Get the full picture
Information overload isn’t so much a bug but a feature of investing. Do you know if your clients have the right set of tools to help them understand market developments through the right lens? Let us join you in your quest to broaden their perspective.
Recipient of five prestigious LSEG Lipper Fund Awards
Learn more
Award-winning performance: Manulife is among the top honourees from Fundata Canada
Learn moreManulife Fundamental Equity Fund ★★★★★
Recipient of the FundGrade A+ and LSEG Lipper Awards for its performance in 2024
We’re conditioned to keep an eye out for the next big thing, worried that a moment of inattention could lead to missed opportunities. But as we train our focus further afield, it’s just as important not to lose sight of the opportunities that are right in front of us.
Learn more about the fund
Performance
1 year |
3 year |
5 year |
10 year | 15 year | 20 year | Since inception |
|
|---|---|---|---|---|---|---|---|
Manulife Fundamental Equity Fund - Series F (MMF699) |
21.46% | 12.28% | 14.04% | 11.77% | 10.81% | 9.19% | 9.63% |
Canadian focused equity category |
22.17% | 9.39% | 11.31% | 8.70% | 9.32% | 7.68% | — |
Percentage of peers beaten |
52% | 86% | 85% | 90% | 82% | 84% | — |
Winning domestic performance—see the difference
Morningstar RatingTM
|
Overall |
3 year |
5 year |
10 year |
Rating |
★★★★★ |
★★★★ |
★★★★ |
★★★★★ |
Number of funds in the category |
— |
475 | 459 | 323 |
Source: Morningstar Direct, as of January 31, 2025
Difference in performance between Manulife Fundamental Equity Fund and its Morningstar category, rolling 5-year basis since inception
Since inception on a rolling 5-year basis, Manulife Fundamental Equity Fund has outperformed its Morningstar fund category 99% of the time, with an average annual outperformance of 279 basis points
Tangible cash flow:
a differentiated approach to valuing stocks
There are many ways to value a company. While some use established metrics such as price to earnings and price to sales, the team chooses to rely on tangible cash flow.
It's a meticulous process that entails combing through financial statements to understand a firm's sources of cash and how that's being allocated. Although this approach involves additional work, the outcome speaks for itself.
Fundamentals the team looks for
Historically focusing on these facets has helped generate attractive risk-adjusted returns over the long term.
More resources for your practice
"We liked the volatility": why inflation means opportunities
Inflation and volatility tend to evoke negative emotions as concerns about reduced affordability and market sell-offs creep in. It's an experience that Patrick Blais, CFA, FSA, senior portfolio manager of Manulife Fundamental Canadian Equity Fund, doesn't share; he views them as opportunities.
The state of Canadian financial institutions in the wake of bank failures abroad
The string of bank failures on both sides of the Atlantic in H1 2023 rocked the financial community. Our fundamental equity team takes a closer look at the Canadian banking sector and examines what differentiates it from its peers abroad.
Manulife Fundamental Equity Fund—fund profile
The fund's profile has everything you want to know about the fund. Learn about the fund's goals and philosophy and see how it's different from its competitors.
Learn more about the fundamental equity team
The hallmark of a truly well-run, high-quality business lies far beyond its profits. That’s why the fundamental equity team is intensely focused on a firm’s ability to generate free cash flow, the sustainability of its profits, and its valuation. Learn more about the team and its investment process.
Manulife Global Equity Class ★★★★
The argument for looking beyond our borders has rarely been more compelling. The S&P/TSX Composite Index returned 11.8% in 2023, while global equities, as represented by the MSCI All Country World Index, returned 18.9% during the same period.¹ Shifting macro dynamics such as deglobalization and the sustainability movement have created opportunities for investors to tap into stable, well-run companies that are located outside of Canada. It’s a simple, efficient way to complement your domestic portfolio.
Learn more about the fund
Performance²
1 year |
3 year |
5 year |
10 year | 15 year | Since inception² |
|
|---|---|---|---|---|---|---|
Manulife Global Equity Class - Series F (MMF4606) |
13.47% | 8.71% | 9.74% | 10.57% | 12.62% | 12.36% |
Global equity fund category |
25.08% | 10.08% | 10.39% | 8.83% | 9.85% | — |
Percentage of peers beaten |
5% | 34% | 43% | 81% | 94% | — |
2 Morningstar Direct, as of January 31, 2025. The fund was incepted on November 2, 2009.
A powerful combination—active and systematic portfolio management
Systematic bond screening
- Optimize sector weights and yield curve positoning
- Match volatility and duration of marketing index
- Preserve diversification and liquidity
Active screening and security selection
- Maximize yield
- Maintain index risk profile
- Minimize transaction costs
Morningstar RatingTM
|
Overall |
3 year |
5 year |
10 year |
Rating |
★★★★ |
★★★ |
★★★ |
★★★★ |
Number of funds in the category |
— |
1,547 | 1,283 | 655 |
Source: Morningstar Direct, as of January 31, 2025
Global equities as a way to mitigate risk
Concentration risk is real and can take many forms—home bias, sector bias, and style bias are common examples. It's an important consideration in the portfolio construction process. Investing in global equities, for instance, can be a useful way to mitigate home bias, complement investors’ domestic allocations, and potentially yield higher returns.
Based on market returns between 2010 and 2023, using the MSCI World Index as a proxy for global stocks and the S&P/TSX Composite Index to represent Canadian stocks, the level of risk (as represented by standard deviation) faced by investors with a traditional 60/40 stock-bond portfolio fell as investors increased their allocation to foreign stocks.
Conversely, annualized total returns for those who allocated 30% of their portfolios to foreign stocks during this period were higher (>1%) than those who didn't allocate to foreign stocks at all. While past performance doesn't guarantee future results, it's difficult to disagree that the data tells a compelling story.
Investing in global equities can be a useful way to mitigate home bias, complement domestic allocations, and potentially yield higher returns.
Complement your domestic allocation by reducing portfolio risk
More resources for your practice
Why invest in Manulife Global Equity Class?
Tap into overseas markets, broaden your investment universe, and uncover pockets of opportunity worldwide with Manulife Global Equity Class.
Build portfolio resilience with global equities—a blueprint
Prepare, don't predict: Focusing on what we can control is a more sensible way to deal with uncertainty than relying on guesswork. The fund's investment process is designed with that in mind.
Manulife Global Equity Class—fund profile
The fund's profile has everything you want to know about the fund. Learn about the fund's goals and philosophy and see how it's different from its competitors.
Learn more about Mawer Investment Management
Mawer has been helping investors navigate financial markets since 1974. The firm describes its approach to investing as being boring—but we think consistent might be more accurate.
Manulife Smart Core Bond ETF | BSKT ★★★★
Just because Canadian bond indexes own thousands of bonds doesn’t mean you need to. Owning more of the right bonds—not all of them—offers better yield and return potential. That’s why we combine an active and systematic approach, grounded in research and focused on efficient execution. That’s smart.
Learn more
Performance
| YTD | 1 year |
3 year |
Since inception |
|
|---|---|---|---|---|
Manulife Smart Core Bond ETF (BSKT) |
1.17% | 7.46% | 1.62% | -0.03% |
| Canadian fixed income category | 1.09% | 6.79% | 0.82% | — |
Percentage of peers beaten |
71% | 82% | 88% | — |
A powerful combination—active and systematic portfolio management
Systematic bond screening
- Optimize sector weights and yield curve positoning
- Match volatility and duration of marketing index
- Preserve diversification and liquidity
Active screening and security selection
- Maximize yield
- Maintain index risk profile
- Minimize transaction costs
Morningstar RatingTM
|
Overall |
3 y |
5 y | 10 y |
Rating |
★★★★ |
★★★★ |
— | — |
Number of funds in the category |
— |
493 | 445 | 290 |
Source: Morningstar Direct, as of January 31, 2025
Staying on the sidelines isn't always a good idea
Canadian bonds have typically outperformed GICs
Since the creation of the FTSE Canada Universe Bond Index, Canadian bonds have outperformed guaranteed investment certificates (GICs) nearly 73% and 90% of the time on a one- and three-year rolling basis, repsectively.³ When investors compare GICs with bonds, they typically only look at the GIC rate on offer and current bond yields. While this may be a useful way to gauge the amount of income that investors can expect from these instruments in the short term, it ignores one material aspect: the potential for bond prices to appreciate. GICs, understandably, aren't priced or traded, and, as such, can't appreciate in price.
It's also important to note that the inverse correlation between bonds and interest rates that had been a headwind to bond returns over the past couple of years can soon morph into a tailwind moving forward. Measures of inflation that we follow indicate that inflation has peaked, and the Bank of Canada may begin easing rates soon. When that happens, bond prices are likely to rise even as GIC rates head in the opposite direction.
That said, GICs can have a place in certain investor portfolios; however, historical data shows that they haven't always been a meaningful driver of investment return.
3 Bloomberg, as of October 31, 2023.
Relative outperformance of 3-year annualized returns of FTSE Canada Universe Bond Index vs. Bank of Canada 3-year GIC rates
Canadian Bonds vs GICs
The rise in interest rates has tempted some investors away from bonds and into GICs, but investors risk missing out on a rare opportunity in bond markets. With the percentage of discount bonds more than doubling in Canada and the United States in the last year, we believe that active bond funds have a lot more upside to offer.
Manulife Core Plus Bond Fund ★★★★
Demand for high-quality corporate and government fixed income in Canada continues to grow, especially as Canada was the first G7 country to cut interest rates. As the transition out of cash-like investments progresses, consider an active strategy that emphasizes sector allocation, credit quality, active security selection, and yield-curve management.
Performance
| 1 year | 3 year |
5 year | 10 year | 15 year |
Since inception |
|
|---|---|---|---|---|---|---|
Manulife Core Plus Bond Fund - Series F (MMF620) |
7.39% | 1.34% | 1.16% | 1.80% | 2.85% | 3.43% |
| Canadian fixed income category | 6.79% | 0.82% | 0.33% | 1.27% | 2.44% | |
| Morningstar Ratingᵀᴹ | — | ★★★★ | ★★★★ | ★★★★ | — | — |
Percentage of peers beaten |
80% | 82% | 90% | 87% | 76% | — |
| Number of funds in the category | 527 | 493 | 445 | 290 | 133 | — |
Manulife Strategic Income Fund ★★★
Global growth is moderating and inflationary pressures appear to be cooling. We could finally be on the cusp of a global monetary easing cycle. As rates fall, cash may no longer be king. Fixed-income assets have historically done well in such an environment. Might now be the time to take another look at your portfolio and tap into opportunities in global fixed income?
Performance
| 1 year | 3 year | 5 year | 10 year | 15 year | Since inception | |
|---|---|---|---|---|---|---|
| Manulife Strategic Income Fund - Series F (MMF659) | 4.97% | 1.18% | 1.37% | 2.36% | 4.37% | 5.16% |
| Multi-sector fixed income fund category | 6.36% | 1.74% | 1.50% | 2.30% | 3.64% | — |
| Morningstar Ratingᵀᴹ | — | ★★★ | ★★★ | ★★★ | — | — |
| Percentage of peers beaten | 36% | 47% | 48% | 59% | 70% | — |
| Number of funds in the category | 280 | 265 | 236 | 86 | 19 | — |
More resources for your practice
Bonds vs GICs
Investors typically view bonds as a way to mitigate stock sell-offs; however, the traditional correlation between stocks and bonds broke down in recent years. Our capital markets strategy team examines if that's weakened fixed income's appeal relative to GICs amid higher rates and rising uncertainty.
Investing happily ever after: lessons from fairy tales
Fairy tales often shed light on human behavior and offer lessons for those of us who are keen to learn―including investors. In fact, the more we study the investment landscape, the more we’re reminded of fairy tales.
The dividends of policy divergence
The global interest-rate easing cycle is under way. We explore what that means for investors taking a global view on fixed-income opportunities while putting credit and currency risk in perspective.
Global reach, infinite possibilities
The argument for expanding your investment horizon has rarely been stronger. Discover why now might be an opportune moment to tap into global yield opportunities.
Understanding the value of advice
Try as we may, it’s hard to put a value on compassion, integrity, and a willingness to listen. These are qualities that define good advisors—those who understand the full picture do that. Although it isn’t always possible to put a value on everything, we know through research that investors who receive professional financial advice accumulate nearly four times more assets than those who don’t.⁴ To help your clients understand the true value of advice, share our "Advice matters" brochure.
Download your copy
4 The Gamma Factor and the Value of Financial Advice, 2019.
Advisor stories
Life happens—sometimes unpredictably. See how these advisors came through for their clients when life events occurred.
The farm
See how one advisor helped a family for generations to come.
Watch now Download transcript (PDF)
The baby
For one advisor, his clients’ desire to grow their family brought new challenges.
Watch now Download transcript (PDF)The father
An advisor goes above and beyond to help her client’s family during a difficult time.
Watch now Download transcript (PDF)Get in touch
Ready to share the full picture with your clients?
Book a meeting with a member of the Manulife Investment Management sales team.
* indicates a required field
Thank you for contacting
Manulife Investment Management.
We'll be in touch shortly.
Important disclosures
Investing involves risks, including the potential loss of principal. Financial markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. The information provided does not take into account the suitability, investment objectives, financial situation, or particular needs of any specific person. Past performance does not guarantee future results, and you should not rely on it as the basis for making an investment decision.
All overviews and commentary are intended to be general in nature and for current interest. While helpful, these overviews are no substitute for professional tax, investment, or legal advice. Clients and prospects should seek professional advice for their particular situation. Neither Manulife Investment Management nor any of our affiliates or representatives (collectively Manulife Investment Management) is providing tax, investment or legal advice.
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
LSEG Lipper Fund Awards, © 2024 LSEG. All rights reserved. Used under license.
The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed.
Manulife Fundamental Equity Fund - series FT6 was awarded the 2024 LSEG Lipper Fund Award in the Canadian focused equity category for the 10 year period and calculation periods are through the end of July 2024. The corresponding Lipper Leader ratings of the fund as of January 31, 2025 are as follows: N/A (1 year), 4 (3 years) [536 funds], 5 (5 years) [512 funds], 5 (10 years) [370 funds].
Manulife Fundamental Balanced Class - series FT6 was awarded the 2024 LSEG Lipper Fund Award in the Canadian equity balanced category for the 10 year period and calculation periods are through the end of July 2024. The corresponding Lipper Leader ratings of the fund as of January 31, 2025 are as follows: N/A (1 year), 5 (3 years) [322 funds], 5 (5 years) [291 funds], 5 (10 years) [211 funds].
Manulife Tactical Income Fund - series F was awarded the 2024 LSEG Lipper Fund Award in the tactical balanced category for the 3 year period and calculation periods are through the end of July 2024. The corresponding Lipper Leader ratings of the fund as of January 31, 2025 are as follows: N/A (1 year), 5 (3 years) [313 funds], 5 (5 years) [292 funds], 5 (10 years) [169 funds].
Manulife Multifactor Developed International Index ETF - Hedged Units (MINT) was awarded the 2024 LSEG Lipper ETF Award in the international equity category for the 5 year period and calculation periods are through the end of July 2024. The corresponding Lipper Leader ratings of the fund as of January 31, 2025 are as follows: N/A (1 year), 5 (3 years) [681 funds], 5 (5 years) [611 funds].
Manulife Smart Core Bond ETF (BSKT) was awarded the 2024 LSEG Lipper Fund Awards Canada ETF Group Award for Best Group Over Past Three Years, Bond. Performance for the fund for the period ended January 31, 2025, is as follows: 7.46% (1 year), 1.62% (3 years), and -0.03% (since inception in November 20, 2020).
Manulife Smart Short-Term Bond ETF (TERM) was awarded the 2024 LSEG Lipper Fund Awards Canada ETF Group Award for Best Group Over Past Three Years, Bond. Performance for the fund for the period ended January 31, 2025, is as follows: 8.16% (1 year), 3.75% (3 years), and 2.35% (since inception in November 20, 2020).
Manulife Smart Corporate Bond ETF (CBND) was awarded the 2024 LSEG Lipper Fund Awards Canada ETF Group Award for Best Group Over Past Three Years, Bond. Performance for the fund for the period ended January 31, 2025, is as follows: 8.76% (1 year), 2.98% (3 years), and 1.57% (since inception in November 20, 2020).
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all dividends/distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated
Series F is generally designed for investors who have a fee-based or wrap account with their dealer. Series F performance is net of fees and expenses. Advisor Series is also available and includes a 1.00% trailing commission.
© 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
The Morningstar Rating, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Calculations are based on the funds in each Morningstar category to better measure fund manager skill. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the top 22.5% receiving 4 stars; a fund in the middle 35% receiving 3 stars; a fund in the next 22.5% receiving 2 stars and a fund in the bottom 10% receiving 1 star. The Overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. Overall ratings are adjusted where a fund has less than 5 or 10 years of history. Please refer to www.morningstar.ca for greater detail on the calculation of the Star Ratings.