Manulife centralizes Asian investment in Hong Kong

Manulife Funds Direct has taken over a HK$12 billion portfolio from its London office. The first test, says CEO Ron Otsuki, is for all the funds to outperform the average on the Watson Wyatt survey.

Q Why set up an Asian investment office in Hong Kong

A Our stand-alone Asian portfolio used to be managed out of London. But we're in the process of transferring from London more than HK$12 billion $1.54 billion worth of assets that are predominantly from the insurance operations. Hong Kong is the fastest growing division of our company. With the coming MPF Mandatory Provident Fund market, there is a greater need for us to get closer to our customers and the markets that we invest in. This office will oversee the asset management of the insurance businesses in Hong Kong, China, Taiwan, Indonesia, Singapore, Vietnam and the Philippines. The main reason for us...

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