Factsheet May 2021

Manulife Global Equity Fund

Investment objective Fund information (31 May 2021)
Manulife Global Equity Fund (MGEF) invests in the AllianceBerstein (AB) Bid price/unit NAV RM 1.0035
SICAV I - Low Volatility Equity Portfolio (AB - LVEP), which seeks to provide Offer price RM 1.0563
capital appreciation by investing in global equities. Fund size RM 0.31 million
Units in circulation 0.31 million
Investment strategy Launch date 1 May 2021
The AB - LVEP seeks to identify equity securities that it believes have Management fee 1.50% p.a.
fundamentally lower volatility and less downside risks in the future. The fund Dealing Daily
manager of the AB - LVEP uses its proprietary risk and return models as well
Top holdings1#
as its judgment and experience in managing investment portfolios to construct
the AB - LVEP that seeks to minimize volatility while maximizing quality Name %
exposure. Microsoft 4.0
Alphabet 2.7
The AB - LVEP will predominantly invest in equity securities of companies in
Roche 2.3
developed markets, however the AB - LVEP is not restricted from purchasing
Amazon.com 2.2
equity securities in any country, including emerging markets. The AB - LVEP
may invest in securities, including but not limited to (i) common and preferred Apple 2.1
stocks (including American depositary receipts and global depositary Asset allocation1#
receipts), (ii) currency spot and forward contracts, (iii) stock index futures, (iv)
stock options, (v) exchange-traded funds, (vi) warrants, rights, initial public ■ Information 25.2%
offerings, and private placements, including new issues and secondary Technology
offerings, (vii) securities convertible into common stock and (viii) participation ■ Financials 14.8%
notes and /or other synthetic foreign equity securities. ■ Consumer 13.9%
Discretionary
The AB - LVEP may not invest more than 10% of its net assets in units or ■ Communication 10.6%
shares of another undertaking for collective investment in transferable Services
securities (UCITS) or other undertaking for collective investment (UCIs). The ■ Consumer Staples 9.7%
AB - LVEP may not invest more than 10% of its net assets in securities which ■ Healthcare 9.5%
have a lack of liquidity. However, the fund manager of the AB - LVEP will ■ Industrials 5.8%
ensure at any time the overall liquidity of the AB - LVEP is maintained. The AB
■ Utilities 3.3%
- LVEP may, as a temporary defensive measure or to provide for redemptions
■ Materials 1.5%
or in anticipation of investment in various international markets, hold cash or
cash equivalents and short-term fixed-income securities, including money ■ Others 5.7%
market securities.
Performance table
Fund performance since launch Performance Fund Benchmark*
(01 May 2021 to 31 May 2021) 1 month - -
1.6% 6 months - -
1.4% YTD - -
1.2% 1 year - -
1.0% 3 years - -
0.8% 5 years - -
0.6% Since inception 0.35% 1.60%
0.4%
* Benchmark: MSCI World Index; Source: Bloomberg
0.2% Note: Fund's performance is calculated on NAV to NAV. The
0.0% fund performance is strictly the performance of the
05/2021 05/2021
investment-linked (IL) fund and not to be treated as the
——— Fund ——— Benchmark returns on the actual premiums/ contributions on the IL
Graph depicts returns calculated on NAV to NAV basis insurance product. The value of units may go up as well as
Source: Bloomberg down. Past performance is not indicative of future results. The
benchmark return is in MYR terms.

1
The percentages presented hereof are internally sourced and computed for indication purposes only
#
Underlying Fund
Factsheet May 2021
Manulife Global Equity Fund

Market Review & Outlook#

Global equities, as measured by the MSCI World Index, added to gains early in the month but retreated amid heightened volatility as investors weighed
concerns about the trajectory of inflation and a potential shift in the Fed’s accommodative monetary policies. Despite midmonth volatility, the index
recovered, ending the month in positive territory, gaining 1.4%; year to date, the index has returned 11.4% (all returns in US-dollar terms).
The acceleration of vaccine distribution bolstered equity markets, but investor attention remained largely focused on gauging the impact of inflation.
Moderating economic data quelled concerns somewhat, but inflation fears were reignited and global stocks fell sharply after the release of the April CPI
report, which showed that Core CPI in the US had increased three times faster than expected. Equity markets in Europe rebounded after the European
Commission raised its economic forecast for the eurozone, citing the upcoming rollout of the European Union recovery fund. The 1Q:21 earnings season
in Europe and the US continued to exceed expectations on the back of favorable year-over-year comparisons, and equities rebounded as the Fed offered
reassurance and yields remained subdued. Risk appetite was also supported by global PMI results that reflected increased strength in both the
manufacturing and service sectors.
Growth stocks continued to trade leadership with value stocks throughout the month, but value ultimately outperformed growth on a relative basis. Small-
cap stocks lagged large-cap stocks narrowly, although both posted modest gains. Overall sector performance within the MSCI World was mixed, led by
economically sensitive sectors such as financials and energy. The technology and consumer-discretionary sectors underperformed on a relative basis.
Rising interest rates and inflation expectations remain top concerns for equity investors, which could trigger market volatility. Rising geopolitical tension
between China and the West could become more prominent again. In addition, rising corporate taxes and heightened regulatory risk remain concerns.
Even after a recovery to the new normal, the global growth outlook faces many risks that prevailed before the pandemic, including populism, and elevated
debt. Consumers and business will recalibrate spending for the new normal. Some industries may still face oversupply, such as office space, hotels and
aircraft, while others may face refinancing risk in the face of rising interest rates.
We aim to build a macro-resilient portfolio by investing in companies with strong cash flows and resilient business models that are likely to withstand the
pressures of the pandemic and thrive in a post-coronavirus and future geopolitical world. We are positioned for the current environment in three sets of
companies.
First, the portfolio owns quality compounders. We believe that the coronavirus will ultimately serve to accelerate many structural trends that were already
in place. The accelerated digitization across payments, business interactions and consumer e-commerce, as well as, the accelerated transition to the
knowledge-based economy, will create opportunities in companies that provide information and proprietary data that is essential in a contactless world.
However, we believe that expected strong earnings growth may already be priced in to shares, in many cases.
Second, we exposed to inexpensive defensives. Low-risk stocks have lagged the most in history, since the trough in March 2020, while earnings have
held up strongly in sectors such as utilities and consumer staples, leading them to trade at very attractive valuations. These companies benefit from
structural trends toward green energy or have brands that allow them to earn healthy profit margins in the face of fluctuations in the global economy.
Ultimately, earnings still matter, and the stocks that will lead the pack are those that are seen to have better earnings prospects in an uncertain world.
Third, post-COVID-19, we do expect to see a recovery in quality business models in leisure, commercial services and transportation as vaccines are
rolled out and as consumers and companies unleash pent-up spending.
We believe that equity portfolios designed to smooth volatility are especially appealing in the current market environment. We continue to look for
companies that offer a combination of quality and stability at attractive prices, the three core elements underpin our investment philosophy in good times
and in bad times. For long-term, outcome-oriented investors, we believe that companies with these features are best positioned to deliver strong returns
through changing environments.
#
Underlying Fund
This report is prepared for information purposes only and Manulife Insurance Berhad (“Manulife”) does not guarantee its accuracy, completeness,
correctness or timeliness for any particular purpose. Manulife reserves the right to change any information without giving any notice. The performance of
the fund is not guaranteed and the value of investment and their derived income may increase or decrease. Past performance is not a guide to future
performance. In the event of exceptional circumstances, such as high volume of sale of investment within a short period of time, the Company reserves
the right to defer or suspend issuance or redemption of units. The fund manager is Manulife Investment Management (M) Berhad (formerly known as
Manulife Asset Management Services Berhad).
Factsheet May 2021
Manulife Global Equity Fund

Investment in the fund is subject to certain risks, including but not limited to:
Risk type Description Risk management Risk management
(Bond funds) (Equity funds)
Fund management risk The selection of securities which make To mitigate this risk, the investment To mitigate this risk, the Investment
up the investments of the fund is Manager has in place a disciplined Manager has in place a disciplined
subjective and securities selected may investment process and practices investment process and practices
perform better or worse than overall prudent risk management. prudent risk management. In addition,
market. risk is also monitored through risk
models.
Liquidity risk The risk of the funds being unable to To mitigate this risk, the Investment To mitigate this risk, the Investment
meet their obligations at the reasonable Manager will review and monitor the Manager will review and monitor the
cost or at any time. Fund continuously, and actively manage Fund continuously, and actively manage
asset allocations of the Fund. In asset allocations of the Fund. In
addition, the investment Manager will addition, the Investment Manager will
practice prudent liquidity management to practice prudent liquidity management.
enable the Fund to meet short term
obligations.
Market or price risk Market risk arises when the value of the The Investment Manager will attempt to This risk is managed through
securities fluctuate in response to the diversify the portfolio, and monitor the sector/stock diversification and asset
general market and economic conditions. investment climate and market conditions allocation. This risk is managed through
to take measures, where necessary and sector/stock diversification and asset
appropriate, to mitigate this risk. This allocation. This may include reallocating
may include lowering the fixed income the investments into more defensive
exposure and/or reallocating the investment instruments such as cash,
investments into more defensive deposits, money market and/or other
investment instruments such as cash, fixed income instruments.
deposits and/or other money market
instruments.
Timing risk The risk is subject to the volatility of the The Investment Manager will manage it Timing risk will be managed via technical
market/interest rate. based on its professional knowledge and tools (i.e. from Bloomberg) as well as
experienced investment skill. based on the Investment Manager's
professional knowledge and experience
investment skill.
Company / stock The risk of loss due to the fall of N/A To mitigate this risk, the Investment
specific risk stocks/shares prices given the Manager will be performing continuous
deteriorating business condition. research and analysis on the balance
sheet strength, earnings generation
capability and strength of management
team of the company.
Interest rate risk The interest rate is a general economic This risk will be mitigated via the N/A
indicator that will have an impact on the management of the duration of the fixed
management of the Fund. This risk refers income securities.
to the effect of interest rate changes on
the market value of fixed income
securities. In the event of rising interest
rates, prices of fixed income securities
will decrease and vice versa. Meanwhile,
fixed income securities with longer
maturities and lower coupon/profit rates
are more sensitive to interest rate
changes.
Inflation risk This is the risk that investors' investment The risk may be mitigated by investing in N/A
in the Fund may not grow or generate fixed income securities that can provide
income at a rate that keeps pace with positive real rate of return.
inflation.
Credit risk The risk of loss due to the counter party's Credit risk may be managed by N/A
inability to make payment of performing continuous fundamental credit
coupon/profit and/or principal. research and analysis to ascertain the
creditworthiness of its issuer.