STOCKS | Manulife Withdraws Leverage Feature From Insurance Product for Hong Kong Wealthy Clients

Manulife (0945) has withdrawn the leverage feature from an insurance product offered to wealthy clients in Hong Kong after drawing attention from regulators and competitors. According to Ming Pao, Bloomberg reported the product allowed eligible clients to buy a policy with a face value of $80 million using leverage of nearly four times, and offered a return of more than 10%.