. 4.00%

Suncor Energy 4.00%

Thomson Reuters 3.60%

Total 46.80%





Large

Medium

Small

All Cap



UNDERLYING FUND −> JF Canadian EquityObjective Jarislowsky Fraser’s equity style emphasizes buying long−term growth at areasonable price. Internal resources are primarily relied on to generate investment ideas.Each year, the investment professionals contact and interview more than 200 Canadiancompanies. The portfolio focuses on industry leaders with strong balance sheets andcash flow as well as depth and quality at the management level.

Managed by Jarislowsky Fraser Ltd.

Fund managers Jarislowsky Fraser − Mgmt. Team

Inception date April 1997 Total assets $5,685.0 million


−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI JF Canadian EquityJF Canadian Equity

26.4

−23.77.2

14.727.6

20.924.7

−1.95.5

31.5



$0

$10,000

$20,000

$30,000

$40,000


MLI JF Canadian EquityS&P/TSX Total ReturnJF Canadian Equity

$30,840*

$17,254





inception

Manulifeinception

date

MLI JF Canadian Equity 26.45% −1.80% 1.13% 8.64% 11.33% Oct 2001


Rate of return expectation Over the long term, this fund is expected to outperform the S&P/TSX Total Return Index.


35

Volatility meter


Low (1) High (25)

.21


Manulife Greystone Canadian Equity Fund

Other 7.03%

Industrials 5.79%

Cash 1.13%


Information Technology 8.43%

Materials 20.35%






Toronto Dominion Bank 5.22%

Research In Motion 4.38%


Power Corp of Canada 4.32%

Goldcorp Inc. 4.21%


National Bank of Canada 3.65%

Eldorado Gold 3.35%

Total 45.90%





Large

Medium

Small

All Cap



UNDERLYING FUND −> Greystone Canadian EquityObjective The Greystone Canadian Equity Fund seeks superior long−term capitalappreciation by investing in the equity securities of Canadian companies.

Managed by Greystone Managed Investments Inc.

Fund managers Greystone Mgd. Invest. − Mgmt. Team

Inception date March 1996 Total assets $1,136.1 million

Historical gross returnsGross rates of return are before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife fund since itsinception in March 2007. To provide further historical information, the shaded arearepresents the returns of the underlying fund for the period before the start date of theManulife fund.

−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Greystone Canadian EquityGreystone Canadian Equity

27.6

−36.712.9

21.727.616.4

23.1

−6.6−0.3

19.8



$5,000

$10,000

$15,000

$20,000

$25,000

$30,000


MLI Greystone Canadian EquityS&P/TSX Composite IndexGreystone Canadian Equity

$22,394*

$13,960



This table shows the historical annual compound total return of the Fund compared withthe S&P/TSX Composite Index.


inception

Manulifeinception

date

MLI Greystone CanadianEquity

27.63% −10.11% − − −4.97% Mar 2007

S&P/TSX Composite Index 30.69% −7.85% −3.10% 4.90% −

Rate of return expectation The gross rate of return over a full economic cycle is expected to exceed the S&P/TSX CompositeIndex.


36

Volatility meter


Low (1) High (25)

.20


Manulife MFC Global Pooled Canadian Index Fund

Other 5.48%

Telecommunication Services 4.35%

Cash 1.39%


Industrials 5.71%

Materials 19.64%





Suncor Energy 4.57%

TD Bank 4.45%




Research In Motion 2.80%

Potash Corp. of Saskatchewan 2.67%


Bank of Montreal 2.42%

Total 36.28%





Large

Medium

Small

All Cap



UNDERLYING FUND −> MFC Global Pooled Canadian IndexObjective The MFC Global Pooled Canadian Index Fund seeks to track the total returnof the S&P/ TSX Composite Index through investments primarily in common stocks,Income Trusts Royalty trusts, REITS of Canadian issuers which are listed on the S&P/ TSXComposite Index. This is a passively managed fund.


Fund managers Carson Jen and Ram Narayan, CFA


Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in January 1998.

−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI MFC Global Pooled Cdn Index

35.1

−32.610.0

17.524.2

14.526.6

−12.7−12.77.9



$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000


MLI MFC Global Pooled Cdn IndexS&P/TSX Total Return

$17,416* $17,254





inception

Manulifeinception

date

MLI MFC Global Pooled CdnIndex

35.06% −4.59% 0.03% 7.87% 7.14% Jan 1998


Rate of return expectation Over the long term, the Fund is expected to track the performance of the S&P/TSX Total Return Index.


37

Volatility meter


Low (1) High (25)

.>25

CANADIAN SMALL/MID CAP EQUITY Code 7122

Manulife MMF Growth Opportunities Fund

Cash 3.84%


Financials 9.44%

Health Care 5.44%

Industrials 9.19%

Other 13.18%

Energy 24.51%Materials 29.28%



Pacific Rubiales Energy 2.72%

Aecon Group 2.68%

Quadra Mining Ltd. 2.64%

Equinox Minerals Limited 2.58%

Baytex Energy Trust 2.54%

Silver Wheaton 2.39%

PetroBakken Energy 2.32%

Crew Energy Inc 2.29%

Home Capital Group 2.20%

Birchcliff Energy 2.04%

Total 24.40%





Large

Medium

Small

All Cap



UNDERLYING FUND −> Manulife Growth Opportunities FundObjective The MMF Growth Opportunities Fund seeks to provide long−term capitalgrowth by investing primarily in high quality securities and convertible instruments ofsmall and mid−cap Canadian companies.

Managed by Manulife Mutual Funds

Fund managers Ted Whitehead, CFA and Jennifer Dowty, CFA


Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in August 1997. The underlying fund was changed on June 1, 2003 from theElliott & Page Emerging Growth Fund to the Elliott & Page Growth Opportunities Fund.

−50%

0%

50%

100%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI MMF Growth Opportunities

61.8

−38.96.812.822.322.134.1

−2.2−1.7−1.6



$5,000

$10,000

$15,000

$20,000

$25,000

$30,000


MLI MMF Growth OpportunitiesBMO Nesbitt Burns Cdn Small Cap Index

$22,562* $23,849



This table shows the historical annual compound total return of the Fund compared withthe BMO Nesbitt Burns Cdn Small Cap Index.


inception

Manulifeinception

date

MLI MMF GrowthOpportunities

61.83% −0.55% 1.83% 7.82% 7.34% Aug 1997

BMO Nesbitt Burns CdnSmall Cap Index

75.10% −3.31% −1.57% 5.89% −

Rate of return expectation Over the long term, the Fund is expected to outperform the BMO Nesbitt Burns Canadian Small CapIndex.


38

39

U.S. Equity

U.S. Equity funds are a form of foreign equity and invest in shares of U.S. companies.

These types of funds typically aim to achieve long-term capital growth by investing in shares of companies based in the United

States. A share represents an ownership stake in the company; therefore, how the Fund performs depends on the success of the

company holdings within the Fund. The Fund’s performance can also be affected by such factors as currency exchange rates and

economic and political trends.

These funds are ideal for investors who have a long-term focus, want to include U.S. holdings in their portfolios, and are

comfortable with a higher-than-average level of volatility.

U.S. Equity funds can vary greatly depending on such factors as the size and types of companies in which they invest and the

selection criteria used by the fund manager.

FUND PAGE

CODE NUMBER

U.S. Large Cap Equity

GrowthManulife U.S. Diversified Growth Equity Fund (Wellington) 8196 40

IndexManulife MFC Global Pooled U.S. Index Fund 8131 41

Volatility meter


Low (1) High (25)

.14

U.S. LARGE CAP EQUITY Code 8196

Manulife U.S. Diversified Growth Equity Fund(Wellington)

Information Technology 50.58%

Health Care 4.80%

Energy 7.01%

Other 4.60%

Financials 6.20%

Consumer Discretionary 12.82%Industrials 13.99%



Cisco Systems 5.03%

Microsoft 4.76%

Apple 3.98%

Google 3.38%

IBM 3.29%

NetApp 3.12%

Oracle Corp. 2.51%

Caterpillar Inc. 2.40%

QLogic 2.14%

Xilinx Inc. 1.86%

Total 32.47%





Large

Medium

Small

All Cap



UNDERLYING FUND −> MLI U.S. Div Grwth Eq (Wellington)Objective The Portfolio invests primarily in common stock, real estate securities, anddepositary receipts. The objective of the Diversified Growth investment approach is toprovide long−term total return. The Portfolio may hold significant positions in, or asignificant portion of Portfolio assets may be invested in, securities that are not includedin the Index.


Fund managers Wellington Management Co. − Mgmt. Team


Historical gross returnsGross rates of return are shown before investment management fees have beendeducted.

0%

5%

10%

15%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI U.S. Div Growth Eq (Wellington)

18.4



$7,000

$8,000

$9,000

$10,000

$11,000

Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09

MLI U.S. Div Growth Eq (Wellington)Russell 1000 Growth ($ Cdn)

$9,305*$9,543



This table shows the historical annual compound total return of the Fund compared withthe Russell 1000 Growth ($ Cdn).


inception

Manulifeinception

date

MLI U.S. Div Growth Eq(Wellington)

18.45% − − − −4.94% Jun 2008

Russell 1000 Growth ($Cdn)

17.26% −5.41% −5.34% −1.17% −

Rate of return expectation Over the long term, this fund is expected to outperform the Russell 1000 Growth Index ($ Cdn).


40

Volatility meter


Low (1) High (25)

.15

U.S. LARGE CAP EQUITY Code 8131

Manulife MFC Global Pooled U.S. Index Fund

Cash 1.52%

Industrials 10.86%

Energy 11.26%


Health Care 12.20%

Financials 14.89%

Other 18.86%Information Technology 19.22%



Exxon Mobil 3.28%

Microsoft 2.39%

Apple 1.92%

Johnson & Johnson 1.80%

Procter & Gamble 1.79%

IBM 1.74%

AT&T Inc. 1.68%

JP Morgan Chase & Co. 1.66%

General Electric 1.63%

Chevron Corp. 1.56%

Total 19.45%





Large

Medium

Small

All Cap



UNDERLYING FUND −> MFC Glbl Pooled U.S. Equity PassiveObjective The Fund aims to achieve investment results that approximate the totalreturn of the S&P 500 Stock Index. To achieve its investment objective, the Fund willinvest directly in common shares and may use derivative instruments such as futures inorder to replicate the returns of the S&P 500 Stock Index. The Fund may also invest aportion of its funds in cash. This is a passively managed fund.


Fund managers Ram Narayan, CFA and Carson Jen


Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in January 1998.

−30%

−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI MFC Global Pooled U.S. Index

7.6−21.8−10.8

15.4

1.32.94.6−23.2−7.1−6.0



$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000


MLI MFC Global Pooled U.S. IndexS&P 500 Net of 15% Tax

$6,330*$6,667



This table shows the historical annual compound total return of the Fund compared withthe S&P 500 Net of 15% Tax.


inception

Manulifeinception

date

MLI MFC Global Pooled U.S.Index

7.62% −8.27% −9.11% −2.58% 0.14% Jan 1998

S&P 500 Net of 15% Tax 7.70% −6.69% −8.08% −1.90% −

Rate of return expectation Over the long term, the Fund is expected to outperform the S&P 500, net of 15% withholding tax ($Cdn).


41

42

International/Global Equity

International Equity funds invest in shares of non-North American companies.

Global Equity funds typically aim to achieve long-term capital growth by investing in shares of companies in Asia, Europe andthe Americas.

A share represents an ownership stake in a company; therefore, how the Fund performs depends on the success of thecompany holdings within the Fund. The Fund’s performance can also be affected by such factors as currency exchange ratesand economic and political trends around the world.

International/Global Equity funds are ideal for investors who have a long-term focus, want to include foreign holdings in theirportfolio and are comfortable with a higher degree of volatility.

These funds vary greatly, depending on the size and types of companies invested in, the countries and regions invested in, andthe selection criteria used by the manager.


International Equity

ValueManulife International Equity Fund (Templeton) 8192 43

IndexMLI BlackRock International Equity Index 8321 44

Global Equity

ValueManulife Trimark Fund 8181 45

GrowthManulife McLean Budden Global Equity Fund 8161 46

Volatility meter


Low (1) High (25)

.17

INTERNATIONAL EQUITY Code 8192

Manulife International Equity Fund (Templeton)

Germany 9.89%

Netherlands 7.12%

Singapore 4.14%

Switzerland 6.50%

Japan 7.57%

France 10.25%

United Kingdom 18.99%Other 35.54%



Telenor ASA 1.98%

Telefonica SA 1.97%

Sanofi−Aventis 1.81%

France Telecom 1.76%

Samsung Electronics Co. 1.74%

Unilever NV 1.72%

Vodafone Group PLC 1.72%

Portugal Telecom SGPS SA 1.71%

NESTLE N 1.70%

Siemens AG 1.59%

Total 17.70%





Large

Medium

Small

All Cap



UNDERLYING FUND −> MLI International Eq (Templeton)Objective The Fund is managed to achieve long−term capital appreciation, primarilythrough investments in equity securities of companies outside Canada and the UnitedStates. Franklin Templeton’s investment philosophy is based on identifying undervaluedcompanies that, over time, may produce the greatest share price returns with minimumrisk. Bottom up analysis and a worldwide network of experienced research professionalsare used to identify undervalued stocks.


Fund managers Bradley A. Radin, CFA and Maarten Bloeman



−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI International EquityMLI International Eq (Templeton)

15.3−31.3−6.1

27.1

9.814.415.6

−18.2−8.03.7



$5,000$6,000$7,000$8,000$9,000

$10,000$11,000$12,000$13,000$14,000$15,000


MLI International EquityMSCI EAFE ($ Cdn)MLI International Eq (Templeton)

$10,706*

$8,481



This table shows the historical annual compound total return of the Fund compared withthe MSCI EAFE ($ Cdn).


inception

Manulifeinception

date

MLI International Equity 15.30% −11.00% −9.39% 0.77% 2.63% Oct 2001

MSCI EAFE ($ Cdn) 13.21% −10.62% −8.89% 1.15% −

Rate of return expectation The Fund is expected to outperform the MSCI EAFE Total Return Index ($ Cdn) over moving three−yearannualized period by 2.0% per year.


43

Volatility meter


Low (1) High (25)

.17

INTERNATIONAL EQUITY Code 8321

Manulife BlackRock International Equity Index Fund

Australia 5.11%

Spain 7.14%

France 11.72%

Italy 9.14%

United Kingdom 11.39%

Germany 15.28%

Japan 17.59%Other 22.63%



Banco Santander Central SA 2.05%

Telefonica SA 1.80%

ENI SPA 1.71%

E.ON N 1.47%

Total SA 1.47%

Siemens AG 1.40%

Bayer Ag Sponsored Adr 1.23%

UNICREDIT RSP 1.23%

BASF AG 1.06%

Allianz SE 1.05%

Total 14.47%





Large

Medium

Small

All Cap



UNDERLYING FUND −> BlackRock CDN MSCI EAFE Equity IdxObjective The BlackRock CDN MSCI EAFE Equity Index Fund's objective is to match the returns ofthe MSCI EAFE Index ("index") as closely as possible. BGICL uses an indexing approach,where they own assets to match those of the index, in about the same names, weights,sectors, and countries.

Managed by BlackRock Asset Management Canada Limited

Fund managers Ed Corallo, Joselle Duncan, CFA, Tim Wong, CFA and Creighton Jue,CFA

Inception date April 1999 Total assets $807.8 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in November 2003. To provide further historical information, the shaded arearepresents the returns of the underlying fund for the period before the start date of theManulife Fund.

−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI BGI International Eq IndexBlackRock CDN MSCI EAFE Equity Idx

12.0−29.0−5.6

25.911.211.213.2

−16.6−16.3−10.8



$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000


MLI BGI International Eq IndexMSCI EAFE ($ Cdn)BlackRock CDN MSCI EAFE Equity Idx

$8,085* $8,481



This table shows the historical annual compound total return of the Fund compared withthe MSCI EAFE ($ Cdn).


inception

Manulifeinception

date

MLI BGI International EqIndex

12.04% −10.80% −9.09% 1.03% 3.54% Nov 2003

MSCI EAFE ($ Cdn) 13.21% −10.62% −8.89% 1.15% −

Rate of return expectation Over the long term, this fund is expected to track the return and risk profile of the MSCI EAFE Index($ Cdn).


44

Volatility meter


Low (1) High (25)

.17

GLOBAL EQUITY Code 8181

Manulife Trimark Fund

Hong Kong 2.57%

Other 15.63%


France 2.78%

Finland 9.46%

Germany 3.63%

United States 27.57%Switzerland 28.77%



NESTLE N 10.77%

Microsoft 8.54%

Roche Holdings 6.44%

Nokia 6.12%

SYNTHES 5.02%

Cisco Systems 4.03%

Diageo PLC 4.01%

Aryzta AG 3.91%

Rockwell Collins 3.81%

Schindler Holding AG 3.52%

Total 56.17%





Large

Medium

Small

All Cap



UNDERLYING FUND −> Trimark Fund−SCObjective The Trimark Fund seeks to achieve strong capital growth with a high degreeof reliability over the long term. The Fund invests primarily in equities of companiesanywhere in the world.

Managed by Invesco Ltd.

Fund managers Dana Love, MSc, CFA, Jeff Hyrich, CFA, Heather Peirce, BA, SeungchanLee and Kevin Kaminski

Inception date September 1981 Total assets $1,254.7 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in October 1997.

−40%

−20%

0%

20%

40%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI Trimark

12.2−27.5−8.1

29.1

5.76.69.4−4.1

11.714.2



$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000


MLI TrimarkMSCI World ($ Cdn)

$14,567*

$7,421



This table shows the historical annual compound total return of the Fund compared withthe MSCI World ($ Cdn).


inception

Manulifeinception

date

MLI Trimark 12.19% −9.79% −9.25% 0.39% 5.07% Oct 1997

MSCI World ($ Cdn) 11.78% −9.08% −8.43% −0.26% −

Rate of return expectation To be the top of its respective category over the long term, while striving to outperform the MSCIWorld Index ($ Cdn).


45

Volatility meter


Low (1) High (25)

.14

GLOBAL EQUITY Code 8161

Manulife McLean Budden Global Equity Fund

Switzerland 9.67%

France 5.37%

Spain 2.15%

Germany 4.18%

Japan 7.46%


Other 15.47%United States 43.63%



BP PLC 2.39%Microsoft 2.19%Nestle S.A. 2.07%Roche Holdings 1.96%Merck & Company 1.82%Novartis AG 1.79%CVS Caremark 1.77%Banco Santander Central SA 1.66%Pepsico Inc. 1.58%Exxon Mobil 1.56%HSBC Holdings PLC 1.55%Pfizer 1.49%AT&T Inc. 1.47%BG Group PLC 1.45%ACE Ltd. 1.43%Total 26.18%





Large

Medium

Small

All Cap



UNDERLYING FUND −> MB Global EquityObjective The McLean Budden Global Equity Fund is managed to provide a superiorrate of return, primarily through capital appreciation. The Fund invests in a diversifiedportfolio of 60−80 non−Canadian equities. Security selections emphasize large companieswith prospects for above average earnings growth.

Managed by McLean Budden Limited

Fund managers McLean Budden − Mgmt. Team

Inception date June 1996 Total assets $1,143.9 million

Historical gross returnsGross rates of return are shown before investment management fees have beendeducted. The solid area represents the gross returns of the Manulife Fund since itsinception in July 1997.

−30%

−20%

−10%

0%

10%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

MLI McLean Budden Global Equity

13.4

−21.7−7.8

19.6

5.75.58.5−17.6−6.61.4



$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000


MLI McLean Budden Global EquityMSCI World ($ Cdn)

$9,242*

$7,421



This table shows the historical annual compound total return of the Fund compared withthe MSCI World ($ Cdn).


inception

Manulifeinception

date

MLI McLean Budden GlobalEquity

13.38% −5.79% −6.46% 0.68% 3.49% Jul 1997

MSCI World ($ Cdn) 11.78% −9.08% −8.43% −0.26% −

Rate of return expectation The Fund is expected to outperform the MSCI World Index ($ Cdn) over a moving four−yearannualized period by 1.0% per year.


46

47

The philosophy

The Investment Management Services (IMS) team focuseson quality, not quantity. They believe past performance isnot an accurate indicator of future performance, butrather high-quality investment firms who adhere todocumented investment policies and procedures are morelikely to deliver superior results over time. It is their job tomonitor the fund managers on Manulife's platform soinvestors don’t have to. They understand how important itis for Manulife Financial’s stakeholders to have sufficientinformation to make prudent investment decisions. This iswhy i-Watch® exists.

Investment Management Services

One of Manulife Financial’s core competencies is providinginvestment management services in the countries in whichwe operate, including the U.S., Canada, Hong Kong, Japanand other Asian countries. In Canada, the IMS team iscomprised of analysts and industry professionals whosecredentials match professionals in the most respectedinvestment consulting firms.

By operating objectively and independently of any businessunits, the IMS team ensures fund partners meet strictrequirements for fund management. Given that moneymanagement is a global concern, team members oftenconsult with their Manulife counterparts throughout theworld. Fund partners adhere to the same best practicesparticularly when IMS is selecting or monitoring investmentfunds representing non-North American mandates.

i-Watch®

Fund selection

Funds available through Manulife Financial are screened andselected using a strict process. Performance is one screeningcriterion, but is not the most important determinant offuture returns. In IMS’ view, the consideration of aninvestment firm’s qualitative aspects, together with itsquantitative aspects, is a better indicator of the fund’s long-term viability.

Reflecting this viewpoint, Manulife Financial’s selectionprocess includes an in-depth review of factors that determinethe underlying quality of the fund manager. IMS emphasizestheir qualitative review in the decision-making process andscreens for the following qualities:

• The stability of the organization, including successionplanning and adherence to a code of ethics

• The depth, quality and overall experience level of thepeople managing the assets

• A clearly defined investment process that has beenapplied consistently over time

• A record of performance that compares favourably toappropriate benchmarks and peer managers

• Risk characteristics that are in line with investmentmandates

The IMS team is made up of independent professionals whoget ‘behind the numbers’ by visiting and interviewing fundmanagers on a regular basis, probing issues in a way that canonly come from years of experience.

Ongoing monitoring process

While the selection process is important, the ongoingmonitoring process is what makes i-Watch unique. Once aninvestment fund is selected, the IMS team continues to applythe same level of analysis used to select the fund manageroriginally. With regular onsite due diligence meetings, theIMS team conducts ongoing systematic reviews of every fundavailable through Manulife Financial. The due diligencereview includes a comprehensive examination of the evolvingcharacteristics of the fund and face-to-face meetings withthe fund manager.

Manulife Financial believes in forming long-term relationshipswith our manager partners. If a fund fails to live up to itsmandate, we will work with the fund manager to addressspecific concerns. If these additional steps fail to address ourexpectations, the fund manager will be replaced or themandate will be capped. The choice of actions is based onminimizing any disruption to investors.

i-Watch®

Group Savings and Retirement Solutions’ products and services are offered throughManulife Financial (The Manufacturers Life Insurance Company).Manulife Financial is a leading Canadian-based financial services group serving millions of customers in22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarilythrough John Hancock in the United States, the Company offers customers a diverse range of financialprotection products and wealth management services through its extensive network of employees, agentsand distribution partners.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK.Manulife Financial can be found on the Internet at www.manulife.com.

Manulife Financial and the block design are registered service marks and trademarks of The ManufacturersLife Insurance Company and are used by it and its affiliates including Manulife Financial Corporation.

(12/2009) FutureStep managed platform

You need your customer number and your personal identification number (PIN) to access this service. If you

need a PIN, or have forgotten it, call toll-free 1-888-727-7766 and press '0' to speak with a Customer Service

Representative.

Available 24 hours a day, 7 days a week at www.manulife.ca/GRO.

A secure website designed to help you.

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