HONG KONG – Manulife Investment Management today announced the rebrand of its wholly-owned fund management company in China to Manulife Fund Management Co. Ltd. (Chinese name: 宏利基金管理有限公司). The alignment of the brand name with its global entities reinforces Manulife’s commitment to bringing world-class wealth and asset management capabilities to investors in China, providing them with customized investment solutions that meet their long-term financial goals.
The rebrand follows the approval from the China Securities Regulatory Commission (CSRC) in November 2022 for Manulife Investment Management to become the first foreign wealth and asset manager to convert its joint venture into a 100%-owned fund management company in China. The new brand name became effective following the completion of registration with the relevant authorities in China.
Paul Lorentz, President and CEO, Manulife Investment Management said, “The launch of the Manulife Fund Management brand in China marks an important milestone for us in one of the fastest growing wealth and asset management markets in the world. The brand name reflects our philosophy of providing our China team with the strength of our global network, while empowering local leadership and talent to run the business with the full support of our global network. Since the regulator’s approval last November, our China fund management unit has seen multiple appointments of key talent – from leadership to functional teams – all from within China. We believe that combining the best local talent with our global best practices, investment and research capabilities further strengthens our position as we strive to provide the best investment solutions to meet the needs of investors in China.”
Under the leadership of Xu Jin, Chairwoman, Wealth and Asset Management China, Manulife Investment Management and Chairwoman, Manulife Fund Management, several key appointments have been made for the fund management company, including General Manager and Chief Technology Officer, Head of Asset Allocation, and Head of Equity. Additional appointments will be announced in the coming few months.
Michael Dommermuth, Head of Wealth and Asset Management, Asia, Manulife Investment Management said, “One of the many things that our 125-year-long experience in Asia has taught us is the importance of trusting and empowering local talent. They truly live and breathe the local market. In fact, our China leadership planning started way before the fund management company’s ownership change. An icon of the China asset management industry, Madam Jin came onboard prior to the full ownership approval. As Chairwoman of both our overall wealth and asset management business in China and our fund management company, she has been instrumental in the formation of our new senior management team. The appeal of a wholly-owned and fully operating foreign asset manager in China backed by the vast scale of our global business has been tremendously helpful for our recruitment thus far.”
Xu Jin, Chairwoman, Wealth and Asset Management China, Manulife Investment Management and Chairwoman, Manulife Fund Management, said, “Building on Manulife’s extensive experience in China, its global scale and strong local insights, Manulife Fund Management is an asset management company with active fund management capabilities worldwide across fixed income, equity, and asset allocation strategies, including private markets. Our mission is to help investors in China achieve their investment objectives, while creating value for society.”
In addition to adding key talent and establishing global leverage, another focus for Manulife Fund Management is to better serve the needs of the private pension market.
Dommermuth added, “With a declining but fast aging population, bridging the retirement funding gap has become increasingly challenging. Drawing from Manulife’s global experience in retirement solutions and our leadership position in key markets around the world, we have an opportunity to help tackle the issue of this retirement funding gap in China through introduction of pension solutions, global best practices, and investor education. Looking ahead, China’s private pension sector will be an important focus for our fund management business.”
Manulife Fund Management was one of the first six asset management firms approved by the CSRC to sell fund-of-funds products in the country. In 2017, Manulife Investment Management launched its Wholly Foreign-Owned Enterprise in Shanghai, aimed at bringing its global public and private assets solutions and co-investment opportunities to the China market.