How to trade MAFEQI? What is the trading fees?

The fund trading date is on Tuesday weekly. Investors want to invest in MAFEQI can contact our fund distributors as follow:

Manulife Asset Management (Vietnam) Company Limited - MAMV
Address: 4th floor, Manulife Plaza, 75 Hoang Van Thai, Dist 7, HCMC
Tel: 08 54160760       Fax: 08 54160761

Saigon Securities Incorporation (SSI) - Head office
Address: 72 Nguyen Hue, Dist 1, HCMC
Tel:   08 - 3824 2897 Fax: 08 - 3824 3997

Saigon Securities Incorporation – Hanoi branch
Address: 1C Tran Hung Dao, Hoan Kiem District, Hanoi
Tel: 04-3936 6321 Fax: 04-3936 631

Ho Chi Minh Securities Corporation (HSC)– Head office
Address: 5 - 6th Floor, A&B Tower, 76A Le Lai, Ben Thanh Ward, Dist 1, HCMC
Tel: 08 - 3823 3299 Fax: 08 - 3823 3301

Ho Chi Minh Securities Corporation – Hanoi branch
Address: 5 - 6th floor,66A Building, Tran Hung Dao, Hoan Kiem District, Hanoi
Tel: 04 - 3922 4693 Fax: 04 - 3933 4822

Trading fees of MAFEQI are calculated as percentage to trading value with details as follow:

Subscription order

  • 2% for Subscription value from 0 to VND250mio
  • 1.5% for Subscription value above VND250mio to VND1bio
  • 1% for Subscription value above VND1bio to VND10bio
  • 0.5% for Subscription value above VND10bio.

Redemption order (* by first in first out basis)

  • 2% for fund certificate holding tenor of less than 6 months
  • 1.5% for fund certificate holding tenor of above 6 months to 12 months
  • 1% for fund certificate holding tenor of above 12 months to 18 months
  • 0.5% for fund certificate holding tenor of above 18 months
Who is suitable for investment in MAFEQI Fund?
  • The Investor who is looking for an alternative investment channel besides traditional investment channels as gold, real estate, forex, bank deposit.
  • The Investor who is looking for profit from investing in stock but has limit of experiences and time for doing research and implement his/her plan.
  • The Investor who wants to invest in various companies with limited invested amount.
  • The Investor who is willing to take high risk because MAFEQI can be fluctuated in short-term, however it brings higher potential profit compared to other traditional investment channels.
  • The Investor who has free cashflow for investment tenor of 2 years and more.
  • The Investor who is looking for pension plan tool
  • The foreigner individual and institutional investor who wishes to invest in Vietnam stock market (not applicable to US or US indicia Investor, please contact us for details)
Manulife Asset Management (Vietnam) Company Limited ("ManulifeAM Vietnam") introduced Manulife Equity Fund (MAFEQI) in Oct 2014, please describe the fund main characteristics?

Manulife Equity Fund (MAFEQI) is an open ended fund was introduced and will be managed by ManulifeAM Vietnam.

The investment objective of MAFEQI Fund is long term capital appreciation while reducing investment risks to certain extent through investing a significant portion in non-cyclical stocks that are still generating strong growth in coming years. MAFEQI Fund targets to invest in Vietnam listed stocks with an emphasis on non-cyclical sectors and smaller portion into growth stocks which have high growth potentials.

For further information of the fund, please visit our website www.manulifeam.com.vn or our helpdesk number 08 54160760

What has the fund done given that the SBV is tightening liquidity and securities lending remains tight?

Given the weak outlook for the banking sector, we have purposely reduced our holdings in the banking sector stocks. We continue to maintain our underweight stance in property sectors as well in light of the current challenges being faced by the banking and the property sectors. We believe that banks and property companies will also have a challenging year ahead.

We have added positions in sectors that we think will be earnings defensive in nature given the volatile environment that we face in the short term. Our key overweight sectors are Oil and Gas and the Utilities sectors.

Does MAFPF1 fund manager intend to change the fund strategy because of recent market conditions?
Our investment strategy to invest into Vietnam’s key competencies remains unchanged. Our view on the prospects of the Vietnamese economy continues to be bullish. The market is currently in a correction and as such, we continue to monitor the situation and more importantly, the fundamentals (such as earnings growth) of the companies that we have invested in.

We are taking a cautious approach in implementing our 2008 investment plan and will continue to closely watch the market in order to have appropriate actions to adjust our investment plan accordingly.

Since MAFPF1 launched in October, the fund has declined by about 30%, significantly less than the decline in the benchmark VN Index, of about close to 50%. Thus, our diversified portfolio and our stock selection methods have provided investors with added value. The MAFPF1 is an equity fund and as such, will always have an equity component.
What’s your advice, as an investment professional/ expert, to investors in this situation?
Fundamentals continue to be the main driving factor for our investments in the stock market and we believe that should not change. We continue to have a strong belief in the long-term growth potential of   the stock market and believe investors should not be influenced by short-term fluctuations in stock prices. As we have been stressing since the beginning of our fund, key to any investment decision should be a detailed study of the potential investment prior to your investment action. Given the current volatility in markets, we continue to remain focused on company and sector fundamentals in all our investments
Given the current market conditions, what measures and actions have the fund manager been taking to improve the situation?
Keep in your mind that MAFPF1 is an EQUITY fund and therefore the fund manager has to invest within the mandate of the fund. On the one hand, the fund manager needs to maintain at least 60% of the fund’s holdings in equity market. On the other hand, he must be able to make defensive moves as the market changes. This is where a good fund manager with good stock picking abilities can help a fund to outperform - like ours has.

We have been actively monitoring the situation in the stock market and maintain a close watch on the stocks and the sectors that we are invested in. Given the decline in stock prices, the investment team continues to monitor the underlying fundamentals in the respective sectors and stocks to assess whether we need to maintain or adjust the portfolio.

Since October 2007, the VN Index has lost close to 50% of its value. As we have assessed back then that the weakness might persist, our investment team has deliberately limited its exposure to the market and has maintained a generous amount of cash (+20%). Some measures also have been taken to reduce our exposure to sectors which may be impact from recent changes in macro economy and tighten monetary polices.
What is the current market value of the fund?
To get up to date details of current values of the fund, investors can at anytime/from anywhere browse our website at www.manulifeam.com.vn for the information.

Net Asset Value (NAV) of the fund would be an important factor to look at when buying in the fund. However, market value of the fund can be varied on the daily basic depending on the market factors as demand vs. supply, “health” of the economy, other investment opportunities… and non-market factors; the psychology, patience and determination of investors are all important.
How about dividend distribution this year?
Investors should bear in mind that the primary objective of the fund is CAPITAL GROWTH POTENTIAL IN THE LONG TERM. The fund performance in the first one, two years may not be very high. Therefore, the operation earnings are likely to be   used to re-invest in and/or expand the portfolios, instead of paying out all to investors in the form of dividend. In other words, there may be NO DIVIDEND this year, however the fund may pay out a dividend in the future years.
Tell me how can I get a copy of the 2007 annual report of MAFPF1?
The 2007 annual reports with HSBC’s certification were filed to SSC, HOSE, Board of Representatives. The reports are available online on MVFM’s website at www.manulifefunds.com.vn in the section entitled "operations of the fund". There you will find copies of the reports for your reference and information.

We considered for having the next fiscal year 2008 annual reports professionally made and designed. They will be included in investors' package for the FY 2008 General Investors Meeting.
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