Manulife Asset Management has revealed plans for the expansion of its operations in Europe. The business already has significant scale in North America and in Asia, with global assets under management of EUR285 billion/GBP226 billion (as at 31 March 2016).
Europe (and the wider EMEA market) is a strategically important growth market for Manulife Asset Management, and the business is investing in the region for the long term.
Over the last 18 months, the firm has almost doubled its employee numbers in London, including key hires in both distribution and investment teams. The business currently has almost 40 people based in the UK office and anticipates that number to increase significantly over the next year or so.
Kai Sotorp, Chief Executive Officer, Manulife Asset Management, says: "We are a growing business with exciting investment capabilities across a broad range of traditional asset classes, multi assets and private markets investments. We have been building our European investment teams and client base over the years and we are excited to be able to make further commitments to our clients and this important market."
Claude Chene, Global Head of Distribution, Manulife Asset Management, adds: "I joined Manulife Asset Management because of the exciting array of investment capabilities they have built and the distinctive skills they bring to institutional and wholesale clients. The business recognises that to serve the global investor community, it is critical to have a well-developed and robust European presence to complement its growing North American and Asian businesses. With the resources to continue to make the necessary investments in people and infrastructure and the patience required to build a successful business in Europe, this is a unique opportunity for us."
In support of their European efforts, Manulife Asset Management has established a Dublin-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) fund platform, which has 11 funds currently registered for sale in the UK and Ireland. Some of the strategies represented include Strategic Fixed Income, Global Equities, Emerging Market Equities, Emerging Market Debt, US Large Cap Core Equity, and Asian Bond Absolute Return. The business has commenced passporting its funds into other European countries.
These investment capabilities will be marketed to both institutional and wholesale investors in the region, as appropriate.
In London, the firm has also bolstered its research capabilities, adding analysts to its Emerging Market Debt, Global Fixed Income, and Emerging Market Equity teams. It now has investment professionals covering Global Fixed Income, Emerging Markets Equities, Emerging Market Debt, European and EAFE Equities, and Japanese Equities based in its European headquarters.