Manulife Asset Management and Trust Corporation has launched three actively-managed Unit Investment Trust Funds (UITFs) in the Philippines.
The funds – Manulife Stable Income Fund, Manulife Income Builder Fund, and Manulife Equity Wealth Fund – have been designed to provide diversified investment exposure based on different risk and return objectives, said the firm.
Manulife Asset Management and Trust Corporation secured its certificate of authority to operate trust and other fiduciary business in the Philippines in June 2017 – becoming the first trust corporation in the country backed by a leading multinational financial services group.
“With the launch of the trust company and the new UITF products, we are poised to ride the robust growth momentum in the Philippines’ fund industry, which saw AUM held by UITFs grow by 31% over the past three years,” said Michael Dommermuth, head of wealth and asset management at Manulife in Asia.
Over the short-term, Aira Gaspar, president and chief executive officer, Manulife Asset Management and Trust Corporation, said the passage of the country’s tax reform package could provide the much-needed catalyst for the local stock market to continue its upward trend.
“The bond market on the other hand, is expected to gain support from well-anchored inflation expectations,” he added. “Bonds remain an ideal investment option for a diversified portfolio.”
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