Manulife Financial, a Canada-based financial services provider, has reported wealth sales of C$13.8bn for the fourth quarter of 2014, an increase of 6% compared with the year ago quarter.
The firm’s Asian division reported wealth sales of US$2.5bn for the quarter, 64% higher than the year ago period.
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While, the US division posted wealth sales of US$7.1bn consistent with the prior year quarter and Canada division posted C$2.9bn in wealth sales.
The company’s assets under management stood at C$691bn, an increase of C$92.2bn compared with the same quarter the previous year.
According to Manulife, premiums and deposits for wealth products were C$18.9bn, an increase of 15% on a constant currency basis, compared with the year ago quarter.
Overall, the group’s net income declined to C$640m during the fourth quarter from C$1.3bn a year ago.
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By GlobalDataManulife Financial president and CEO Donald Guloien said: "In 2014, we delivered strong growth in both net income and core earnings, announced two important acquisitions, and increased our dividend 19%. It was a very strong year."
