Manulife Asset Management is rolling out its plan to bring its funds to institutional clients in Chile as it looks to expand its Latin American footprint.
At the end of last year, Manulife signed a distribution agreement with Banchile Administradora General de Fondos to target Chilean clients.
The duo has now started marketing the funds after landing eight Luxembourg Ucits from the Manulife Global Fund range on the list of vehicles Chile’s six pension funds can invest in.
Diana Stockwell, Manulife’s head of Latin American sales and relationship management, told Citywire Americas that Manulife is also looking to introduce its funds to Mexico, Peru and Colombia in the next couple years. The firm already has a local presence in Brazil, she said.
‘Our overall engagement strategy is...to be able to provide solutions that the institutional clients in each country need and not a pushing one fund or one product throughout the region,’ Costa Rica-based Stockwell said.
In the case of Chile, Stockwell said Manulife has seen interest in its US large cap strategy, the American Growth Fund managed by Emory W. Sanders, Jr. Besides that vehicle, the seven other funds approved for investment by the country’s six pension funds are:
- Asian Equity Fund, managed by Kenglin Tan
- Asian Small Cap Equity Fund, run by Linda Csellak
- Dragon Growth Fund, managed by + rated Kai Kong Chay
- Global Equity Fund, run by Katherine Kung
- Healthcare Fund, managed by Mindy Perry
- India Equity Fund, run by A-rated Marco Giubin
- U.S. Bond Fund, managed by + rated Howard Greene
Toronto-based Manulife Asset Management ran $370 billion in assets as of June 30, according to a recent press release.
This year Chilean AFPs have so far favored European equities, pouring a net $2.7 billion into that asset class, according to data from the regulator. Asian stock funds have received inflows of roughly $2 billion since January, and Latin American equities close to $1.1 billion.