Publish Date:
Mahindra Manulife Mutual Fund has launched an open-ended fund of fund scheme - Mahindra Manulife Asia Pacific REITs FOF.
The scheme will be investing its assets in units/shares of Manulife Global Fund-Asia Pacific REIT Fund.
Mahindra Manulife Asia Pacific REITs FOF seeks to provide long term capital appreciation by investing predominantly in units of Manulife Global Fund – Asia Pacific REIT Fund, an overseas fund primarily investing in real estate investment trusts (REITs) in the Asia Pacific ex-Japan region. However, there can be no assurance that the investment objective of the Scheme will be achieved.
Mahindra Manulife Asia Pacific REITs FOF is mandated to invest 95% to 100% of its assets in Units/Shares of Manulife Global Fund – Asia Pacific REIT Fund, an overseas fund primarily investing in real estate investment trusts (REITs) in the Asia Pacific ex-Japan region. 0% to 5% of the net assets can be held in Debt and Money Market Securities (including TREPS (Tri-Party Repo), Reverse Repo) and/or units of liquid schemes.
Accordingly, under normal circumstances, at least 95% of the Net Assets of the Scheme will be invested in units of Manulife Global Fund – Asia Pacific REIT Fund, subject to the availability of Eligible Investment Amount and the terms of offer of Manulife Global Fund – Asia Pacific REIT Fund.
Overview of Underlying Fund: Manulife Global Fund-Asia Pacific REIT Fund
Asia Pacific REIT Fund (“Sub-Fund”) is one of the Sub-Funds under Manulife Global Fund, a Luxembourg-domiciled open ended investment Company, registered under Part I of the Luxembourg Law of 17 December 2010 (as amended) (the “2010 Law”) and qualifies as an undertaking for collective investment in transferable securities (“UCITS”) and has obtained recognition under the EC European Parliament and Council Directive 2009/65.
The Sub-Fund aims to provide long-term capital appreciation and income generation primarily through investment in real estate investment trusts (“REITs”) in the Asia Pacific ex-Japan region.
The Manulife Global Fund-Asia Pacific REIT Fund invests 70% to 100% of its assets in Real estate investment trusts (REITs). The real estate-related securities include equity and equity-related issuance of companies meaningfully involved in any aspect of real estate, real estate-related business trusts, property trusts, hospitality trusts and stapled securities.
Top Ten Portfolio holdings (as on July 30, 2021)
|
Name of Issuer/security |
% to Net Assets |
|
Link Real Estate Investment Trust |
8.11 |
|
CapitaLand Integrated Commercial Trust |
7.73 |
|
Ascendas Real Estate Investment Trust |
7.64 |
|
Mapletree Logistics Trust |
5.04 |
|
Frasers Logistics & Commercial Trust |
4.83 |
|
Mapletree Commercial Trust |
4.45 |
|
Mapletree Industrial Trust |
3.91 |
|
Fortune Real Estate Investment Trust |
3.54 |
|
Frasers Centrepoint Trust |
3.50 |
|
Mapletree North Asia Commercial Trust |
3.49 |
Country/Region Exposure (as on July 30, 2021)
|
Country |
% Exposure |
|
Singapore |
57.63 |
|
Hong Kong |
13.94 |
|
China |
11.90 |
|
Australia |
10.69 |
|
Philippines |
1.63 |
|
Thailand |
1.56 |
Mahindra Manulife Asia Pacific REITs FOF’s performance will be benchmarked against the FTSE EPRA Nareit Asia ex Japan REITs Index.
The fund will be managed by Mr Amit Hiremath and Mr Amit Garg.
The NFO opens for subscription on September 28, 2021, and closes on October 12, 2021. The scheme will re-open for continuous Sale and Repurchase from October 22, 2021.
The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Income Distribution cum Capital Withdrawal Option (“IDCW”) (Pay-out o IDCW).