The newly launched Manulife Income Series - Singapore Fund has beaten expectations in terms of the sum raised, said Manulife this week.
The investment-linked plan is billed as suitable for retirement needs and those seeking a passive income. Manulife Singapore had distributed the plan through its more than 1,000 financial planners.
The fund seeks to provide medium- to long-term capital appreciation and income by investing 60 per cent in the Manulife Singapore Bond Fund and 40 per cent in the Manulife Singapore Equity Fund, both managed by Manulife Asset Management (Singapore).
The fund aims to pay a dividend of 3.6 cents per unit per year or 0.3 cent per unit per month. The annual management charge is 1.2 per cent.
Source: The Straits Times
