Manulife Financial has expanded its 401(k) offering beyond just an annuity to offer a choice of 53 mutual funds. The lineup includes funds from such leading firms as AIM Capital Management, Deutsche Asset Management, MFS Investment Management and Putnam Investment Management. The new 401(k) product, Manulife Retirement Select, also includes recordkeeping services and is unbundled, so that sponsors can tailor their 401(k) plan.

"With Manulife Retirement Select, we’re capitalizing on the success we’ve already experienced in the small and mid-sized plan markets by offering a mutual fund product that incorporates the key advantages of our group annuity product," said Kendall Kay, chief strategy officer of Manulife.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.