BUSINESS

MANULIFE LAUNCHES ASEAN EQUITY FUND

21/10/2019 07:34 PM

KUALA LUMPUR, Oct 21 -- Manulife Asset Management Services Bhd has launched the Manulife ASEAN Equity Fund to cater to investor demand to capitalise on burgeoning opportunities from the growing significance, economy, investment, and population of ASEAN.

In a statement, Manulife said the fund is a wholesale feeder fund that invests at least 95 per cent of its net asset value into the JPMorgan Funds - ASEAN Equity Fund that focuses on providing long-term capital growth by investing primarily in the companies of ASEAN member countries.

The ASEAN trade bloc is becoming a significant trade centre as companies shift their supply chain to the region for its cost and competitive advantage.

It is also the world’s third largest recipient of foreign direct investment, of which the funds are invested in a diverse range of industries, including manufacturing, wholesale and retail services, healthcare, R&D, e-commerce, and Fintech.

Manulife chief executive officer Jason Chong said ASEAN’s supportive macroeconomic backdrop, strong fundamentals, and improving corporate earnings help paint a rosy outlook for the sub-region.

“This is a phenomenon that has been in the making for some time, and we feel that it now presents a clear and stable path for Malaysian investors to reap the benefits from our neighbouring countries’ economic success,” he added.

-- BERNAMA


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