Unaudited Semi-Annual Report Manulife Global Fund Société d'Investissement à Capital Variable for the six month period ended 31 December 2020 No subscription can be received on the basis of nancial reports. Subscriptions are only valid if made on the bases of the current prospectus, accompanied by the latest annual report and semi-annual report if published thereaer. SICAV R.C.S Luxembourg B 26 141 Contents Directors ..................................................................................................................................................... 1 Management and Administration ............................................................................................................. 2 Directors’ Report ........................................................................................................................................ 4 Statement of Net Assets ........................................................................................................................... 10 Statement of Changes in Net Assets ........................................................................................................ 15 Statement of Operations ........................................................................................................................... 20 Statistical Information ............................................................................................................................... 25 Statement of Changes in Shares .............................................................................................................. 35 Industrial Composition of Portfolios as a Percentage of Net Asset Value .............................................. 55 Portfolio of Investments ............................................................................................................................ 61 ASEAN Equity Fund ..................................................................................................................................... 61 Asia Total Return Fund1 ................................................................................................................................. 63 Asia Pacific REIT Fund .................................................................................................................................. 68 Asia Value Dividend Equity Fund .................................................................................................................. 70 Asian Equity Fund ........................................................................................................................................ 73 Asian High Yield Fund ................................................................................................................................... 76 Asian Small Cap Equity Fund ........................................................................................................................ 79 China Total Return Bond Fund....................................................................................................................... 83 China Value Fund .......................................................................................................................................... 88 Dragon Growth Fund1................................................................................................................................... 91 Dynamic Leaders Fund*............................................................................................................................... 94 Emerging Eastern Europe Fund ................................................................................................................... 97 European Growth Fund ................................................................................................................................ 99 Global Equity Fund ....................................................................................................................................... 102 Global Multi-Asset Diversified Income Fund ................................................................................................ 104 Global REIT Fund .......................................................................................................................................... 122 Global Resources Fund ................................................................................................................................ 126 Healthcare Fund ........................................................................................................................................... 129 India Equity Fund ......................................................................................................................................... 131 Japan Equity Fund ........................................................................................................................................ 133 Latin America Equity Fund ........................................................................................................................... 134 Preferred Securities Income Fund ................................................................................................................ 136 Sustainable Asia Bond Fund*1 ...................................................................................................................... 141 Taiwan Equity Fund ...................................................................................................................................... 147 U.S. Bond Fund ............................................................................................................................................ 149 U.S. Equity Fund .......................................................................................................................................... 169 U.S. Small Cap Equity Fund .......................................................................................................................... 171 U.S. Special Opportunities Fund ................................................................................................................... 174 Notes to the Financial Statements ........................................................................................................... 182 Information for Shareholders .................................................................................................................... 220 Supplementary Information ...................................................................................................................... 221 1 This Unaudited Semi-Annual Report includes inter alia information in relation to those sub-funds as indicated. These Sub-Funds have been registered for distribution with the German Financial Regulator (the BaFin) pursuant to section 310 of the German Capital Investment Code and only shares in those Sub-Funds will be marketed to investors within Germany. * Refer to note 12 Directors DIRECTORS Gianni Fiacco Paul Smith (Chairman) 16th Floor c/o Manulife Investment Management Lee Garden One (Hong Kong) Limited 33 Hysan Avenue 16th Floor Causeway Bay Lee Garden One Hong Kong SAR 33 Hysan Avenue Causeway Bay Hong Kong SAR John Li 19, rue de Bitbourg Christakis Partassides L-1273 Luxembourg 29-31 Kasou Street Grand Duchy of Luxembourg Flat 402 CY-1086 Nicosia Leonardo Zerilli Cyprus 200 Berkeley St Boston MA 02116 Yves Wagner United States of America 19, rue de Bitbourg L-1273 Luxembourg Grand Duchy of Luxembourg 1 MANULIFE GLOBAL FUND Management and Administration Registered Office 31, Z.A. Bourmicht L - 8070 Bertrange Grand Duchy of Luxembourg R.C.S. Luxembourg B26141 MANAGEMENT COMPANY Investment Managers Carne Global Fund Managers Fiera Capital (UK) Limited (Luxembourg) S.A. 3rd Floor, Queensberry House 3, rue Jean Piret 3 Old Burlington Street L-2350 Luxembourg Mayfair Grand Duchy of Luxembourg London W1S 3AE United Kingdom Distributor (Investment Manager of the Emerging Eastern Manulife Investment Management Europe Fund and Latin America Equity Fund) International Holdings Limited The Goddard Building Manulife Investment Management Haggatt Hall (Hong Kong) Limited St. Michael 16th Floor Barbados Lee Garden One 33 Hysan Avenue Depositary, Administrator, Causeway Bay Registrar and Paying Agent Hong Kong SAR Citibank Europe plc, Luxembourg Branch (Investment Manager of the ASEAN Equity Fund, 31, Z.A. Bourmicht Asia Total Return Fund (until 16 December 2020), L -8070 Bertrange Asia Pacific REIT Fund, Asian Equity Fund, Asian High Grand Duchy of Luxembourg Yield Fund (until 16 December 2020), Asian Small Cap Tel: (352) 45 14 14 1 Equity Fund, China Total Return Bond Fund, China Fax: (352) 45 14 14 332 Value Fund, Dragon Growth Fund, India Equity Fund, Japan Equity Fund, Sustainable Asia Bond Fund* Legal Advisers (since 6 August 2020) and Taiwan Equity Fund, and Luxembourg Co-Investment Manager of the Asia Total Return Fund Linklaters LLP and Asian High Yield Fund since 17 December 2020) Avenue J.F. Kennedy 35 L -1855 Luxembourg Manulife Investment Management (Europe) Limited Grand Duchy of Luxembourg 1 London Wall London EC2Y 5EA Hong Kong United Kingdom Dechert (Co-Investment Manager of the Asia Total Return 31st Floor, Jardine House Fund and Asian High Yield Fund since 17 December One Connaught Place 2020) Central Hong Kong SAR T. Rowe Price International Ltd. 60 Queen Victoria Street Hong Kong Distributor London EC4N 4TZ Manulife Investment Management United Kingdom (Hong