Skip to main content

Manulife Global Fund – India Equity Fund

Growth from the world's next factory

Sizeable and sustainable opportunities

Learn more

Long-term growth drivers

Learn more

Fund information

Learn more


Sizeable and sustainable opportunities​



The India story – sizeable and sustainable growth opportunities

As the globalised world is changing, there is renewed opportunity for emerging economies by capitalising on trends like China+1 and friend-shoring. We believe that emerging economies such as India are at the cusp of scalable and sustainable growth, as it has carried out structural reforms over the last 10 years1 to benefit from these trends. 


Long-term growth drivers



Themes expected to drive long-term growth

India is going through a metamorphosis. Novel business models are emerging, and incumbents are getting challenged. We have a 5D classification framework, which help capture the areas we like. 




As the digital economy grew, certain platforms in areas like consumer and financial services have gained scale. 




This refers to the manufacturing opportunities created by import substitution, value addition and exports.




To make its economic growth truly sustainable, the Indian government has pivoted to adding significant capacities in renewable power.




As GDP per capita has inflected above US$2,500 in 2023, we see demand for discretionary and premium goods rising at a much faster pace.



Deficit reduction

As India overall reduces deficit and increases savings, we see investment opportunities in real estate companies as well as in savings institutions and capital market linked businesses like wealth and asset management.


Fund information


  AA AA (SGD Hedged) Inc
Investment objective​ The Fund aims to provide long term capital growth by investing at least 70% of its net assets in equity and equity related securities of companies covering the different sectors of the Indian economy and which are listed on a stock exchange either in India or on any stock exchange. 
Inception date 30 Nov 2006 27 Mar 2020
ISIN code LU0274383263 LU2039709600
Bloomberg ticker MGFINAA LX MINESSH LX
Base currency​ USD
Mode of subscription Cash Cash and SRS
Minimum investment USD 1,000 (or the equivalent in any other major currency)
Distribution frequency​​ N.A.
Management fee 1.50% p.a.
Initial sales charge Up to 5.0%
Dealing frequency Daily
Investment manager / sub-manager Manulife Investment Management (Hong Kong) Limited / Manulife Investment Management (Singapore) Pte. Ltd.
Fund size USD 427.8 million (as of 31 May 2024)

Portfolio managers


Rana Gupta

Senior Portfolio Manager, India Equity Specialist

Based in Singapore, Rana is responsible for the research, analysis and coverage of Indian equities for the India Strategy and regional portfolios. He works closely with the Hong Kong-based investment team and the teams from across Asia to facilitate real-time information flow.

Rana has over 22 years of experience in portfolio management and research for Indian equities. He previously worked at Kotak Securities in India, where he focused on mid-cap research before moving internally as a portfolio manager. He then moved to Fortis Investment Management in Hong Kong, where he managed the India portion of a successful Asia Pacific portfolio. Prior to joining Manulife Investment Management, he worked with Fullerton Fund Management (a member of Temasek Holdings) as a portfolio manager for India equities.

Rana is a Post-graduate in Business Administration (Finance) and a Bachelor of Commerce (Hons) in Accountancy.


Koushik Pal

Director, Indian Equities

Based in Singapore, Koushik is responsible for the research, analysis and coverage of Indian equities for the India Strategy and regional portfolios. He works closely with the Hong Kong-based investment team and teams from across Asia to enhance the Firm’s stock selection capability as well as integration of sustainable investing principles in Indian equities.

Koushik has 19 years of experience in Indian equity research across all sectors. He spent nearly a decade in working as a buy side analyst within Kotak Group's asset management functions in Mumbai. In his latest role, he was with Kotak Mahindra AMC, where he covered the information technology and healthcare sectors. He was a top rated analyst by portfolio managers in four out of five years he was in this role. Prior to this, Koushik specialised in mid and small cap stocks across all sectors with Kotak Securities' Portfolio Management Services.

Koushik is a Post-graduate in Business Administration (Finance) and a Bachelor of Commerce (Hons) in Accountancy.


1. Source: Manulife Investment Management, as of Aug 2023. 


Important Information

Manulife Global Fund (the “Company”) is an open-ended investment company registered in the Grand Duchy of Luxembourg. The Manulife Global Fund – India Equity Fund (the "Fund") is recognised under the Securities and Futures Act of Singapore for retail distribution. The Company has appointed Manulife Investment Management (Singapore) Pte. Ltd. (Company Registration Number: 200709952G) as its Singapore Representative and agent for service of process in Singapore. The information provided herein does not constitute financial advice, an offer or recommendation with respect to the Fund. Opinions, forecasts and estimates on the economy, financial markets or economic trends of the markets mentioned herein are not necessarily indicative of the future or likely performance of the Fund. The Fund may use financial derivative instruments for the purposes of investment, efficient portfolio management and/or hedging.  

Investments in the Fund are not deposits in, guaranteed or insured by the Manager and involve risks. Past performance of the manager or sub-manager is not necessarily indicative of its future performance. The value of units in the Fund and any income accruing to them may fall or rise. Past performance of the Fund is not necessarily indicative of future performance. Investors should read the Singapore prospectus, and seek advice from a financial adviser before deciding whether to purchase units in the Fund. A copy of the Singapore prospectus and the product highlights sheet can be obtained from Manulife or its distributors. In the event an investor chooses not to seek advice from a financial adviser, he should consider whether the Fund is suitable for him. 

Distributions are not guaranteed. Investors should refer to the Singapore prospectus for the distribution policy of the Fund. The Directors of the Company shall have the absolute discretion to determine whether a distribution is to be made in respect of the Fund as well as the rate and frequency of distributions to be made. Distributions may be made out of (a) income, or (b) net realized gains, or (c) capital of the Fund, or (d) gross income while charging all or part of the fees and expenses to capital, or (e) any combination of (a), (b), (c) and/or (d). Past distribution yields and payments are not necessarily indicative of future distribution yields and payments. Any payment of distributions by the Fund is expected to result in an immediate decrease in the net asset value per share of the Fund. 

This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.