Best execution policy

Potential conflicts of interest

Manulife IM has an obligation to manage conflicts of interest between its clients and between the Firm and/or employees and its clients. This means the Firm requires all employees to act in the best interests and for the benefit of its clients. The Firm is committed to avoiding either perceived, potential or actual conflicts of interest. Where a conflict cannot be avoided, the Firm will ensure that such conflicts are dealt with and managed appropriately. The Firm takes all reasonable steps to avoid situations where its interests and client interests’ conflict and institute reasonably designed operational safeguards to protect client interests with respect to its brokerage practices. Such operational safeguards include:

Act with undivided loyalty in accordance with local regulations;

Deal fairly and act in the best interest of the client when obtaining soft dollar services and products, where permissible;

Resolving trade errors timely and expeditiously and, if applicable, bear the cost of correcting any error caused by the Firm’s failure to place trades correctly;

Have an adequate and fair basis for approving counterparties for execution in the exclusive interest of clients;

Make full and fair disclosure of its brokerage practices, including communicating material changes to such practices, that could reasonably be expected to impair the Firm’s independence and objectivity or interfere with its respective duties to the clients and prospective clients; and

Review and assess regularly whether its trading operations or circumstances may present potential conflicts of interest and ensure that any conflicts of interest that may be perceived as material are appropriately disclosed in a timely manner.

The Firm must execute transactions for clients such that the client’s total costs or proceeds are the most favorable under the circumstances of the trade within the context of the marketplace. Each trade is customized to the objectives of the portfolio manager, to achieve best execution and benefit the client. There is no standard method to employ for each trade in striving to achieve best execution. A trader will take multiple variables into consideration when executing a trade. The Firm must consider the full range of a counterparty’s services, execution skills and inventory, and in placing brokerage consider the following:

Price

Size of the order

Trading characteristics of the security involved

Availability of accurate information affecting choices of the most favorable market in which to seek execution.

Availability of technological aids

Cost and difficulty associated with achieving an execution in a named market exchange

Value of research (where allowable)

Commission rate

Financial stability

Market dynamics including liquidity, volatility

Trading capabilities of that counterparty;

Macro-economic factors

A portfolio manager’s objectives, which may also include client mandates

The Firm considers several criteria to determine the relative importance of the execution factors listed above:

the characteristics of the client;

the characteristics of the client order;

the characteristics of the financial instrument; and;

the characteristics of the execution venues to which that order can be directed.

The best execution standards require Manulife IM to implement systems, processes, execution arrangements and a governance framework that is reasonable designed in seeking best execution. As part of this framework, best execution is monitored and action taken to remedy sub-optimal execution outcomes. The Firm shall also monitor for broad based market developments and technological advances as a means of assessing the overall adequacy of the best execution program.

Client guidelines/restricted accounts

Where a client provides us with a specific instruction in relation to an entire order, or any particular aspect of an order, including selecting to execute on a particular venue or through a restricted broker list, we will execute that order in accordance with those instructions. In following client instructions, we will be deemed to have taken all sufficient steps to provide the best possible result in respect of the aspects of the order covered by the instructions. In some circumstances, such orders may be traded after unrestricted client orders.

Directed brokerage arrangements

Some of our clients may not be able to trade with certain counterparties. This will be because certain counterparties are prohibited in their investment management agreement or for some other legal or operational reason that prevents the client from trading with the counterparty. As a result of such restrictions when applicable, Manulife’s efforts to achieve best execution may be diminished.

Depending on the size and purpose of the restricted order, that order may have to be traded after unrestricted client accounts.

¹ Includes placing orders with or transmitting orders to other entities to execute

Disclaimer (Singapore Investors)

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This website is operated by Manulife Investment Management (Singapore) Pte. Ltd. ("Manulife Singapore"), which is an entity regulated by Monetary Authority of Singapore. Manulife Singapore is a member of the Investment Management Association of Singapore (IMAS), and a fund management company included under the Central Provident Fund Investment Scheme (CPFIS).

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Manulife Singapore may from time to time without giving any reason or prior notice, upgrade, modify, alter, suspend, discontinue the provision of or remove, whether in whole or in part, this website and shall not be liable if any such upgrade, modification, suspension or alteration to the website prevents you from accessing the website or any part or feature thereof. The information and/or any other material contained in the website may be modified, deleted or replaced from time to time and at any time in the absolute discretion of Manulife Singapore. Any changes, modifications, or additions to, or deletions from these Terms or Global Terms shall be effective upon posting on this website. If you access this website, including the country-specific sections, after changes are posted to the Terms or Global Terms, you further acknowledge the Terms or Global Terms as changed and agree to be bound by them.

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Manulife, or any of their respective directors, officers, employees or agents shall not be liable for any and all losses, injury (including special, indirect and consequential losses), damages, rights, claims and actions of any kind resulting from accessing or downloading any materials from the website of Manulife Singapore or any third party, including without limitation, personal injuries, death and property damage.

Except as specifically set forth herein or where the law requires a different standard, we shall not be responsible for any loss, damage or injury or for any direct, indirect, special, incidental, exemplary, or consequential damages, including lost profits, arising from or related to the system, equipment, browser and/or the installation or maintenance thereof, access to or use of the website, failure of electronic or mechanical equipment, the internet, the system, or communication lines, telephone or other interconnect problems, bugs, errors, configuration problems or incompatibility of computer hardware, software, the internet, or the system, failure or unavailability of internet access, problems with internet service providers, problems or delays with intermediate computer or communications networks or facilities, problems with data transmission facilities or any other problems you experience due to causes beyond our control.

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copy, reproduce, modify, sell, republish, post, transmit, or distribute in any way material from this website without the express, written permission of Manulife;
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use or reproduce the pages, text, images, or other content from this website for any purpose other than browsing or printing for personal, non-commercial use only;
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insert a hyperlink to this website (or any part thereof) on any other website or webpage or "mirror" any material contained on this website on any other server or establish and/or maintain, on any website or webpage, any in-links, frame-links and/or any other type of hyperlinks to this website or any part thereof.

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Computer Equipment, Browser Access and Internet Services

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Hyperlinks

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No other website, without the prior written permission of Manulife Singapore, is authorized to link to any part of this website.

Investments

The contents on this website are for information only and without consideration given to the specific investment objective, financial situation and particular needs of any particular person and Manulife does not make any representation that the securities, investment products or services referred to, discussed on, or accessible through, this website are suitable for any particular investor. You should consider whether the security, investment product or service in question is suitable for you and may wish to seek professional advice before making a commitment to invest in any such security, investment product or to engage such service.

The contents on this website is not and should not be construed as being an offer to sell or a solicitation of an offer to buy any security or investment product that may be referred to, discussed on, or accessible through this website. Nor does this website constitute an offering or recommendation by Manulife of any security, investment product, investment management service, or advisory service. Manulife does not provide and should not be construed as providing investment advice, tax advice, or legal advice through this website, and you agree that this website will not be used by you for such purposes. You acknowledge that any requests that may be made by you for information on any security, investment product or service are unsolicited, and the provision of any information through this website shall not constitute or be considered investment advice, or an offer to sell, or a solicitation of an offer to buy any security, investment product or service.

Any forecasts or opinions set out on this website are Manulife's own as at the date of the relevant document and may change without notice and should not be regarded as a guarantee or indication of future or likely performance of the subject matter in question. Whilst Manulife believes that the information provided on this website is correct at the date of production, no warranty or representation is given to this effect and Manulife expressly disclaims liability for errors or omissions in such information. No reliance may be placed for any purpose on the information and opinions provided on this website or the accuracy or completeness thereof and no responsibility can be accepted by Manulife to anyone for any action taken on the basis of such information or opinions.

An offer of units in any fund referenced in this website may only be made in or accompanied by a prospectus and/or relevant offering document(s) in respect of such offer. The information and materials set out in this website is not to be taken as a substitute for the prospectus and/or offering document(s) of the relevant fund, as applicable, and you are advised to read the relevant documents (which are available and may be obtained from Manulife Singapore or any of its authorised distributors]) before applying for units in any fund.

Investments in any fund are not deposits in, guaranteed or insured by Manulife. The value of units in any fund and the income accruing to the units, if any, may fall or rise. Past performance is not necessarily indicative of future performance. You should be aware that investment in any fund involves financial risk and you may not get back the principal amount invested. Depending on your currency of reference, factors including but not limited to currency fluctuations may adversely affect the value of your investments and the income accruing there from.

On this website:

The short name and full name of the following funds are as follows: Asia Pacific Investment Grade Bond Fund = Manulife Asia Pacific Investment Grade Bond Fund; Global Asset Allocation – Growth Fund = Manulife Global Asset Allocation – Growth Fund; SGD Income Fund = Manulife SGD Income Fund; Singapore Bond Fund = Manulife Singapore Bond Fund; Singapore Equity Fund = Manulife Singapore Equity Fund.
The following are sub-funds of Manulife Global Fund:
Asia Dynamic Income Fund, Asia Pacific REIT Fund, Asia Total Return Fund, Asian High Yield Fund, Asian Short Duration Bond Fund, Asian Small Cap Equity Fund, China Total Return Bond Fund, China Value Fund, Dragon Growth Fund, Global Climate Action Fund, Global Equity Fund, Global Multi-Asset Diversified Income Fund, Global REIT Fund, Healthcare Fund, India Equity Fund, Preferred Securities Income Fund, Sustainable Asia Bond Fund, Sustainable Asia Equity Fund, U.S. Bond Fund, U.S. Equity Fund, U.S. Special Opportunities Fund.
The following are sub-funds of Manulife Funds:
Asia Pacific Investment Grade Bond Fund, Global Asset Allocation – Growth Fund, SGD Income Fund, Singapore Bond Fund, Singapore Equity Fund.

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Manulife shall not be under any obligation whatsoever, express or implied, to reply to unsolicited correspondence, communications or email or to acknowledge receipt of the same.

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You agree that all information and/or particulars sent or submitted by you through the website is non-confidential and non-proprietary unless otherwise expressly indicated by you. You acknowledge that Manulife, its directors, officers, employees, contractors and agents shall not be subject to any confidentiality obligations in respect of any such information and/or particulars and you agree that Manulife, its directors, officers, employees, contractors and agents may, and you hereby authorise each of them to, use and to disclose such information to any person (including without limitation any third party service provider) in connection with Manulife's internal business purposes.

Without prejudice to the generality of the foregoing, you consent to the processing by Manulife of the personal data submitted by you through the website and/or created in the course of the business relationship with Manulife, and to the transmission of such personal data to other companies within the Manulife (by the internet or otherwise) for purposes connected with marketing and customer administration. If you do not wish your information to be used in this way, you should advise Manulife in writing.

If you have any questions on our data protection policies and practices, please write to us at our corporate address:

The Data Protection Officer
Manulife Investment Management (Singapore) Pte. Ltd.
8 Cross Street
#16-01 Manulife Tower
Singapore 048424

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any delay, termination, failure, defect, or interruption in the transmission of this website;
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In no event will Manulife or its directors, officers, or employees be liable to you for any direct, indirect, special, consequential, or incidental damages related in any way to your use of this website, even if: (a) such damages are reasonably foreseeable; or (b) Manulife or any other party has been advised of the possibility of such damages.

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Governing Law

These Terms shall be subject to, governed by, and construed in accordance with the laws of Singapore, and you hereby submit to the non-exclusive jurisdiction of the Singapore Courts.