MANULIFE INVESTMENT Management and Trust Corp. (Manulife IM Philippines) has launched a new equity feeder fund where majority of assets will be invested in India as it aims to capture the growth of the world’s sixth-biggest economy.

Manulife IM Philippines said in a press release on Wednesday that its India Equity Feeder Fund is an equity unit investment trust fund (UITF) that invests at least 70% of its net assets in listed companies and securities of firms across various sectors in India.

“India is an economic powerhouse offering investors attractive growth opportunities. With its large and young population, India is poised to deliver solid growth, supported by its domestic-driven economy and transformative reforms, especially as its vaccine manufacturing capacity has started ramping up amid the pandemic,” said Aira Gaspar, president and CEO of Manulife IM Philippines.

Ms. Gaspar said the Indian economy will likely benefit from faster digital transformation as it attracts global investments.

She added that the country’s low labor costs and policies on import substitution supporting the local market would also benefit its manufacturing sector amid disruptions in global trade.

The fund is available in either peso- and dollar-denominated share classes for minimum investments worth P5,000 and $100.

Manulife IM Philippines is the wealth and asset management arm of life insurer Manufacturers Life Insurance Co. (Phils.), Inc.

In July, Manulife IM Philippines launched its global feeder fund that will invest 70% of its total assets in real estate investment trusts listed across international markets.

Ms. Gaspar had said the company will launch two new offshore funds this year to take advantage of the changes brought about by the coronavirus pandemic. — BML

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