Manulife Asset Management has named Endre Pederson as new senior managing director of its Singapore-based Asian fixed income team.
In his new role, Pedersen will oversee the pan-Asian fixed income strategies and will drive the South Asian fixed income capability, which includes 20 investment staff managing about US$7 billion in fixed income assets across six markets.
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At the same time, the firm has also moved Luc Froehlich, senior director, Asian fixed income, from Hong Kong to the Singapore office, according to Investment Adviser.
Jill Smith, head and chief investment officer for Singapore said that the firm is also planning to move its global multi-asset balanced products from its portfolio solutions group to Singapore.
Smith added that the firm is also open to acquisitions in a bid to focus on organic growth.
Pedersen said: "We are trying to continue to build and strengthen our business and strengthen the fixed income presence we have in Singapore, making sure we can actually cater to the clients that we are seeing coming through.
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By GlobalData"The opportunity set is expanding as most governments in the region are now rated investment grade and regional corporations are increasingly turning to bond market as a primarily source of financing," added Pedersen.
