Manulife Asset Management continued to build momentum in its institutional business in the first half of 2014, generating more than USD3.2 billion globally in net new institutional sales.
Assets managed by Manulife Asset Management reached USD281 billion as of 30 June 2014, an increase of USD18 billion from 31 December 2013.
"Our sales so far this year demonstrate success across our US, Canadian and International sales teams, with several of our investment teams winning significant institutional mandates from large public pension plans, sovereign wealth funds, and sub-advisory mandates," says Warren A Thomson, chairman of Manulife Asset Management. "The numbers show our clients are as diverse as the asset management mandates we are undertaking."
New mandates year to date include:
• US large cap core strategy mandates with new clients in the US, China, South Korea and Europe
• Strategic fixed income strategy mandates with new clients in the US, Canada and Japan
• A USD1.3 billion mandate for the global equity strategy by UK-based wealth management firm St. James's Place
• Asia Pacific ex Japan equity mandate with a new client in Malaysia
"Manulife Asset Management has built a strong foundation, leading with investment excellence and developing the sales infrastructure necessary to win new business and strengthen relationships with institutional prospects and consultants," says Kai Sotorp, president and CEO, Manulife Asset Management. "The mid- and long-term performance by our investment professionals continued to be strong. Over the past two quarters, the majority of public asset classes outperformed their benchmarks on a one-, three-, and five-year time frame. Further, on a five-year basis, 70 per cent of our assets outperformed their peers. Our focus remains on continuing to provide solutions to investors and expanding our business in North America, Asia, Europe and the Middle East."