Core Viewpoint - DBS has raised the target price for Manulife Financial-S (00945) from HKD 290 to HKD 310 while maintaining a "Buy" rating, indicating confidence in the stock's potential for valuation re-rating [1] Group 1: Financial Performance - Manulife Financial reported better-than-expected performance for Q3 2025, with new business value increasing by 11% year-on-year, and a 7% growth in the Asia region [2] - The growth in new business value is attributed to a shift in the product mix towards high-margin health insurance products, particularly in the Asian and US markets, which has effectively improved profit margins [2] - New business contract service margins saw a significant year-on-year increase of 25%, with a 20% increase in the Asia region, driven by product mix optimization and positive impacts from recent actuarial assessments [2] Group 2: Strategic Initiatives - Manulife's innovation strategy focuses on growth, emphasizing strong growth potential in wealth and asset management businesses in Asia and globally [1] - The company is expanding its operations in Canada and the US to maintain a diversified and balanced global investment portfolio [1] - A joint venture with Mahindra to enter the Indian insurance market is expected to create new growth opportunities, leveraging Mahindra's strong brand and execution track record [2] - The timing of the entry into the Indian market is strategic, given the improving digital infrastructure and favorable regulatory environment for foreign insurance companies [2]

Core Viewpoint - DBS has raised the target price for Manulife Financial (00945) from HKD 290 to HKD 310 while maintaining a "Buy" rating, indicating confidence in the stock's potential for continued valuation re-rating [1] Group 1: Financial Performance - Manulife Financial reported better-than-expected performance in Q3 2025, with new business value increasing by 11% year-on-year, and a 7% growth in the Asia region [2] - The growth is attributed to a shift in the product mix towards higher-margin health insurance products, particularly in the Asian and US markets, which has effectively improved profit margins and driven business growth [2] - New business contract service margins saw a significant year-on-year increase of 25%, with Asia's new business contract service margins also recording a 20% year-on-year growth [2] Group 2: Strategic Initiatives - Manulife's innovation strategy focuses on growth, emphasizing strong growth potential in both Asian and global wealth and asset management businesses [1] - The company is expanding its operations in Canada and the US to maintain a diversified and balanced global investment portfolio [1] - A joint venture with Mahindra to enter the Indian insurance market is expected to add growth opportunities, leveraging Mahindra's strong brand and execution track record [2] - The timing of the entry into the Indian market is strategic, given the improving digital infrastructure and favorable regulatory environment for foreign insurance companies [2]

Core Viewpoint - Manulife Financial's growth-focused innovation strategy emphasizes strong growth potential in its wealth and asset management business in Asia and globally [1] Group 1: Strategic Focus - The company aims to expand its business in Canada and the United States to maintain a diversified and balanced global investment portfolio [1] - Manulife is transitioning to an AI-driven organization with large-scale applications [1] - The company plans to enhance customer health, wealth, and longevity protection through value-added solutions and services [1] Group 2: Financial Outlook - The strategic enhancements are expected to help the company achieve its financial targets for 2027 and strengthen its sustainable long-term growth trajectory [1] - DBS has raised Manulife's target price from HKD 290 to HKD 310 and maintains a "Buy" rating [1]

Core Insights - The article provides a comparative analysis of Manulife Financial, focusing on its growth in Asia and improving earnings mix compared to its closest competitors [1]. Group 1: Company Overview - Manulife Financial is highlighted for its growth potential in the Asian market, which is a significant aspect of its overall strategy [1]. - The company is noted for its improving earnings mix, indicating a shift towards more profitable segments [1]. Group 2: Analyst Perspective - The insights presented in the article are based on the author's independent research and do not reflect any external financial interests [2]. - The article emphasizes that past performance is not indicative of future results, underscoring the importance of careful investment consideration [3].

Core Insights - The article provides a comparative analysis of Manulife Financial, focusing on its growth in Asia and improving earnings mix compared to its closest competitors [1]. Group 1: Company Overview - Manulife Financial is highlighted for its growth potential in the Asian market, which is a significant aspect of its business strategy [1]. - The company is noted for its improving earnings mix, indicating a shift towards more profitable segments [1]. Group 2: Analyst Perspective - The insights presented in the article are based on the author's independent research and do not reflect any financial interests or relationships with the companies mentioned [2]. - The article emphasizes that past performance is not indicative of future results, underscoring the importance of careful investment consideration [3].

Core Viewpoint - The article emphasizes that China's policy support for technology development, innovation, and sustainable growth is unprecedented, which will drive technological advancements and create significant investment opportunities [4]. Group 1: Policy Support and Focus Areas - China is in the early stages of a technological revolution, with substantial achievements in automation and robotics, supported by significant capital and policy backing [4]. - The "14th Five-Year Plan" highlights three key areas of focus: innovation and technology, green energy, and consumption upgrades, which are expected to attract international investment [5]. - The article notes that China is a leader in solar and renewable energy, with impressive infrastructure projects that will receive more attention in the five-year plan [5]. Group 2: Investment Opportunities - There is a renewed interest in Chinese assets from overseas investors, particularly if breakthroughs in technology and innovation occur [6]. - The shift of global capital from the West to the East is noted, with funds flowing from U.S. assets into European and some Asian markets [6]. Group 3: Economic Outlook and Challenges - The article discusses the challenges faced by the Federal Reserve, including the need for careful decision-making amid uncertain economic signals [8]. - Different sectors are evolving at varying paces, with technology and AI continuing to grow rapidly, while housing and labor markets face issues [9]. - The article highlights the potential for a divergence in returns among technology companies, with some likely to benefit significantly from investments in AI while others may not [9].

Core Viewpoint - Manulife Investments announced the final cash distributions for its ETFs and ETF series of mutual funds for December 2025, with payments scheduled for January 15, 2026 [1]. Distribution Details - The cash distribution amounts per unit for various Manulife ETFs are as follows: - Manulife Smart Short-Term Bond ETF (TERM): C$0.025324, Monthly - Manulife Smart Core Bond ETF (BSKT): C$0.022317, Monthly - Manulife Smart Corporate Bond ETF (CBND): C$0.027779, Monthly - Manulife Smart Global Bond ETF (GBND): C$0.022743, Monthly - Manulife Smart Enhanced Yield ETF (CYLD): C$0.160000, Monthly - Manulife Smart U.S. Enhanced Yield ETF – Unhedged (UYLD.B): C$0.160000, Monthly - Manulife Smart U.S. Enhanced Yield ETF – US Dollar (UYLD.U): C$0.160000*, Monthly - Manulife Smart U.S. Enhanced Yield ETF – Hedged (UYLD): C$0.160000, Monthly - Manulife Smart Enhanced Yield Bond ETF– Unhedged (BYLD.B): C$0.116674, Monthly - Manulife Smart Enhanced Yield Bond ETF – Hedged (BYLD): C$0.115931, Monthly - Manulife Global Edge ETF (GEDG): C$0.001234, Quarterly - Manulife Smart Dividend ETF (CDIV): C$0.132244, Quarterly - Manulife Smart U.S. Dividend ETF – Unhedged (UDIV.B): C$0.102016, Quarterly - Manulife Smart U.S. Dividend ETF – Hedged (UDIV): C$0.094651, Quarterly - Manulife Smart U.S. Dividend ETF – US Dollar (UDIV.U): C$0.076214*, Quarterly - Manulife Smart International Dividend ETF – Unhedged (IDIV.B): C$0.111599, Quarterly - Manulife Smart Global Dividend ETF Portfolio (GDIV): C$0.093047, Quarterly - Manulife Smart Defensive Equity ETF (CDEF): C$0.202209, Semi-Annual - Manulife Smart U.S. Defensive Equity ETF – Unhedged (UDEF.B): C$0.078236, Semi-Annual - Manulife Smart U.S. Defensive Equity ETF – Hedged (UDEF): C$0.063902, Semi-Annual - Manulife Smart U.S. Defensive Equity ETF – US Dollar (UDEF.U): C$0.083723*, Semi-Annual - Manulife Smart International Defensive Equity ETF – Unhedged (IDEF.B): C$0.175154, Semi-Annual - Manulife Multifactor Canadian Large Cap Index ETF (MCLC): C$0.500360, Semi-Annual - Manulife Multifactor U.S. Large Cap Index ETF – Unhedged (MULC.B): C$0.347524, Semi-Annual - Manulife Multifactor U.S. Large Cap Index ETF – Hedged (MULC): C$0.266310, Semi-Annual - Manulife Multifactor U.S. Mid Cap Index ETF – Unhedged (MUMC.B): C$0.282933, Semi-Annual - Manulife Multifactor U.S. Mid Cap Index ETF – Hedged (MUMC): C$0.250437, Semi-Annual - Manulife Multifactor Developed International Index ETF – Unhedged (MINT.B): C$0.917531, Semi-Annual - Manulife Multifactor Developed International Index ETF – Hedged (MINT): C$0.742856, Semi-Annual - Manulife Multifactor Canadian SMID Cap Index ETF (MCSM): C$0.426010, Semi-Annual - Manulife Multifactor U.S. Small Cap Index ETF – Unhedged (MUSC.B): C$0.164171, Semi-Annual - Manulife Multifactor U.S. Small Cap Index ETF – Hedged (MUSC): C$0.139439, Semi-Annual - Manulife Multifactor Emerging Markets Index ETF – Unhedged (MEME.B): C$0.415626, Semi-Annual - Manulife Strategic Income Fund – ETF Series (STRT): C$0.030746, Monthly - Manulife Core Plus Bond Fund – ETF Series (MCOR): C$0.032697, Monthly - Manulife Dividend Income Fund – ETF Series (MDIF): C$0.012902, Monthly - Manulife Alternative Opportunities Fund – ETF Series (OPPS): C$0.034416, Monthly - Manulife Strategic Income Plus Fund – ETF Series (PLUS): C$0.039899, Monthly - Manulife Fundamental Equity Fund – ETF Series (MFUN): C$0.025530, Quarterly [1]. Company Overview - Manulife Financial Corporation is a leading international financial services provider, operating globally under the Manulife brand in Canada, Asia, and Europe, and as John Hancock in the United States [6]. - The company provides financial advice, insurance, and investment services to over 36 million customers, supported by more than 37,000 employees and over 109,000 agents [6].

Core Insights - Manulife Financial Corporation (NYSE:MFC) is recognized as one of the 15 Global Dividend Stocks, indicating its potential for portfolio diversification [1] - Morgan Stanley has raised its price target for Manulife to $51 from $50, maintaining an Equal Weight rating, citing supportive macro conditions such as lower interest rates and a stable equity market [2] - The company's shares have increased nearly 20% since the beginning of 2025, reflecting market optimism [3] Financial Performance - Manulife's core earnings from Asia rose 29% to $550 million in Q3 compared to the same period last year, contributing to overall positive results [5] - For the three months ending September 30, Manulife reported core earnings of C$2.04 billion, or C$1.16 per share, up from C$1.83 billion, or C$1.00 per share, a year earlier [5] Strategic Initiatives - The company has adopted a refreshed strategy focused on expanding its market share in Asia during global uncertainty [3] - Manulife has utilized reinsurance deals since 2023 to transfer risk and free up capital, enabling share buybacks and new investments [4] - A key priority for growth includes a joint venture in India with Mahindra and Mahindra, as well as the acquisition of Schroders' business in Indonesia to strengthen its presence in Southeast Asia [4]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] Company Overview: Manulife Financial (MFC) - Manulife Financial currently holds a Momentum Style Score of B, indicating potential as a solid momentum pick [3][12] - The company has a Zacks Rank of 2 (Buy), which is associated with strong historical performance [4] Performance Metrics - Over the past week, MFC shares increased by 1.92%, matching the performance of the Zacks Insurance - Life Insurance industry [6] - In the last month, MFC's price rose by 4.76%, while the industry saw a 6.39% increase [6] - Over the past quarter, MFC shares have risen by 17.84%, and by 19.26% over the last year, significantly outperforming the S&P 500, which increased by 3.01% and 17.28% respectively [7] Trading Volume - MFC's average 20-day trading volume is 2,485,539 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for MFC have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $2.87 to $2.95 [10] - For the next fiscal year, two estimates have also moved upwards without any downward revisions [10]

Distribution Details - M Split Corp. declares a monthly distribution of $0.03125 per share for both Class I and Class II Preferred shareholders, amounting to $0.375 annually for each class [1][3] - Class I Preferred shares have an annual dividend rate of 7.50% based on a $5 notional issue price [1] - Class II Preferred shares also have an annual dividend rate of 7.50% based on a $5 notional issue price, applicable when the NAV exceeds $10.00 [1] - Distributions are payable on January 9, 2026, to shareholders on record as of December 31, 2025 [1][3] Investment Focus - M Split invests in common shares of Manulife Financial Corporation, which is the largest life insurer in Canada and offers financial products and wealth management services [2]