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Manulife Global Fund - Global Multi-Asset Diversified Income Fund

Regular income from multiple sources1

A multi-asset income strategy in a low yield environment​

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Flexible and unconstrained approach​

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Fund information​

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A multi-asset income strategy in a low yield environment​

 

Broad investment universe

Performance and yields across asset classes can fluctuate in different economic cycles. Investors can broaden their investment universe within bonds and equities by diversifying across sectors and geographies which can in turn provide low correlated income sources and also increase overall yield stability.​

 

Annualised yield of income yielding assets over the past 15 years2

AP REITs_updated_071720
Annualised yield of income yielding assets over the past 15 years

Blending traditional and non-traditional income sources

The Fund allows a mix of traditional and non-traditional asset classes which have moderately low correlation and potentially provide better risk-adjusted returns compared to a single asset class. Non-traditional asset classes such as REITs and preferred securities not only provide alternative sources of income but can add value to an investor's portfolio as they provide relatively higher yields compared to traditional asset classes while having moderately low correlation.

 

Correlation of traditional and non-traditional asset classes3

APREITs chart 1

Flexible and unconstrained approach​

 

Flexible and diversified allocation

The flexible and unconstrained allocation approach of the Fund provides diversification benefits by integrating a mix of traditional and non-traditional asset classes. Through a multi-asset allocation approach; one that includes a mix of bonds, equities and non-traditional assets, investors can potentially receive stable income from diversified sources.

 

Flexibility to invest across the global capital spectrum

Table of types of fixed income

Potential downside buffer through option strategies

The use of option strategies can potentially increase the overall yield of an investor’s portfolio, as well as provide downside buffer during periods of market downturn. This can be achieved through the writing (or sale) of call and/or put options. 

1. Enhancing yield

The premiums collected from option writing can act as an additional source of income for investors.

2. Providing downside protection

The call premiums can help to cushion or even offset falling equity prices, effectively acting as a partial hedge.

During several market corrections since 2000, equity option strategies4 have proven to provide a downside buffer with lower drawdowns than the broad US equity market (refer to the chart below). This has become an important and popular risk management tool and has been widely adopted by many institutional investors.

 

Performance during market volatility

Performance during market volatility

Fund information

Share Class AA (SGD Hedged) MDIST (G) AA (USD) MDIST (G)
Investment objective​ The Fund aims to achieve income generation by investing primarily in a diversified portfolio of equity, equity-related, fixed income and fixed income-related securities of companies and/or governments (which include agencies and supranationals in respect of fixed income and fixed income-related securities) globally (including emerging markets from time to time).
Inception date 25-04-19
ISIN code LU1935043536 LU1935043023
Bloomberg ticker MLADASM LX MLADAUM LX
Base currency​ USD
Mode of subscription Cash and SRS Cash
Minimum investment USD 1,000 (or the equivalent in any other Major Currency)
Distribution frequency​​1 Monthly
Management fee 1.50% p.a.
Initial sales charge Up to 5.0%
Dealing frequency Daily
Investment manager Manulife Investment Management (US) LLC
Fund size USD 377.83 million (as of 31 July 2021)

Investment objective​: The Fund aims to achieve income generation by investing primarily in a diversified portfolio of equity, equity-related, fixed income and fixed income-related securities of companies and/or governments (which include agencies and supranationals in respect of fixed income and fixed income-related securities) globally (including emerging markets from time to time).

Inception date: 25-04-19

ISIN code: LU1935043536 

Bloomberg ticker: MLADASM LX

Base currency​: USD

Mode of subscription​: Cash and SRS​

Minimum investment​: USD 1,000 (or the equivalent in any other Major Currency)​

Distribution frequency1​: Monthly

Management fee​: 1.50% p.a.​

Initial sales charge​: Up to 5.0%​

Dealing frequency​: Daily​

Investment manager​: Manulife Investment Management (US) LLC​

Fund size: USD 377.83 million (as of 31 July 2021)

Investment objective​: The Fund aims to achieve income generation by investing primarily in a diversified portfolio of equity, equity-related, fixed income and fixed income-related securities of companies and/or governments (which include agencies and supranationals in respect of fixed income and fixed income-related securities) globally (including emerging markets from time to time).

Inception date: 25-04-19

ISIN code: LU1935043023

Bloomberg ticker: MLADAUM LX

Base currency​: USD

Mode of subscription​: Cash

Minimum investment​: USD 1,000​ (or the equivalent in any other major currency)​

Distribution frequency1​: Monthly

Management fee​: 1.50% p.a.​

Initial sales charge​: Up to 5.0%​

Dealing frequency​: Daily​

Investment manager​: Manulife Investment Management (US) LLC

Fund size: USD 377.83 million (as of 31 July 2021)

 

Portfolio manager

Murray Collis

 

John F. Addeo, CFA, is the global chief investment officer for Manulife Investment Management’s fixed income strategies (public markets), as well as senior portfolio manager for the High Yield and Global Credit products. John is a value-oriented fundamental investor with over 34 years of experience investing across the entire capital structure and credit spectrum. Prior to joining the company, he was with MFS Investment Management, where he held progressive portfolio management roles, most recently as an investment officer for the High Yield Bond Group, while playing an integral role in that firm’s expansion into global credit. Earlier in his career, John held high yield analyst roles at Eaton Vance and Keystone Investments, covering a wide variety of industries and gaining broad experience in public and private placement markets, restructurings and liquidations. He is a CFA charterholder and a member of the CFA Society Boston, Inc.​

John F. Addeo, CFA, is the global chief investment officer for Manulife Investment Management’s fixed income strategies (public markets), as well as senior portfolio manager on the High Yield and Global Credit products. John is a value-oriented fundamental investor with over 34 years of experience investing across the entire capital structure and credit spectrum. Prior to joining the company, he was with MFS Investment Management, where he held progressive portfolio management roles, most recently as an investment officer for the High Yield Bond Group, while playing an integral role in that firm’s expansion into global credit. Earlier in his career, John held high yield analyst roles at Eaton Vance and Keystone Investments, covering a wide variety of industries and gaining broad experience in public and private placement markets, restructurings and liquidations. He is a CFA charterholder and a member of the CFA Society Boston, Inc.​

Notes:

1. The intention of Manulife Global Fund to make the monthly distribution and the distribution yield for the Fund is not guaranteed, and Manulife Global Fund may in future review the distribution policy depending on prevailing market conditions.

2. Manulife Investment Management, Bloomberg, MSCI, as at 31 December 2020. US Investment grade corporate bonds is represented by JPMorgan US Investment Grade Index, High yield corporate bonds by JPMorgan Global High Yield Index, Emerging market bonds by JPMorgan EMBI Global Index, Preferred securities by ICE BofAML Fixed Rate Preferred Securities Index, Global equities by MSCI World Index, Global REITs by FTSE EPRA/NAREIT Index, Equity option strategies by CBOE S&P 500 30 Delta BuyWrite Index and CBOE S&P 500 PutWrite Index.

3. Bloomberg. Correlation coefficient is calculated based on weekly performance from December 2005 to December 2020. Relatively low correlation refers to correlation coefficients with absolute value equal to or smaller than 0.5, moderate correlation refers to correlation coefficients with absolute value between 0.5 and 0.75(inclusive), and relatively high correlation refers to correlation coefficients with absolute value above 0.745. Global REITs is represented by FTSE EPRA/NAREIT Global REIT Index, Preferred securities by ICE BofAML US All Cap Securities Index, Covered call by CBOE S&P 500 BuyWrite Index, Put writing by CBOE S&P 500 PutWrite Index; Investment grade corporate bond by Bloomberg Barclay Global IG Corporate Bond Index, High yield corporate bond by Bloomberg Barclay Global High Yield Corp Index, Emerging market USD bonds by BBgBarc EM USD Agg and Global equities by MSCI AC World Index.

4. Equity option strategies refer to 50% CBOE S&P 500 BuyWrite Index and 50% CBOE S&P 500 PutWrite Index. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.

Important Information

Manulife Global Fund (the “Company”) is an open-ended investment company registered in the Grand Duchy of Luxembourg. The Manulife Global Fund – Global Multi-Asset Diversified Income Fund (the "Fund") is recognised under the Securities and Futures Act of Singapore for retail distribution. The Company has appointed Manulife Investment Management (Singapore) Pte. Ltd. (Company Registration Number: 200709952G) as its Singapore Representative and agent for service of process in Singapore. The information provided herein does not constitute financial advice, an offer or recommendation with respect to the Fund. Opinions, forecasts and estimates on the economy, financial markets or economic trends of the markets mentioned herein are not necessarily indicative of the future or likely performance of the Fund. The Fund may use financial derivative instruments for efficient portfolio management and/or hedging. 

Investments in the Fund are not deposits in, guaranteed or insured by the Manager and involve risks. Past performance of the manager or sub-manager is not necessarily indicative of its future performance. The value of units in the Fund and any income accruing to them may fall or rise. Past performance of the Fund is not necessarily indicative of future performance. Investors should read the Singapore prospectus, and seek advice from a financial adviser before deciding whether to purchase units in the Fund. A copy of the Singapore prospectus and the product highlights sheet can be obtained from Manulife or its distributors. In the event an investor chooses not to seek advice from a financial adviser, he should consider whether the Fund is suitable for him. 

Distributions are not guaranteed. Investors should refer to the Singapore prospectus for the distribution policy of the Fund. The Directors of the Company shall have the absolute discretion to determine whether a distribution is to be made in respect of the Fund as well as the rate and frequency of distributions to be made. Distributions may be made out of (a) income, or (b) net capital gains, or (c) capital of the Fund, or (d) gross income while charging all or part of the fees and expenses to capital, or (e) any combination of  (a), (b) , (c) and/or (d). Past distribution yields and payments are not necessarily indicative of future distribution yields and payments. Any payment of distributions by the Fund is expected to result in an immediate decrease in the net asset value per share of the Fund.​

This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.​