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Important Notes:

  1. Manulife Hong Kong Series – Manulife STARS Income and Growth Fund (the “Fund”) invests in a portfolio of collective investment schemes which are authorized by the Securities and Futures Commission of Hong Kong and/or Qualified Exchange Traded Funds (as defined in the Prospectus) , which may involve equity market, emerging markets, Dim Sum bond market, concentration, liquidity, credit, credit ratings, below investment grade and unrated securities, credit rating downgrading, interest rates, valuation, sovereign debt, currency, foreign exchange, derivative and structured product, hedging, and distribution 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 capital and/or out of gross income of the Fund in respect of Inc classes, while charging/paying all or part of the Fund’s fees and expenses to/out of capital of the Fund. This represents a return or a withdrawal of part of an investor’s original investment amount or capital gain attributable to that amount. Distributions will result in an immediate decrease in the net asset value of the relevant units. Class AA (RMB) Inc Hedged Unit is subject to higher distribution risks than other non-hedged unit classes.
  3. The Fund is subject to the risks of investing in other funds, the risks relating to investment in exchange traded funds, Strategic and Tactical Asset Rebalancing Strategy (“STARS”), small- and mid-capped companies, convertible bonds and the risks associated with securitised debt instruments and investments in loss-absorption features.
  4. As RMB is not freely convertible, currency conversion is subject to exchange controls, and restrictions. There can be no assurance that RMB will not be subject to devaluation. Insufficient amount of RMB for currency conversion or devaluation of RMB could adversely affect the value of investors’ investments in the RMB denominated class(es) of the Fund. The “Dim Sum” bond market is still a relatively small market which is more susceptible to volatility and illiquidity.
  5. The reference to “STARS” in the Fund’s name is not indicative of the Fund’s performance or returns.
  6. The Fund will not have direct investments other than cash, cash equivalents and financial derivative instruments (such as futures, options and forwards).
  7. Investment involves risk. The Fund may expose its investors to capital loss. Investors should not make investment decisions based on this material alone but should read the offering document for details, including the risk factors, charges and features of the Fund and its unit classes.
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A STAR design constructed with investment expertise

Manulife STARS Income and Growth Fund – Aiming to be your one-stop-shop solution for financial peace of mind

 

One-stop-shop solution aiming to help investors meet their financial goals and achieve financial peace of mind

 

Invest in multiple and specialised funds with a single product

 

Managed by our Multi-Asset Solutions Team with over 25 years of experience in managing multi-asset portfolios

 

An extra level of diversification via underlying funds

Active asset allocation seeking to maximise income and growth

Regions, sectors and asset classes perform and correlate differently under different market conditions.

A well-balanced multi-asset portfolio can navigate through market cycles and effectively grasp valuable investment opportunities.

With our proprietary Strategic, Tactical, Asset allocation, Rebalancing Strategy, the Fund aims to provide income and potential for capital appreciation by tapping into a broad opportunity set of asset classes.

Combining our expertise in the selection of quality fund managers and multi-asset investing

Dedicated Global Manager Research Team

Select funds from across different regions, sectors and asset classes

 

Tailored search criteria
In-depth quantitative and qualitative analysis
Fund selection and on-going monitoring

Multi-Asset Solutions Team

Construct the STARS portfolio

 

Employs a proprietary optimisation process
Utilises our forward-looking strategic views
Tactically adjusts for short-term market considerations
Adjusts for underlying manager style bias

Key investment themes

Based on our Multi-Asset Solutions Team’s long-term and tactical views, the Fund aims to invest strategically for long-term growth, while simultaneously navigating short-term market dynamics. Watch our experts’ insights and strategies that can help you discover income and growth.

 

Our strategic, longer-term asset-class preferences

We expect higher returns in emerging market equities and fixed income (including Asia ex-Japan) over the US and Europe.

We are constructive on high-quality emerging market bonds relative to US high-yield bonds and loans – the carry of emerging market bonds is more favourable and stands out from a total return perspective within the fixed income universe.

We favour global credit (both investment grade and high yield). As such, we will maintain a healthy exposure to US high-yield names.

Key allocation

Emerging Market Equities
We currently hold a relatively positive long-term strategic view on emerging market equities versus those in developed markets. Across the universe of emerging market managers, our portfolio invests in the JPMorgan Funds – Emerging Markets Opportunities Fund, with additional diversification benefits coming from another reputable emerging market manager, the Schroder International Selection Fund – Emerging Markets.

Mainland China and Hong Kong Equities
Within the emerging markets, Mainland China and Hong Kong equities exhibit lower volatility and display more defensive characteristics. Our portfolio invests in the Manulife Global Fund – Dragon Growth Fund which has flexible and dynamic allocations across all types of Chinese stocks including A, B, H, Red and P chips, ADRs and Hong Kong equities.

Emerging Market Investment Grade Bond
Emerging market debt, especially high grade, stands out from a total return perspective within the fixed income universe. Our portfolio invests in the JPMorgan Funds – Emerging Markets Investment Grade Bond Fund which has exposure to a broad range of both sovereign and corporate credit.

Preferred Securities
The lower-for-longer interest rate environment suggests that investors will be increasingly reliant on spreads for all-in yields to drive returns going forward. In particular, we think that preferred spreads remain attractive, given their laggard status among other fixed income spread recoveries. Our portfolio invests in the Manulife Global Fund – Preferred Securities Income Fund, one of the key fund managers in this asset class which also aims to adopt a relatively defensive approach versus peers.

 

US High Yield Bond
We believe that near-term monetary policy will remain supportive of US corporates and our portfolio maintains a healthy exposure to US high yield via the Fidelity Funds – US High Yield Fund, a highly diversified portfolio with a long track record.

 

Strategy highlights

The Fund consists of multiple strategies which are driven by different expertise. These strategies are specially selected to navigate through market cycles while complying with a rigorous investment process, helping you capture income and growth. Watch the experts to share their analysis and find out more about characteristics, performance, and outlook of the strategy. The following videos are available in Chinese only.

Manulife’s investment expertise

25+ years

History of managing multi-asset solutions

50+

Investment professionals in multi-asset solutions team across the world

USD141.8 billion2

in AUM of multi-asset solutions

Source: Manulife Investment Management, as of 30 September 2020.

*Manulife Hong Kong Series – Manulife STARS Income and Growth Fund (Manulife STARS Income and Growth Fund or the “Fund”). STARS is an acronym for Strategic and Tactical Asset Rebalancing Strategy. The reference to “STARS” in the Fund’s name is not indicative of the Fund’s performance or returns.

 

  1. For illustrative purposes only and subject to change.
  2. AUM in US dollars and includes all asset allocation, index and liability driven investing (LDI) assets. $39.9B is invested into other Manulife IM strategies outside the Multi-Asset Solutions Team.

 

Investment involves risk. Investors should not make investment decisions based on this material alone and should read the offering document for details, including the risk factors, charges and features of the product. This material has not been reviewed by the Securities and Futures Commission. Issued by Manulife Investment Management (Hong Kong) Limited.

 

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