Quarterly Fund Fact Sheet 季度基金概覽 - Manulife

Quarterly Fund Fact Sheet Manulife Global Select (MPF) Scheme Quarterly Fund Fact Sheet
As at September 30, 2021 | 2021 9 30 : •

• MPF MPF 65
• MPF MPF 3.4.2 MPF 7.2.4(b) MPF 3.4.1 MPF 7.2.4(c) MPF
• MPF
• 65
•
•
•
Important to note: You should consider your own risk tolerance level and financial circumstances
before making any investment choices. When, in your selection of constituent funds or the Default Investment Strategy (“DIS”), you are in doubt as to whether a certain constituent fund or the DIS is suitable for you (including whether it is consistent with your investment objectives), you should seek independent financial and/or professional advice and make investment choices most suitable for you taking into account your circumstances.
The asset allocation of the Manulife MPF Core Accumulation Fund and the Manulife MPF Age 65 Plus Fund (“DIS CFs”) in the DIS and some of the constituent funds which are referred to as the Retirement Funds will change over time and hence the risk profile and return will also change over time. The DIS CFs or the Retirement Funds may not be suitable for all Members. You should understand the relevant risks involved before investment and consider factors other than age and review your own investment objectives.
The Manulife MPF Interest Fund and the Manulife MPF Stable Fund (collectively the “Guaranteed Funds”) under the Scheme each invests solely in approved pooled investment funds in the form of insurance policy provided by Manulife (International) Limited. The guarantee is also given by Manulife (International) Limited. Your investments in the Guaranteed Funds, if any, are therefore subject to the credit risks of Manulife (International) Limited. Please refer to sections 3.4.2 (Manulife MPF Stable Fund (the “Stable Fund”)) and 7.2.4(b) (Manulife MPF Stable Fund) and sections 3.4.1 (Manulife MPF Interest Fund (the “Interest Fund”)) and 7.2.4(c) (Manulife MPF Interest Fund) of the MPF Scheme Brochure for details of the credit risks, guarantee features and qualifying conditions.
The Manulife MPF Retirement Income Fund (the “Retirement Income Fund”) does not guarantee distribution of dividend, the frequency of distribution, and the dividend amount/yield. Dividends may be paid out of the realized capital gains, capital and/or gross income while charging/paying all or part of the fees, charges and expenses to/out of the capital, resulting in an increase in distributable income available for dividend distribution. Payment of dividends out of capital and/or effectively out of capital represent a withdrawal of part of the original investment or from any capital gains attributable to that original investment. Distribution of dividends will result in an immediate decrease or adjustment in the net asset value per unit of the Retirement Income Fund on the ex-dividend date.
Members who are below age 65 should note that the regular and frequent distribution of dividends and reinvestment of such dividends into the Retirement Income Fund will inevitably involve an investment time-lag during which dividends are not reinvested and it is subject to out-of-market risk on a recurring basis (currently, on a monthly basis). With the feature of dividend distribution, the return of the Retirement Income Fund for these Members may be impacted negatively or positively as its net asset value per unit may have gone up or down at the time when dividends are reinvested. Therefore the return of the Retirement Income Fund for these Members may deviate from that of a constituent fund with similar investment portfolio without such arrangement and may not always be advantageous to these Members.
Investment involves risks and not each of the constituent funds would be suitable for everyone. You should consider the risks associated with each of the constituent funds and the DIS and your investments/accrued benefits may suffer loss.
Before making your investment choices, you should read the MPF Scheme Brochure for details including risk factors, fees and charges of the Scheme. You should not make your investment decision based on this document alone.
Past performance is not indicative of future performance. Investment involves risks. Please refer to the MPF Scheme Brochure for details including risk factors, fees and charges of the Scheme.
Quarterly Fund Fact Sheet As at September 30, 2021 | 2021 9 30
2
Equity Funds
MPF Code Launch Date 4
Risk / Return Meter 4
Φ Risk ClassΦ
Fund Details
1.92% Fund Descriptor
36,878.2 1 Risk Indicator1
14.51% Investment Manager of the Underlying Investment
Manulife Investment Management (Hong Kong) Limited
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • •

• To provide long term capital growth • Invests on a diversified basis mainly in shares of
companies in health care and related industries, covering mainly in pharmaceutical, healthcare equipment & services, food & drug retails, managed care business and biotechnology sectors
Securities Holdings (%)
2. Abbott Laboratories 6.57%
4. AstraZeneca PLC 5.88%
6. Thermo Fisher Scientific Inc. 5.46%
7. Johnson & Johnson 4.90%
8. Pfizer Inc. 4.23%
10. Medtronic PLC. 3.06% .
Cumulative Return (%) Annualized Return (% p.a.) Calendar Year Return (%)
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 0.75 8.46 15.32 23.94 43.57 194.90 172.43 7.42 7.50 11.42 7.71 -7.31 14.47 -1.70 17.04 7.25 () 5 Dollar Cost Averaging (For illustration only) 5 6.81 18.58 27.04 54.97 92.45 11.37 9.51 8.48 9.18 -3.25 5.49 -2.97 9.42 9.75
Φ Risk ClassΦ
Fund Details
• To provide medium to long term capital growth • Invests in shares of companies covering different
sectors of the Asia Pacific markets, excluding Japan and which are listed on any stock exchange
1. TSMC 6.97%
4. CSL Limited 2.30%
7. AIA Group Ltd. 2.13%
8. Tencent Holdings Ltd. 2.08%
9. Infosys Ltd. 2.01%
10. National Australia Bank Ltd. 1.69% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -7.10 0.62 21.66 29.62 59.90 97.00 222.04 9.03 9.84 7.02 5.77 4.53 35.48 -13.25 15.03 23.16 () 5 Dollar Cost Averaging (For illustration only) 5 1.01 23.03 29.03 50.19 111.31 13.92 10.13 7.89 6.66 2.99 15.78 -11.17 7.73 28.52
3
Φ Risk ClassΦ
Fund Details
1.96%§ Fund Descriptor
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • • (
( ) ( ) ) ( )
• To provide medium to long term capital growth • Invests on a diversified basis mainly in shares
of companies covering different sectors of the economy in the Greater China region, including People's Republic of China, Hong Kong and Taiwan, and which are listed on any stock exchange subject to the restrictions in the MPF Schemes (General) Regulation (“Regulation“) and which have a value or growth proposition
1. TSMC 9.04%
3. Meituan-Dianping 4.89%
5. Alibaba Group Holding Ltd. 3.38%
6. Hong Kong Exchanges & Clearing Ltd. 2.91%
7. HSBC Holdings PLC. 2.06%
8. Wuxi Biologics Cayman Inc. 2.05%
9. Hon Hai Precision Industry Co. Ltd. 2.02%
10. China Merchants Bank Co., Ltd. 1.88% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -12.96 -8.24 5.26 21.77 53.44 110.91 214.79 6.79 8.94 7.75 7.59 -2.60 38.17 -14.45 19.94 22.67 () 5 Dollar Cost Averaging (For illustration only) 5 -7.63 11.93 19.11 42.18 66.20 7.45 6.93 6.84 6.17 3.40 17.05 -12.25 9.75 22.83
Φ Risk ClassΦ
Fund Details
• To provide medium to long term capital growth • Mainly invests in shares of companies listed
on Hong Kong Stock Exchange or companies covering different sectors of the economy in Hong Kong and which are listed on any stock exchange
7. China Merchants Bank Co., Ltd. 3.85%
8. China Construction Bank Corp. 3.08%
10. BYD Co. Ltd. 2.01% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -15.19 -10.80 4.31 12.19 38.36 100.78 161.88 3.91 6.71 7.22 4.73 -1.06 46.05 -17.98 14.40 21.11 () 5 Dollar Cost Averaging (For illustration only) 5 -9.25 6.60 11.11 32.30 86.62 4.19 4.16 5.46 5.61 2.12 22.43 -13.86 6.13 22.56
4
Risk / Return Meter 4 Φ Risk ClassΦ
Manulife MPF Hang Seng Index Tracking Fund SHK145 23-04-2012 6
Fund Details

• To provide medium to long term capital growth • Invests in shares of constituent companies of
the Hang Seng Index in substantially similar composition and weighting as they appear in the index through an approved index-tracking collective investment scheme (currently, the Tracker Fund of Hong Kong managed by State Street Global Advisors Asia Limited)
6. China Construction Bank Corp. 4.70%
9. Xiaomi Corp. 2.71%
10. Ping An Insurance 2.63% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -13.98 -8.28 5.80 -5.48 18.12
N/A 48.59 -1.86 3.39 N/A 4.29 2.26 39.20 -11.18 12.08 -1.59
() ∫∫∫ Hang Seng Index (Total Return) ∫∫∫ -13.88 -7.49 7.54 -2.74 24.84
N/A 68.47 -0.92 4.54 N/A 5.68 4.30 41.29 -10.54 13.04 -0.29
() 5 Dollar Cost Averaging (For illustration only) 5 -7.78 -4.26 -2.05
N/A 13.30 -2.80 -0.81 N/A 2.59 3.60 17.98 -9.51 4.50 10.26
Φ Risk ClassΦ
Fund Details
() Fund Size (Million HK$)
• To provide medium to long term capital growth • Invests in shares of companies covering
different sectors of the economy in Japan and which are listed on any stock exchange
1. HOYA Corp. 4.90%
2. KDDI Corp. 4.14%
3. Hitachi, Ltd. 3.75%
7. Seven & I Holdings Co., Ltd. 3.36%
8. Food & Life Companies Ltd 3.20%
9. Toyota Motor Corp. 3.13%
10. Sony Group Corporation 2.99% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 6.41 15.56 28.00 21.08 57.89 143.01 64.30 6.59 9.56 9.29 2.41 4.01 22.88 -17.39 20.91 4.61 () 5 Dollar Cost Averaging (For illustration only) 5 13.37 27.30 29.73 61.56 78.62 16.30 10.35 9.27 5.23 8.60 13.02 -15.18 11.05 15.45
5
Φ Risk ClassΦ
Fund Details
different sectors of the economy in Europe and which are listed on any stock exchange
1. ASML Holding 9.12%
3. Infineon Technologies 5.77%
4. Novo Nordisk 5.28%
5. Sika AG 4.80%
7. Hexagon AB 3.80%
8. SAP SE 3.74%
10. Zalando SE 3.38% .
3 Months
2016 2017 2018 2019 2020
Φ Risk ClassΦ Manulife MPF North American Equity Fund SHK130 01-12-2000 6
Fund Details
different sectors of the economy in North America and which are listed on any stock exchange
1. Amazon.com, Inc. 8.89%
2. Facebook Inc. 7.02%
3. Apple Inc. 5.55%
4. Microsoft Corp. 4.96%
8. Lennar Corp. 2.30%
10. UnitedHealth Group Inc. 2.15% .
3 Months
2016 2017 2018 2019 2020
6
Φ Risk ClassΦ
Fund Details
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • • •
• To provide medium to long term capital growth • Invests in global equities and equity-related
investment • Invests in any region such as North America,
Japan, Europe, other Pacific Asia region markets and Hong Kong
3. Apple Inc. 3.04%
9. Lennar Corp. 1.33%
10. UnitedHealth Group Inc. 1.19% .
3 Months
2016 2017 2018 2019 2020
Mixed Asset Funds
Φ Risk ClassΦ
Fund Details
Mixed Assets Fund - Global - Mainly in equities and equity-related investments
• To provide long term capital growth • Mainly invests in equities and equity-related
investments • Invests in any region such as America, Pacific Asia,
Japan, Europe, etc, with a relative bias towards Hong Kong and Pacific Asia region markets
Securities 8 8 Holdings (%)
5. TSMC 1.37%
10. Alibaba Group Holding Ltd. 1.13% .
3 Months
2016 2017 2018 2019 2020
7
Φ Risk ClassΦ
Fund Details
90% Mixed Assets Fund – Global – Approximately 90% in equities
( ) ( ) Manulife Investment Management (Hong Kong) Limited invests in the fund managed by FIL Investment Management (Hong Kong) Limited
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • • “
” 90%
•
• To provide long term capital growth • Invests as a feeder fund into the respective
APIF (“Approved Pooled Investment Fund”) and approximately 90% of the APIF will be invested in global equities with a bias towards Hong Kong
• Invests in the markets in Hong Kong, America, Europe, Japan and the Asia Pacific region
6. TSMC 1.15%
3 Months
2016 2017 2018 2019 2020
Φ Risk ClassΦ
Fund Details
50% 90% Mixed Assets Fund - Global - Around 50% to 90% in equities and equity-related investments
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • • 50% 90%

•
• To provide medium to long term capital growth • Invests around 50% to 90% in equities and equity-
related investments with the remaining assets in bonds, deposits and other investments as permitted under the Regulation
• Invests in any region such as America, Pacific Asia, Japan, Europe, etc.
6. TSMC 1.09%
.
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -4.23 1.88 13.54 22.70 42.66 85.77 139.59 7.06 7.36 6.39 4.28 -0.50 23.20 -11.39 14.78 15.14 () 5 Dollar Cost Averaging (For illustration only) 5 1.58 16.80 21.62 37.60 78.44 10.34 7.76 6.22 5.22 1.21 10.99 -9.97 6.83 16.97
8
Φ Risk ClassΦ
Fund Details
50% Mixed Assets Fund - Global - Approximately 50% in equities
Manulife Investment Management (Hong Kong) Limited invests in the fund managed by FIL Investment Management (Hong Kong) Limited
50% 45%
•
• To provide medium to long term capital growth • Invests as a feeder fund into the respective APIF
and approximately 50% of the APIF will be invested in global equities, approximately 45% of the APIF will be invested in global bonds with the remaining assets in cash deposits as permitted under the Regulation
• Invests in the markets in Hong Kong, America, Europe, Japan and the Asia Pacific region with a bias towards Hong Kong
1. Government of The USA 1.25% 15/08/2031 5.45%
2. Government of Germany 0.0% 15/02/2030 3.08%
3. Government of Germany 0.5% 15/02/2025 2.20%
4. Government of Germany SER 178 0.0% 13/10/2023 2.14%
7. Government of Japan 0.1% 10/03/2028 1.46%
10. Government of The USA 0.5% 31/03/2025 1.10% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -3.39 -1.20 7.34 17.74 29.83 62.66 151.62 5.59 5.36 4.99 5.24 0.61 17.42 -7.64 12.60 12.21 () 5 Dollar Cost Averaging (For illustration only) 5 -0.04 10.58 15.25 27.30 53.77 6.63 5.61 4.72 4.54 -0.26 8.47 -6.50 5.36 12.41
Φ Risk ClassΦ
Fund Details
N/A
Fund Descriptor
20% 60% Mixed Assets Fund - Global - Around 20% to 60% in equities and equity-related investments
N/A
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 •

• To provide regular and stable income by way of distribution of dividend, with the secondary objective of generating long-term capital growth, for Members who hold a longer term investment view and who are prepared to accept fluctuations in the value of their investments in order to achieve long- term returns.
1. TSMC 1.39%
9. HKCG (Finance) Ltd. 1.98% 08/10/2030 0.51%

Annualized Yield (%)
19-07-2021 20-07-2021 0.033 0.00% 100.00% 3.68% 18-08-2021 19-08-2021 0.033 0.00% 100.00% 3.74% 20-09-2021 21-09-2021 0.033 0.00% 100.00% 3.75%
3 Months
2 Fund Performance 2 -3.71 -1.90 6.32
N/A
N/A
N/A
N/A
N/A
N/A 8.36 () 5 Dollar Cost Averaging (For illustration only) 5 -0.80
N/A
N/A
N/A
N/A
N/A
N/A 7.06
9
Target Date Retirement Funds
MPF 2045 Code Launch Date 4
Φ Risk ClassΦ
Fund Details
100% Mixed Assets Fund – Global – max.100% in equities
•

• • To provide long term capital growth while lowering the
risk of loss as members approach their normal retirement age
• Designed for members expecting to attain their normal retirement age around 2045
• At launch, around 80%-100% of the underlying portfolio is invested indirectly in equities and equity- related investments, with the remainder of the assets in bonds, deposits and other investments as permitted under the Regulation
• Invests in regions such as America, Pacific Asia, Japan and Europe, etc.
5. TSMC 1.35%
3 Months
2016 2017 2018 2019 2020
Φ Risk ClassΦ
Fund Details
776.1 1 Risk Indicator1
•

• • To provide long term capital growth while lowering the
risk of loss as members approach their normal retirement age
5. TSMC 1.34%
3 Months
2016 2017 2018 2019 2020
10
Φ Risk ClassΦ
Fund Details
•

• • To provide long term capital growth while lowering
the risk of loss as members approach their normal retirement age
• At launch, around 80%-100% of the underlying portfolio is invested indirectly in equities and equity-related investments, with the remainder of the assets in bonds, deposits and other investments as permitted under the Regulation
5. TSMC 1.28%
10. Infineon Technologies 1.04% .
3 Months
2016 2017 2018 2019 2020
Φ Risk ClassΦ
Fund Details
95% Mixed Assets Fund – Global – max. 95% in equities
•

• At launch, around 75%-95% of the underlying portfolio is invested indirectly in equities and equity-related investments, with the remainder of the assets in bonds, deposits and other investments as permitted under the Regulation
6. TSMC 1.08%
3 Months
2016 2017 2018 2019 2020
11
Φ Risk ClassΦ
Fund Details
•

5. TSMC 0.86%
3 Months
2016 2017 2018 2019 2020
Φ Risk ClassΦ
Fund Details
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • • 40% 60%

• • To provide medium to long term capital growth • Invests on a diversified basis that around 40% to
60% of the underlying portfolio will be indirectly invested in equities and equity-related investments, with the remainder of the assets being indirectly invested in bonds, deposits and other investments as permitted under the Regulation
6. TSMC 0.81%
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -3.19 1.05 10.11 20.32 32.96 60.69 43.82 6.36 5.86 4.86 3.49 -1.33 18.43 -9.04 12.36 12.97 () 5 Dollar Cost Averaging (For illustration only) 5 1.10 13.46 17.71 28.57 29.40 8.36 6.46 4.91 4.72 -0.45 8.75 -7.51 5.67 13.39
12
Default Investment Strategy Funds
Φ Risk ClassΦ
Fund Details
60% 40% Mixed Assets Fund – Global – around 60% in higher risk assets and 40% in lower risk assets
( ) Manulife Investment Management (Hong Kong) Limited invests in the fund managed by Vanguard Investments Hong Kong Limited
60%
• To provide capital growth by investing in a globally diversified manner
• Mandated by the MPF Schemes Ordinance • Invests as a feeder fund into the respective
APIF which adopts a passive investment strategy and approximately 60% of the APIF will be invested in higher risk assets with the remaining assets in lower risk assets
1. Apple Inc. 1.99%
7. Tesla, Inc. 0.56%
9. TSMC 0.45%
10. Nvidia Corporation 0.44%
3 Months
2 Fund Performance 2 -0.61 5.49 14.61 28.68
N/A
N/A 8.32
N/A 9.52 -5.58 17.09 12.17 7 Reference Portfolio7 -0.67 5.26 14.16 27.90
N/A
N/A 8.22
N/A 9.74 -5.79 17.03 12.06 () 5 Dollar Cost Averaging (For illustration only) 5 4.74 18.59
N/A
N/A 9.39
N/A 5.25 -5.76 7.34 13.02
Φ Risk ClassΦ
Manulife MPF Age 65 Plus Fund SHK149 / DIS149 01-04-2017 3
Fund Details
20% 80% Mixed Assets Fund – Global – around 20% in higher risk assets and 80% in lower risk assets
( ) Manulife Investment Management (Hong Kong) Limited invests in the fund managed by Vanguard Investments Hong Kong Limited
20%
• To provide stable growth by investing in a globally diversified manner
• Mandated by the MPF Schemes Ordinance • Invests as a feeder fund into the respective APIF
which adopts a passive investment strategy and approximately 20% of the APIF will be invested in higher risk assets with the remaining assets in lower risk assets
1. Apple Inc. 0.65%
9. FRANCE O.A.T. 0.0% 25/02/2026 0.38%
3 Months
2 Fund Performance 2 -0.35 -0.26 2.64 17.25
N/A
N/A 4.30
7 Reference Portfolio 7 -0.42 -0.52 2.22 16.47
N/A
N/A 4.23
N/A 3.69 -1.55 9.63 8.21
() 5 Dollar Cost Averaging (For illustration only) 5 0.63 7.26
N/A
N/A 4.53
N/A 1.75 -1.08 3.84 5.25
13
Bond Funds
Φ Risk ClassΦ
Fund Details
•
• MPF 30%
• To provide competitive overall rate of returns for members who hold a longer term investment view and want to seek returns through capital appreciation and income generation
• Invests on diversified basis (in terms of issuers and geographical distribution of such issuers) with at least 70% of the net asset value invested in Renminbi (“RMB”) denominated Debt Securities which are issued, traded or distributed by any government, central bank, supra- nationals, multilateral international agencies and corporate issuers outside Mainland China
• The Manulife MPF RMB Bond Fund may also, through the underlying APIF, invest up to 30% of its net asset value in other RMB or non- RMB denominated investments including money market instruments, certificates of deposits, cash and deposits, and non-RMB denominated Debt Securities, as permitted under the Regulation
Securities 8 8 Holdings (%
1. China Development Bank 4.2% 19/01/2027 4.01%
2. Agricultural Development Bank of China 3.8% 27/10/2030 3.83%
3. Vanke Real Estate (HK) Co., Ltd. 3.45% 27/05/2024 3.63%
4. HSBC Holdings PLC. 3.4% 29/06/2027 3.43%
5. Export-import Bank of China 4.4% 14/05/2024 2.99%
6. Hyundai Capital Services, Inc. 3.55% 21/09/2023 2.54%
7. Export-import Bank of China 4.15% 18/06/2027 2.54%
8. Charter Style International Ltd. 5.8% 15/09/2024 2.41%
9. Wharf REIC Finance (BVI) Ltd. 3.7% 16/07/2025 2.40%
10. Qnb Finance Ltd. 3.5% 22/04/2024 2.37% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 0.28 1.95 5.52 15.37 16.25
N/A 16.45 4.88 3.06 N/A 1.97 -1.29 6.68 0.28 3.52 7.81
() 5 Dollar Cost Averaging (For illustration only) 5 1.63 7.51 10.92
N/A 13.17 4.75 4.09 N/A 3.11 -2.78 3.49 -0.21 0.55 5.45
Φ Risk ClassΦ
Fund Details
•

• To provide competitive overall rate of returns for members who hold a longer term investment view and want to seek returns through income and capital appreciation
• Invests on diversified basis mainly in Debt Securities issued by any government, central bank, supra-nationals, multilateral international agency and corporate issuers in the Asia Pacific region
1. Government of Australia 3.25% 21/04/2025 4.41%
2. Government of Singapore 1.875% 01/03/2050 2.34%
3. Government of Indonesia 6.625% 15/05/2033 2.29%
4. Government of Indonesia 8.25% 15/05/2036 2.04%
5. Government of Thailand 1.45% 17/12/2024 1.93%
6. Government of Malaysia 3.885% 15/08/2029 1.88%
7. Government of Thailand 2.125% 17/12/2026 1.86%
8. Government of South Korea 5.5% 10/12/2029 1.80%
9. Government of South Korea 4.75% 10/12/2030 1.74%
10. Government of South Korea 3.75% 10/06/2022 1.54% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -0.83 -2.78 1.61 15.84 12.37
N/A 20.99 5.02 2.36 N/A 2.04 1.39 7.46 -2.76 6.44 9.98
() 5 Dollar Cost Averaging (For illustration only) 5 -0.70 5.84 8.92
N/A 13.14 3.72 3.37 N/A 2.56 -2.49 2.86 -0.29 2.70 7.57
14
Φ Risk ClassΦ
Fund Details
•
• To provide competitive overall rates of return for
members who want to have a stable return • Invests mainly in Permitted Deposits, Debt Securities
issued by any government, central bank or multilateral international agency
• Invests in any region such as North America, Europe, United Kingdom and Asia
10. Government of Spain 1.4% 30/04/2028 1.22% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -0.81 -4.27 -2.13 6.69 2.41 8.17 74.52 2.18 0.48 0.79 2.71 0.43 4.60 -2.31 3.40 7.36 () 5 Dollar Cost Averaging (For illustration only) 5 -1.92 1.48 2.96 4.52 22.77 0.96 1.15 0.87 1.92 -3.22 1.80 -0.97 1.14 4.40
Φ Risk ClassΦ
Fund Details
•
( )
• To provide a competitive overall rate of return for members who hold a conservative investment view
• Invests mainly in Hong Kong dollar denominated Permitted Deposits and Debt Securities (in a portfolio with a range of maturity periods) issued by the government of Hong Kong or any government, central bank or multilateral international agency
1. Hong Kong Government Bond 1.68% 21/01/2026 1.81%
2. HKCG (Finance) Ltd. 1.98% 08/10/2030 1.79%
3. GPT RE Ltd. 2.2% 18/11/2030 1.62%
4. Airport Authority Hong Kong 1.95% 16/06/2027 1.49%
5. Bank of Communications (HK) 2.85% 21/03/2024 1.49%
7. State Grid Overseas Dev. (2016) Ltd. 2.7% 17/04/2024 1.31%
8. AIA Group Ltd. 3.68% 16/01/2031 1.24%
10. Korea Hydro & Nuclear Power Co., Ltd. 3.35% 13/03/2028 1.22% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -0.32 -0.81 -0.05 13.92 10.63 17.68 54.98 4.44 2.04 1.64 2.13 -0.44 3.25 0.68 4.43 6.99 () 5 Dollar Cost Averaging (For illustration only) 5 -0.05 4.08 7.43 12.08 25.08 2.61 2.83 2.25 2.09 -2.32 0.74 2.00 0.94 2.53
15
Money Market Fund
MPF ^ Code Launch Date 4
Φ Risk ClassΦ
Fund Details
• • •
• Aims to provide a rate of return to match the
prescribed savings rate published by the MPFA but with NO guarantee of capital or interest
• Mandated by the MPF Schemes Ordinance • Invests in Hong Kong dollar fixed income
instruments • Investment in the Conservative Fund is not the
same as placing funds on deposit with a bank or deposit taking company and that there is no obligation on the part of the Trustee to redeem the investment at the subscription value
1. Cdbl Funding 2 3.3% 24/01/2022 3.67%
2. Shanghai Pudong Dev/HK 0.1% 20/12/2021 3.22%
3. Hong Kong Mortgage Corp. 0.45% 23/12/2021 1.21%
4. ICBC (Macau) 0.0% 23/03/2022 1.21%
5. Cdbl Funding 2 3.5% 23/10/2021 1.14%
6. Eastern Creation Ii Investment Holdings Ltd. 3.85% 20/12/2021 1.07%
7. Bank of China Ltd. (Macau) 1.95% 05/03/2022 0.81%
8. Hong Kong Mortgage Corp. 0.0% 08/11/2021 0.80%
9. ICBC (Macau) 0.0% 20/04/2022 0.80%
10. ICBC (HK) 3.25% 11/12/2021 0.50% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 0.01 0.01 0.04 2.74 3.52 3.84 13.44 0.91 0.69 0.38 0.61 0.02 0.19 0.92 1.50 0.85 () 5 Dollar Cost Averaging (For illustration only) 5 0.01 0.89 1.86 2.78 5.38 0.58 0.73 0.54 0.50 0.01 0.11 0.61 0.84 0.29
Guaranteed Funds
Φ Risk ClassΦ
Fund Details
** •
•
• To provide relatively stable medium to long term
growth and with an interest guarantee** upon the occurrence of certain predetermined events
• A conservative investment for members who are prepared to accept modest fluctuations in the value of their investment in order to achieve long term returns
• Invests up to 40% in equities and equity-related investments, with the remaining assets in bonds, deposits and other investments as permitted under the Regulation
• Invests in any region such as America, Pacific Asia, Japan, Europe, etc, with a relative bias towards Hong Kong
2. HKCG (Finance) Ltd. 1.98% 08/10/2030 1.11%
4. General Property Trust 2.2% 18/11/2030 0.99%
7. Airport Authority Hong Kong 1.95% 16/06/2027 0.93%
10. Meituan-Dianping 0.79% .
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 -2.41 -0.49 4.31 14.51 18.97 34.93 71.46 4.62 3.54 3.04 2.62 -1.11 11.49 -5.59 8.20 9.03 () 5 Dollar Cost Averaging (For illustration only) 5 -0.08 7.36 10.50 17.85 37.45 4.66 3.94 3.23 2.94 -1.09 5.16 -3.77 3.09 7.50
16
Φ Risk ClassΦ
Fund Details
† Fund Expense Ratio†
Investment Objective 3 Portfolio Allocation3 6 Top 10 Portfolio Holdings 6 • ***
•
• • •
• To provide capital guarantee*** and aims to provide members with interest each month at a rate that equals to or exceeds the prescribed savings rate published by the MPFA
• To provide short-term growth for members who • wish to invest conservatively • are close to the age of retirement • seek a temporary safe haven during more
turbulent economic times
3. AIA Group Ltd. 2.95% 16/07/2022 1.24%
4. CDBL Funding 2 1.4% 29/01/2024 1.17%
6. Bocom Leasing Mgt. HK Co. Ltd. 1.07% 27/09/2024 1.14%
7. Hyundai Capital Services, Inc. 1.0% 07/09/2024 1.06%
8. Standard Chartered PLC. 0.75% 17/05/2024 1.06%
9. Sun Hung Kai Properties Limited 0.82% 17/09/2024 1.06%
10. Malayan Banking Bhd. 0.65% 24/06/2024 1.06%
3 Months
2016 2017 2018 2019 2020
2 Fund Performance 2 0.13 0.38 0.50 1.51 1.99 2.04 14.33 0.50 0.39 0.20 0.64 0.01 0.09 0.50 0.50 0.50 () 5 Dollar Cost Averaging (For illustration only) 5 0.27 0.77 1.22 1.62 3.91 0.50 0.48 0.32 0.36 0.01 0.08 0.27 0.27 0.27
17
Commentary MPF Manulife MPF Healthcare Fund • 9

• MSCI
• After a strong start, global equity markets fell into negative territory in September to finish the third quarter with a small loss. New variants of the coronavirus, China’s aggressive tightening of its regulatory policies, and the debt problems of a Chinese property developer combined to depress sentiment. In addition, the US Federal Reserve Board and other central banks indicated that they may soon begin to tighten monetary policy to combat inflation. Still, equities held up reasonably well in the face of these headwinds. With fixed income investments offering very low yields, investors continued to look to stocks as a potential source of higher returns.
• The healthcare sector advanced during the period and outperformed global markets, as measured by the MSCI World Index. The healthcare technology and healthcare providers & services sub- sectors underperformed the overall healthcare sector.
MPF Manulife MPF Pacific Asia Equity Fund • 2021
2021 2021
•
• 2021 11 2022
•
• 2021 began with expectations of a global economic recovery albeit at a difference pace. Growth was subsequently impeded by the resurgence of COVID and slower than expected inoculations in emerging Asia. China’s extensive regulatory tightening cycle and debt crisis among Chinese developers in the third quarter of 2021 added to growth headwinds for some economies and markets in Asia as we move into the fourth quarter of 2021.
• Inflation has proven to be much more permanent than transitory. China’s decarbonisation and weather disruptions have pushed energy prices higher, posing risks to the upside for inflation. Supply chain issues have also lasted for longer than expected, adding pressure to the supply and cost of goods. Central banks are turning more hawkish, as a result.
• The US Federal Reserve Board (Fed) communicated that a tapering announcement in November 2021 is likely and that tapering is likely to be completed by mid-2022. The combination of inflation, Fed taper and rising interest rate may mark the beginning of tighter financial conditions going forward.
• We also expect most economies around the region to embark on some form of fiscal consolidation after two years of heavy spending on COVID-relief measures. However, the pace of fiscal consolidation is expected to be relatively gradual.
MPF Manulife MPF China Value Fund •

• 7 50
•
• Greater China markets declined in the third quarter, led by underperformance in China. A slew of internet regulations, the Evergrande credit event and power curbs led to the market volatilities. Meanwhile, local resurgences in COVID cases have also affected mobility and consumption.
• Given moderating growth, policymakers in China relaxed liquidity measures by cutting the Reserve Requirement Ratio by 50 basis points in early July. We expect more supporting measures to stabilise growth. In Hong Kong, consumer discretionary stocks, led by Macau gaming operators, dragged down market returns. In Taiwan, non-tech sectors outperformed.
• Energy, materials, and utilities were the best performing sectors and returned positively. Communication services, consumer discretionary and healthcare were on the other hand among underperformers. Heightened regulations and softer-than-expected consumption data from China were some key factors leading to their weakness. Real estate underperformed too given concerns about potential default risk of property developers.
MPF / MPF Manulife MPF Hong Kong Equity Fund / Manulife MPF Hang Seng Index Tracking Fund • 2021

• In the rest of 2021, we expect the performance of Chinese and Hong Kong equities to be more balanced across sectors and styles. We expect market volatility may remain in the near-term and are mindful of the policy risks. In the near-team, we are positive on renewable energy especially in the solar supply chain. We are also positive on fixed assets investment beneficiaries as more infrastructure programmes may be rolled out to boost economic activities.
MPF Manulife MPF Japan Equity Fund • 5% 7 8
8 10 1 4
•
• The Japan equity market rose 5% in HK dollar terms in the third quarter. The market was flat in July and August but started rising from late August after Mr. Suga announced his resignation from the position of Liberal Democratic Party leader and prime minister. This performance was in stark contrast to the US and especially HK market. This quarter’s move was a reversal of Japan’s underperformance of other global markets since the beginning of the year as Japan has been slower to exit from COVID-19 restrictions compared to most western countries. The government announced the end of a state of emergency on 1 October which has been in place for most of the country since April. This should provide a positive boost for domestic demand, which has been weaker than expected so far this year.
• Shipping companies were the standout best performer for a third quarter in a row. Container and dry bulk shipping rates have been steadily rising this year due to a supply/demand imbalance caused by strong global demand recovery as well as incidents such as the Suez Canal blockage and port closures due to COVID outbreaks causing shipping shortages. Insurance and precision instruments also performed well. The games industry was the worst performing sector. This was initially affected by concerns over stronger regulation of game playing and game content in China.
MPF Manulife MPF European Equity Fund • 9

• 8 3.0%
• European equities retreated over September (in EUR terms) with sentiment pressured by fears of higher inflation, slower growth and a potential default from Chinese homebuilder Evergrande, the effects of which would be felt well beyond China itself. Most sectors fell, with energy stocks a rare bright spot. In contrast, utility companies declined the most as Spain’s move to tax the windfall profits of electricity companies that have benefited from soaring gas prices sparked fears that other governments could follow suit.
• The European Central Bank (ECB) decided to slow the pace of its bond-buying programme, although ECB president Christine Lagarde insisted this was a trimming, not a tapering. Despite inflation reaching 3.0% in August, the highest level in a decade, the ECB does not appear to be considering raising interest rates. In contrast. Norway’s central bank became the first major western central bank to increase interest rates after the pandemic and indicated that more interest rate
18
• 9 100
Delta 7 0.1 8 3.2 2012 4
rises would likely follow. • UK stocks delivered flat returns in September (in GBP terms), with the FTSE 100 Index holding up
better than mid-cap stocks as oil giants were supported by higher oil and natural-gas prices. UK GDP expanded by just 0.1% in July as a surge in the Delta variant forced workers to self-isolate, while inflation surged to 3.2% in August, the highest level since 2012. Speculation grew that the Bank of England would soon hike interest rates after it warned that inflation was expected to rise to “slightly above 4%” in the fourth quarter of the year and could remain at around this level next year because of high energy prices.
MPF Manulife MPF North American Equity Fund • 7 8
9 Delta 500
• US stocks finished the quarter with a slight gain, despite late-period volatility. The equity market posted advances in July and August, buoyed by strong corporate earnings, a broadening economic recovery, positive vaccination trends and low interest rates. However, the market lost ground in September amid inflation and supply chain concerns. News that the US Federal Reserve Board planned to reduce its bond buying, stalemates in Washington around a new infrastructure-spending bill and debt ceiling deadline, a late-period rise in interest rates and the spread of the Delta variant of COVID-19 were added headwinds. Within the Standard & Poor’s 500 index, the financials sector led the way, followed by the utilities and communication services sectors. The economically sensitive industrials and materials sectors posted notable declines as the recovery’s momentum slowed.
MPF / MPF / MPF / MPF / MPF / MPF 2025 / MPF 2030 / MPF 2035 / MPF 2040 / MPF 2045 / MPF
Manulife MPF Aggressive Fund / Manulife MPF Growth Fund / Manulife MPF Stable Fund / Manulife MPF International Equity Fund / Manulife MPF Smart Retirement Fund / Manulife MPF 2025 Retirement Fund / Manulife MPF 2030 Retirement Fund / Manulife MPF 2035 Retirement Fund / Manulife MPF 2040 Retirement Fund / Manulife MPF 2045 Retirement Fund / Manulife MPF Retirement Income Fund
•
•
•
• 2021
• 2022
• We remain in a challenging environment for global markets, not just because growth and earnings could disappoint due to growing logistical challenges, but also due to the growing pressure on policymakers to reduce their stimulus efforts in the face of rising inflation. Across the largest developed markets, fiscal tailwinds are likely to start to fade as the US Federal Reserve Board (Fed) looks set to commence tapering by year-end and raising interest rates. Similar moves appear to be being readied by the EU and UK monetary authorities.
• Fed tapering, the removal of extraordinary liquidity provisions, is likely to occur by year-end, if not before – or at least the formal announcement is expected. The quality of the economic data over the coming months is more likely to determine how the taper is conducted which will determine the market reaction.
• Policy, however, will likely still remain very accommodative with a very slow and gradual response in terms of rate hikes. The risk, however, to the timing of rate expectations would be being later than earlier.
• All indications point to an extended period of low interest rates and continued government support to put the global economy back on a positive trajectory. However, the pace of recovery into 2021 and beyond is difficult to project given the sheer number of variables to consider. Economic data has seen pockets of improvement whilst there also remains pockets of weakness. The massive volatility in indicator readings makes the positive signs less reassuring, and we believe that the level to which data eventually normalises will be more important.
• A rising number of questions are growing around Fed policy as well as multiple questions around vaccine hesitancy in some populations. A vaccine will be a game-changer for the economies of Latin America, Indonesia, and India – however, a medical solution is unlikely to drive a robust, rapid economic solution. Fiscal stimulus is unlikely to be enough for a rapid economic recovery, as getting back to pre-COVID growth rates is likely to be pushed into 2022. The lasting impact of COVID-19 on the global economy is not the only factor to monitor. Rising geopolitical tensions, decelerating growth rates post stimulus, supply chain disruptions and a general deglobalisation trend all raise questions about the future trajectory of global debt and equity markets.
MPF / MPF Manulife MPF Fidelity Growth Fund / Manulife MPF Fidelity Stable Growth Fund • 7
8 9 Delta
• Performance within global equity markets diverged over the quarter. Equities gained over the July– August period as the economic recovery and re-opening continued. Upbeat corporate earnings in developed markets also provided support. However, markets fell in September as inflationary concerns and a rise in government bond yields dampened investor sentiment. Major central banks indicated that they would tighten their monetary policy stance, which further weighed on markets. Fears of contagion from China Evergrande Group’s debt situation and the spread of the highly infectious Delta variant of COVID-19 globally also kept markets volatile. Against this global backdrop, Japanese equities gained as Prime Minister Yoshihide Suga offered to resign, paving the way for a new government and raising hopes for fresh stimulus measures. The US market also outperformed other major regional markets, while the Asia Pacific ex Japan market was the key laggard. Global bonds generated mixed returns, with corporate bonds outperforming government bonds. Core government bond yields rose as persistent inflation dynamics raised monetary policy concerns. US Treasury yields rose as the US Federal Reserve signalled that it may soon start to wind up its stimulus measures and that interest rate increases may follow more quickly than expected. The Bank of England indicated that it is considering raising interest rates before the conclusion of quantitative easing. Within corporate bonds, investment grade credit spreads were broadly unchanged, while high yield credit spreads widened amid inflation fears and risks of a slowdown in China. Elsewhere, in emerging market debt, local currency bonds underperformed hard currency bonds.
MPF / MPF 65 Manulife MPF Core Accumulation Fund / Manulife MPF Age 65 Plus Fund • Delta

• Global equities ended the quarter slightly lower as markets weighed vaccination progress and economic resiliency against ongoing Delta outbreaks and policy uncertainty. An early rally in developed markets reversed course as a focus on strong earnings shifted to signs of higher inflation. Meanwhile, uncertainty over regulatory actions in China’s services and property sectors weighed on emerging markets. Bond indices fell slightly after yields modestly rose, despite a repricing of inflation and monetary policy expectations throughout the quarter. Our outlook for risk assets remain cautiously constructive on the back of the ongoing economic recovery. Volatility can
19
Delta
be expected to remain elevated in the coming few months as markets navigate risks relating to the Delta outbreak, inflation and policy.
MPF Manulife MPF RMB Bond Fund • 9
2022 2 2021 11
• China’s economic data reported over September remained mixed. The Purchasing Managers’ Index, retail sales, industrial production, and property investments were weaker than market expectations. The consumer price index showed some marginal compression while previously released trade data was a bright spot. The current trajectory of economic indicators, overlayed with property sector tightening and the Evergrande situation, has further lowered expectations towards China’s economic growth. Given this, the market is now expecting some form of monetary and fiscal easing. For example, a reserve requirement ratio cut, minor interest rate cuts together with fixed investment projects are becoming more likely. Although, there is no sign of easing in the property sector at the current juncture. While COVID cases remain low, China’s borders are expected to remain closed until the Winter Olympics are completed in February 2022. Meanwhile, the People’s Bank of China has adopted a slightly more dovish tone recently and continues to ensure short-end market liquidity is flush to avoid any liquidity or credit crunch in local markets. Given the US Federal Open Market Committee is likely to begin tapering from November 2021, the divergence to monetary policy between the US and China is likely to be supportive for the US dollar.
MPF Manulife MPF Pacific Asia Bond Fund •

• The trajectory of the US economic recovery is expected to continue amid the steady vaccine rollout, despite higher numbers of COVID-19 cases due to new variants. With hospitalisation and fatality rates under control, investors are turning their focus to the economic recovery and strong corporate earnings. The US Federal Reserve Board (Fed) may be building the foundation for tapering to manage market expectations, and is at the same time likely to maintain a relatively accommodative monetary policy amid slack in US labour market and commitment to its average inflation targeting policy framework. Furthermore, the Fed and other central banks are more inclined to keep interest rate volatility low and for financial conditions to remain stable to promote the economic recovery. North Asian economies generally fared better in terms of the economic recovery compared to South Asian counterparts, while we are not overly concerned over the new COVID-19 variants on Asian bond markets. On the other hand, the potential restructuring of Evergrande is likely to remain an overhang on the property sector, but with limited impact on investment grade property developers. While the recent regulatory interventions in China have exceeded market expectations and triggered weakened sentiment towards Chinese assets, we believe the impact is more contained for China credit as most issuers have a robust financial profile.
MPF Manulife MPF International Bond Fund •
Delta 9 4 5% 13
•
• Global bond markets declined modestly in US dollar terms during the third quarter. Bond yields fell early in the quarter as investors expressed uncertainty about the continuing COVID-19 pandemic, particularly the growing spread of the more-contagious Delta variant and its potential impact on global economic growth. Later in the quarter, however, global bond yields reversed course, rising sharply amid accelerating inflation—the 12-month US inflation rate remained above 5% for the fourth consecutive month in September, inflation in the eurozone hit its highest level in 13 years, and many other countries reported inflation rates at multi-year highs. These developments led to expectations that the world’s central banks may need to rein in their accommodative policies sooner rather than later.
• Overall, global bond yields were slightly higher, resulting in declining bond prices. Regionally, European bond markets posted the largest declines, while the Asia-Pacific region held up the best. Sector performance was broadly negative, with government bonds falling the most, while high-yield corporate bonds posted more modest declines.
MPF / MPF / MPF Manulife MPF Hong Kong Bond Fund / Manulife MPF Interest Fund / Manulife MPF Conservative Fund
• 9 2022 2 10 2022 2021 11 2022
• Economic data reported over September continued their upward trajectory. While some of the developed markets such as the United States and Australia are relaxing travel restrictions, Hong Kong’s border remains tightly closed and might not open until mid-2022 given the Winter Olympics and the 20th Politburo meeting in February and October 2022 respectively. With China’s economic slowdown, Hong Kong is likely to face downward pressure, though supported by flush liquidity in the financial system and a healthy upcoming pipeline of Chinese company listings. Given the US Federal Open Market Committee is likely to begin tapering from November 2021 and hiking rates in 2022, we expect the US dollar to move stronger into the tapering cycle unless US economic data disappoints and expect Hong Kong interest rates, especially for the longer-end yields, to closely track the US market.
20
Source: Manulife Investment Management (Hong Kong) Limited, FIL Investment Management (Hong Kong) Limited, Vanguard Investments Hong Kong Limited, State Street Global Advisors Asia Limited, Allianz Global Investors Asia Pacific Limited & HSBC Institutional Trust Services (Asia) Limited
1 The Risk Indicator shows the annualized standard deviation based on the monthly rates of return of the fund over the past 3 years, and correct to 2 decimal places. Generally, the greater the annualized standard deviation, the more volatile/risky the constituent fund. The Risk Indicator for the constituent fund will be available 3 years after its launch date.
2 Constituent fund performance is calculated on the basis of NAV (net asset value) -to-NAV in Hong Kong Dollar, does not include the dividend per unit, and is net of all charges.
3 100% Due to rounding, the total may not be equal to 100%.
4 Constituent funds are represented by the Manulife Risk / Return Meter, a colour coding system in which a spectrum of colours is used to signify the risk-return profiles of our constituent funds. Each constituent fund has an assigned colour in the meter with the respective investment objectives as follows:
— Conservative/Blue — seeks to provide small short term growth with low risk exposure — Stable/Green — seeks to provide some medium to long term growth with low to medium risk exposure — Growth/Yellow — seeks medium to long term growth of capital with medium to high risk exposure — Aggressive/Red — seeks high medium to long term or long term growth of capital with high risk exposure — Very Aggressive/Purple Red — seeks long term growth of capital with very high risk exposure
The colour coding in the Manulife Risk/Return Meter is based on a number of factors in relating to their underlying investments, including types of asset classes and their respective target weightings, breadth and geographical diversification and historical long-term volatility and capitalization of the relevant markets. Different colours in the Meter represent a general division of risk/return profiles. The risk level of each constituent fund will be reviewed annually.
The greater the diversification and the more stable the underlying asset, the less volatility will be experienced. Generally, the greater the return you want to earn on your investments, the greater risk you have to assume. The assigned risk/return profile or colour of a constituent fund highlights the volatility of the relevant investments. The value of a constituent fund with higher risk normally fluctuates to a greater extent than a constituent fund with lower risk.
While higher risk constituent funds may be more volatile, over the long-term a higher risk constituent fund may have better potential for higher returns.
() () () The Manulife Risk/Return Meter is developed and regularly reviewed by Manulife Investment Management (Hong Kong) Limited annually. It represents only the views of Manulife Investment Management (Hong Kong) Limited and FIL Investment Management (Hong Kong) Limited in respect of the relevant constituent funds. The Manulife Risk/Return Meter is not a financial tool and shall not be relied upon to make any investment decisions and selection of constituent funds. Note that the Risk/Return Meter is for reference only and is not a substitute for independent professional advice. Manulife does not provide advice regarding appropriate investment allocations and selection of constituent funds. You should seek independent professional financial advice. We are not responsible for any loss occasioned as a result of relying on such information as investment advice.
5 ) MPF The Dollar Cost Averaging Return is calculated by comparing the total contributed amount over the specified period with the final NAV (net asset value). A constant amount is used to purchase fund units at the prevailing fund price (NAV per unit) on the last trading day of every month over the specified period. The total contributed amount is the sum of all such monthly contributions. The final NAV is arrived by multiplying the total units cumulated over the specified period with the fund price (NAV per unit) on the last trading day of such period. The cumulative and annualized returns of Dollar Cost Averaging are provided for reference, and the figures are for illustrative purposes only. Source: Morningstar and Manulife (International) Limited (for Manulife MPF Interest Fund only).
6 "" "Top 10 portfolio holdings" lists out the largest 10 security holdings (i.e. not including cash and others) of the fund portfolio. The fund portfolio may have less than 10 security holdings.
7 65 65 www.hkifa.com.hk “Core Accumulation Fund (“CAF”) Reference Portfolio” and “Age 65 Plus Fund (“A65F”) Reference Portfolio” are the MPF industry developed reference portfolio and published by the Hong Kong Investment Funds Association for the purpose of providing a common reference point for performance and asset allocation of the DIS constituent funds, i.e. the CAF and A65F respectively. The reference portfolio is subject to review on regular basis and may change. For more and the latest information about the reference portfolio, please visit the website of the Hong Kong Investment Funds Association at www.hkifa.com.hk.
8 A bond usually has an annual interest rate and the maturity date, the annual interest rate as a percentage of the par value (or a “coupon rate”).
† 2021 3 31 Fund expense ratio for financial period ended March 31, 2021. Fund Expense Ratio for the constituent fund will be shown after the period between the reporting date of the fund fact sheet and the launch date of the fund reaches 2 years and thereafter.
§ MPF 2021 3 31 Please note that Manulife MPF China Value Fund does not incur any Performance Fee of underlying investments over the financial year ended March 31, 2021.
^ (i) (ii) MPF (i) Fees and charges of a MPF conservative fund can be deducted from either (i) the assets of the fund or (ii) members’ account by way of unit deduction. The Manulife MPF Conservative Fund uses method (i) and, therefore, any unit prices/NAV/fund performance quoted for the constituent fund have incorporated the impact of fees and charges.
21
# 2005 2 1 The historical rates declared have already taken into account of the guaranteed prescribed savings rates. Effective from February 1, 2005, the guarantee on prescribed savings rates for the declared rates has been removed. The Fund Performance of Interest Fund is derived from relevant declared rates compounded monthly.
** MPF Manulife MPF Stable Fund (the “Stable Fund“): Manulife (International) Limited is the guarantor. Investors are provided with an interest guarantee for each month equal to the prescribed savings rate published by the MPFA. The guarantee is subject to: 1) the contribution must be received in cleared funds before the member's 55th birthday; and 2) occurrence of pre- determined events (members must hold their investment in this constituent fund to normal retirement at the age of 65, or in case of death, or total incapacitation prior to retirement) or in the event of terminal illness. Redemption effected other than the occurrence of the pre-determined events or in the event of terminal illness is fully exposed to fluctuation in the value of the constituent fund's underlying assets. The guarantee will be provided once and only in a lump sum applicable to the relevant account and all its sub-accounts when withdrawal is effected as a result of the predetermined events, and will be provided with respect to the relevant account/sub-account withdrawn in the event of terminal illness. There will be special arrangement in case of withdrawal by instalments as a result of the member attaining his normal retirement age of 65 (one of the pre-determined events); the guarantee will be provided as if a lump sum withdrawal is taken place. Thereafter, no further guarantee will be available from the Stable Fund for the account being claimed by the member. Please refer to the MPF Scheme Brochure for detailed features of the guarantee.
*** MPF 3.4.1 MPF 7.2.4(c) MPF MPF 3.4.1 MPF Manulife MPF Interest Fund is a non-unitized bond fund of the Manulife Global Select (MPF) Scheme that provides a capital guarantee and aims to provide members with interest each month at a rate that equals to or exceeds the prescribed savings rate published by the Mandatory Provident Fund Schemes Authority. The actual interest rate shall be declared by Manulife Provident Funds Trust Company Limited at its sole discretion at the recommendation of Manulife (International) Limited at the end of the month. Please refer to sections 3.4.1 (Manulife MPF Interest Fund (the “Interest Fund”)) and 7.2.4(c) (Manulife MPF Interest Fund) of the MPF Scheme Brochure for details of the credit risks and guarantee features. Manulife (International) Limited is the guarantor. The guarantee features of Manulife MPF Interest Fund (the “Interest Fund”) are subject to the credit risks of the guarantor. Dividends are credited to and invested in the Interest Fund which is subject to relevant risks such as the credit risks of the guarantor as well as fees and charges applicable to the Interest Fund. Please refer to sections 3.4.1 (Manulife MPF Interest Fund (the “Interest Fund”)) of MPF Scheme Brochure for a detailed description of the Interest Fund, particularly the investment objective and risks.
The 1-year, 3-year, 5-year & 10-year performance of the constituent fund will be available 1 year, 3 years, 5 years and 10 years respectively after the launch date.
* The performance of the constituent fund will be available 6 months after the launch date.
Constituent fund performance from launch date to end of that calendar year.
∫∫∫ ( ) The Hang Seng Index (Total Return) is published and compiled according to the "Total Return Index" by Hang Seng Indexes Company Limited pursuant to a licence from Hang Seng Data Services Limited. The Index will take account of both price changes and dividend payments.
MPF 2020 9 21 www.manulife.com.hk Manulife MPF Retirement Income Fund (the “Retirement Income Fund“) aims to distribute dividend on a regular basis. Currently, it is intended that the Retirement Income Fund will distribute dividend on a monthly basis starting from the seventh month (or earlier as advised by the investment manager of the underlying first level APIF if it considers appropriate) after the launch date of September 21, 2020. Prior to the first month commencing distribution of dividend in each calendar year, a dealing day of each month for that calendar year will be pre-determined as the record date (“record date”). The NAV per unit of the Retirement Income Fund on the next dealing day immediately following the record date (“ex- dividend date”) will be decreased or adjusted to reflect the distribution of dividend. The schedule of the pre-determined record dates and ex-dividend dates of each month for each calendar year will be made available at www.manulife.com.hk as soon as practicable prior to the first record date of that calendar year. If a date falls on a non-dealing day, then it will be carried out on the next dealing day.
65 65 The amount of dividend will be allocated to the account/sub-account of the relevant Members and reinvested in either the Retirement Income Fund or invested in the Interest Fund based on the Member’s age as at the record date. For member below age 65 as at the record date, dividend will be reinvested to subscribe units of the Retirement Income Fund. For Member at or above age 65 as at the record date, dividend will be credited to the Interest Fund, which will be subject to relevant risks such as the credit risks of the guarantor as well as fees and charges applicable to the Interest Fund.
Net Distributable Income means the net investment income (i.e. dividend income and/or interest income net of fees, charges and expenses) and includes net realised gains, if any. Net Distributable Income does not include net unrealised gains. = [(1+/)^]-1 Annualised yield = [(1+distribution per unit/ex-dividend NAV)^distribution frequency]–1, the annualised dividend yield is calculated based on the latest relevant dividend distribution with dividend reinvested, and may be higher or lower than the actual annual dividend yield.
Please note that a positive dividend yield does not imply a positive return. The Retirement Income Fund does not provide any guarantee on the capital or investment return or dividend amount/yield. There is no assurance on the dividend distribution frequency and the dividend amount/yield may fluctuate. Dividends may be paid out of the realized capital
22
gains, capital and/or gross income while charging/paying all or part of the fees, charges and expenses to/out of the capital, resulting in an increase in distributable income available for dividend distribution. Payment of dividends out of capital and/or effectively out of capital represent a withdrawal of part of the original investment or from any capital gains attributable to that original investment. Distribution of dividends will result in an immediate decrease or adjustment in the net asset value per unit of the Retirement Income Fund on the ex-dividend date. Despite the above, dividends will be allocated to members’ account/sub-account for investment. Investors should not make any investment decision solely based on information contained in the table above. You should read the MPF Scheme Brochure for further details including risk factors.
A risk class is to be assigned to each constituent fund according to the seven-point risk classification below based on the latest risk indicator of the constituent fund. The risk class is prescribed by the Mandatory Provident Fund Schemes Authority (“MPFA”) according to the Code on Disclosure for MPF Investment Funds and the risk class has not been reviewed or endorsed by the Securities and Futures Commission (“SFC”).
Risk Class 1 2 3 4 5 6 7
Risk Indicator
Less than 0.5% 2.0% 5.0% 10.0% 15.0% 25.0%

:
: MPF
WARNING : Unit prices may fall as well as rise. The figures are for reference only and past performance is not indicative of future performance. Investment involves risks. Please refer to the MPF Scheme Brochure for details including risk factors, fees and charges of the scheme. No information contained in this publication should be relied upon as investment advice or regarded as a substitute for detailed investment advice or regarded as a substitute for detailed investment advice in individual cases.
Note : All the graphs and constituent funds’ performance information are provided by the investment managers of the underlying funds (except performance information of Manulife MPF Interest Fund is provided by Manulife (International) Limited). All unit prices declared are net of investment management fees and other charges.
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Documents

Quarterly Fund Fact Sheet 季度基金概覽 - Manulife