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Important Notes:

  1. Manulife Global Fund – Dragon Growth Fund (“Manulife Dragon Growth Fund” or the “Fund”) invests in a diversified portfolio of public companies listed in Hong Kong and/or having substantial business interest in Hong Kong and/or China, which may involve equity market, Mainland China investment, Stock Connect, geographical concentration, liquidity, volatility and taxation risks.
  2. The Fund does not guarantee distribution of dividends, the frequency of distribution, and the amount/rate of dividends. 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) share class(es). Dividends paid or effectively paid out of capital amount 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 the relevant class(es).
  3. 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.  
  4. Investment involves risk. The Fund may expose its investors to capital loss. Investors should not base on this material alone to make investment decisions and should read the offering document for details, including the risk factors, charges and features of the Fund and its share classes.
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Eligible under Capital Investment Entrant Scheme (CIES)1

Hong Kong & China equities: the right pick for China’s investment landscape in our view

Given China’s ongoing stimulus and opening-up of stock markets, we believe the road ahead is paved for investors with opportunities.

China is leading the world’s GDP growth

GDP growth across the globe is expected to turn negative.in 2020 while the estimate for China is expected to be +1.8%. Looking ahead, the GDP growth estimate in China is expected to continue outstripping that of developed markets.

 

GDP growth forecast (%)2

 

A shift to online consumption

Despite challenges for bricks-and-mortar stores during the pandemic, consumers move to online consumption.Momentum for online consumption seems irreversible. Online retail is expected to further stimulate and fulfill new demand with a penetration rate of 37% of total retail sales by 2023E.

 

China’s online retail penetration rate3

Home-grown innovation and self-sufficiency

Strengthening innovation capacity and achieving breakthroughs in core technologies are key for China’s “dual circulation” strategy. We expect to see more domestic national champions to strive on homegrown innovation and achieve scale, such as in electric vehicle areas.

 

Global electric vehicles battery manufacturer market share (2019)4

 

Leverage on biotech innovation for quality healthcare

With an ageing population and the rapid emerging landscape for innovative drug discovery, notable potential upside is expected for the biologics market in China. In addition, industry consolidation and a more favourable regulatory environment should provide opportunities for pharmaceutical companies.

 

China biologics market sales (USD bn)5

Manulife Dragon Growth Fund

Capturing growing trends: three key investment themes

Consumption upgrade

E-commerce

Education

With Chinese consumers’ willingness to upgrade their quality of life and the acceleration of digitalization post-COVID, penetration of e-commerce and online education has further risen.

 

R&D / innovation

High
technology

Healthcare

China’s government and corporations emphasise on R&D and innovation to improve competitiveness, especially in high technology, industrial applications, and healthcare sector.

 

Policy driven

Policy
stimulus

Import
substitution

The Chinese government will continue to support several key policy areas, such as import substitution tailwind for tech and healthcare.

 

Conviction is the key in stock selection

Our investment team holds a medium- to long-term view, but makes adjustments in the short-term according to market conditions. We aim to hold a concentrated portfolio with 40-55 stocks6.

 

Flexible allocation between China and Hong Kong equities

Our investment team makes flexible and dynamic allocations between China and Hong Kong equities, according to changes in market conditions, government policies, industry trends and individual holdings.

 

 

Award-winning team

In addition to successfully capture many uptrend opportunities through teamwork, we also select stocks through lateral thinking. By thinking a few steps ahead, we target to achieve outstanding results that outperform others in the industry.

Winning a wide range of awards for the

past 7 years7

Manulife's investment expertise

40+

Equity investment experts in the Greater China region8

24+ years

of track record9

USD 488 billion

Assets under management10

  1. The Capital Investment Entrant Scheme has been suspended from 15 January 2015 until further notice. For details, please refer to the website of the Immigration Department and/or inquire to your financial intermediary. Authorisation of the scheme is not an official recommendation of the scheme.
  2. Source: IMF, 13 October 2020. The above information may contain projections or other forward-looking statements regarding future events, targets, management discipline or any other expectations. There is no assurance that such events will occur, and the future course may be significantly different from that shown here.
  3. Source: National Bureau of Statistics of China, Credit Suisse, as of May 2020. The above information may contain projections or other forward-looking statements regarding future events, targets, management discipline or any other expectations. There is no assurance that such events will occur, and the future course may be significantly different from that shown here.
  4. Source: Citic Securities, Bloomberg, as of August 2020. The above information may contain projections or other forward-looking statements regarding future events, targets, management discipline or any other expectations. There is no assurance that such events will occur, and the future course may be significantly different from that shown here.
  5. Source: CICC Research, as of April 2020. The above information may contain projections or other forward-looking statements regarding future events, targets, management discipline or any other expectations. There is no assurance that such events will occur, and the future course may be significantly different from that shown here.
  6. Source: Manulife Investment Management, as of 31 December 2020. This is an illustrative guideline. Portfolio holdings and characteristics are subject to change at any time. Information about the asset allocation is historical and is not an indication of the future composition.
  7. Source: Manulife Investment Management (Asia), as of 31 December 2020. Awards issued by different sponsors are for reference only, and should not be construed as an endorsement of Manulife Investment Management, its affiliates or its products. Please refer to the respective websites of the sponsors of these awards for more information regarding the criteria and manner in which such awards are determined. BENCHMARK Fund of the Year Awards – Outstanding Achiever (2014, 2015), Retail Class – Best-in-class (2016) and House Award – Best-in-class (2017, 2018) are issued based on the assessment criteria of the sponsor and performance data provided by Morningstar Asia Limited. These awards reflect the performance of the Fund as of September of the year mentioned; Bloomberg BusinessWeek (Chinese Edition) – Top Fund Awards 2015 are issued based on the assessment criteria of the sponsor and performance data of funds. This award reflects the performance of the Fund – Class A as of September of the year mentioned; Fund Selector Asia Awards 2017 are issued based on the assessment criteria of the sponsor and performance data of funds. This award reflects the performance of the Fund – Class A as of June 2016; Citywire Asia Awards are issued based on the assessment criteria of the sponsor and performance data of funds. Citywire Best Fund Manager Awards (2016, 2018, 2020) reflect the 3-year performance of the Fund as of December of the prior year (i.e. 2015, 2017 and 2019). Citywire Best Fund Group Awards (2017, 2018, 2019, 2020) recognise the expertise of the group as a whole in managing money in specific investment sectors over seven years (i.e. Dec 2009 – Dec 2016, Dec 2010 – Dec 2017, Dec 2011 – Dec 2018 and Dec 2012 – Dec 2019).
  8. Source: Manulife Investment Management, as of 19 October 2020. 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 Northern International Trust, 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.
  9. Manulife Global Fund – Dragon Growth Fund (Class A) inception date: 20 December 1996; Manulife Global Fund – Dragon Growth Fund (Class AA) inception date: 19 November 2007.
  10. Source: Manulife Investment Management, as of 31 December 2020. AUM reflects the total AUM of Manulife Global Fund – Dragon Growth Fund Class A and AA.

 

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