The Sponsor, The Manufacturers Life Insurance Company, was established in 1887 and is part of a leading Canada-based financial services group with principal operations in Canada, the United States and Asia.
Manulife Financial Corporation is listed on the Toronto Stock Exchange, the New York Stock Exchange, the Hong Kong Stock Exchange and the Philippine Stock Exchange.
The Sponsor’s Financial Strength credit ratings are AA- (Standard & Poor’s Ratings Group), A1 (Moody’s Investors Service, Inc.) and AA- (Fitch Ratings Inc.).
At its founding in 1887, the Sponsor’s first president was also Canada’s first Prime Minister, Sir
John A. Macdonald. Today, the Sponsor and its subsidiaries provide a wide range of financial
protection and wealth management products, such as life and health insurance, group retirement
products, mutual funds and banking products across Canada, the U.S. and Asia. It is also
experienced, through its regulated advisory subsidiaries, in providing asset management services
to institutional customers worldwide.
The Sponsor also has a demonstrated business expertise in Asia dating back more than 100 years
since 1897 and has the longest history of continuous operation in Asia of any international insurer.
Currently Manulife Asia operates in 11 countries/territories (China, Hong Kong, Taiwan, Japan,
Thailand, Cambodia, Malaysia, Vietnam, Singapore, the Philippines and Indonesia). Its
distribution network comprises more than 60,000 professional agents, 100 bank partnerships and
500 dealers, independent agents and broker signed major distribution deals. The Sponsor sells
both protection and wealth management products in Asia. Protection products include life
insurance, group life and health, and hospital coverage. Wealth management products include
mutual funds, pensions and investment-linked products.
In Canada, the Sponsor’s Canadian Division has grown into a team of 9,100 employees, serving
one in every five Canadians. Globally, the Sponsor and its subsidiaries have an international
network of more than 86,000 employees and agents in more than 20 countries and territories.
In the U.S., the Sponsor operates as John Hancock, which celebrated its 150th anniversary in
2012. With roughly 5,100 employees, John Hancock’s core retail products in the U.S. focus on
providing financial solutions such as 401(k) retirement plans, mutual funds, college savings plans,
life insurance and long term care.
Asset Management Capabilities
Manulife Financial Corporation has US$676 billion in assets under management and
administration as at 31 December 2015 of which over 60% is managed for third parties and the
remainder are Manulife’s own assets invested on behalf of its General Account.
Manulife Asset Management is the global asset management arm of the Sponsor providing
comprehensive asset management solutions for institutional investors and investment funds in
key markets around the world. This investment expertise extends across a broad range of public
and private asset classes, as well as asset allocation solutions. As at 31 December 2015, AUM for
Manulife Asset Management’s public markets were approximately US$301 billion.
Manulife Asset Management Private Markets brings together many of the Sponsor’s private
securities investment management capabilities that were initially developed to manage its
General Account assets. Manulife Asset Management Private Markets’ investment expertise
spans across several private asset classes, including commercial real estate, timberland and
farmland, biomass renewable energy, oil and gas, private equity and mezzanine debt. Manulife
Asset Management Private Markets also partners with Manulife’s specialised private fixed income
investment teams to invest in private placement debt and commercial mortgages. Hancock
Natural Resources Group, Manulife Real Estate, John Hancock Real Estate, NAL Resources,
Regional Power, Manulife Capital, and Hancock Capital Management are units of Manulife Asset
Management Private Markets. As at 31 December 2015, Manulife Asset Management Private
Markets’ AUM were US$77.6 billion, representing private assets managed by and for Manulife’s
general fund and external clients.
The private market investments of the Sponsor and its subsidiaries include, as at 31 December
2015, approximately: (i) US$21.1 billion of private placement debt, (ii) US$19.8 billion of
commercial mortgages, (iii) US$11.2 billion of timberland, (iv) US$15.0 billion of real estate, (v)
US$6.4 billion of private equity and mezzanine debt, (vi) US$2.6 billion of farmland, (vii) US$1.2
billion of oil and gas producing assets and investments, and (viii) US$0.4 billion of renewable
Manulife Real Estate, the real estate investment and management arm of the Sponsor, has over
70 years of experience through the acquisition, development, ownership, and asset and property
management of its multi-billion dollar global real estate portfolio. As at 31 December 2015, the
Manulife Real Estate portfolio totalled nearly 64.0 million sq ft across North America and Asia.
Manulife Real Estate has a strong acquisition capability with over US$6.2 billion of acquisitions
since 2010. Currently, approximately 82% of real estate AUM is managed for the General Account
and the Sponsor is looking to expand third party real estate offerings across multiple geographies.
In Canada, Manulife Real Estate has an established real estate investment management business
which invests in Canadian real estate properties on behalf of institutional investors. Manulife
Canadian Property Portfolio (“MCPP”), launched in 2011, is a core open-end income producing
real estate investment fund designed for institutional investors to deliver a steady flow of income
and long-term capital growth through direct investment in and active management of real estate
located across Canada. MCPP currently holds 51 quality income producing office, industrial and
retail properties with a net asset value of US$500.5 million as at 31 December 2015. The portfolio
totals nearly 6.3 million sq ft and is diversified by geography, tenant base and asset class. On 30
January 2015, Manulife closed the acquisition of Standard Life plc’s Canadian operations,
including its Canadian asset management business, Standard Life Investments Inc. As part of the
acquisition, Manulife now manages the Manulife Pooled Real Estate Fund, formerly known as the
Standard Life Real Estate Fund with a net asset value of US$1,262.6 million with 117 properties
held in the portfolio as at 31 December 2015.