Manulife Investments Targets Under-researched Singapore Small‑ and Mid‑Caps With New Income Strategy
Strategy developed under MAS EQDP to capture under-researched opportunities in Singapore equities
SINGAPORE, March 3, 2026 /PRNewswire/ -- Manulife Investments today announced the launch of the Manulife Singapore Opportunities Income Strategy ("the Strategy"), a Singapore-focused equity income and growth strategy introduced under the Monetary Authority of Singapore's (MAS) Equity Market Development Programme (EQDP).
The Strategy aligns with EQDP's broader market‑building efforts aimed at deepening research coverage, improving liquidity and broadening investor participation. It is designed to capture the opportunities emerging as these enhancements strengthen the overall ecosystem, particularly in areas of the market that remain under‑researched. Investing exclusively in Singapore‑listed equities and equity‑related securities across market capitalisations, the Strategy places particular emphasis on small‑ and mid‑cap companies, where lower coverage and persistent valuation inefficiencies create a compelling opportunity set.
"Being selected for MAS's EQDP is a meaningful endorsement of our deep understanding of Singapore's equity market and our on-the-ground investment capabilities." said Hui-Jian Koh, Chief Executive Officer, Singapore, Manulife Investments.
"Our Singapore‑based investment team is deeply connected to the local market, supported by the breadth of our Asia and global research network. This combination of local expertise and regional depth allows us to identify opportunities in Singapore that are often under‑researched. The Singapore Opportunities Income Strategy builds on this foundation, offering investors a differentiated income‑and‑growth proposition while contributing to the continued development of Singapore's equity ecosystem", Koh concluded.
Income and growth through a disciplined, bottom-up approach
The Manulife Singapore Opportunities Income Strategy seeks to deliver a balanced income and growth outcome through active stock selection. Income is generated primarily through dividends, complemented by disciplined profit-taking as stocks approach fair value, while retaining exposure to longer-term growth opportunities.
Rather than operating as a pure dividend strategy, the portfolio is constructed to balance income stability with capital appreciation, enabling investors to benefit from valuation re-ratings arising from corporate restructuring, capital management initiatives and market reforms.
Stock selection is driven by a bottom-up, fundamentals-based investment framework, which assesses companies across growth prospects, cash-flow generation, management quality and valuation, with a strong emphasis on identifying clear catalysts for potential re-rating.
Capturing value in under‑researched small‑ and mid‑cap names
Hock Fai Chan, Head of Equities, Singapore, Manulife Investment Management, said: "Singapore's unique equity universe offers a broad and diverse opportunity set that extends well beyond the largest index constituents. We continue to see valuation gaps in small- and mid-cap companies, where research coverage is limited and catalysts for change are increasingly evident. This strategy is designed to capture these opportunities while contributing to the broader development of the market."
Singapore's small- and mid-cap segment presents a particularly compelling opportunity set, given lower sell-side coverage, greater pricing inefficiencies and a rising focus on shareholder returns.
The strategy will typically hold 30 to 50 high‑conviction positions, constructed with a strong emphasis on risk discipline, liquidity awareness and diversification. While benchmarked to the FTSE ST All‑Share Index, portfolio construction remains conviction‑led rather than index‑replicated, enabling the strategy to allocate more dynamically to areas of mispricing.
Singapore's structural strengths underpin the investment case
Singapore's appeal as a financial and wealth hub continues to strengthen, supported by resilient macroeconomic fundamentals — including sustained per‑capita GDP growth, robust foreign direct investment flows and sizeable national reserves. Singapore equities have also been among the best‑performing markets globally, returning close to 36%1 in the past year and outperforming regional and developed‑market peers. At the same time, dividend yields of around 4.8%2 remain among the highest across Asia and major developed markets, reinforcing the market's safe‑haven appeal for income‑oriented investors. Structural reforms — including MAS's EQDP — are beginning to lift research coverage and deepen market liquidity. This progress is particularly evident in the small‑ and mid‑cap segment, where under‑analysed companies are starting to attract more attention from investors. As companies accelerate restructuring efforts and deploy increasingly efficient balance sheets, structural growth trends in digital infrastructure, data centres and the energy transition are adding depth to the opportunity set and supporting a constructive medium‑term outlook for Singapore equities.
For more information about the Manulife Singapore Opportunities Income Strategy, visit: Manulife Singapore Opportunities Income Fund.
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management's mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Our strength comes from the diversity of our global asset management expertise and distribution capabilities. Our global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. We provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of our approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how we build long-term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
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1 Source: Bloomberg, as of December 31, 2025. Performance in USD. Europe = Euro Stoxx 50 Index, Singapore = FTSE ST All Share Index. Asia ex Japan = MSCI AC Asia ex Japan Index, Japan = Nikkei 225 Index, World = MSCI AC World Index, US = S&P 500 Index, |
2 Source: Bloomberg, J.P. Morgan. November 2025. |
SOURCE Manulife Wealth & Asset Management
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