All info are as at 31 December 2015 unless otherwise stated.
GOLDEN SINGAPORE GROWTH FUND (Easi-Investor)
FACTSHEET – December 2015
Fund Objective
Asset Allocation
The Fund (feeding into Schroder Singapore Trust Class M) aims to
seek long-term capital growth through investing in securities of
companies quoted on the Singapore Exchange.
Net Asset Value = SGD 216.85 Million
Fund Performance (S$ Bid-to-Bid returns)
2.5
2.0
1.5
1.0
0.5
0.0
Sep-00
Sep-03
Sep-06
Sep-09
Manulife Golden
Singapore Growth
Fund (%)
Sep-12
Benchmark
2.47
4.00
6 mth
-10.86
-11.57
1 yr
-8.59
-11.90
3 yr
1.27
0.04
5 yr
1.12
0.52
10 yr
5.32
5.24
Since Inception
(5 June 2006)
5.14
4.30
88.16
3.68
0.25
7.90
Top 10 Holdings in (%)
Singapore Telecommunications Limited
DBS Group Holdings
Oversea-Chinese Banking Corporation
United Overseas Bank Limited
Keppel Corporation
Capitaland Limited
Comfortdelgro Corporation Limited
Mapletree Industrial Trust REIT
UOL Group Limited
Hongkong Land Holdings Limited
14.20
12.24
9.40
9.00
5.78
5.41
4.84
3.77
3.58
2.55
Sep-15
MSCI Singapore
Free Index (%)
3 mth
Country Allocation in (%)
Singapore
Hong Kong
Malaysia
Cash
Source: Morningstar • Performance are NAV-NAV in SGD
• Performance figures for 1 mth till 1 yr show the % change,
those exceeding 1 yr show the average annual compounded
return.
Schroder Investment Management (Singapore) Ltd is the fund manager for the underlying fund of Golden
Singapore Growth Fund. The Manulife Golden Singapore Growth fund started feeding into the underlying fund
with effect from 14 May 2010.
The CPF interest rate for the Ordinary Account (OA) is based on the 12-month fixed deposit and month-end
savings rates of the major local banks. Under the CPF Act, the Board pays a minimum interest of 2.5% p.a.
when this interest formula yields a lower rate. From 1 Jan 08, the new interest rate for the Special, Medisave
& Retirement Accounts (SMRA) will be pegged to the yield of 10-year Singapore government bond plus 1%.
For 2008 and 2009, the minimum interest rate for the SMRA will be 4% p.a. After 2009, the 2.5% p.a. minimum
interest rate, as prescribed by the CPF Act, will apply to SMRA. In addition, from 1 Jan 08, the CPF Board
will pay an extra interest of 1% per annum on the first $60,000 of a CPF member’s combined balances,
including up to $20,000 in the OA. From 1 April 08, the first $20,000 in the Ordinary Account will not be
allowed to be invested under the CPF Investment Scheme. And from 1 May 09, the first $30,000 in the Special
Account will not be allowed to be invested under the CPF Investment Scheme.
Fund Manager’s Comments
The Singapore equity market edged up slightly in December
2015. Typical low liquidity and the long holiday period for
several Asian exchanges led to quiet trading. The well-flagged
decision by the US Federal Reserve to raise policy interest
rates did little to change sentiment, with investors now divided
as to whether more rate hikes will follow in quick succession, or
whether there could be a long hiatus before the next policy
move. More crucially for financial markets, the weaker Chinese
yuan fuelled speculation that the currency could fall further in
2016.
In terms of equity performance by sector, all sectors except
Telecoms and Capital Goods registered postiive returns for the
month. Real Estate Developers performed best, led by
Capitaland. Transportation companies continued to edge up on
low oil prices. Telcom and Capital Goods were the biggest
laggards. Telcos were held back by concerns over a potential
new entrant in upcoming spectrum auctions, whilst weak oil
prices weighed on the oil and gas-related names.
The Fund was up 0.55% in December, but underperformed the
Benchmark which was up 1.36% on stronger performance from
higher-beta names. Underperformance was driven mainly by
the Fund’s underweight in Transportation and Consumer
Discretionary sectors, coupled with an overweight in IT. Higher
cash holdings which have proven defensive previously also
weighed on returns. Underperformance was however mitigated
by an underweight exposure to capital goods and positive
stock selection among the REITs.
Key Information
Launch Date
Bid Price
Offer Price
CPFIS Risk Classification
Subscription
Price published In
Min Investment
:
:
:
:
:
:
:
1 September 2000
Launch Price
:S$1.00
S$2.0461
Management Fee :1.65% p.a.
S$2.1538 @ 5% sales charge
Higher Risk - Narrowly Focused
CPFIS-OA/SRS/Cash
Dealing
:Daily
The Straits Times, Business Times, Lianhe Zaobao, www.manulife.com.sg
S$2000 (Annual), S$1000 (RSP Semi-Annual), S$500 (RSP Monthly), S$500 (top-up)
Important Information: This report is prepared by Manulife (Singapore) Pte. Ltd. and is provided for information purposes only. Past
performance is not necessarily a guide to future performance.
Manulife (Singapore) Pte. Ltd. A Manulife Company. Reg. No. 198002116D
51 Bras Basah Road #09-00 Manulife Centre, Singapore 189554 Tel: 6737 1221 Fax: 6737 8488 Website: www.manulife.com.sg