Manulife launches preferred securities income fund

KUALA LUMPUR (THE STAR) – Manulife Investment Management (M) Bhd has launched the Manulife Preferred Securities Income Fund, an alternative investment solution that provides equity-like capital growth features and bond-like income streams.

The globally oriented fund invests in preferred securities issued by companies that are defensive in nature, such as banks, utilities, and real estate investment trusts (REITs), which are usually large and highly regulated organisations with stable cash flows, Manulife said in a statement yesterday.

“Depending on the level of income (if any) the fund generates, the fund aims to distribute all or part of its distributable income on a quarterly basis,” the asset management company said.