Manulife enters Chilean market with range of UCITS sub-funds

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Manulife Asset Management, the global asset management arm of the Toronto-based Manulife group, has announced that a selection of its funds are now being made available to institutional investors in Chile, as it looks to expand its presence in the region.

The announcement, last week, that eight sub-funds of its Luxembourg UCITS fund range – the Manulife Global Fund –  are now being sold into the Chilean market comes in the wake of its signing a distribution agreement earlier this year with Banchile Administradora General de Fondos, Manulife noted.

Banchile Administradora is a Santiago-based asset manager, and a subsidiary of the Bank of Chile.

The eight Manulife sub-funds are the American Growth Fund, Asian Equity Fund, Asian Small Cap Equity Fund, Dragon Growth Fund, Global Equity Fund, Healthcare Fund, India Equity Fund, and U.S. Bond Fund, Manulife said.

Also ahead of the launch of the sub-funds range, Manulife AM last year named Diana Stockwell, an experienced Latin American funds industry executive, to head up sales in Latin America, and oversee client relationships in the region, as part of its global expansion.

In a statement last week accompanying the announcement of the launch of the sale of Manulife AM’s funds in Chile, Stockwell noted that the “UCITS initiative in Chile”  represented “an important milestone in our overall engagement strategy for Manulife Asset Management in Latin America”.