Manulife launches REIT fund of funds
Manila – Manulife Asset Management and Trust Corporation (MAMTC) announced the launch of Asia Pacific REIT Fund of Funds (the ‘Fund’).
The Fund is a unit-paying equity fund of funds that seeks to achieve longterm capital appreciation and generate income by investing primarily in a diversified portfolio of exchange-listed real estate investment trusts (REITs) in the Asia Pacific region and other allowable investments.
The Fund provides investors access to a diversified portfolio of REITs covering a selected mix of quality REIT holdings across AsiaPacific. The Fund's total return objective coupled with the investment team's expertise in security selection and risk management provides the potential for steady income distribution and long-term growth.
“The Asia Pacific property sector comprises a well-diversified mix of good quality retail, commercial, and industrial asset. The securitization of the real estate market is still in its growth phase, underpinned by the increasing trend of investors embracing cross-border assets, as well as the growth in listed REIT markets over the past 15 years across Singapore, Hong Kong and Australia markets. We believe that investments in REITs can continue to provide diversification benefits to traditional portfolios consisting of fixed income and equity,” Aira Gaspar, President and Chief Executive Officer of MAMTC, said.
The Fund’s lead portfolio manager is Hui Min Ng and is supported by the broader equity team in Singapore, as well as an established network of research sharing from offices across Asia. The investment process is grounded in rigorous bottom up fundamental research that helps identify quality REIT opportunities in Asian markets with strong fundamentals.
“We are positive on the rental outlook for office, retail and hospitality segments in Asia REITs. Office assets supply in Singapore and Australia are reaching full occupancy with limited or no new completions in the short term to medium term. Tourism is expected to pick up in Hong Kong and Singapore which could boost retail sales and demand for hotel accommodation. All these mean commercial landlords and hoteliers could have greater command on rental rate revisions over the next few years, and provide REIT investors with steady income growth,” said Hui Min Ng, Portfolio Manager, Equities, Manulife Asset Management Singapore (Pte.) Ltd.
The Fund is available for investment in US Dollar (USD) and Philippine Peso-Unhedged (PhP) Share Classes, with minimum initial investment of USD1,000 and PhP50,000, respectively.