People Moves
Manulife Creates New International Role In Investment Arm
Manulife Asset Management, part of Canada-based Manulife, has appointed Peter Warnes to the newly-created position of head of portfolio solutions group, international. Warnes is based in Hong Kong.
Manulife Asset Management, part of Canada-based Manulife, has appointed Peter Warnes to the newly-created position of head of portfolio solutions group, international. Warnes is based in Hong Kong.
Warnes will work with his asset allocation, international sales and relationship management colleagues to meet the demand for asset allocation solutions outside of North America, Manulife said in a statement.
In addition to portfolio management, Warnes will set the strategic direction for continuing growth encouragement for Manulife Asset Management’s international business, it said.
He previously worked for JP Morgan Asset Management, where he worked in both the Asia and London offices developing and managing global equity and global multi-asset investment portfolios. Prior to this, he worked with Invesco Asset Management after having begun his career at Sun Alliance Investment Management in London.
“Demand for asset allocation investment solutions is growing remarkably across Asia as constituent populations are aging rapidly and responsibility for retirement income security is increasingly shifting from the state to individuals,” said Michael Dommermuth, president of international asset management, Manulife Asset Management.
“Our Ageing Asia series of research suggests that Asian households allocate more than 50 per cent of their financial assets to bank deposits. With bank deposits providing negative real returns across most of the region, many individual investors see the potential for mixed-asset investment solutions to deliver attractive risk-adjusted returns, helping to build retirement savings or providing a recurring income stream to supplement other sources of household income during retirement. On the institutional side, we anticipate considerable demand from institutions looking for tailored asset allocation solutions to support long-term liabilities,” Dommermuth added.
At 30 June, assets under management for Manulife Asset Management were around $281 billion.