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Important Notes:

  1. Manulife Advanced Fund SPC – Greater Bay Area Growth and Income Segregated Portfolio (“Manulife Greater Bay Area Growth & Income Fund” or the “Fund”) invests primarily in equities, equity-related securities and fixed income securities of issuers which are connected to the region comprising Hong Kong, Macau and the Guangdong Province of China (Greater Bay Area), which exposes investors to fixed income and equity (including REITs) market and asset allocation strategy risk as well as geographic concentration risk.
  2. The Fund invests in emerging markets, which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as likelihood of a higher degree of volatility, lower liquidity of investments, political and economic uncertainties, legal and taxation risks, settlement risk, custody risks and currency risks/control.
  3. The Fund’s investment in equity securities and equity-related securities in Mainland China is subject to general market risks, as well as A-Share market risk, Connect Schemes risk, volatility and liquidity risk, and Mainland China tax risk.
  4. The Fund’s investment in fixed income securities and cash and cash equivalents is subject to credit risk, interest rate risk, downgrade risk, sovereign debt risk, valuation risk, credit rating risk and currency risk; and specifically with respect to Mainland China fixed income securities is subject to credit rating agency risk, China Interbank Bond Market risk, RMB currency and conversion risk, Mainland China tax risk and Connect Schemes risk.
  5. The Fund does not guarantee distribution of dividends, the frequency of distribution, and the amount/rate of dividends. The Fund may at its discretion pay dividend out of capital or gross income while charging/paying all or part of its fees and expenses out of its capital. This amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment, and may result in an immediate reduction of the net asset value per share of the respective share classes after the distribution date.
  6. 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.
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Growth & Income from the Greater Bay Area (GBA)

Equities: The synergies generated from 4 major drivers

Focusing on four main sectors to unleash the enormous potential in the GBA.

 

R&D/Innovation

  • GBA has a higher level of R&D intensity. For example, Shenzhen’s R&D capital exceeds that of many global R&D leaders.
  • Focus sectors: semiconductors & related equipment, technology hardware & equipment, etc.

 

R&D spending as of GDP1

 

Consumption upgrade

  • With a much higher disposable income per capita than the national level, GBA’s affluent population continue to drive the consumption growth and upgrade within the region.
  • Focus sectors: education, premium food & beverage, etc.

 

Disposable income per capita: Guangdong vs National level2

 

Finance/Real estate

  • Seeking to turn GBA into a global financial hub, China’s regulators unveiled 26 measures to facilitate cross-border transactions and investment between Hong Kong, Macau and nine cities in GBA.
  • Focus sectors: bank & insurance, property development, etc.

 

Government’s financial support measures3

 

Infrastructure

  • Thanks to well-developed crossboundary transportation networks and facilities, GBA’s community connection and mobility are improving under the “one-hour living circle”.
  • Focus sectors: airport/expressway, utilities services (e.g. water/gas/ electricity supply), etc.

 

Infrastructures improve community connection4

For illustrative purposes only.

 

Fixed income: A wide range of income opportunities

  • Chinese corporate bonds, including high yield (HY) and investment grade (IG) could provide stable and relatively attractive yield for the investment portfolio.
  • Variety of China’s IG bonds could provide opportunities for generating income for the investment portfolio. Bonds issued by financial and quasi-government institutions, might effectively cushion macro and geopolitical uncertainties. Bonds issued by infrastructures and utilities might benefit from the government’s economic stimulus.

Government and government related

Corporate (Investment grade)

Corporate (High yield)

China bonds offer relatively attractive yields5

 

Manulife Greater Bay Area Growth & Income Fund

2 assets to generate growth and income

By investing in two asset classes: equities and fixed income which are connected to the GBA, the Fund does not only tap on the region’s growth opportunities, but also generates income streams.

 

Investing for growth in equity and balanced with defensive positioning in bonds

Wide coverage in equities: capture GBA’s growth potential with four main growth themes
Feasible allocation in bonds: offer defensive and steady returns

 

Aims at monthly distribution

The Fund aims to make monthly distributions.

 

Dividend schedule

(The distribution amount is not guaranteed. Distribution may be paid out of capital. Refer to Important Note 5.)

 

Manulife's investment expertise7

30+ years

Investment experience by
lead fund manager

 

40+

Equities professionals
in Greater China8

 

70+

Fixed income
professionals in Asia8

* Manulife Greater Bay Area Growth & Income Fund was launched on 11 June 2018 and is the first Greater Bay Area Fund in Hong Kong.

  1. Source: 2018 data from OECD, Statistics Bureau of Guangdong Province and Shenzhen Statistics Bureau, 30 September 2020.
  2. Source: National Bureau of Statistics of China, CEIC, 31 December 2019.
  3. Source: The People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange, 15 May 2020.
  4. Source: Manulife Investment Management, 22 May 2020.
  5. Source: Bloomberg, as of 30 September 2020, US IG bonds were represented by ICE BofAML US Corporate Index, China bonds (HY & IG) were represented by J.P. Morgan Asia Credit Index-China.
  6. Source: Manulife Investment Management, as of 5 October 2020, refers only to Class AA (USD) Inc. 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. Dividend yield increases sharply due to the significant drop in NAV. Please refer to http://www.manulifefunds.com.hk for the historical distribution yield records.
  7. Source: Manulife Investment Management, as of 30 September 2020.
  8. 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.
    Note: some professionals may support additional asset classes.

 

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