4 December Affluence Reg
4 December Affluence Reg
4 December Affluence Reg
Investment Objective
The Fund seeks to achieve a stable and long-term growth by investing in government securities and/or high quality corporate debt securities and/or
pooled fund/s that invest in these securities and other liquid fixed income instruments.
Fund Information
Inception date
Fund size
Fund currency
Dealing/valuation
April 2004
Philippine peso
Daily
Price (NAV/unit)
Management fee
PHP 2.631
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception
Absolute
-0.23%
1.86%
1.86%
23.46%
58.49%
163.10%
1.86%
7.28%
9.65%
9.42%
Annualized
not applicable
3.00
2.80
RTB 10/24/37
FXTN 12/16/35
FXTN 08/20/24
RTB 08/15/23
FXTN 07/19/31
2.60
2.40
2.20
2.00
1.80
1.60
13.4%
8.8%
8.0%
7.8%
7.5%
FXTN
FXTN
FXTN
FXTN
FXTN
09/04/16
04/25/16
05/22/17
07/05/17
03/31/17
31.9%
30.9%
21.9%
5.1%
2.4%
1.40
1.20
Notes:
1.00
Monthly Performance
4%
Short-Term
Bond Pool
Bond 3%
Pool
2%
Portfolio Breakdown
8.0%
92.0%
62,249,149.93
Affluence
MI*
715,581,826.04
777,830,975.97
1%
0%
-1%
-2%
-3%
-4%
*Market Indicator = 90% HSBC Liquid Total Return + 10% HSBC 1-3 Yr Total Return
Bond Pool
92.0%
As of December 30, 2014, 90% of the subscription was invested in the Bond Pool and 10%
in the Short-Term Bond Pool. The investments of these pools consist of the following:
Past performance is not an indication of future results. Information about the portfolio's holdings,
* Peso Bond Pool: Peso-denominated bonds of the Republic of the Philippines and
asset allocation, or country diversification is historical and is not an indication of future portfolio
term deposits.
* Short Term Bond Pool: Peso-denominated bonds of the Republic of the Philippines
with a term of up to three years and term deposits.
Market Review
The local bond market had a mixed performance as the yields of long dated bonds declined while the yields of shorter dated bonds rose monthon-month. Moderating inflation pressures and strengthened expectations of steady monetary policy settings stoked demand for long dated
bonds. Average daily trading volume dropped to Php14.6 billion from Php33.4 billion in November as investors locked in positions for the year.
Headline inflation declined further to 3.7% in November from 4.3% in October. Core inflation likewise slowed down to 2.7% from 3.2%. The
continued deceleration in the prices of fuel, electricity and food products were the key drivers of the lower than expected inflation level. The
central bank maintained its policy and SDA rates given the broadly balanced risks to the inflation outlook.
Meanwhile, Moodys raised its credit rating on the Philippines to Baa2 from Baa3 with a stable outlook. The key drivers of the credit rating
upgrade include favorable growth prospects, resilience to external risks and ongoing debt reduction, which is supported by improvements in
fiscal management.
The Fund mentioned in this document is specific to variable life insurance contracts and is not considered a mutual fund. Yields depend on interest and foreign exchange rate levels,
both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further,
investments of the Fund may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in
negative fluctuations in the value of these investments and, in turn, the Funds yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy
could be less than the capital invested. THE VARIABLE LIFE POLICYHOLDER SHALL BEAR ALL INVESTMENT RISKS. Past performance of the Fund is not necessarily indicative of
future performance. Yields are not guaranteed.
The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but The Manufacturers Life Insurance Co. (Phils.), Inc.
("Manulife Philippines") does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use
hereof or the information and/or analysis contained herein. Information about the portfolios holdings, asset allocation, or country diversification is historical and is not an indication of
future portfolio composition, which will vary. Neither Manulife Philippines or its affiliates, nor any of their directors, officers or employees shall assume any liability or responsibility for any
direct or indirect loss or damage or any other consequence of any person acting or not acting in reliance on the information contained herein.
The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only
as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this material including
statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
This material was prepared solely for informational purposes and does not constitute a recommendation, professional advice, an offer, solicitation or an invitation by or on behalf of
Manulife Philippines to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any
investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or
strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. Past performance is not an indication of future results.
Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and used by it and its affiliates including Manulife Financial
Corporation.
Investment Objective
The Fund seeks to achieve long-term growth by investing in government securities and/or high quality corporate debt securities, stocks listed on the
Philippine Stock Exchange and/or in pooled fund/s that invest in these securities and other liquid fixed income instruments.
Fund Information
Inception date
Fund size
Fund currency
Dealing/valuation
April 2004
Philippine peso
Daily
Price (NAV/unit)
Management fee
PHP 2.704
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception
Absolute
-0.33%
5.83%
5.83%
29.01%
65.48%
170.40%
5.83%
8.86%
10.60%
9.69%
Annualized
not applicable
3.00
2.80
2.60
2.40
2.20
2.00
1.80
1.60
1.40
1.20
1.00
Equity Pool
SM Investments
PLDT
Ayala Land
Universal Robina
BDO Unibank
9.2%
8.7%
8.6%
7.1%
6.5%
FXTN 07/05/17
FXTN 03/31/17
5.1%
2.4%
Monthly Performance
Bond Pool
Equity Pool
3%
Short-Term Bond Pool
2%
Portfolio Breakdown
60.6%
23.1%
16.3%
425,669,861.41
162,430,355.85
Affluence
MI*
114,318,234.54
702,418,451.80
1%
0%
-1%
-2%
-3%
Monthly Performance
Equity Pool
23.1%
Bond Pool
60.6%
-4%
*Market Indicator = 60% HSBC Liquid Total Return + 20% HSBC 1-3 Yr Total Return + 20% PSEi
As of December 30, 2014, 60% of the subscription was invested in the Bond Pool and 20%
each in the Short-Term Bond and Equity Pools. The investments of these pools consist
Past performance is not an indication of future results. Information about the portfolio's holdings,
of the following:
asset allocation, or country diversification is historical and is not an indication of future portfolio
* Peso Bond Pool: Peso-denominated bonds of the Republic of the Philippines and
term deposits.
* Short Term Bond Pool: Peso-denominated bonds of the Republic of the Philippines
* Equity Pool: Various stocks listed on the PSE and term deposits
Market Review
The PSEi succumbed to profit taking in December, correcting by -0.87% to end the year at 7,230.57. The local equity market fell as much as
4.5% during the month on heavy foreign selling, which reached a net total of US$128 million. Investors confidence was restored on prospects
of lower inflation pressure given the collapse in oil prices. The local index still managed to post a strong 22.8% gain in 2014, marking the sixth
straight year of positive returns.
Gaming names were the biggest laggards with Bloomberry Resorts (-10.8%) and Melco Crown (-6.1%) leading the declines. This came amidst
renewed competition risk with the opening of City of Dreams Manila. These companies were also hurt by dampened regional sentiment for
casino operators on the back of Chinas intensified corruption crackdown, which took a toll on regional gaming revenues. In contrast,
consumer companies bucked the downtrend driven by Robinsons Retail (+4.4%) and Jollibee Foods (+3.9%). The consumer sector is
expected to be a main beneficiary of lower oil prices, which could boost discretionary spending.
The local bond market, on the other hand, had a mixed performance as the yields of long dated bonds declined while the yields of shorter
dated bonds rose month-on-month. Moderating inflation pressures and strengthened expectations of steady monetary policy settings fueled
demand for long dated bonds. Average daily trading volume dropped to Php14.6 billion from Php33.4 billion in November as investors locked
in positions for the year.
Headline and core inflation declined further to 3.7% and 2.7%, respectively in November, from 4.3% and 3.2%, respectively, in October. The
continued decline in prices of oil, electricity and food products drove inflation downwards. The central bank maintained its policy and SDA
rates given the broadly balanced risks to the inflation outlook.
Moodys raised its credit rating on the Philippines to Baa2 from Baa3 with a stable outlook. The key drivers of the credit rating upgrade include
favorable growth prospects, resilience to external risks and ongoing debt reduction, which is supported by improvements in fiscal
management.
The Fund mentioned in this document is specific to variable life insurance contracts and is not considered a mutual fund. Yields depend on interest and foreign exchange rate levels,
both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further,
investments of the Fund may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in
negative fluctuations in the value of these investments and, in turn, the Funds yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy
could be less than the capital invested. THE VARIABLE LIFE POLICYHOLDER SHALL BEAR ALL INVESTMENT RISKS. Past performance of the Fund is not necessarily indicative of
future performance. Yields are not guaranteed.
The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but The Manufacturers Life Insurance Co. (Phils.), Inc.
("Manulife Philippines") does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use
hereof or the information and/or analysis contained herein. Information about the portfolios holdings, asset allocation, or country diversification is historical and is not an indication of
future portfolio composition, which will vary. Neither Manulife Philippines or its affiliates, nor any of their directors, officers or employees shall assume any liability or responsibility for any
direct or indirect loss or damage or any other consequence of any person acting or not acting in reliance on the information contained herein.
The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only
as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this material including
statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
This material was prepared solely for informational purposes and does not constitute a recommendation, professional advice, an offer, solicitation or an invitation by or on behalf of
Manulife Philippines to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any
investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or
strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. Past performance is not an indication of future results.
Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and used by it and its affiliates including Manulife Financial
Corporation.
Investment Objective
The Fund seeks to achieve long-term capital appreciation by investing in stocks listed on the Philippine Stock Exchange, government
securities and/or pooled fund/s that invest in these securities and other liquid instruments.
Fund Information
Inception date
Fund size
Fund currency
Dealing/valuation
September 2007
Philippine peso
Daily
Price (NAV/unit)
Management fee
PHP 2.395
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception
Absolute
-0.62%
23.64%
23.64%
72.30%
144.89%
139.50%
23.64%
19.88%
19.62%
12.67%
Annualized
not applicable
2.60
2.40
2.20
2.00
1.80
1.60
1.40
1.20
1.00
0.80
0.60
SM Investments
PLDT
Ayala Land
Universal Robina
BDO Unibank
Monthly Performance
Equity
8.0%Pool
9.2%
8.7%
8.6%
7.1%
6.5%
Portfolio Breakdown
100.0%
Affluence
MI*
6.0%
4.0%
2.0%
0.0%
-2.0%
Equity Pool
100%
-4.0%
-6.0%
-8.0%
Past performance is not an indication of future results. Information about the portfolio's holdings,
Equity Pool. The investments of the Equity Pool consist of stocks listed
asset allocation, or country diversification is historical and is not an indication of future portfolio
Market Review
The PSEi succumbed to profit taking in December, correcting by -0.87% to end the year at 7,230.57. The local equity market fell as much as 4.5% during the
month on heavy foreign selling, which reached a net total of US$128 million. Investors confidence was restored on prospects of lower inflationary pressure
given the collapse in oil prices. The PSEi still managed to post a strong 22.8% gain in 2014, marking the sixth straight year of positive returns.
Gaming companies were the biggest laggards with Bloomberry Resorts (-10.8%) and Melco Crown (-6.1%) leading the declines. This came amidst renewed
competition risk with the opening of City of Dreams Manila. Gaming companies were also hurt by dampened regional sentiment for casino operators on the
back of Chinas intensified corruption crackdown, which took a toll on regional gaming revenues. In contrast, consumer companies bucked the downtrend
driven by Robinsons Retail (+4.4%) and Jollibee Foods (+3.9%). The consumer sector is expected to be a main beneficiary of lower oil prices, which could
boost discretionary spending.
The Fund mentioned in this document is specific to variable life insurance contracts and is not considered a mutual fund. Yields depend on interest and foreign exchange rate levels,
both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further,
investments of the Fund may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in
negative fluctuations in the value of these investments and, in turn, the Funds yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy
could be less than the capital invested. THE VARIABLE LIFE POLICYHOLDER SHALL BEAR ALL INVESTMENT RISKS. Past performance of the Fund is not necessarily indicative of
future performance. Yields are not guaranteed.
The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but The Manufacturers Life Insurance Co. (Phils.), Inc.
("Manulife Philippines") does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use
hereof or the information and/or analysis contained herein. Information about the portfolios holdings, asset allocation, or country diversification is historical and is not an indication of
future portfolio composition, which will vary. Neither Manulife Philippines or its affiliates, nor any of their directors, officers or employees shall assume any liability or responsibility for any
direct or indirect loss or damage or any other consequence of any person acting or not acting in reliance on the information contained herein.
The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only
as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this material including
statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
This material was prepared solely for informational purposes and does not constitute a recommendation, professional advice, an offer, solicitation or an invitation by or on behalf of
Manulife Philippines to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any
investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or
strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. Past performance is not an indication of future results.
Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and used by it and its affiliates including Manulife Financial
Corporation.
Investment Objective
The Fund seeks to achieve long-term capital appreciation by investing in USD denominated sovereign and corporate debt securities and/or pooled fund/s
that invest in these securities and other liquid instruments.
Fund Information
Inception date
Fund size
Fund currency
Dealing/valuation
November 2004
US Dollar
Daily
Price (NAV/unit)
Management fee
$2.092
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception
Absolute
0.43%
8.11%
8.11%
12.53%
35.49%
109.20%
8.11%
4.01%
6.26%
7.56%
Annualized
not applicable
2.30
ROP 34
ROP 31
ROP 30
ROP 21
ROP 25
2.10
1.90
1.70
1.50
10.8%
10.0%
9.4%
9.3%
7.7%
1.30
1.10
0.90
Notes:
*ROP - Republic of the Philippines dollar-denominated bonds
Monthly Performance
USD Bond Pool
Portfolio Breakdown
100%
3%
Affluence
MI*
2%
1%
0%
-1%
-2%
Monthly
Performance
USD Bond
Pool, 100%
Past performance is not an indication of future results. Information about the portfolio's holdings,
USD Bond Pool. The investments of the USD Bond Pool consist of
asset allocation, or country diversification is historical and is not an indication of future portfolio
Market Review
Philippine dollar-denominated bond (ROP) prices continued to track the direction of U.S. Treasury bond (UST) prices. UST prices rose as
investors chased higher-yielding safe haven securities amid concerns over faltering global economic growth. The move was exacerbated by
the rapid decline in oil prices, which not only threatened the economic health of net oil exporters, but also heightened the risk of deflation in the
Eurozone.
The U.S. continued to show an improvement in the pace of its economic growth with both manufacturing and non-manufacturing data in
November growing at a faster than expected speed. The rate of hiring in the U.S. also surprised to the upside with 321,000 new jobs added in
November, putting the U.S. labor market on track for the strongest annual job growth since 1999. Although the jobless rate stayed at a 6-year
low of 5.8%, average wage earnings unexpectedly rose by 0.4% for the first time since mid-2013. The sustained gains in the labor market and
the plunge in oil prices are expected to provide added stimulus to economic activity. However, tentative wage pressures and falling oil prices
have fanned market expectations that the Fed may rule out a policy change in the first half of the year, as inflation has stayed below the Fed's
2% target despite strengthening economic activity.
In the Eurozone, deflation worries intensified because of the oil price slump and sluggish economic recovery. Investors are waiting to see if the
European Central Bank (ECB) will be able to push through with its planned launch of its own version of quantitative easing to stave off
deflation. Given the bleak economic growth prospects in the Eurozone, demand for higher-yielding safe haven securities pushed the prices of
USTs higher.
The Fund mentioned in this document is specific to variable life insurance contracts and is not considered a mutual fund. Yields depend on interest and foreign exchange rate levels,
both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further,
investments of the Fund may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in
negative fluctuations in the value of these investments and, in turn, the Funds yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy
could be less than the capital invested. THE VARIABLE LIFE POLICYHOLDER SHALL BEAR ALL INVESTMENT RISKS. Past performance of the Fund is not necessarily indicative of
future performance. Yields are not guaranteed.
The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but The Manufacturers Life Insurance Co. (Phils.), Inc.
("Manulife Philippines") does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use
hereof or the information and/or analysis contained herein. Information about the portfolios holdings, asset allocation, or country diversification is historical and is not an indication of
future portfolio composition, which will vary. Neither Manulife Philippines or its affiliates, nor any of their directors, officers or employees shall assume any liability or responsibility for any
direct or indirect loss or damage or any other consequence of any person acting or not acting in reliance on the information contained herein.
The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only
as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this material including
statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
This material was prepared solely for informational purposes and does not constitute a recommendation, professional advice, an offer, solicitation or an invitation by or on behalf of
Manulife Philippines to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any
investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or
strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. Past performance is not an indication of future results.
Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and used by it and its affiliates including Manulife Financial
Corporation.
Investment Objective
The Fund seeks to achieve long-term capital growth through investments in diversified portfolios of peso-denominated fixed income securities and securities
listed on the Philippine Stock Exchange and/or pooled fund/s that invest in these securities and other liquid fixed income instruments.
Fund Information
Inception date
Fund size
Fund currency
Dealing/valuation
July 2013
Philippine peso
Daily
Price (NAV/unit)
Management fee
PHP 1.069
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception
Absolute
-0.47%
12.05%
12.05%
n.a
n.a
6.90%
12.05%
n.a
n.a
4.56%
Annualized
n.a
1.10
RTB 10/24/37
FXTN 12/16/35
FXTN 08/20/24
RTB 08/15/23
FXTN 07/19/31
1.05
1.00
0.95
Equity Pool
13.4%
8.8%
8.0%
7.8%
7.5%
SM Investments
PLDT
Ayala Land
Universal Robina
BDO Unibank
9.2%
8.7%
8.6%
7.1%
6.5%
Notes:
0.90
Monthly Performance
Portfolio Breakdown
4%
Bond Pool
40.1%
123,482,741.67
Equity Pool
3%
59.9%
184,132,440.73
2%
Affluence
MI*
307,615,182.40
1%
0%
Bond Pool
40.1%
-1%
-2%
-3%
Equity Pool
59.9%
-4%
-5%
*Market Indicator = 50% HSBC Liquid Total Return + 50% PSE Index
As of December 30, 2014, 40% of the subscription was invested in the Bond Pool and 60%
in the Equity Pool. The investments in these pools consist of:
Past performance is not an indication of future results. Information about the portfolio's holdings,
* Peso Bond Pool: Peso-denominated bonds of the Republic of the Philippines and
asset allocation, or country diversification is historical and is not an indication of future portfolio
term deposits.
* Peso Equity Pool: Various stocks listed on the PSE and term deposits.
Market Review
The PSEi succumbed to profit taking in December, correcting by -0.87% to end the year at 7,230.57. The local equity market fell as much as
4.5% during the month on heavy foreign selling, which reached a net total of US$128 million. Investors confidence was restored on prospects
of lower inflation pressure given the collapse in oil prices. The local index still managed to post a strong 22.8% gain in 2014, marking the sixth
straight year of positive returns.
Gaming names were the biggest laggards with Bloomberry Resorts (-10.8%) and Melco Crown (-6.1%) leading the declines. This came amidst
renewed competition risk with the opening of City of Dreams Manila. These companies were also hurt by dampened regional sentiment for
casino operators on the back of Chinas intensified corruption crackdown, which took a toll on regional gaming revenues. In contrast,
consumer companies bucked the downtrend driven by Robinsons Retail (+4.4%) and Jollibee Foods (+3.9%). The consumer sector is
expected to be a main beneficiary of lower oil prices, which could boost discretionary spending.
The local bond market, on the other hand, had a mixed performance as the yields of long dated bonds declined while the yields of shorter
dated bonds rose month-on-month. Moderating inflation pressures and strengthened expectations of steady monetary policy settings fueled
demand for long dated bonds. Average daily trading volume dropped to Php14.6 billion from Php33.4 billion in November as investors locked
in positions for the year.
Headline and core inflation declined further to 3.7% and 2.7%, respectively in November, from 4.3% and 3.2%, respectively, in October. The
continued decline in prices of oil, electricity and food products drove inflation downwards. The central bank maintained its policy and SDA
rates given the broadly balanced risks to the inflation outlook.
Moodys raised its credit rating on the Philippines to Baa2 from Baa3 with a stable outlook. The key drivers of the credit rating upgrade include
favorable growth prospects, resilience to external risks and ongoing debt reduction, which is supported by improvements in fiscal
management.
The Fund mentioned in this document is specific to variable life insurance contracts and is not considered a mutual fund. Yields depend on interest and foreign exchange rate levels,
both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further,
investments of the Fund may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in
negative fluctuations in the value of these investments and, in turn, the Funds yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy
could be less than the capital invested. THE VARIABLE LIFE POLICYHOLDER SHALL BEAR ALL INVESTMENT RISKS. Past performance of the Fund is not necessarily indicative of
future performance. Yields are not guaranteed.
The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but The Manufacturers Life Insurance Co. (Phils.), Inc.
("Manulife Philippines") does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use
hereof or the information and/or analysis contained herein. Information about the portfolios holdings, asset allocation, or country diversification is historical and is not an indication of
future portfolio composition, which will vary. Neither Manulife Philippines or its affiliates, nor any of their directors, officers or employees shall assume any liability or responsibility for any
direct or indirect loss or damage or any other consequence of any person acting or not acting in reliance on the information contained herein.
The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only
as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this material including
statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
This material was prepared solely for informational purposes and does not constitute a recommendation, professional advice, an offer, solicitation or an invitation by or on behalf of
Manulife Philippines to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any
investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or
strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. Past performance is not an indication of future results.
Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and used by it and its affiliates including Manulife Financial
Corporation.
Investment Objective
The Fund aims to provide periodic payouts of up to 3% per annum* while providing the potential for capital appreciation and limiting the risk of capital erosion
by investing in a diversified portfolio of fixed income and equity investments based on an active asset allocation strategy.
Fund Information
Inception date
Fund size
Fund currency
Dealing/valuation
April 2014
Philippine peso
Daily
Price (NAV/unit)
Management fee
PHP 1.010
2.00% per annum (of which 0.2% will go to the investment advisor, MAM Hong Kong Ltd.)
1 Month
YTD
1 Year
3 Year
5 Year
Since Inception
Absolute
-0.69%
n.a
n.a
n.a
n.a
1.00%
n.a
n.a
n.a
n.a
Annualized
n.a
1.05
1.00
0.95
Equity Pool
SM Investments
PLDT
Ayala Land
Universal Robina
BDO Unibank
FXTN 07/05/17
FXTN 03/31/17
9.2%
8.7%
8.6%
7.1%
6.5%
5.1%
2.4%
Monthly Performance
Portfolio Breakdown
2%
Affluence
MI**
Bond Pool
67.9%
64,928,758.79
Equity Pool
20.2%
19,305,613.12
1% Bond Pool
Short-Term
11.9%
11,423,263.76
95,657,635.67
0%
Equity Pool,
20.2%
Bond Pool, 67.9%
-1%
As of December 30, 2014, 68% of the subscription was invested in the Bond Pool, 12% in the
Short-Term Bond Pool and 20% in the Equity Pool. The investments of these pools consist of:
* Peso Bond Pool: Peso-denominated bonds of the Republic of the Philippines and term deposits.
* Short Term Bond Pool: Peso-denominated bonds of the Republic of the Philippines with a term of
Past performance is not an indication of future results. Information about the portfolio's holdings,
asset allocation, or country diversification is historical and is not an indication of future portfolio
* Equity Pool: Various stocks listed on the Philippine Stock Exchange and term deposits.
Market Review
The PSEi succumbed to profit taking in December, correcting by -0.87% to end the year at 7,230.57. The local equity market fell as much as 4.5%
during the month on heavy foreign selling, which reached a net total of US$128 million. Investors confidence was restored on prospects of lower
inflation pressure given the collapse in oil prices. The local index still managed to post a strong 22.8% gain in 2014, marking the sixth straight year
of positive returns.
Gaming names were the biggest laggards with Bloomberry Resorts (-10.8%) and Melco Crown (-6.1%) leading the declines. This came amidst
renewed competition risk with the opening of City of Dreams Manila. These companies were also hurt by dampened regional sentiment for casino
operators on the back of Chinas intensified corruption crackdown, which took a toll on regional gaming revenues. In contrast, consumer companies
bucked the downtrend driven by Robinsons Retail (+4.4%) and Jollibee Foods (+3.9%). The consumer sector is expected to be a main beneficiary
of lower oil prices, which could boost discretionary spending.
The local bond market, on the other hand, had a mixed performance as the yields of long dated bonds declined while the yields of shorter dated
bonds rose month-on-month. Moderating inflation pressures and strengthened expectations of steady monetary policy settings fueled demand for
long dated bonds. Average daily trading volume dropped to Php14.6 billion from Php33.4 billion in November as investors locked in positions for the
year.
Headline and core inflation declined further to 3.7% and 2.7%, respectively in November, from 4.3% and 3.2%, respectively, in October. The
continued decline in prices of oil, electricity and food products drove inflation downwards. The central bank maintained its policy and SDA rates
given the broadly balanced risks to the inflation outlook.
Moodys raised its credit rating on the Philippines to Baa2 from Baa3 with a stable outlook. The key drivers of the credit rating upgrade include
favorable growth prospects, resilience to external risks and ongoing debt reduction, which is supported by improvements in fiscal management.
The Fund mentioned in this document is specific to variable life insurance contracts and is not considered a mutual fund. Yields depend on interest and foreign exchange rate levels,
both of which may fluctuate. Other factors that affect yield include changes in the credit standing of the issuers and changes in the value of the stocks and dividends received. Further,
investments of the Fund may provide that their values be determined based on prices or yields of other securities, instruments or foreign currencies, and such provisions may result in
negative fluctuations in the value of these investments and, in turn, the Funds yields. Thus, the performance of the separate account(s) is not guaranteed and the value of the policy
could be less than the capital invested. THE VARIABLE LIFE POLICYHOLDER SHALL BEAR ALL INVESTMENT RISKS. Past performance of the Fund is not necessarily indicative of
future performance. Yields are not guaranteed.
The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but The Manufacturers Life Insurance Co. (Phils.), Inc.
("Manulife Philippines") does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use
hereof or the information and/or analysis contained herein. Information about the portfolios holdings, asset allocation, or country diversification is historical and is not an indication of
future portfolio composition, which will vary. Neither Manulife Philippines or its affiliates, nor any of their directors, officers or employees shall assume any liability or responsibility for any
direct or indirect loss or damage or any other consequence of any person acting or not acting in reliance on the information contained herein.
The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only
as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. The information in this material including
statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.
This material was prepared solely for informational purposes and does not constitute a recommendation, professional advice, an offer, solicitation or an invitation by or on behalf of
Manulife Philippines to any person to buy or sell any security. This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any
investment products or to adopt any investment strategy. Nothing in this material constitutes investment, legal, accounting or tax advice, or a representation that any investment or
strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. Past performance is not an indication of future results.
Manulife and the block design are registered service marks and trademarks of The Manufacturers Life Insurance Company and used by it and its affiliates including Manulife Financial
Corporation.