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Important Notes:

  1. Manulife Global Fund – Asia Pacific REIT Fund (“Manulife Asia Pacific REIT Fund” or the “Fund”) invests primarily in equities and equity-related securities in the Asia Pacific ex-Japan region, which exposes investors to equity market risk as well as geographic concentration and currency risk.
  2. The relevant distributing class of the Fund does not guarantee distribution of dividends, the frequency of distribution and the amount/rate of dividends. Dividends may be paid out of income, realised capital gains and/or out of capital of the Fund in respect of Inc share class(es). Dividends may be paid out of realised capital gains, capital and/or gross income while charging all or part of their fees and expenses to capital (i.e. payment of fees and expenses out of capital) in respect of MDIST (G) and R MDIST (G) share class(es). Dividends paid out of capital of the Fund amounts to a return or withdrawal of part of the amount of an investor’s original investment or from any capital gains attributable to that original investment and may result in an immediate decrease in the net asset value per share in respect of such class(es) of the Fund.
  3. The Fund invests in real estate investment trusts (“REITs”), which may expose investors to sector concentration and real estate-related risks.
  4. The Fund intends to use financial derivative instruments (“FDIs”) for investment, efficient portfolio management and/or hedging purposes.  The use of FDIs exposes the Fund to additional risks, including volatility risk, management risk, market risk, credit risk and liquidity risk.
  5. Investment involves risk. The Fund may expose its investors to capital loss. Investors should not make decisions based on this material alone and should read the offering document for details, including the risk factors, charges and features of the Fund and its share classes.
  6. Given RMB is currently not a freely convertible currency, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB. As offshore RMB (CNH) will be used for the valuation of RMB denominated Class(es), CNH rate may be at a premium or discount to the exchange rate for onshore RMB (CNY) and there may be significant bid and offer spreads and thus the value of the RMB denominated Class(es) will be subject to fluctuation. Any devaluation of RMB could adversely affect the value of investors’ investments in the RMB denominated Class(es) of the Fund.
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What are REITs?

REITs, or Real Estate Investment Trusts, are collective investment schemes that are listed as corporate stocks. REITs investors own the property indirectly through share units which they hold and regularly gain income from the property’s portfolio.

 

How do REITs work?

REITs have a simple business model:
Generating income by leasing out properties. The property is managed by a professional team which actively seeks to lift the value of the property and the rent to increase potential income.

 

How do REITs generate income

 

 

Different types of REITs

REITs aim to deliver a source of recurrent income to investors through focused investment in a portfolio of income-generating properties such as shopping malls, offices, hotels and service apartments.

 

REITs by sectors

Why Asia Pacific REITs?

Consistent income return

Asia REITs have historically delivered a consistent dividend income. Out of the 11.3%1 annualised total return registered during the period of 2009 to November 2022, around 50% was contributed by dividend.

 

Asia REITs dividend return vs price return (%)

 

Professional management

REITs benefit from Asset Enhancement Initiatives, which can help to further increase property values and maintain sustainable rental income.

 

Active tenancy management can further increase occupancy rates.

 

Long-term development strategies, such as mergers and acquisitions, can further drive potential returns.

Attractive dividend yield potential

Major Asia Pacific REIT markets currently offer relatively attractive yields compared to other yield-oriented securities.

 

Yield comparison vs Equity/Government Bond (%)2

 

Inflation hedge

Inflation that is a result of economic growth tends to translate into greater demand for real estate and subsequent higher occupancy rates, supporting growth in REIT cash flow and dividends.

Over the past decade, Asia REITs have delivered higher dividend return on average compared to inflation of major REIT markets.

 

Asia REITs dividend return outpaced inflation (%)3

 

Manulife Asia Pacific REIT Fund

With the aim to achieve stable income and capital appreciation, the Fund remains diversified across secular growth sectors (industrial/specialised REITs), operational recovery plays (retail/office/hospitality REITs) and potential alpha generation (non-REIT real estate stocks).

Illustrative sector allocation

For illustrative purpose only. Above allocation does not represent actual portfolio allocation.

 

Aims to distribute dividend monthly4

The Fund predominantly invests in REITs in Singapore, Hong Kong and Australia as they offer relatively higher and stable dividend yields.

 

Illustrative market allocation5

apreits

 

Dividend schedule

apreits

(The distribution yield is not guaranteed. Distribution may be paid out of capital. Refer to Important Note 2)

*Applicable to monthly distribution share classes only.

Manulife Investment Management’s expertise

95+ years

Investment experience in property investments,
and assets and property management

 

USD 153 billion

Assets under management and administration in Asia7

 

200+

Professionals based in Asia8

 

The Fund is authorised by the Securities and Futures Commission of Hong Kong (“SFC”). SFC’s authorisation of the fund is not made under the Code on Real Estate Investment Trust and does not imply official recommendation.

  1. Source: Bloomberg, from 1 January 2009 to 30 November 2022. Asia REITs measured by FTSE/EPRA Nareit Asia ex Japan Index (capped).
  2. Source: Bloomberg, FTSE Russell, as of 30 November 2022. REIT Yield: Singapore REIT – FTSE ST Real Estate Investment Trusts Index, Hong Kong REIT – FTSE EPRA Nareit Hong Kong Index, Australia REIT – S&P/ASX 200 A-REIT Index. Equity Dividend Yield: Singapore equity: Straits Times Index, Hong Kong equity: Hang Seng Index, Australia equity: S&P/ASX 200 Index. For illustrative purposes only. The above yields do not represent the distribution yield of the Fund and are not an accurate reflection of the actual return that an investor will receive in all cases. A positive distribution yield does not imply a positive return. Past performance is not an indication of future results.
  3. Source: Bloomberg, The World Bank, as of 30 November 2022. Asia REITs measured by FTSE/EPRA Nareit Asia ex Japan Index (capped).
  4. Applicable to monthly distribution share classes only.
  5. For illustrative purpose only. Above allocation does not represent actual portfolio allocation.
  6. Source: Manulife Investment Management, as of 1 December 2022, refers only to Class AA (USD) MDIST(G). Annualised yield = [(1+distribution per unit/ex-dividend NAV) ^distribution frequency per annum]–1, the annualised dividend yield is calculated on the basis of the latest relevant dividend distribution and dividend reinvested, and may be higher or lower than the actual annual dividend yield. Please note that dividend is not guaranteed, and a positive dividend yield does not imply a positive return. Past performance is not indicative of future performance.
  7. Manulife Investment Management. Data as of 31 March 2022. Value of assets under management is rounded up to the nearest USD 1 billion.
  8. Data as of 30 June 2022. Total is comprised of investment professionals of Manulife Investment Management, Manulife-TEDA Fund Management Co. Ltd., a 49% joint venture is a joint venture between Manulife Financial and Tianjin TEDA International Holdings (Group) Co. Ltd., part of the Tianjin TEDA Investment Holding Co. Ltd. (TEDA), and Mahindra Manulife Investment Management Private Limited, a 49% joint venture of Manulife and Mahindra AMC.

 

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