Manulife launches first Hong Kong fund

The insurance company''s mutual funds arm is introducing a technology guaranteed fund that will be managed locally.

Manulife Funds Direct, the mutual funds division of insurance giant Manulife Financial, is introducing its first Hong Kong-managed and marketed fund. The division was only set up in Hong Kong last summer, as all fund management was previously concentrated in London. Manulife itself has operated in Hong Kong for a century.

The first product to be developed and managed locally is the High Impact Technology Guaranteed Fund. Guaranteed funds have been a hot seller in Hong Kong, says Ron Otsuki, CEO of the funds arm. Tech valuations are very low and the markets are full of volatility and risk. We see this as an ideal pairing of a principal guarantee for a volatile sector.

Otsuki...

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