Canadian asset manager Manulife Investments has launched a Singapore equities fund under the city state’s S$5 billion (US$3.88 billion) equities market development programme or EQDP.
The Manulife Singapore Opportunities Income Fund will be actively managed, aiming for both dividend income and capital appreciation, and will be benchmarked against the FTSE ST All-Share Index.
The fund will invest exclusively in Singapore-listed equities and equities-related securities of varying sizes, with particular emphasis on small and mid-cap firms “where lower coverage and persistent valuation inefficiencies create a compelling opportunity set”, Manulife Investments says in a statement on March 4.
Stocks will be picked through a bottom-up approach with “a strong emphasis on identifying clear catalysts for potential re-rating”.
Manulife was one of nine asset managers chosen for the EQDP last year by the Monetary Authority of Singapore (MAS).
The programme is aimed at channelling money to asset managers with strong track records to invest in Singapore’s stock market.
The scheme was proposed in 2024 by a review group set up by MAS to recommend measures to make the local stock market more attractive for investors.
