Manulife Global Fund – Healthcare Fund
Attractive opportunity capitalising on long-term secular trends
Healthcare outperformed the broad equity market and most other sectors over the long term.
Total returns (31 Dec 1994 – 30 Apr 2025)1
Long-term secular trends
The global population is aging and there will be more demand for healthcare products and services, as well as increased investments in attaining medical breakthroughs.
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Ageing population2 Nearly 22% of the global population will be 60 years old and above by 2050.
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Rising healthcare spend3 The US spent 17% of its gross domestic product on healthcare in 2022, an increase of more than twofold over the last 20 years.
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Investments in medical advances4 The US Food & Drug Administration approved more than 450 novel drugs from 2015 to 2024, an average of 45 approvals a year.
Resilience during economic downturns5
Healthcare also demonstrated resilience during economic downturns, due to the inelastic nature of demand for healthcare products and services.
Three guiding principles
The investment team is guided by these 3 principles in implementing the strategy and believes that healthcare companies with products and services that address these principles should potentially see unprecedented demand.
The diligent and faithful implementation of these guiding principles has seen the Fund attain a consistent performance track record since inception.
Cumulative growth of US$100 since inception (as of 30 Apr 2025)6
Fund information
| AA | AA (SGD Hedged) Acc | |
| Investment objective | The Fund aims to provide medium to long term capital growth by investing mainly in equity and equity-related securities of companies in healthcare and related industries globally and which are listed on any stock exchange, which may include companies which derive a significant portion of their earnings from medical and pharmaceutical products and services. | |
| Inception date | 27-Jun-08 | |
| ISIN code | LU0357321016 | LU2468319806 |
| Bloomberg ticker | MGFHEAL LX | MLHCAAS LX |
| Base currency | USD | |
| Mode of subscription | Cash | Cash and SRS |
| Minimum investment | USD 1,000 (or the equivalent in any other major currency) | |
| Distribution frequency | N.A. | |
| 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 404.4 million (as of 31 Dec 2025) | |
Portfolio managers7
Steven G. Slaughter
Steve is a member of the capital appreciation team and lead portfolio manager of the global healthcare strategy. He also conducts fundamental research on the healthcare sector for all large-cap equity and thematic-based strategies managed by the team.
Prior to joining the firm, he was a portfolio manager at Oak Ridge Investments and, before that, he was a portfolio manager and senior investment analyst at UBS Global Asset Management, where he directed healthcare investments for U.S. core and global portfolios.
Steve has a background in private equity and has held various corporate management roles within the healthcare industry, including Johnson & Johnson, Abbott Labs, and Elan Pharmaceuticals.
C.J. Sylvester
C.J. is the portfolio manager for the Global Healthcare Strategy and provides fundamental research on the healthcare sector for the capital appreciation team. He has expertise within global therapeutics, including biotechnology, pharmaceuticals, specialty pharmaceuticals, and generics.
Before joining the firm, C.J. was a senior healthcare analyst at Fred Alger Management. Other prior roles included an analyst supporting long/short healthcare portfolios at Catapult and at Lombard Odier, and he was also co-director of research and the executive director and lead analyst with the healthcare group at UBS Wealth Management.
C.J. started his career at UBS Investment Bank as a pharmaceutical analyst in the U.S. equity research division.
2. https://www.who.int/news-room/fact-sheets/detail/ageing-and-health
3. https://data.oecd.org/healthres/health-spending.htm. Latest data available.
4. https://www.fda.gov/drugs/development-approval-process-drugs/drug-approvals-and-databases
5. Source: Morningstar, as of 30 Apr 2025. Past performance is not indicative of future results.
6. Cumulative return is 194.0% on offer-to-bid basis. Since inception (27 June 2008), the class returned 6.94% (annualised) on NAV-to-NAV basis and 6.61% (annualised) on offer-to-bid basis. Performance figures are calculated with all dividends and distributions reinvested, taking into account all charges which would have been payable upon such reinvestment. Past performance is not indicative of future results.
7. Steven G. Slaughter will be retiring from the organization, effective 31 Dec 2026. C.J. Sylvester will be named co-lead portfolio manager, effective 29 Jan 2026, and lead portfolio manager, effective 31 Dec 2026.
Manulife Global Fund (the “Company”) is an open-ended investment company registered in the Grand Duchy of Luxembourg. The Manulife Global Fund – Healthcare 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 the purposes of investment, 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 realized 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.
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