Manulife launches fund for contrarian retail investors

The Manulife Global Contrarian Fund has been launched. This long-only global fund managed from Boston in the US will now be offered to Hong Kong retail investors via local bank branches in minimum subscriptions of HK$20,000. The target size of the fund is $50 million and fees for investors are a 5% sales fee plus an annual management fee of 1.75%. In classic contrarian style, the equity-only fund will be looking to buy stocks that are being sold down, then on the basis of a valuation …