Boston - Manulife Asset Management said that it was awarded a US$140 million mandate for its global multi-sector Strategic Fixed Income strategy by the Kentucky Retirement Systems. The $14.9 billion retirement system, based in Frankfort, KY, announced the decision in August of 2011. Funding was completed in November.
The mandate will be managed by Manulife Asset Management’s Global Multi-Sector team, led by Daniel S. Janis III and Thomas Goggins.
“We are honored to be selected by Kentucky Retirement Systems and are committed to providing superior investment management and client service to this important account,” said J-F Courville, President and Chief Executive Officer of Manulife Asset Management. He added: "Recently we have gained a good deal of momentum in the public pension marketplace, particularly with our Strategic Fixed Income strategy, and we congratulate our Global Multi-Sector team on their successes.”
“Plan sponsors have responded positively to our approach to global multi-sector fixed income. In our experience, 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," said Mr. Courville.
As previously announced, in August of 2011, the Teachers’ Retirement System of the State of Illinois awarded Manulife Asset Management with a US$371 million mandate and in April of 2011, as previously announced, the Public Employees Retirement Association of New Mexico awarded Manulife Asset Management a US$250 million mandate. Both mandates are managed by the Global Multi-Sector team.
About Manulife Asset Management
Manulife Asset Management™ is the global asset management arm of Manulife Financial. Manulife Asset Management provides comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. Manulife Asset Management also provides investment management services to affiliates’ retail clients through product offerings of Manulife and John Hancock. This investment expertise extends across a full range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies.
Manulife Asset Management has offices with full investment capabilities in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines. In addition, it has a joint venture asset management business in China, Manulife TEDA. It also has operations in Australia, New Zealand, Brazil and Uruguay. John Hancock Asset Management, Hancock Natural Resource Group and Declaration Management and Research are units of Manulife Asset Management.
As at December 31, 2011, assets under management were Cdn$211 billion (US$208 billion). Additional information about Manulife Asset Management can be found at www.manulifeam.com.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most 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 Financial and its subsidiaries were C$500 billion (US$491 billion) as at December 31, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.