asia investment management - cuhk · history of development establishing control & building...
TRANSCRIPT
October 2012
Asia Investment Management
Manulife Asset Management A Truly Global Asset Management Firm
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Manulife Asset Management (MAM)
Manulife Asset Management ® is the asset management division of Manulife Financial.
We manage balance sheet money for Manulife's insurance business,institutional assets on behalf of pension plans, endowment funds, and financial services companies.
We also manage retail funds through Manulife Financial and John Hancock distribution networks as well as for other financial institutions offering mutual funds, separately managed accounts and closed-end funds.
More than 300 investment professionals worldwide
Asia public markets-focused, long-only asset manager 11 investment operations, 10 countries, 9 asset management companies
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What We Manage
Asset Mgmt.30%
Gen Acc't70%
General AccountAsset Management Business
Partner with Affiliated Wealth Businesses
Pursue Unaffiliated Sources of Growth
Accountable for Asia General Account Assets
Produce Returns Supportive of Products
Manage Investment and ALM Risks
General Account Reporting
Assets Under Management
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Global Expertise
A global asset manager, backed by a leader in
financial services, Manulife Financial
Corporation.
Our Value Proposition in Asia
Information Advantage
Our strategies benefit from the real-time information, market and policy insight that only a local presence in
these markets can provide
Extensive Asian footprint
Established teams at the heart of 10 markets in Asia. Interconnected teams feeding local
market expertise into regional and global
strategies
We believe that domestic managers in emerging markets generate superior returns with less volatility than offshore managers.
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Asi
a A
UM
(USD
mil)
History of DevelopmentEstablishing control & building
regional hub oversightDeveloping a 3P franchise,
upgrading talent & infrastructure
Vietnam(06/2005)
Thailand(10/2006)
Taiwan(10/2008)
Japan integrated
into Manulife AM (Asia)
M-TEDA(03/2010)
Singapore(06/2008)
Malaysia(09/2008)
1897: Manulife HK est.2000: MAM HK est.
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Overview of Manulife AM Asia – Q3 2005 vs. Q3 2012
1.7 times36.1%21.5%Third Party share of Total AUM
3 times93No. of Asset Management Companies
MAM Asia Total 2005 Q3 YTD Actual
2012 Q3 YTD Actual 7-year CAGR
Revenue Total (USD mil) 15.5 93.2 29.2%
General Accounts 8.6 36.6 23.0%
Third Party Funds a 6.9 56.6 35.1%
Ending AUM b Total – Asia-sourced (USD mil) 15,831 59,008 c 20.7%
General Accounts 12,427 37,716 17.2%
Third Party Funds a 3,404 21,292 c 29.9%
No. of Countries with assets over USD 1bil 2 out of 10 8 out of 10 4 times
Share of Manulife Global FUM 4.0% 11.5% 2.9 times
Headcount (FTE) d 88 286 18.3%
Significant growth
Note a: Includes Manulife TEDA’s revenue at 49%, AUM at 100%.Note b: AUM represents MAM-managed portions.Note c: Includes Japan Pension mandate US$ 4.85 bn, which was funded on Oct 1st 2012. Note d: Headcount excludes China MSL’s and Manulife TEDA’s.
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Asia Total AUM Growth – Q3 2005 vs. Q3 2012
n/a
2006
2005
n/a
2008
1996
1998
2007
1996
2004
1996
--
Year of Establishment
AMCOAUM (in USD mil) AUM
Sept 2005AUM
Sept 20127-yearCAGR
MAM Asia Total 15,831 59,008 20.7%
Hong Kong 7,870 27,088 19.3%
Japan 5,753 14,631 14.3%
Indonesia 798 3,721 24.6%
Singapore n/a 3,072 n/a
Taiwan 191 1,883 38.7%
China (MSL) 223 1,557 32.0%
Malaysia 499 1,086 11.7%
Philippines 305 1,382 24.1%
Vietnam 124 330 15.0%
Thailand 68 136 10.4%
Manulife TEDA * n/a 4,122 n/a
Significant growth
Note *: MTEDA has only been acquired as a 49% JV since Mar 2010 and its AUM is shown at 100%.
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Our Growing Investment Business
US$110B in AUM for external clients
US$54B in asset allocation services
Broad spectrum of investment management services:
Equities Fixed Income Asset Allocation Real Estate Oil & Gas Agriculture and Timber
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CANADA55 Investment Professionals
U.K.9 Investment Professionals
U.S.A.115 Investment Professionals
JAPAN12 Investment Professionals
HONG KONG & ASIA104 Investment Professionals*
More than 300 Investment Professionals; Offices in 17 countries and territories
U n i t e d S t a t e s C a n a d a B r a z i l U r u g u a y U n i t e d K i n g d o m H o n g K o n g C h i n a T h a i l a n d V i e t n a m I n d o n e s i a M a l a y s i a P h i l i p p i n e s S i n g a p o r e T a i w a n A u s t r a l i a N e w Z e a l a n d J a p a n
SOUTH AMERICA2 Investment Professionals AUSTRALIA & NEW ZEALAND
4 Investment Professionals
Source: Manulife AM. as at August 31, 2011.* Total is comprised of investment professionals of Manulife Asset Management (Asia) and of Manulife TEDA. Based in
China, Manulife TEDA Fund Management Co. Ltd, is a joint venture between Manulife Financial and Northern International Trust, part of the Tianjin TEDA Investment Holding Co. Ltd.
Our Global Footprint
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Toronto, Boston, London, Tokyo, Hong Kong and throughout Asia More than 150 equity managers/analysts
More than 80 fixed income managers/analysts
Our brands around the world:
Portfolio Managers, Analysts and Traders around the world provide a global perspective on companies, industries and securities
Strong & Diversified Businesses -Global Asset Management
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Manulife Asset Management’s global goal is to grow to over $250 billion in AUM for institutional clients within the next 5 years. Asia’s contribution to this growth is to increase AUM from $9 to $34 billion in third party assets.
MAM (Asia)MAM (Asia)’’s Core Strategys Core Strategy
Asia Equities
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Asia Equity Capabilities
* Manulife TEDA Fund Management Company Limited is a joint venture between Manulife Financial and Northern International Trust, part of Tianjin TEDA Investment Holding Co., Ltd (TEDA).
Asia Pacific Equities
Hong Kong Asian Equities Asian Small Cap
EquitiesHong Kong
China EquitiesGreater China
EquitiesChina domestic
equities (A-shares)
Indonesia Moderate Strategy
Aggressive Strategy Passive Strategy
ShariahCompliant Strategy
Manulife Indonesia -
China
Singapore Singapore Core Equity
Singapore Small/Mid Cap
Singapore Equity Institutional
Mandate
ChinaM-TEDA*
China Sector Select
China Efficiency Discovery
China Quality Life and
Dividend Income
China Leadership Enterprise
China Growth China Stable China Cyclical
TaiwanTaiwan
Institutional Mandate
Taiwan Dividend Equity
Taiwan Growth Equity (2)
China Growth Fund
Philippines Philippines Core Equity (ILP) (2)
MalaysiaMalaysia Equity
Institutional Mandate (3)
VietnamVietnam
Progressive Core Equity
Thailand Thai Core Long Term Equity
Thai Equity Value
Thai Equity Dividend Thai Core Equity
Japan Japan Equity GARP
Japan Equity Quant Value
Asia Fixed Income
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Asia Fixed Income Capabilities
* Manulife TEDA Fund Management Company Limited is a joint venture between Manulife Financial and Northern International Trust, part of Tianjin TEDA Investment Holding Co., Ltd (TEDA).
Hong KongHong Kong short
term, medium term, and long term
bonds
Hong Kong Interest, Conservative Asia Total Return QFII Bond
Institutional mandates
(HKD and CNH)
Japan Japanese Fixed Income Core Active
Japanese Fixed Income Passive
IndonesiaINR denominated
short/medium/long duration bonds
US Dollar denominated
medium & long duration bonds
ShariahConservative &
aggressive money market
Institutional mandates
Singapore SGD bond SGD money market
ChinaM-TEDA*
On-shore total return bond Jili Bond On-shore money
market
TWD money marketTaiwanNT Dollar
denominated Asia Pacific bond
Emerging market high yield bond
Global fund of bonds
China CNH high yield bond
Philippines PHP bond US Dollar bond PHP money market bond
Malaysia Malaysian bond Income Principal protected
Vietnam Vietnamese Dong denominated bond Money market
Thailand THB denominated money market
Key Developments
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Key Developments in 2010/2011
Completed joint venture acquisition of highly-regarded asset management company in Beijing, China – Manulife TEDA Fund Management Co Ltd. Manulife Asset Management successfully fulfils US$200m QFII quota
Company wins China-A share mandate from Air Canada and signs new distribution agreements in Asia Manulife Asset Management Singapore launches Manulife Global
Contrarian Fund and Manulife Strategic Income Fund: These are the first global funds to be launched by Manulife Asset Management in Singapore, joining 5 other domestic and Greater China funds already available to local investors. Manulife Asset Management Japan wins Yen bond mandate from Daiwa
Asset Management Co. Ltd. Manulife Asset Management awarded Hong Kong Hospital Authority
Provident Fund Scheme’s first ever Dim Sum bond mandate Manulife Asset Management (Taiwan) taps Hong Kong’s CNH Market with
Taiwan’s first ever Dim Sum Bond Fund
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Recognition in the Media
Fixed Income Portfolio Manager discusses Asian currencies, while promoting fund launch in Singapore on Channel News Asia
Greater China Portfolio Manager discusses current outlook on China on Bloomberg
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Most Astute Investors in Local Currency Bonds – 2007, 2008, 2009, 2010 and 2011Triple A 2011 Investment Awards: Linda Csellak as Fund Manager of the Year(Long-haul - Asia Pacific region)
Recognition for Excellence in Asia
Manulife Global Fund – Japanese Growth Fund – Recognized by Lipper as the best 10-year fund for Japan Equity 2009
Manulife China Opportunities Class A –Recognized by Lipper as the best 1-year fund for Greater China Equity 2009
Leadership in Fund Management 2008 – MFC GIM (Asia)1
Most Innovative Product (Vietnam) 2008 – Manulife Vietnam Progressive FundRegional CEO of the Year 2009 – Michael Dommermuth, MFC GIM (Asia)1
Most Innovative Product (Taiwan) 2009 – Manulife Asia Pacific Bond FundGlobal Equity Performance Award, 3 and 5 years – Manulife Global Opportunities Strategy (Global Contrarian strategy in Asia)
Manulife Asset Management Indonesia –Winners of 1-year equity fund award and 1-year balanced fund awards at Investor Magazine’s Best Mutual Funds 2010 awards
Manulife Global Select MPF International Bond – Recognized by Lipper as the best 3-year and 5-year MPF for Global Bond 2010
1MFC Global Investment Management’ changed its brand name to ‘Manulife Asset Management’ in December 2010
Manulife Global Select MPF European Equities – Recognized by Lipper for best 3-year performance in European Equities 2011
Manulife Global Select MPF International Bond Fund – Recognized by Lipper for best 3-year and 5-year MPF Global Bond 2011
Manulife Global Fund – US Special Opportunities Fund– Recognized by TFF-Bloomberg for best 3-year fund in the High Yield Bond Fund category 2011
Best Onshore Fund House for Indonesia – 2009US Small Cap strategy –Performance Award 2010US Fixed Income, Core –Performance Award 2011US Equity, Large Cap –Performance Award 2011
Breeding Talent Investment Trainee Rotation Program
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This 24-month program is designed to develop highly motivated individuals with a strong interest in financial services and investment management.
Through assigned three to six-month rotations, candidates have the opportunity to gain valuable experience in five functional areas:
Mentored by a Senior Executive
Working with a variety of assignment managers, these rotations are intended to:
Maximize the opportunity to acquire technical knowledge
Gain an appreciation of the diversity of the asset origination and asset management businesses within the context of a large global financial services firm
Investment Trainee Rotation Program
2424monthsmonths
Performance Performance Measurement & Measurement &
AttributionAttribution
Portfolio Portfolio ManagementManagement::
EquitiesEquities
Portfolio Portfolio ManagementManagement::Fixed IncomeFixed Income
Asia Pacific Asia Pacific Investment Investment
TeamsTeamsProduct Product
DevelopmentDevelopment
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Career Path Investment Professionals
Investment Investment Trainee Trainee Rotation Rotation ProgramProgram
Investment Investment AnalystAnalyst
Junior Junior Portfolio Portfolio ManagerManager
Portfolio Portfolio ManagerManager
Team HeadTeam Head
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How to apply
When?Closing Date for Application – December 18, 2012
Who?Human Resources [email protected] specify “Application for Investment Trainee Rotation Program”
What?To learn more about us, please visitwww.manulifeam.com
Thank-you