Viewpoints
James Robertson highlighted three differentiators that catch the eye of advisors looking to outsource investment decisions.
Asset allocation trends and views
The past few months have seen investors adjust their expectations and try to get used to an investing environment that's defined by rates that could well remain higher for longer even as geopolitical tensions heighten. Luke Browne, who heads up the Multi-Asset Solutions Team in Asia, explains the thinking behind the team's latest asset allocation views.
Diversification and active asset allocation—not the same
Diversification refers to how an investment portfolio is divided into various asset classes, such as stocks, bonds, and cash. Since different asset classes rarely perform in lockstep, the goal of diversification is to reduce investment risk, since positive returns from one asset class can be used to offset the returns from another that’s underperforming.
Active asset allocation takes diversification a step further. By determining which combination of assets can provide the highest return potential for a certain level of risk, it attempts to forecast the performance potential of a portfolio and reduce the chance of negative returns. Ongoing monitoring helps ensure the portfolio’s asset mix can adapt quickly to take advantage of changes in the financial markets. Active asset allocation is the same approach taken by large financial institutions and pension plans and is considered a best practice for wealth management.
Four actively managed portfolios
Manulife asset allocation portfolios consist of four actively managed fund-of-funds investment portfolios that include exchange-traded funds (ETFs). Each portfolio is designed for a specific risk tolerance and return objective.
They’re simple to understand, easy to buy, and provide your clients with access to some of the most popular mutual funds and ETFs that Manulife Investment Management offers in a single, one-ticket solution.
The presented asset allocation of the portfolios is for illustration purposes only. Actual asset allocation may vary. The asset allocation is based on the strategic mixes of each portfolio. Please refer to the fund facts for each portfolio investment mix.
Mutual fund portfolios
Features
- Pension-style management and oversight are provided by Manulife Investment Management’s multi-asset solutions team
- Proprietary investment process is optimized by asset class, investment style, and geographical region
- Actively managed to help protect capital and keep your clients positioned for ever-changing markets
- Ongoing professional rebalancing to help manage each portfolio’s exposure to risk
- Comprehensive reporting
Segregated fund portfolios
Features
- Pension-style management and oversight are provided by Manulife Investment Management’s multi-asset solutions team
- Proprietary investment process is optimized by asset class, investment style, and geographical region
- Actively managed to help protect capital and keep your clients positioned for ever-changing markets
- Ongoing professional rebalancing to help preserve each portfolio’s exposure to risk
- Comprehensive performance reporting
- Potential creditor protection
- Ability to bypass the estate
- Death benefit guarantee
- Maturity benefit guarantee
- Available in either GIF Select InvestmentPlus or MPIP Segregated Pools
Important disclosure
The presented asset allocation of the portfolios is for illustration purposes only. Actual asset allocation may vary. The asset allocation is based on the strategic mixes of each portfolio. Please refer to the fund facts for each portfolio investment mix.
Top 5 reasons to consider Manulife asset allocation portfolios
1. Experienced pension-like wealth management
Manulife Investment Management’s multi-asset solutions team has more than 25 years of asset allocation experience and manages CAD $180 billion for clients worldwide.
2. Rigorous investment process
The team’s process is time and cycle-tested and scalable. Each portfolio is an actively managed mix of underlying investments providing diversified and complimentary exposure to different geographies, sectors and investment styles.
3. Active strategic and opportunistic approach
The team’s process enables them to strategically allocate capital over the longer term while remaining nimble enough to capitalize on short term opportunities.
4. Built-in risk mitigation
The team continuously monitors and reviews risk within the portfolio and allocates capital relative to the portfolio’s risk profile. With four portfolios to choose from depending on risk appetite, we can help investors decide which portfolio is most appropriate for their needs.
5. A range of options available
Our Asset Allocation portfolios provide access to expert fund management from Manulife Investment Management, Mawer Investment Management, Dimensional Fund Advisors Canada and Brookfield Asset Management. They’re offered within the TFSA or RRSP plan types and available on both the mutual fund and segregated fund platforms. Each portfolio also offers a Series T option for a tax-efficient way to invest.
Team and process
The team behind the portfolios—Manulife Investment Management’s multi-asset solutions team
Applying active asset allocation successfully takes an expert team. Manulife Investment Management’s multi-asset solutions team has built its reputation and global wealth management credentials on its asset allocation expertise. With over CAD $182.6 billion* in assets under management, the group manages a wide variety of investment solutions around the globe designed to meet investor goals.
The multi-asset solutions team’s investment process
The multi-asset solutions team’s investment process is amongst the most comprehensive in the industry and ensures every portfolio is optimized by asset class, investment style, and geographic region. The team applies a rigorous three-step process:
Step 1: build expected return forecasts
- Five-year investment returns forecast for 140 different asset classes
- Distinct approaches for asset classes
- Quarterly review
Step 2: asset class and strategy selection
- Asset allocation is the primary driver of returns
- Selection of complementary strategies with an emphasis on consistent results
- Annual review
Step 3: portfolio construction
- Four-pillar approach to ongoing active management
- Emphasis on managing risk
- Short-term opportunities reviewed weekly
Important disclosure
* As at December 31, 2022.
Meet the team
Portfolio managers
Nathan W. Thooft, CFA
Senior Managing Director, Senior Portfolio Manager, Global Head of the Asset Allocation Team
Manulife Investment Management
James (Jamie) Robertson, CIM
Senior Portfolio Manager, Head of Asset Allocation–Canada, and Global Head of Tactical Asset Allocation, Multi-Asset Solutions Team
Manulife Investment Management
Alexandre M. Richard, CFA
Portfolio Manager, Multi-Asset Solutions Team
Manulife Investment Management
Portfolio Specialist
Chief Economist
Our funds
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Manulife Balanced Portfolio Manulife Conservative Portfolio Manulife Growth Portfolio Manulife Moderate Portfolio
Mutual fund portfolios
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Manulife Conservative Portfolio GIF Select Manulife Moderate Portfolio GIF Select Manulife Balanced Portfolio GIF Select Manulife Growth Portfolio GIF Select Manulife Conservative Private Segregated Portfolio Manulife Moderate Private Segregated Portfolio Manulife Balanced Private Segregated Portfolio Manulife Growth Private Segregated Portfolio Manulife Conservative Portfolio Seg RESP Manulife Moderate Portfolio Seg RESP Manulife Balanced Portfolio Seg RESP Manulife Growth Portfolio Seg RESP
Segregated fund portfolios
Resources
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Manulife asset allocation portfolio’s quarterly commentary and market snapshot Client brochure Client overview Series T brochure Investor profile questionnaire (PDF version)
Investor marketing materials
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Three themes shaping asset allocation in H2 2023 Finding balance: The security of asset allocation in times of turbulence Rebalancing a portfolio can offer calm amidst the storm
Viewpoints
Asset allocation in turbulent times
We can’t predict the risks that cause market volatility, but we can be prepared for them. Manulife Investment Management’s multi-asset solutions team joined Investments Unplugged to discuss how they were prepared for the recent turbulence in the markets. Investments Unplugged: Episode 31
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James Robertson talks about what motivates him.
James Robertson, Senior Managing Director, Senior Portfolio Manager and Head of Asset Allocation Canada & Global Head of Tactical Allocation, Manulife Investment Management.
Regulatory Materials
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Prospectus/AIF Fund facts
Mutual fund portfolios
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GIF Select InvestmentPlus information folder and contract (PDF) GIF Select InvestmentPlus fund facts (PDF) MPIP Segregated Pools information folder and contract MPIP Segregated Pools fund facts and addendum Manulife Segregated Fund Education Savings Plan (ESP) Information Folder and Contract Manulife Segregated Fund Education Savings Plan (ESP) Fund Facts
Segregated fund portfolios
Manulife Asset Allocation Portfolios are managed by Manulife Investment Management Limited (formerly named Manulife Asset Management Limited). Manulife Investment Management is a trade name of Manulife Investment Management Limited. Manulife, Manulife Investment Management, the Stylized M Design, InvestmentPlus, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it and by its affiliates under license.
Manulife Asset Allocation Portfolios are available in the InvestmentPlus Series of the Manulife GIF Select, MPIP Segregated Pools and Manulife Segregated Fund Education Saving Plan insurance contracts offered by The Manufacturers Life Insurance Company.
The Manufacturers Life Insurance Company (Manulife) is the issuer of insurance contracts containing Manulife segregated funds and the guarantor of any guarantee provisions therein. Manulife Investment Management is a trade name of The Manufacturers Life Insurance Company.
Any amount that is allocated to a segregated fund is invested at the risk of the contractholder and may increase or decrease in value. Age restrictions and other conditions may apply.
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