MD Financial has appointed Manulife Asset Management to manage four of its fixed-income funds with more than $8 billion of assets.
The Canadian Medical Association (CMA) firm that manages money for doctors has awarded Manulife the mandate for its MD Short Term Bond Fund, MD Bond Fund, MDPIM Canadian Long Term Bond Pool, and MDPIM Canadian Bond Pool. Manulife's Canadian Fixed Income team, led by Terry Carr, and its Global Multi-Sector Fixed Income team, led by Daniel S. Janis III, will be in charge of the funds.
MD Management announced in May that it was planning to make changes to its fixed income funds as part of a "strategic realignment", and Manulife took over management in June.
"We are extremely proud that MD, an existing client, chose to extend our relationship with this fixed income mandate. Our investment excellence and consistent client service focus has created a strong partnership with MD, and a foundation for continuing to help them achieve their financial goals," comments Kai Sotorp, president and CEO of Manulife Asset Management and global head of wealth and asset management for Manulife.