Download MANULIFE HIGH YIELD BOND FUND

FIXED INCOME
MANULIFE HIGH YIELD BOND FUND
As at June 30, 2017
Advisor Series
The Fund seeks to generate a high level of income with the potential for capital appreciation by investing primarily in higher yielding, lower
quality fixed income securities, leveraged loans, preferred shares and convertible securities issued by corporations, governments and other
issuers located around the world.
PERFORMANCE
HOW THE FUND IS INVESTED
As at May 31, 2017
Top holdings
%
Modular Space Corp
1.8
13,000
Williams Partners LP 4.875% 15-Mar2024
1.6
12,000
ING Groep NV PERP
1.3
11,000
Wells Fargo & Co PERP
1.3
10,000
MDC Partners Inc 6.500% 01-May2024
1.1
Frontier Communications Corp
7.125% 15-Jan-2023
1.1
Sprint Communications Inc FRN 02Feb-2024
1.0
Standard Industries Inc 5.375% 15Nov-2024
1.0
NRG Yield Oper 5.375% 15-Aug2024
1.0
Sirius XM Radio Inc 6.000% 15-Jul2024
1.0
Growth of $10,000 since inception
±
15,000
$14,774
14,000
($)
9,000
Aug 11
Aug 12
Aug 13
Aug 14
Aug 15
Aug 16
Annual compound returns (%)
1 mo. 3 mo. 6 mo.
-0.32
Fund
1.10
YTD
1 yr.
3 yr.
5 yr.
3.48
10.55
2.73
6.04
3.48
Since
10 yr. inception
–
6.88
Calendar year returns for the Fund (%)
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
12.40
-4.46
3.52
8.94
14.50
–
–
–
–
–
Total
12.2
FUND DETAILS
Inception date: August 19, 2011
Risk profile: Low to Medium
AUM: $157.6 million
NAV: $10.75
Lead manager: Dennis McCaffterty
MER (audited): 2.09%
Co-manager: John Addeo
Management fee: 1.70%
Sub-advisor: Manulife Asset Management
(US) LLC
Min. investment: $500 initial; $25 PAC
CIFSC category: High Yield Fixed Income
Distribution frequency: Monthly
Distribution yield: 0.04%≠
Positions: 202
Credit allocation (%)
„„ 90.6 Corporate Notes/Bonds
„„ 3.8 Fixed Income Other
„„ 5.6 Other
¤
Fund codes (MMF)
Series
Advisor
T
F
FT
FE
4525
1522
–
–
LL
4725
1322
–
–
DSC
4425
1222
–
–
Other
–
–
4625
1022
Also available in Dollar-cost averaging fund
code.
Geographic allocation (%)
„„ 76.6 United States
„„ 5.3 Canada
„„ 5.0 Luxembourg
„„ 1.7 France
„„ 1.3 United Kingdom
„„ 1.3 Netherlands
„„ 1.3 Bermuda
„„ 0.6 Ireland
„„ 0.4 Jersey
„„ 6.5 Other
Source for all data: Lipper, a Thomson Reuters company, as at June 30, 2017. ±For illustration purposes only. ≠Distribution yield is calculated based on prior 12-month rolling average of paid distributions
and using average month-end net asset value, per security. The distribution yield does not include any year-end capital gains distributions paid in addition to the regular monthly distributions. Distribution
yield should not be confused with a fund’s performance or rate of return. ¤As of December 30, 2016 (includes HST).
INVESTMENT PHILOSOPHY
The High Yield Fixed Income portfolio management team believes that there are pockets of value in the fixed income market. Through a
fundamental research-driven process concentrated on security selection they seek to invest in undervalued companies with sustainable
business models. Another outcome of their research allows them to identify the most attractive part of the capital structure, from bank
loans, through senior and subordinated debt, to convertible securities.
INVESTMENT PROCESS
Idea generation
Sector analysis
Ideas come from multiple „„Assess relative outlook
for various corporate
sources:
bond sectors
„„Portfolio managers and
analysts
„„Index review
„„New issuance
„„Sell side
Issuer due diligence
„„Identify securities with
attractive risk-return
profiles
„„Thorough
documentation review
and fundamental
analysis
Relative value analysis
Risk management
„„Cross-issuer risk-return „„Monitor relative value
review
between similar issues
„„Timely review of
earnings statements
FOR MORE INFORMATION, PLEASE CONTACT YOUR ADVISOR OR VISIT MANULIFEMUTUALFUNDS.CA
Manulife Funds are managed by Manulife Investments, a division of Manulife Asset Management Limited. Commissions, trailing commissions, management fees and expenses all may be associated with
mutual fund investments. Please read the fund facts as well as the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit
value and reinvestment of all 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. The rate of return shown is used only to illustrate the effects of the compound growth rate
and is not intended to reflect future values or returns on investment. The payment of distributions is not guaranteed and may fluctuate. If distributions paid by the fund are greater than the performance of
the fund, then your original investment will shrink. Distributions should not be confused with a fund’s performance, rate of return, or yield. You may also receive return of capital distributions from a fund.
Please consult with your tax advisor regarding the tax implications of receiving distributions. See the prospectus for more information on a fund’s distributions policy. Manulife, Manulife Investments, the
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