A new LPGA Tour event called the Manulife Financial LPGA Classic will kick off next year at the Grey Silo Golf Course in Waterloo.

Manulife Financial, a Canadian-based financial services company, has signed a three-year agreement to be the title sponsor. It is actually a five-year deal, with an option for 2015 and '16.

The tournament will feature a standard eligibility field of 144 players and 72 holes of stroke play. The inaugural event will be held June 21-24, 2012.

The new tournament joins the CN Canadian Women's Open, which has been on the LPGA schedule since 1976.

It marks the first time the LPGA has teed it up in the Waterloo Region since 1990, when the former duMaurier Classic was held at Kitchener Westmount.