Manulife Global Fund - Asia Total Return Fund AA Inc USD

宏利環球基金 - 亞洲總回報基金 AA類 Inc 美元

LU0507748050

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD25,000.00Min. Subscription

1.25%

HKD5,000.00Min. Subscription

HKD / USD

HKD25,000.00Min. Subscription

HKD25,000.00

HKD25,000.00

Daily

15:30

2019-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.60%
3 mth
+1.02%
6 mth
+1.86%
1 yr
+7.92%
3 yr
+8.53%
5 yr
+13.58%

Analytical Figures (3 years)

Annualized Return
+2.77%
Annualized Volatility
+3.78%
Sharpe Ratio
+0.25

Fund Information

Fund Houses
Manulife Asset Management (Hong Kong) Limited
Launch Date
2011-05-03
Fund Manager
Endre Pedersen
Manager Start Date
Endre Pedersen (Start Date: 2009-09-28)
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Fixed Income - Hybrid
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-09-18)
USD 161,497,540.93
Management Fee
1.25%
Latest Dividend
USD 0.003300 (2019-09-08)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD25,000.00Min. Subscription

1.25%

HKD5,000.00Min. Subscription

HKD / USD

HKD25,000.00Min. Subscription

HKD25,000.00

HKD25,000.00

Daily

15:30

2019-09-30

Dividend Records

Dividend DateDividend Records (USD)
2019-09-080.003300
2019-08-070.003300
2019-07-080.003300
2019-06-110.003290
2019-05-090.003290
2019-04-080.003290
2019-03-070.003290
2019-02-120.004000
2019-01-080.004000
2018-12-090.004000
2018-11-080.004000
2018-10-070.004000
2018-09-090.004000
2018-08-070.004000
2018-07-080.004000
2018-06-070.004000
2018-05-080.004000
2018-04-090.004000
2018-03-070.004000
2018-02-070.004000
2018-01-080.004000
2017-12-070.004000
2017-11-080.004000
2017-10-100.004000
2017-09-070.004000
2017-08-310.004000
2017-08-070.004000
2017-08-010.004000
2017-07-090.004000
2017-06-080.004000
2017-05-090.004000
2017-04-100.004000
2017-03-070.004000
2017-02-070.004000
2017-01-080.004000
2016-12-110.004700
2016-12-070.004000
2016-11-080.004000
2016-11-060.004000
2016-10-300.000367
2016-10-110.004000
2016-09-070.004000
2016-08-070.004000
2016-07-100.004000
2016-06-070.002537
2016-05-100.001848
2016-04-100.002306
2016-03-070.002678
2016-02-110.002308
2016-01-100.002490
2015-12-070.002560
2015-11-080.002224
2015-11-010.001471
2015-10-080.001950
2015-09-070.002000
2015-08-090.002063
2015-07-090.002373
2015-06-080.002402
2015-05-100.002616
2015-04-090.002094
2015-03-080.001599
2015-02-230.002321
2015-01-190.002554
2014-12-150.001959
2014-11-170.002220
2014-11-030.001384
2014-10-200.002088
2014-09-150.003880
2014-08-180.002714
2014-07-140.002537
2014-06-160.002446
2014-05-190.002713
2014-04-140.002501
2014-03-170.003235
2014-02-170.002790
2014-01-130.003190
2013-12-160.002370
2013-11-180.002628
2013-10-210.002684
2013-09-230.002561
2013-08-120.002750
2013-07-150.001965
2013-06-170.002435
2013-05-210.002478
2013-04-150.002127
2013-03-210.002009
2013-02-180.002253
2013-01-140.002144
2012-12-170.004474
2012-11-190.001477
2012-10-280.000753
2012-10-150.000892
2012-09-170.002466
2012-08-220.002600
2012-08-200.002601
2012-07-160.002311
2012-06-180.002327
2012-05-140.002976
2012-04-160.002252
2012-03-120.002480
2012-02-130.002539
2012-01-160.002496
2011-12-120.002421
2011-11-140.002523
2011-10-170.002079
2011-09-130.002532
2011-08-160.002244
2011-07-100.002507
2011-06-140.000908

Investment Objective

Asia Total Return Fund aims to maximize total returns from a combination of capital appreciation and income generation.
The Sub-Fund invests at least 70% of its net assets in a diversified portfolio of fixed income securities, issued by governments, agencies, supra-nationals and corporate issuers in Asia. As part of the above investments, the Sub-Fund may invest less than 30% of its net assets in RMB-denominated debt securities that are circulated in the China interbank bond market via Bond Connect.
The Sub-Fund may also invest (up to 30% of its net assets) in cash and fixed income securities of other issuers outside Asia if the Investment Manager considers that such securities will achieve the goal of maximizing capital appreciation and income generation. While the Sub-Fund will invest in accordance with its investment objective and strategy, subject to applicable laws and regulations, the Sub-Fund is not otherwise subject to any limitation on the portion of its net assets that may be invested in any one country or sector. Hence, the Sub-Fund may invest more than 30% of its net assets in issuers located in the PRC.

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus which forms part of the Hong Kong Offering Document for details including the risk factors.
1. Investment Risk: The Sub-Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Sub-Fund may suffer losses. There is no guarantee of the repayment of principal.
2. Mainland China Investment Risk:
Investing in the securities markets in Mainland China is subject to the risks of investing in emerging markets generally as well as to specific risks relating to the Mainland China market. Investing in Mainland China-related companies involves certain risks and special considerations not typically associated with
investment in more developed economies or markets, such as greater political, tax, foreign exchange, liquidity and regulatory risk.
3. Investments via Bond Connect:
Investing in the China interbank bond market via Bond Connect is subject to regulatory risks and other risks such as volatility risk, liquidity risk, settlement and counterparty risk, and risks typically applicable to debt securities. Bond Connect is a new programme. The applicable rules and regulations are untested and are subject to change from time to time. There can be no assurance that the Bond Connect will not be restricted, suspended or abolished. In the event that the relevant PRC authorities suspend account opening or trading on the China interbank bond market, the Sub-Fund’s ability to invest in the
China interbank bond market will be adversely affected. Further, there can be no assurance that the trading platforms and operational systems of Bond Connect will function properly. Bonds acquired through Bond Connect are held under a nominee arrangement. How a beneficial owner (such as the Sub-Fund) of the relevant bonds exercises and enforces its rights over such securities in the courts in China is yet to be tested. The Sub-Fund may suffer significant losses when there is any failure or default in relation to investments under Bond Connect.
4. Interest Rate Risk:
When interest rates rise on certain currencies that the bonds are denominated in, the value of the bonds may reduce, resulting in a lower value for the relevant portfolio.
5. Credit Risk: This refers to the risk that a debt issuer will default, by failing to repay principal and interest in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline.
6. Currency Risk: The Sub-Fund’s assets may be invested primarily in securities denominated in currencies other than U.S. Dollars and the Sub-Fund may receive income or realization proceeds from these investments in those currencies, some of which may fall in value against U.S. Dollars.
7. Volatility and Liquidity Risk:
The debt securities in Asian markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations. The bid and offer spreads of the price of such securities may be large and the Sub-Fund may incur significant trading costs.
8. High-Yield Bonds Risk: The Sub-Fund may invest in higher-yielding debt securities rated lower than investment grade, or if unrated, their equivalent. As such, an investment in the Sub-Fund is accompanied by a higher degree of credit, volatility and liquidity risks than high-rated debt securities.
9. Sovereign Debt Risk The Sub-Fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or interest when due or may request the Sub-Fund to participate in restructuring such debts. The Sub-Fund may suffer significant losses when there is a default of sovereign debt issuers.
10. Credit Rating and Downgrading Risk
Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times. In any event, the credit rating of a debt security or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the Sub-Fund may be adversely affected. The Investment Manager may or may not be able to dispose of the debt securities that are being downgraded.
11. Emerging Markets Risk:
In respect of certain emerging economies or markets in which the Sub-Fund may invest, it may be exposed to higher risks than in developed economies or markets, in particular for the acts or omissions of its service providers, agents, correspondents or delegates. Accounting, auditing and financial reporting standards, practices and disclosure requirements applicable to some companies in the emerging economies or markets in which the Sub-Fund may invest may differ from countries with more developed financial markets. The value of the Sub-Fund’s assets may also be affected by uncertainties such as changes in government policies, taxation legislation, currency repatriation restrictions and other developments in politics, law or regulations of the emerging economies or markets in which the Sub-Fund may invest. Further, certain emerging economies are exposed to the risks of high inflation and interest rates, large amount of external debt; and such factors may affect the overall economy stability.
12. Collateralised/Securitised Products Risk:
The Sub-Fund may invest in collateralised and securitised structured products, including asset-backed securities and mortgage-backed securities. These securities provide exposure to underlying assets and the risk/return profile is determined by the cash flows derived from such assets. In a volatile market, these securities may display heightened price sensitivity to market fluctuations and have higher liquidity and credit downgrading risks.
13. Non-Investment Use of FDIs:
The extensive use of FDIs does not form part of the investment strategy of the Sub-Fund, but the Investment Manager may from time to time utilize FDIs for efficient portfolio management and hedging purposes. The use of derivatives exposes the Sub-Fund to additional risks, including: (i) volatility risk – FDIs may be highly volatile; (ii) management risk – the results are reliant upon the success of the Investment Manager in making investment decisions in the prevailing market conditions; (iii) market risk – there is a risk from exposures to changes in market value of FDIs; (iv) credit risk – the Sub-Fund is exposed to the risk of loss resulting from a counterparty’s failure to meet its financial obligations; and (v) liquidity risk – which exists when
particular investments are difficult to be purchased or sold quickly. The eventuation of any of the above risks could have an adverse effect on the net asset value of the Sub-Fund. In adverse situations, the Sub-Fund’s use of FDIs may become ineffective in efficient portfolio management or hedging and the Sub-Fund may suffer significant losses.
14. Risks relating to Dividends Paid or Effectively Paid out of Capital:
The Directors of Manulife Global Fund may, at their discretion, pay dividends (i) out of income, realized capital gains and/or capital, of the Sub-Fund in respect of Class AA Inc, Class AA (AUD Hedged) Inc, Class AA (CAD Hedged) Inc and Class AA (HKD) Inc Shares and (ii) out of realized capital gains, capital and/or gross income while charging all or part of their fees and expenses to capital, of the Sub-Fund in respect of Class AA (USD) MDIST (G), Class AA (AUD Hedged) MDIST (G) and Class AA (HKD) MDIST (G). Dividends paid or effectively paid out of capital of the Sub-Fund (if any) would 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. Any distributions involving payment of dividends out of the Sub-Fund’s capital may result in an immediate decrease in the net asset value per Share of the above Classes of the Sub-Fund. The dividends and the net asset value of each of Class AA (AUD Hedged) Inc, Class AA (CAD Hedged) Inc and Class AA (AUD Hedged) MDIST (G) may be adversely affected by the differences in the interest rates of the reference currency of such share class and the Sub-Fund’s base currency, resulting in an increase in the amount of dividends that is paid out of capital and hence a greater erosion of capital than other share
classes.

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