Manulife Asset Management announced today that it has been awarded a new fixed income mandate from a U.S. public fund and also given additional funding from an existing U.S. public pension fund client.
The North Dakota State Investment Board, headquartered in Bismarck, approved a strategic allocation from its Permanent Fund, to be funded over time and managed by Manulife Asset Management’s Securitized Assets team in its Total Return Bond Strategy.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The Springfield-based Teachers’ Retirement System of the State of Illinois significantly increased its allocation to the firm’s Strategic Fixed Income Strategy, with an additional award of more than $200 million, which is managed by the firm’s Global Multi-Sector team.
"We are honored to be selected by the North Dakota State Investment Board and to have received additional funding from Illinois Teachers. We are committed to providing superior investment management and client service to these important accounts," said Christopher Conkey, Global Chief Investment Officer. "Recently we have gained a good deal of momentum with our Strategic Fixed Income and Securitized Assets Strategies, as clients have increasingly sought creative investment solutions within the fixed income space."
Portfolio managers Bond Griffin, Peter Farley and Jeff Given of Manulife Asset Management’s Securitized Assets team are managing the North Dakota assignment. The investment strategy for the Permanent Fund consists primarily of senior securitized assets of moderate duration across the residential and commercial mortgage areas.
Over the past five years, the Securitized Assets team has managed four other strategies for North Dakota’s Pension Fund ranging from distressed mortgages to high quality CMBS. The North Dakota Permanent Fund was created in 2010 to hold and invest tax revenue from oil and gas production in the state. The Securitized Assets team manages US$5.4 billion in assets.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe additional funding from Illinois Teachers’ represents a follow-on investment into their Strategic Fixed Income portfolio which is managed by Daniel S. Janis III, Thomas Goggins and Kisoo Park of Manulife Asset Management’s Global Multi-Sector team.
The Strategic Fixed Income Strategy’s investment team believes that by expanding the investment universe to include multiple sectors and currencies, it can increase the potential to add value through income generation and capital appreciation while at the same time, seeking to reduce volatility-related risk. The team manages US$15 billion in assets globally.
