Manulife Asset Management (Taiwan) has unveiled a new multi-asset FOF (fund of funds) to invest primarily in global equity and bond sub-funds.
Known as Manulife Global Dynamic Asset Allocation Fund, the new fund will follow a flexible dynamic asset allocation strategy to invest in global equity and bond sub-funds.
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The fund has been designed to meet the growing demand for retirement planning products in Taiwan.
Thomas Cheong, CEO of Manulife Asset Management (Taiwan), said: "With a monthly dividend distribution mechanism in place, it is targeted at individuals looking to mobilise their financial wealth to supplement other regular sources of household income.
"A dynamic asset allocation strategy can be one way to potentially capture higher returns without exposing investment capital to undue risks," he added.
Taiwanese households distribute roughly 40% of their financial wealth to bank deposits, which are said to have historically delivered real returns of -0.7% per annum, according to Manulife Asset Management’s proprietary Ageing Asia series of research.
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By GlobalDataCheong said: "With 40% of assets under management in the mandatory provident scheme business in Hong Kong invested in mixed-asset ‘lifestyle’ funds, observations suggest that there is growing appetite for mixed-asset funds for retirement planning purposes.
"Locally, we were the first company in Taiwan to launch an investment fund based on a target-risk asset allocation strategy under a discretionary investment-oriented insurance product. This product has been well received by investors," he added.
