<p>【新加坡】宏利投资于周二（3 月 3 日）宣布推出一项新的以新加坡为重点的股票和收入增长策略，属于新加坡金融管理局（MAS）的股票市场发展计划（EQDP）。</p>
<p>宏利表示，新加坡机会收入策略与 EQDP 更广泛的市场建设努力相一致，旨在捕捉随着 MAS 的增强措施加强整体生态系统而出现的机会，“特别是在那些仍然缺乏研究的市场领域”。</p>
<p>该新策略将专门投资于新加坡上市的股票和与股票相关的证券，涵盖各类市值，特别强调小型和中型公司。宏利指出，该细分市场的 “覆盖率较低和持续的估值低效” 创造了一个 “引人注目的机会集”。</p>
<p>它补充道，该策略旨在通过积极的股票选择实现 “平衡的收入和增长结果”。</p>
<p>“收入主要通过股息产生，并辅以在股票接近公允价值时的有纪律的获利了结，同时保留对长期增长机会的敞口，” 这家财富和资产管理公司表示。</p>
<p>“该投资组合并非单纯作为股息策略构建，而是旨在平衡收入稳定性与资本增值，使投资者能够受益于因企业重组、资本管理举措和市场改革而产生的估值重估，” 它补充道。</p>
<p>股票选择将由 “自下而上、基于基本面的投资框架” 驱动。宏利表示，这将涉及评估公司的增长前景、现金流生成、管理质量和估值，并 “强烈强调识别潜在重估的明确催化剂”。</p>
<p>该策略 “通常持有 30 到 50 个高信念头寸”；这些头寸将构成一个严格遵循 “风险纪律、流动性意识和多样化” 的投资组合。</p>
<p>尽管投资组合将以富时新加坡全股指数为基准，宏利表示，投资组合构建将保持 “以信念为导向而非复制指数”，因此资本可以动态分配到错误定价的领域。</p>
<p>宏利新加坡股票部门负责人陈福辉指出，该公司继续 “看到小型和中型公司中的估值差距，研究覆盖有限，变革的催化剂日益明显”。</p>
<p>新加坡机会收入策略的推出恰逢当地市场表现强劲。宏利指出，过去一年当地股票回报近 36%，超过区域同行。股息收益率也约为 4.8%，使这个城市国家在亚洲和主要发达市场中名列前茅。</p>
<p>与此同时，宏利表示，新加坡作为金融和财富中心的 “吸引力持续增强”，并补充说，这 “得益于强劲的宏观经济基本面，包括持续的人均（国内生产总值）增长、强劲的外国直接投资流入和可观的国家储备”。</p>

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SPDR® 新加坡STI指数ETF

富时新加坡海峡时报指数

<p>宏利投资在新加坡推出了一项新的股票收入和增长策略，属于新加坡金融管理局的股票市场发展计划。新加坡机会收入策略专注于投资于新加坡上市股票，特别是小型和中型公司，旨在通过股息产生收入与资本增值之间取得平衡。该策略将持有 30 到 50 个高信念的投资组合，旨在利用市场中的估值低效。这一推出恰逢当地市场表现强劲，过去一年当地股票回报近 36%</p>

<p>[SINGAPORE] Manulife Investments on Tuesday (Mar 3) announced the launch of a new Singapore-focused equity and income growth strategy under the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP).</p>
<div class="lb-trans"><p>【新加坡】宏利投资于周二（3 月 3 日）宣布推出一项新的以新加坡为重点的股票和收入增长策略，属于新加坡金融管理局（MAS）的股票市场发展计划（EQDP）。</p>
</div><p>Manulife said the Singapore Opportunities Income Strategy aligns with EQDP’s broader market-building efforts, and is aimed at capturing the opportunities emerging as MAS’ enhancements strengthen the overall ecosystem, “particularly in areas of the market that remain under-researched”.</p>
<div class="lb-trans"><p>宏利表示，新加坡机会收入策略与 EQDP 更广泛的市场建设努力相一致，旨在捕捉随着 MAS 的增强措施加强整体生态系统而出现的机会，“特别是在那些仍然缺乏研究的市场领域”。</p>
</div><p>The new strategy will exclusively invest in Singapore-listed equities and equity-related securities across market capitalisations, with a particular emphasis on small and mid-cap companies. Manulife noted that “lower coverage and persistent valuation inefficiencies” in this segment create a “compelling opportunity set”.</p>
<div class="lb-trans"><p>该新策略将专门投资于新加坡上市的股票和与股票相关的证券，涵盖各类市值，特别强调小型和中型公司。宏利指出，该细分市场的 “覆盖率较低和持续的估值低效” 创造了一个 “引人注目的机会集”。</p>
</div><p>It added that the strategy is aimed at delivering a “balanced income and growth outcome through active stock selection”.</p>
<div class="lb-trans"><p>它补充道，该策略旨在通过积极的股票选择实现 “平衡的收入和增长结果”。</p>
</div><p>“Income is generated primarily through dividends, complemented by disciplined profit-taking as stocks approach fair value, while retaining exposure to longer-term growth opportunities,” said the wealth and asset manager.</p>
<div class="lb-trans"><p>“收入主要通过股息产生，并辅以在股票接近公允价值时的有纪律的获利了结，同时保留对长期增长机会的敞口，” 这家财富和资产管理公司表示。</p>
</div><p>“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 reratings arising from corporate restructuring, capital management initiatives and market reforms,” it added.</p>
<div class="lb-trans"><p>“该投资组合并非单纯作为股息策略构建，而是旨在平衡收入稳定性与资本增值，使投资者能够受益于因企业重组、资本管理举措和市场改革而产生的估值重估，” 它补充道。</p>
</div><p>Stock selection will be driven by a “bottom-up, fundamentals-based investment framework”. Manulife said this will involve assessing companies across growth prospects, cash-flow generation, management quality and valuation, with a “strong emphasis on identifying clear catalysts for potential rerating”.</p>
<div class="lb-trans"><p>股票选择将由 “自下而上、基于基本面的投资框架” 驱动。宏利表示，这将涉及评估公司的增长前景、现金流生成、管理质量和估值，并 “强烈强调识别潜在重估的明确催化剂”。</p>
</div><p>The strategy will “typically hold 30 to 50 high-conviction positions”; these positions will comprise a portfolio built with strict “risk discipline, liquidity awareness and diversification”.</p>
<div class="lb-trans"><p>该策略 “通常持有 30 到 50 个高信念头寸”；这些头寸将构成一个严格遵循 “风险纪律、流动性意识和多样化” 的投资组合。</p>
</div><p>Although the portfolio will be benchmarked to the FTSE ST All-Share Index, Manulife said that portfolio construction will remain “conviction-led rather than index-replicated”, so capital can be allocated dynamically to areas of mispricing.</p>
<div class="lb-trans"><p>尽管投资组合将以富时新加坡全股指数为基准，宏利表示，投资组合构建将保持 “以信念为导向而非复制指数”，因此资本可以动态分配到错误定价的领域。</p>
</div><p>Chan Hock Fai, head of equities for Singapore at Manulife, noted that the firm continues “to see valuation gaps in small and mid-cap companies, where research coverage is limited, and catalysts for change are increasingly evident”.</p>
<div class="lb-trans"><p>宏利新加坡股票部门负责人陈福辉指出，该公司继续 “看到小型和中型公司中的估值差距，研究覆盖有限，变革的催化剂日益明显”。</p>
</div><p>The Singapore Opportunities Income Strategy’s launch comes against a backdrop of strong local market performance. Manulife noted that local equities returned nearly 36 per cent in the past year, outperforming regional peers. Dividend yields also stand at about 4.8 per cent, placing the city-state among the highest in Asia and major developed markets.</p>
<div class="lb-trans"><p>新加坡机会收入策略的推出恰逢当地市场表现强劲。宏利指出，过去一年当地股票回报近 36%，超过区域同行。股息收益率也约为 4.8%，使这个城市国家在亚洲和主要发达市场中名列前茅。</p>
</div><p>At the same time, Singapore’s “appeal as a financial and wealth hub continues to strengthen”, Manulife said, adding that this is “supported by resilient macroeconomic fundamentals, including sustained per-capita (gross domestic product) growth, robust foreign direct investment flows and sizeable national reserves”.</p>
<div class="lb-trans"><p>与此同时，宏利表示，新加坡作为金融和财富中心的 “吸引力持续增强”，并补充说，这 “得益于强劲的宏观经济基本面，包括持续的人均（国内生产总值）增长、强劲的外国直接投资流入和可观的国家储备”。</p>
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宏利在 EQDP 框架下推出新的股权收益与增长策略