Manulife IM launches global REIT feeder fund

MANULIFE Investment Management and Trust Corp. (Manulife IM – Philippines) launched a new unit investment trust fund focused on global real estate investment trusts (REITs) to yield a steady flow of rental income and dividends.

Manulife IM said its Manulife Global REIT Feeder Fund will invest at least 70% of its total assets in REITS listed across international markets, while the rest will go to other global real estate securities or other cash equivalents.

The fund is available in both peso- and dollar-denominated share classes for minimum investments of P50,000 and $1,000.

“Global REITs provide an alternative source of income, which has become even more important with interest rates expected to remain low for longer,” Manulife IM President and CEO Aira Gaspar said in a statement.

“They typically generate stable rental income, enabling attractive dividend payouts. At the same time, their historically low correlation with other major asset classes can provide diversification benefit to an investment portfolio,” she added.

Manulife’s asset management arm recently launched its Global Healthcare Equity Feeder fund that invests mainly in health-related industries internationally, and the Global Multi-asset Diversified Income Feeder fund, which aims to generate income for investors who want to have a buffer against market volatility.

Ms. Gaspar earlier said they are looking to launch two new offshore funds this year that will take advantage of the changes brought about by the ongoing coronavirus pandemic. — BML