Manulife Asset Management has bolstered its asset allocation investment capability by hiring Peter Warnes as head of Portfolio Solutions Group (PSG), International.
Based in Hong Kong, Warnes will work together with his asset allocation and international sales and relationship management team to meet the increasing demand for asset allocation solutions outside of North America.
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In addition, Warnes will set the strategic direction for continuing this encouraging growth for Manulife Asset Management’s international business.
He will also join the firm’s global asset allocation committee and work with the global PSG team, which includes more than 20 asset allocation professionals and has more than US$119 billion in assets under management.
Warnes joined Manulife from 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 started his career at Sun Alliance Investment Management in London.
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By GlobalDataMichael Dommermuth, president, international asset management, Manulife Asset Management, said: "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.
"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," he added.
