Manulife Investment Management, which is the asset management arm of Manulife Financial Corporation, has launched its first China-focused Shariah equity fund, media reports said. Now investors will have direct access to China’s offshore and onshore investment opportunities.
The fund will invest in Shariah-compliant companies based in or operating in China. It is reportedly the second-largest equity market in the world. As the country is resuming economic activities, growth is expected to return and it’s an opportunity for investors to channel their money into the country.
Manulife IM CEO Jason Chong told the media, “We can expect more investment opportunities in China to unveil themselves as the country continues to develop and become more widely adopted in major global indices.
“It is expected that China’s biological drug market could reach $79 billion in 2023. The Manulife Shariah China Equity Fund also allows investors to enjoy peace of mind with Shariah-compliant investments by taking a two-level screening of the companies it invests in – business activity screening and financial ratios screening.”
Last month, the firm hired Bryony Deuchars as a senior investment analyst for its emerging markets equity strategies. Deuchars has over 20 years of experience and has worked as an analyst for Schroders. She also has experience as an emerging markets portfolio manager.
Manulife also promoted Talib Saifee to the portfolio manager role effective from 1 September 2021.