TORONTO and BOSTON, Dec. 22,
2014 /PRNewswire/ -- As 2014 draws to a close, Manulife
Asset Management, the investment management arm of Manulife, is
experiencing another strong year featuring global sales and asset
growth, expanded investment capabilities and thought leadership.
Year-to-date direct institutional gross sales reached C$5.9 billion, as of September 30, 2014.* Long-term investment
performance continued to be a differentiator for the firm, with the
significant majority of public asset classes again outperforming
their benchmarks on a 1, 3, and 5-year basis.**
"The year saw several important milestones for our firm, as we
furthered our growth as a premier asset manager by leveraging our
strong brand, investment management performance, expanded
operations, and global client base," said Warren A. Thomson, Chairman.
"With C$309 billion in assets
under management, including a record C$266
billion managed for external clients,* Manulife Asset
Management is wrapping up another exceptional year," said Kai R.
Sotorp, President and CEO, who in July was appointed to lead the
firm. "We look forward to winning new business in 2015, confident
in our investment teams' performance, and with enthusiasm to serve
the needs of our many clients globally."
New institutional sales in 2014 included:
- U.S. Large Cap Core Strategy mandates with new clients in the
U.S., China, Germany and South
Korea
- Global Equity Strategy mandates in the UK and Japan
- Asia Small Cap Equity Strategy mandates in Canada
- First institutional Asia Equity offshore separate account
mandate in Malaysia
- Strategic Fixed Income Strategy mandates with new clients in
the U.S., Canada and Japan
- Canadian Long Duration and Core
Plus fixed income mandates in Canada
- Total Return Bond Strategy mandates in the U.S.
Asia net sales from
institutional and sub-advisory clients globally, including large
sovereign wealth funds, exceeded $2
billion.*
Indeed, in May 2014, the firm's
asset growth was recognized by Pensions & Investments.
Manulife Asset Management was ranked among the world's largest
money managers, moving into the 30th spot for 2014 from
34th in 2013, based on institutional assets under management
worldwide, as of December 31,
2013.
Private Markets
Manulife Asset Management
Private Markets launched last year, extending its investment
expertise to institutional investors in several private asset
classes including: commercial real estate, commercial mortgages,
private debt, timberland and farmland, biomass renewable energy,
oil and gas, and mezzanine debt.
New institutional sales in 2014 include:
- U.S. commercial real estate mandate with a large European
insurance company to co-invest up to $1
billion
- $200 million forestry joint
venture with MASISA closed in Chile
- $100 million private commercial
mortgages mandate on behalf of an institutional investor
- Launch of a Canadian private debt fund
- Multiple Canadian real estate mandates for Manulife Canadian
Property Portfolio, bringing assets under management to
$885 million
"We've had a tremendous year of growth, leveraging our
longstanding experience in private markets to work with investors
to provide unique opportunities to meet their investment goals,"
said Kevin Adolphe, President &
CEO of Manulife Asset Management Private Markets. "We look forward
to continuing to build on our momentum through new long term
partnerships in 2015."
Agreement to acquire Canadian operations of Standard Life
plc
In the third quarter, Manulife announced that it had
entered into agreement to acquire the Canadian operations of
Standard Life plc. The acquisition is expected to broaden the range
of asset management products and solutions available in
Canada and around the globe.
Subject to receipt of all necessary approvals, the transaction is
anticipated to close Q1 2015.
Expanded Investment Resources
The firm
announced it will be adding a new Global Emerging Markets Equity
portfolio management team. Kathryn
Langridge and Philip Ehrmann
will join the organization, effective December 31, 2014 and January 8, 2015, respectively. Ms.
Langridge will be Senior Managing Director, Senior Portfolio
Manager, and Head of Global Emerging Markets Equity. Mr. Ehrmann
will be Senior Managing Director and Senior Portfolio Manager,
supporting Ms. Langridge. Following FCA regulatory approval, they
will manage a global emerging markets equity strategy for
institutional clients and certain wealth management businesses of
Manulife and John Hancock.
In October, the firm announced the appointment of Megan E. Greene as Managing Director and Chief
Economist, responsible for forecasting global macro-economic and
financial trends and analyzing the potential opportunities and
impacts to support the firm's investment teams around the world.
She is part of the Portfolio Solutions Group (PSG), which
specializes in global asset allocation portfolio management.
PSG also expanded its capabilities geographically with the
August addition of Peter Warnes as
Head of Portfolio Solutions Group, International, to help meet the
growing demand for asset allocation solutions outside of
North America. Based in
Hong Kong, Mr. Warnes leads a team
of four asset allocation professionals in Asia managing more than US$5.9 billion* in assets for institutional and
retail clients.
Manulife Asset Management added to its global investment
capabilities in June by naming Craig
Bethune, CFA, and Diana M.
Racanelli, CFA, as Portfolio Managers on a new Global
Natural Resources Equity team. They co-lead the team and report to
Christopher Conkey, Global Chief
Investment Officer, Manulife Asset Management.
Global Thought Leadership
Accessible at www.ManulifeAM.com, Manulife Asset Management's
thought leadership program continued to provide insights on global
opportunities throughout 2014:
- The first research report in the Investment Insight series,
entitled "Omnichannel: A reason for investors to re-think retail?"
examines the emergence of onmichannel retailing, which allows
customers to buy retail goods online, by visiting a store, or by
various combinations of physical and virtual shopping.
- The paper "Emerging Markets — Refocusing on Reform" encourages
investors in emerging economies to look for new signs of structural
reform in 2015 after a recent surge in election activity. A fresh
focus on reform could lead to new investment opportunities in the
credit and sovereign debt markets of countries like Brazil, India, Indonesia, and Turkey.
- The interactive Inflation Guide features animated videos
summarizing forecast inflation in major markets around the world,
and explains why inflation matters to companies and investors.
- The publications "Abenomics: Implications for interest rate
strategy" and "Abenomics: Implications for credit strategy"
continued a series of research reports designed to help investors
navigate Japan's fixed income
market under Japanese Prime Minister Shinzo
Abe's unprecedented economic stimulus policy.
- The continued opening of China's onshore bond market, Asia's largest and most rapidly growing
(ex-Japan), remained in focus with
the publication of "China's shadow
banking system: Orderly defaults ahead," "The Great Upgrade: Fixed
income opportunities as China
approaches the Lewis Turning Point" and "Chinese bonds: From
passive to active investment."
- The Aging Asia series took a fresh look at the social and
economic implications of Asia's
rapidly aging demographics with the publication of report entitled
"Live long and prosper? Retirement and longevity risk" and two
commentaries that highlight the role of elderly labor force
participation in retirement income security and the surprising
finding that the level of consumption generally does not fall for
retired individuals.
Target De-Risking Funds
Manulife Asset
Management was awarded a patent in May of 2014 from the United
States Patent and Trademark Office, for the investment process
underlying the firm's Target De-Risking Funds and for the funds
themselves. Target De-Risking Funds are a suite of portfolios
geared toward small defined-benefit pension plans (those with fewer
than $100 million in assets),
offering an attractive solution for de-risking plan liabilities by
helping plans close the gap between future obligations and present
funding levels. PSG developed the Target De-Risking Funds
solution in conjunction with Manulife's Group Retirement Solutions
business unit in Canada.
*All figures Canadian dollars, as of September 30, 2014 unless otherwise noted.
** Past performance does not guarantee future results.
About Manulife Asset Management
Manulife Asset
Management is the global asset management arm of Manulife,
providing comprehensive asset management solutions for
institutional investors and investment funds in key markets around
the world. This investment expertise extends across a broad range
of public and private asset classes, as well as asset allocation
solutions. As at September 30, 2014,
assets under management for Manulife Asset Management were
approximately C$309 billion
(US$276 billion).
Manulife Asset Management's public markets units have investment
expertise across a broad range of asset classes including public
equity and fixed income, and asset allocation strategies.
Offices with full investment capabilities are located in
the United States, Canada, the United
Kingdom, Japan,
Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia, and the
Philippines. In addition, Manulife Asset Management has a
joint venture asset management business in China, Manulife TEDA. The public markets units
of Manulife Asset Management also provide investment management
services to affiliates' retail clients through product offerings of
Manulife and John Hancock. John
Hancock Asset Management and Declaration Management and Research
are units of Manulife Asset Management.
Additional information about Manulife Asset Management may be
found at ManulifeAM.com.
About Manulife Asset Management Private
Markets
Manulife Asset Management Private Markets has
investment expertise in several private asset classes, including
commercial real estate, timberland and farmland, renewable energy,
oil and gas, private equity and mezzanine debt. Manulife Asset
Management Private Markets also partners with Manulife's
specialized private asset investment teams to invest in private
placement debt and commercial mortgages. Hancock Natural Resource
Group, Manulife Real Estate, John Hancock Real Estate, NAL
Resources, Regional Power, Manulife Capital, and Hancock Capital
Management are units of Manulife Asset Management Private Markets.
As at September 30, 2014, Manulife's
assets under management in private asset classes were C$79 billion (US$70
billion), including assets managed by and for Manulife's
general fund and external clients. Additional information may be
found at ManulifeAM.com/PrivateMarkets.
About Manulife
Manulife is a leading Canada-based financial services group with
principal operations in Asia,
Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in
other parts of the world. We provide strong, reliable, trustworthy
and forward-thinking solutions for our customers' significant
financial decisions. Our international network of employees, agents
and distribution partners offers financial protection and wealth
management products and services to millions of clients. We also
provide asset management services to institutional customers. Funds
under management by Manulife and its subsidiaries were
approximately C$663 billion
(US$591 billion) as at September 30, 2014.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE
and PSE, and under '945' on the SEHK. Manulife can be found on the
Internet at manulife.com.
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SOURCE Manulife Asset Management