Manulife Asset Management has been awarded a USD371 million mandate for its global multi-sector fixed income strategy from the Teachers’ Retirement System of the State of Illinois.
The USD37.1 billion pension fund, headquartered in Springfield, Illinois, announced the decision in August.
This core plus fixed income mandate will be managed by Manulife Asset Management’s Strategic Fixed Income team, headed by Daniel S. Janis III and Thomas Goggins.
"We are extremely pleased to be chosen as an investment manager by the Illinois Teachers and we congratulate our Strategic Fixed Income Team on being chosen for this important mandate," says J-F Courville (pictured), President and Chief Executive Officer of Manulife Asset Management. He added: "Lately we have been gaining a lot of traction with this strategy. We find that plan sponsors are looking for a compelling complement to core fixed income allocations that offers the potential to add value with a keen focus on risk mitigation."
In April, as previously announced, the Public Employees Retirement Association of New Mexico awarded Manulife Asset Management a USD250 million mandate, also for Strategic Fixed Income.