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Account types and fees

To match your investment style, Manulife InvestChoice offers two types of accounts: Asset-based Account and Trade-based Account. Select the account that best suits your investment habit, and enjoy a fruitful investment experience.

For Manulife funds, please refer to the Prospectus for fund fees.

Asset-based Account provides flexibility when rebalancing portfolios

Asset-based Account offers a unique fee structure. No transaction fees are charged for any fund subscriptions or switches. Instead, an annual fee will be charged based on your account’s average assets under management. An Asset-based Account is most suitable for clients who rebalance their portfolio on a regular basis1.

Trade-based Account allows easy and direct fund transactions

With Trade-based Account, relevant transaction rates will be determined based on your account’s assets under management, and a one-time transaction fee will be charged for each transaction. A Trade-based Account is most suitable for clients who prefer to “buy and hold”.

 
Asset-based Account
Trade-based Account5

Annual fee

Average AUM3

Fee (p.a)4

N/A

≥HK$10M

0.80%

HK$5M - < HK$10M

1%

HK$1M - < HK$5M

1.50%

< HK$1M

2%

(subject to a minimum charge of HK$1,200)

Front-end fee

N/A

AUM6

Fee7

≥HK$10M

0.80%

HK$5M - < HK$10M

1%

HK$1M - < HK$5M

1.50%

HK$500K - < HK$1M

2%

<HK$500K

3%

Switching fee

N/A

Charged 1% on amounts switched from any fund8

Exit charges

Exit period

Fee

N/A

1st year

2.50%

2nd year

2%

3rd year

1.50%

Asset transfer-in

Annual fee shall apply

Front-end fee shall apply

Asset transfer-out2

Exit charges shall apply to any units held which are transferred-out in the first three years. Any unit held and transferred-out after the 3rd year shall be subject to a fee of 1% on AUM.

Any unit transferred-out shall be subject to a fee of 1% on AUM.

Minimum investment amount requirements per fund shall apply to each of the Manulife InvestChoice accounts as follows (or equivalent in relevant currency):
(i) Initial minimum subscription amount is HK$20,000
(ii) Subsequent minimum subscription/switching amount is HK$10,000
(iii) Minimum redemption amount is HK$10,000, or your remaining holdings in a fund
(iv) Minimum holding is HK$10,000.

Annual fee

 

Asset-based Accounts

An annual fee is charged on the fund holdings at a fee rate which is based on the Average AUM, and collected monthly as follows:

 

Average fund holdings in Asset-based Account

Average fund holdings

in Asset-based Account

x

Fee

x

No. of calendar days in charging month

No. of calendar days in charging year

 

A minimum charge of HK$1,200 per annum will apply, to be collected monthly, i.e. the minimum monthly charge is HK$100.

 

Trade-based Account

An account maintenance fee of HK$1,200 per annum will be charged, to be collected monthly where the Trade-based Account has no fund holdings for the past 2 years, notwithstanding any holdings in the cash account.

Exit charges for Asset-based Accounts

 

Exit charges will be applied to and deducted from the invested cash9, if withdrawn from the Asset-based Account within the first three years of investment, and will be charged on the original value at the time of the investment.

Instruction to withdraw cash (including invested cash) will be processed on a first-in first-out basis. Cash will be withdrawn from the free of exit charges pool, and if this is used up, it will be withdrawn from the invested cash.

Free of exit charges pool will not be subject to exit charges, which consist of :

  • new cash deposits
  • dividend income generated from fund holdings
  • cash which has not previously been invested in any fund
  • interest paid on balance in your cash account
  • redemption proceeds in relation to investments in any fund over three years

1 Frequent trading and market timing activities may be limited by Manulife and third party funds providers in the interest of the funds. Short term or excessive trading into and out of the funds may harm performance by disrupting portfolio management strategies and by increasing expenses.
2 The fee for transfer-out of assets from the Manulife InvestChoice account will be based on the prevailing market value of units being transferred-out.
Average AUM (asset under management) is the daily average holdings in all Manulife InvestChoice accounts, including related cash accounts, for the charging month.
4 Subject to minimum charge of HK$1,200
5 An account maintenance fee of HK$1,200 per annum will be charged, to be collected monthly where the Trade-based Account has no fund holdings for the past 2 years, notwithstanding any holdings in the cash account.
6 AUM is asset under management
7 Charged on subscription amounts via New Investments. Fee rate is based on total holdings in all your Manulife InvestChoice accounts, including related cash accounts, at point of subscription. New Investments means investments in funds via (a) cash which has not previously been invested in any fund and/or (b) asset transfer-in.
8 Subscriptions via cash identified as having been invested in any fund in the past shall be treated as switching orders.
9 Invested Cash is any cash including any redemption monies identified as having been invested in any fund in the past three years.

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