PETALING JAYA: Manulife Investment Management (M) Bhd (Manulife IM (Malaysia)) today launched the Manulife Singapore Equity Fund, an all-cap investment strategy that offers investors in Malaysia timely access to income and long-term capital growth opportunities emerging from Singapore’s evolving equity market.
The new fund is a feeder fund that invests into the Manulife Singapore Opportunities Income Fund (target fund), which is actively managed on the ground by Manulife Investment Management (Singapore) Pte Ltd.
The launch of the fund is timed to coincide with a fundamental shift in Singapore’s capital markets.
Historically, while Singapore has been recognised as a safe-haven market with deep structural protections, exceptional regulatory frameworks, and stable currency trends, many fundamentally strong companies – particularly in the small- and mid-cap (SMID) segments – remained overlooked and trading at deep valuation discounts due to limited analyst coverage and low market liquidity.
In a statement, Manulife said this dynamic is now being reshaped by the Monetary Authority of Singapore’s (MAS) S$6.5 billion (RM20.54 billion) Equity Market Development Programme, which is designed to channel long-term capital into Singapore equities, enhance market liquidity, broaden investor participation and support improved research coverage and fair valuation of quality companies.
In November 2025, Manulife Investment Management was appointed by MAS as one of the asset managers under the programme.
“For investors in Malaysia, Singapore’s equity market can play a complementary role within portfolios, offering diversification alongside domestic and global equity exposures,” said Manulife IM (Malaysia) CEO, Jason Chong.
He added, “Market reforms in Singapore are broadening the opportunity set well beyond the largest index constituents, particularly within small- and mid-cap companies where valuation gaps remain meaningful. As liquidity improves and investor participation increases, active management led by a Singapore-based equities team with deep on-the- ground experience becomes critical in identifying quality businesses positioned to benefit from this shift.”
Singapore Manulife Investment Management equities head Hock Fai Chan said: “From an investment perspective, the opportunity lies in how improving liquidity and broader investor participation allow share prices to better reflect underlying fundamentals, particularly among companies that were previously overlooked.
“The strategy takes an all-cap approach, typically allocating around 60% to established large-cap leaders for resilience and 40% to the highly responsive small and mid-cap segment, where valuation discounts can narrow as price discovery improves. This positions the portfolio to participate in re-rating opportunities as Singapore’s equity market continues to evolve.”
The target fund currently offers a portfolio yield of about 4.2%, providing investors with stable, recurring income alongside participation in longer-term equity growth and is actively managed using a disciplined, bottom-up investment approach guided by its Growth, Cash Flow, Management, Valuation Framework.
This process focuses on identifying companies with sustainable business models, strong cash flows and clear catalysts, supporting disciplined stock selection across market cycles.
Investors in Malaysia also benefit from an experienced Singapore-based equities team, which has a long track record of investing across market cycles and navigating opportunities within the SMID segment.
Manulife said the fund is suitable for investors who seek capital appreciation and income, have a long-term investment horizon, and wish to seek exposure to the Singapore equity market.
The fund’s initial offer period runs for 21 days from June 10 to June 30 and is available in Singapore dollar, ringgit, ringgit-hedged share classes. Income distributions for all classes, if any, will be paid on a quarterly basis.
