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Mr. Sukkawat Prasurtying, CFA, Chief Investment Officer, Acting Chief Executive Officer said: “We are delighted to announce the Manulife Strength-Equity Dividend Fund’s dividend payment of THB 0.70 per unit. The book closing date is September 29, 2010 and the payment date is October 7, 2010.”
The dividend payment is the fifth since the fund was launched in August 2009. The Fund invests in stocks listed on the Stock Exchange of Thailand and is available for both retail and institutional investors. The fund offers institutional investors tax privileges on dividends as any dividends received from the fund are tax-exempt for listed companies. For non-listed companies, only 50% of dividends from the fund are subjected to corporate tax1.
Sukkawatcontinued:“As we expected, the Thai stock market has been rallying since the end of 2009 due to the greater-than-expected expansion of Thai economy. Moreover, consumer confidence in
He continued: “Manulife has a positive view for Thai stock market due to the expansion of the domestic economy, driven by exports, domestic consumption, and government spending. Moreover, the attractive valuations and fundamentals of the Thai stock market, which has lower Price-to-Book (P/BV) and Price-to-Earnings (P/E)s than many of its neighbors in Asian region, has also brought substantial foreign fund flows into the market. However, there are potential risks on the horizon and in particular, we are keeping an eye on the political situation, any changes in which would impact on market sentiment. Overall, we are still bullish for the long term outlook for Thai equities.”
Investors who are interested in MAMT funds can contact MAMT directly at Tel. (66) 0-2354-1001, (66) 0-2246-7650 (press ‘2’ for asset management) or via selling agents e.g. Standard Chartered Bank (Thai) PCL., Phatra Securities PCL, KGI (Thailand) Securities PCL, Merchant Partner Securities Co., Ltd. and Phillip Securities (Thailand) Co., Ltd, Ayudhya Securities PCL, Siam City Securities Co., Ltd. and Asia Plus Securities PCL.
Manulife Asset Management Thailand is part of MFC Global Investment Management, the asset management division of Manulife Financial Corporation. Representing over 100 years of
Notes to editors:
1The company must hold investment units at least three months before and after the XD date.
The Fund invests, on average, no less than 65 per cent of the net asset value in stocks listed on the Stock Exchange of Thailand. The remaining funds are invested in other assets to seek investment returns as stipulated or approved by the Securities and Exchange Commission (the SEC) or the Office of the SEC. The investment ratios can be adjusted by the fund managers as appropriate in order to help maximize returns to investors. The Fund has a policy of paying dividend to unitholders a maximum of 12 times per year at a rate up to a maximum of 70% of fund’s retained earnings or net profits which include realized gains and unrealized gains or increases in net assets resulting from operations. Dividends paid from net profits or an increase in net assets resulting from operations may not include unrealized gains. So, unitholders will have a chance to realize profits without redemption.
In addition, the management company shall reserve the right not to pay dividend if the dividend to be paid is less than
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were Cdn$454 billion (US$428 billion) as at June 30, 2010. The Company operates as Manulife Financial in
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