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Wednesday, November 13, 2019|
MF's Now Account For 17 Percent of This Multinational's AUMA
The team at Toronto-based Manulife Financial, the parent company of Boston-based John Hancock Investment Management, has released tjeor 2019 Q3 reports, and mutual funds accounted for C$201.3 billion ($152 billion USD) or 17 percent of the total assets under management and administration.
Global wealth and asset management's Q3 2019 net outflows amounted to C$4.4 billion ($3.3 billion USD) with net inflows of C$2.3 billion ($1.74 billion USD) and C$119 million ($90 million USD) from Asia and the U.S. respectively, and net outflows of C$6.9 billion ($5.2 billion USD) from Canada.
Net flows in Asia rose C$1.3 billion ($983 million USD) from 2018 Q3 driven by lower retail redemptions and higher institutional gross flows. Canada saw net outflows of C$6.9 billion ($5.2 billion USD), an increase of 78 percent compared with net outflows of C$1.5 billion ($1.1 billion USD) in Q3 2018. In the U.S., net flows in 2019 Q3 decreased C$0.8 billion ($605 million USD) due to funding of a large institutional mandate in 2018 Q3 offset by lower retail redemptions.
Roy Gori, president and CEO of Manulife, stated that "the retail and retirement business lines delivered strong net flows of approximately $3 billion" in the global wealth and asset management business.
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