Manulife Asset Management has won a more than C$8bn mandate to manage assets in four fixed income solutions offered by MD Financial Management, a Canadian Medical Association (CMA) owned wealth management organization.
The mandate includes four fixed income solutions namely MD Short Term Bond Fund, MD Bond Fund, MDPIM Canadian Long Term Bond Pool, and MDPIM Canadian Bond Pool.
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The investment management mandate will be granted to Manulife’s Canadian fixed income team and the Global multi-sector fixed income team, headed by Terry Carr and Daniel S. Janis III respectively.
MD CIO William Horton said: "Using MD Precision, our patent-pending proprietary fund management process, Manulife Asset Management demonstrated that their investment strategies can help our clients meet their long-term investment goals."
Manulife Asset Management president and CEO as well as global head of wealth and asset management for Manulife Kai Sotorp said: "We are extremely proud that MD, an existing client, chose to extend our relationship with this fixed income mandate."
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