Singapore - MFC Global Investment Management today announces the launch of five new funds in Singapore by Manulife Asset Management (Singapore) Pte Ltd. These are the first funds to be launched by the company, which was granted a local license in 2008, and are an important step forward in MFC Global Investment Management’s bid to develop its business in South East Asia.
Singapore dollar-denominated, the fund range includes local money market, bond, balanced and equity funds and a Greater China equity fund. Available with immediate effect, the funds are open to institutional investors and can also be accessed by retail investors via Manulife Singapore’s unit trust service.
Announcing the launch of these funds, Jill Smith, Managing Director of Manulife Asset Management Singapore said: “We know that Singapore investors are looking for funds that give them access to local market investment insight, world-class investment management but that also come with strong underlying risk management from a global brand name they can trust. These factors have become even more important given the recent market turmoil. We are proud to be able to offer Singaporeans funds that harness our fund managers’ extensive know-how in the local markets, all backed by the financial strength and rigorous risk management framework of the world’s third largest life insurance company1, Manulife Financial Corporation.”
Since being granted its license to operate in Singapore in 2008, Manulife Asset Management Singapore has established a 12-strong team in Singapore where the business manages over S$2.5billion in assets (at 31st July 2009).
Michael Dommermuth, Head of Asia Investments, MFC Global Investment Management (Asia) said: “Today marks a milestone for the development of our business in Asia. Singapore is a key market for us as investors continue to seek well-managed, market-leading funds from asset managers that they can rely on to be around for the long term.”
The five funds being launched in Singapore are:
- Manulife Singapore Equity Fund
Managed by Amy Low in Singapore, the fund seeks to achieve capital appreciation in the medium to long term by investing primarily in a diversified portfolio of Singapore equity and equity-related securities.
- Manulife Singapore Balanced Fund
Managed by Amy Low and Akira Okada in Singapore, the fund aims to maximise total return in the medium to long term by investing in a portfolio comprising equities and fixed income instruments.
- Manulife Singapore Bond Fund
Managed by Akira Okada in Singapore, the fund aims to provide investors with stable medium to long term returns with capital preservation, through investing in primarily investment-grade Singapore dollar-denominated fixed income and money markets instruments.
- Manulife Singapore Money Market Fund
Managed by Akira Okada in Singapore, the fund aims to manage liquidity, preserve principal capital and provide a return comparable to that of Singapore dollar short term deposits, by investing primarily in short-term money market instruments and debt securities.
- Manulife Greater China Opportunities Fund
This is a Singapore-constituted feeder fund into the Manulife Global Fund - Greater China Opportunities Fund which is managed by Matthew Lee and Terrace Chum in Hong Kong. The underlying fund invests primarily in companies listed in Hong Kong, China and Taiwan.
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Notes to editors:
1 By market capitalization as at 30 June 2009. Source: Thomson Reuters.
About MFC Global Investment Management
MFC Global Investment Management® is the asset management division of Manulife Financial. MFC Global Investment Management’s diversified group of companies provides comprehensive asset management solutions for institutional investors, investment funds and individuals in key markets around the world. This investment expertise extends across a full range of asset classes including equity, fixed income and alternative investments such as oil and gas, real estate, timber, farmland, as well as asset allocation strategies.
MFC Global Investment Management has investment offices in the United States, Canada, the United Kingdom, Japan, Hong Kong, and throughout Asia. Additional information about MFC Global Investment Management may be found at www.mfcglobal.com.
Media Contact:
Catherine Battershill
MFC Global Investment Mangement
+44 207 256 3507
catherine_battershill@mfcglobal.com
