DOCSLIB.ORG

2020 Manulife Investment Management (US) LLC Firm Brochure

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2020 Manulife Investment Management (US) LLC Firm Brochure Firm Brochure (Part 2A of Form ADV) Firm Brochure Supplement (Part 2B of Form ADV) Privacy Notice Proxy Voting Manulife Investment Management (US) LLC Boston, MA 02116 617-375-1500 www.manulifeim.com March 29, 2021 T This brochure provides information about the qualifications and business practices of Manulife Investment Management (US) LLC. If you have any questions about the contents of this brochure, please contact us at the number above. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission (“SEC”) or by any state securities authority. Registration with the SEC does not imply a certain level of skill or training. Additional information about Manulife Investment Management (US) LLC also is available on the SEC’s website at www.adviserinfo.sec.gov. Firm Brochure (Part 2A of Form ADV) Manulife Investment Management (US) LLC Boston, MA 02116 617-375-1500 www.manulifeim.com March 29, 2021 This brochure provides information about the qualifications and business practices of Manulife Investment Management (US) LLC. If you have any questions about the contents of this brochure, please contact us at the number above. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission (“SEC”) or by any state securities authority. Registration with the SEC does not imply a certain level of skill or training. Additional information about Manulife Investment Management (US) LLC also is available on the SEC’s website at www.adviserinfo.sec.gov. Material Changes Material changes made to this Form ADV, Part 2A Brochure since the last amendment dated March 27, 2020 are as follows: • Section “II. Fee and Compensation” was updated to provide further detail on Managed Account Program fees. • Section “V. Method of Analysis, Investment Strategies, and Risk of Loss” was updated to enhance our Sustainable Investment Strategy disclosure and remove a discontinued strategy. 2 Table of Contents I. Advisory Business ............................................................................................................................................ 4 Advisory Business Overview ............................................................................................................................................ 4 Participation in Managed Account Programs ................................................................................................................... 5 Discretionary Authority and Assets Under Management.................................................................................................. 7 II. Fees and Compensation .................................................................................................................................. 8 Fees ................................................................................................................................................................................. 8 Managed Account Programs Fees .................................................................................................................................. 8 Private Funds ................................................................................................................................................................... 9 Billing Methods ................................................................................................................................................................ 9 Payment for Partial Periods and Fee Refunds ................................................................................................................. 9 Other Fees and Expenses ............................................................................................................................................. 10 III. Performance-Based Fees and Side-by-Side Management .............................................................................. 10 IV. Types of Clients .............................................................................................................................................. 11 Conditions for Managing Accounts ................................................................................................................................ 11 Establishing a New Customer Relationship ................................................................................................................... 11 V. Methods of Analysis, Investment Strategies, and Risk of Loss ....................................................................... 11 Investment Risks ........................................................................................................................................................... 12 Equity Strategies ............................................................................................................................................................ 12 Preferred Strategies ....................................................................................................................................................... 13 Fixed Income Strategies ................................................................................................................................................ 14 Multi-Asset Strategies .................................................................................................................................................... 14 Sustainability Risks and Opportunities ........................................................................................................................... 15 VI. Disciplinary Information ................................................................................................................................. 16 VII. Other Financial Industry Activities and Affiliations ......................................................................................... 16 Sponsor or Syndicator of Limited Partnerships .............................................................................................................. 19 Commodity Trading Advisor ........................................................................................................................................... 19 VIII. Code of Ethics, Participation or Interest in Client Transactions and Personal Trading .................................. 19 Code of Ethics ............................................................................................................................................................... 19 Participation or Interest in Client Transactions ............................................................................................................... 19 IX. Brokerage Practices ...................................................................................................................................... 20 Brokerage Discretion ..................................................................................................................................................... 20 Approved Trading Counterparties .................................................................................................................................. 20 Selection of Brokers, Dealers, and Counterparties ........................................................................................................ 21 Affiliated Brokers ............................................................................................................................................................ 21 Cross Transactions ........................................................................................................................................................ 21 Best Execution ............................................................................................................................................................... 22 Research and Other Soft Dollar Benefits ....................................................................................................................... 22 Directed Brokerage ........................................................................................................................................................ 25 Trade Aggregation ......................................................................................................................................................... 25 Managed Account Programs ......................................................................................................................................... 25 X. Review of Accounts ........................................................................................................................................ 26 Internal Review of Client Accounts ................................................................................................................................ 26 Client Reporting ............................................................................................................................................................. 27 XI. Client Referrals and Other Compensation ..................................................................................................... 27 XII. Custody .......................................................................................................................................................... 28 XIII. Investment Discretion ...................................................................................................................................
Load more

Recommended publications
  • PIMCO All Asset Portfolio
    PIMCO All Asset Portfolio SUMMARY PROSPECTUS Underlying PIMCO Funds and is separate from the management fees paid to Pacific Investment Management Company LLC (“PIMCO”). Excluding interest expense of the April 30, 2021 Underlying PIMCO Funds,Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement are 1.215% for Administrative Class shares. Share Class: Administrative Class 2 Total Annual Portfolio Operating Expenses do not match the Ratio of Expenses to Average Net Assets Excluding Waivers of the Portfolio, as set forth in the Financial As permitted by regulations adopted by the Securities and Exchange Commission, you Highlights table of the Portfolio’s prospectus, because the Ratio of Expenses to may not be receiving paper copies of the Portfolio's shareholder reports from the Average Net Assets Excluding Waivers reflects the operating expenses of the Portfolio insurance company that offers your contract unless you specifically request paper copies and does not include Acquired Fund Fees and Expenses. from the insurance company or from your financial intermediary Instead, the shareholder 3 PIMCO has contractually agreed, through May 1, 2022, to reduce its advisory fee to reports will be made available on a website, and the insurance company will notify you by the extent that the Underlying PIMCO Fund Expenses attributable to advisory and mail each time a report is posted and provide you with a website link to access the report. supervisory and administrative fees exceed 0.64% of the total assets invested
    [Show full text]
  • Review Risk Management Institue
    NOV 2016 · VOL 3 PRIVATE EQUITY GOSS INSTITUTE OF RESEARCH MANAGEMENT LIMITED NATIONAL UNIVERSITY OF SINGAPORE REVIEW RISK MANAGEMENT INSTITUE HAITAO JIN Qianhai Fund of Fund, LLP Exploring the Business Model of China’s Private Equity/Venture Capital (PE/VC) Fund of Funds (FOF) Investments KATAHIRA MASAKI Eastasia Investment (International) Limited New Findings on Japan’s Capital Market: A Study on Japan Post Group’s Successful Transformation through Capital Market WEI CUI, MIN DAI, AND STEVEN KOU Risk Management Institute’s New Research Initiative A Pricing and Risk Management System for Chinese Bonds PRIVATE EQUITY REVIEW PRIVATE EQUITY REVIEW CONTENTS EDITORIAL BOARD Darrell Duffie, Stanford University MESSAGE FROM THE EDITORS Quanjian Gao (Editor-in-Chief), GOSS Institute of Research COVER ARTICLE Management Ltd. 01 Exploring the Business Model of Jeff Hong (Co-Editor), China’s Private Equity/Venture Capital (PE/VC) City University of Hong Kong Fund of Funds (FOF) Investments Li Jin, Haitao Jin Oxford University Steven Kou (Co-Editor), ACADEMIC INSIGHTS National University of Singapore 10 New Findings on Japan’s Capital Market: Neng Wang, A Study on Japan Post Group’s Successful Columbia University Transformation Through Capital Market Houmin Yan, Katahira Masaki City University of Hong Kong Lin Zhou, CASE STUDY Shanghai Jiao Tong University 22 Will Private Equity (PE) Firms Continue to Invest in China’s Auto Consumption and Sales Industry? Yankun Hou ADVISORY BOARD 32 Quantitative Methods for Venture Capital Investment Weijian Shan,
    [Show full text]
  • Artisan Thematic Strategy
    Q2 2020 Artisan Thematic Strategy This material is intended to provide an overview of the Thematic team's investment philosophy and process. Investment in any vehicle managed by the team is subject to further documentation contained in the vehicle's offering materials. This material is not for use by retail investors and may not be reproduced or distributed without Artisan Partners' permission. This material does not constitute an offer or solicitation where such actions are not authorized or lawful. Further limitations on the availability of products or services described herein may be imposed. This material is only intended for investors which meet qualifications as institutional investors as defined in the applicable jurisdiction where this material is received, which includes only Professional Clients or Eligible Counterparties as defined by the Markets in Financial Instruments Directive (MiFID) where this material is issued by APUK or AP Europe. This material is not for use by retail or professional clients and may not be reproduced or distributed without Artisan Partners’ permission. For US institutional investors and MiFID Eligible Counterparties Only—Not for Onward Distribution GIPS Composite Report included in appendix Artisan Partners Important Disclosures These materials are provided solely for use in a private meeting and are intended for informational and discussion purposes only. Investment is subject to further documentation. This document is not a prospectus. Unless expressly stated, it has not otherwise been registered with, or approved by, any regulatory authority in any jurisdiction. This material is for informational purposes only and shall not be construed as investment or tax advice. Prospective investors should consult their financial and tax adviser before making investments in order to determine whether investment will be suitable for them.
    [Show full text]
  • Disruptive Regulation: a Secular Investment Opportunity
    FEATURED SOLUTION PIMCO Alternatives Disruptive Regulation: A Secular Investment Opportunity AUTHORS It’s been nearly a decade since the global financial crisis Christian Stracke prompted an onslaught of regulations intended to Managing Director Global Head, Credit Research abolish excessive risk-taking and make the financial Tom Collier system safer. Yet the implementation of reforms – and Executive Vice President their disruptive effect on financial business models – Product Manager will peak only over the next few years. As Dodd-Frank and Basel regulations come into force and a further wave of regulatory reform is announced, we believe banks will exit more non-core businesses, specific funding gaps will become more acute and dislocations between public and private markets will become more frequent. Each will create investment opportunities for less constrained and patient capital to capture economic profits being ceded by banks. The lengthy process of financial sector reform is not a surprise given its complexity. Passed in July 2010, for instance, the Dodd-Frank Wall Street Reform and Consumer Protection Act runs to more than 350,000 words. Many details were left to administrators to define – and at the end of 2015, fewer than 60% had been implemented. Basel III regulations, intended to increase liquidity and decrease leverage at banks, were published in late 2009, but will not be fully implemented until 2019. Bankers are already fretting over “Basel IV,” a collection of rules being contemplated that would tighten the screws even further. 2 Featured Solution August 2016 For banks, the cost of Although most banks have increased their capital significantly, they face intense shareholder new regulations is high pressure to improve returns on capital.
    [Show full text]
  • Manulife Asset Allocation Client Brochure
    Manulife Asset Allocation Portfolios Sophisticated Investment Solutions Made Simple 1 Getting The Big Decisions Right You want a simple yet Deciding how to invest is one of life’s big decisions – effective way to invest in fact it’s a series of decisions that can have a big and Manulife Asset impact on your financial future. Allocation Portfolios It can be complicated and overwhelming, leaving you feeling uncertain offer a solution that can and anxious. The result? Many investors end up chasing fads, trends and help you get it right. short-term thinking, which can interfere with your ability to achieve long-term financial goals. As an investor, you want to make the most of your investments. You want to feel confident you’re receiving value for your money and reputable, professional advice. Big life decisions “Am I making the right investment choices?” Disappointing returns “Should I change my investing strategy?” Confusion and guesswork “How can I choose the best investment for me?” Manulife Asset Allocation Portfolios are managed by Manulife Investment Management Limited (formerly named Manulife Asset Management Limited). 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. 2 Why Invest? The goal is to offset inflation and grow your wealth, while planning for important financial goals. Retirement: Canadian Education Raising a Child Pension Plan (CPP) $66,000 $253,947 $735.21 Current cost of a four-year The average cost of raising a Current average monthly payout for post-secondary education1 child from birth to age 183 new beneficiaries.
    [Show full text]
  • Fund Selection
    Fund selection Y our investment fund options The following selection of funds are available within the DC Pension Plan and Group RRSP. You can choose a combination of these funds. Investment Management Fund Asset Class Fund Name Management Style Code Fee (IMF)1 MLI BlackRock Passive LifeP ath Index 2321 0.180% Retirement Fund* MLI BlackRock Passive LifeP ath Index 2020 2324 0.180% Fund* MLI BlackRock Passive LifeP ath Index 2025 2325 0.180% Fund* MLI BlackRock Passive LifeP ath Index 2030 2326 0.180% Fund* Target Date MLI BlackRock Passive LifeP ath Index 2035 2327 0.180% Fund* MLI BlackRock Passive LifeP ath Index 2040 2328 0.180% Fund* MLI BlackRock Passive LifeP ath Index 2045 2329 0.180% Fund* MLI BlackRock Passive LifeP ath Index 2050 2330 0.180% Fund* Guaranteed 5-Y ear Guaranteed Interest N/A 1005 N/A Interest Account Account Active MLI Canadian Money 3132 0.100% Money Market Market Fund (MAM) Passive MLI Asset 4191 0.100% Management Fixed Income Canadian Bond Index Fund Active MLI Multi-Managed 5195 0.355% Balanced Fund Balanced Passive MLI BlackRock 2312 0.105% Balanced Moderate Index Fund Active MLI Canadian Equity 7011 0.210% Fund Canadian Passive MLI Asset 7132 0.100% Equity Management Canadian Equity Index Fund Active MLI U.S. Diversified 8196 0.375% Grow th Equity (Wellington) Fund U.S. Equity Passive MLI BlackRock U.S. 8322 0.090% Equity Index Fund* Active MLI MFS MB 8162 0.280% International Equity International Fund Equity Passive MLI BlackRock 8321 0.160% International Equity Index Fund* 1 IMFs shown do not include applicable taxes.
    [Show full text]
  • NP Key Contacts.Pdf
    IGP Network Partners: Key Contacts Region: Americas Country / Territory IGP Network Partner IGP Contact Email Type IGP Regional Coordinator Mr. Michael Spincemaille [email protected] Argentina SMG LIFE Mr. Nicolas Passet [email protected] Partner Brazil MAPFRE Vida S.A. Ms. Débora Nunes Santos [email protected] Partner Canada Manulife Financial Corporation Mr. Kajan Ramanathan [email protected] Partner Chile MAPFRE Chile Ms. Nathalie Gonzalez [email protected] Partner Colombia MAPFRE Colombia Ms. Ingrid Olarte Pérez [email protected] Partner Costa Rica MAPFRE Costa Rica Mr. Armando Sevilla [email protected] Partner Dominican Republic (Life) MAPFRE BHD Mrs. Alejandra Quirico [email protected] Partner Dominican Republic (Health) MAPFRE Salud ARS, S. A. Mr. Christian Wazar [email protected] Partner Ecuador MAPFRE Atlas * Mr. Carlos Zambrano [email protected] Correspondent El Salvador MAPFRE Seguros El Salvador S.A. Mr. Daniel Acosta González [email protected] Partner French Guiana Refer to France - - Partner Guadeloupe Refer to France - - Partner Guatemala MAPFRE Guatemala Mr. Luis Pedro Chavarría [email protected] Partner Honduras MAPFRE Honduras Mr. Carlos Ordoñez [email protected] Partner Martinique Refer to France - - Partner Mexico Seguros Monterrey New York Life Ms. Paola De Uriarte [email protected] Partner Nicaragua MAPFRE Nicaragua Mr. Dany Lanuza Flores [email protected] Partner Panama MAPFRE Panama Mr. Manuel Rodriguez [email protected] Partner Paraguay MAPFRE Paraguay Mr. Sergio Alvarenga [email protected] Partner Peru MAPFRE Peru Mr. Ramón Acuña Huerta [email protected] Partner Saint Martin Refer to France - - Partner Saint Barthélemy Refer to France - - Partner Saint Pierre & Miquelon Refer to France - - Partner United States Prudential Insurance Company of America Mr.
    [Show full text]
  • Alternative Funds
    GLOBAL PRACTICE GUIDES Definitive global law guides offering comparative analysis from top-ranked lawyers Alternative Funds Introduction Christopher Hilditch, Schulte Roth & Zabel chambers.com 2020 INTRODUCTION Contributed by: Christopher Hilditch, Schulte Roth & Zabel At the beginning of 2020, many alternative (or private) fund all the evidence, be that multiple broker quotes, third-party managers might have been cautiously optimistic. In the year valuation agent inputs, or whatever, needs to be readily at hand ending 31 December 2019, hedge funds had seen average in the event of a challenge. At the same time, it is important to returns in excess of 12% which, whilst not stellar compared to maintain an open dialogue with the fund auditors to ensure that the extraordinary returns seen in the market, was a welcome they are on the same page come audit time. return to good performance after a number of years of poor returns. Private equity funds also showed double digit returns In times of turmoil, there is a renewed focus on liquidity. The over one-year, three-year, five-year and ten-year time horizons. standard redemption terms of an open-ended fund are predi- Of course, some strategies performed better than others – mac- cated on the anticipated usual liquidity of the underlying portfo- ro and long equity amongst hedge fund strategies and buyout lio. However, a crisis such as the COVID-19 pandemic not only among private equity strategies. causes liquidity issues in the market (potentially exacerbating the valuation concerns mentioned above), but is also likely to Notwithstanding, the fund-raising environment continued to create liquidity pressure on a fund as investors seek to redeem be challenging for many, especially for hedge funds.
    [Show full text]
  • Division of Investment Management No-Action Letter: Lazard Freres
    FEB 2 1996 Our Ref. No. 95-399 RESPONSE OF THE OFFICE OF CHIEF Lazard Freres Asset COUNSEL DIVISION OF INVESTMENT Management MAAGEMENT File No.80l-6568 Your letter dated July 20, 1995 requests our assurance that we would not recommend enforcement action to the Commission under the Investment Advisers Act of 1940 ("Advisers Act ") if Lazard Freres Asset Management ("LFAM"), a registered investment adviser, charges a performance fee to BPI Capital Management Corporation (BPI Capital) with respect to the performance of the BPI Global Opportunities Fund (the "Fund"). BPI Capital is an investment counsel and portfolio manager registered under the laws of the Province of Ontario and manages 16 publicly offered mutual funds. The Fund is an open- end fund organized under the laws of the Province of Ontario. The Fund has entered into a management agreement with BPI Capital under which BPI Capital is responsible for management of the Fund's ::civestment portfolio and day- to- day management of the Fund. unics of the Fund are offered to investors in the Provinces of Ontario, Manitoba, Saskatchewan, Alberta and British Columbia pursuant to prospectus exemptions under the laws and regulations of each of these Provinces. Under such prospectus exemptions, miLimum investment amounts are CAD $150,000 for investors in Oncario and Saskatchewan and CAD $97,000 for investors in Mani toba, Alberta and British Columbia. A lower minimum amount of CAD $25,000 is available to investors in British Columbia designated as "sophisticated purchasers." No units of the Fund have been offered to any investors residing in the United States and there is no intention to offer any units of the Fund to U.
    [Show full text]
  • Investment Edge® Variable Annuity
    Investment Edge® Variable Annuity May 1, 2017 Variable Annuities: • Are Not a Deposit of Any Bank • Are Not FDIC Insured • Are Not Insured by Any Federal Government Agency • Are Not Guaranteed by Any Bank or Savings Association • May Go Down in Value Issued by AXA Equitable Life Insurance Company. Table of Contents Variable Product Prospectus Page Investment Edge® 15.0 1 Summary Prospectuses Page Label Page Label AXA Premier VIP Trust EQ/PIMCO Global Real Return EQPGRR 1-5 AXA Aggressive Allocation AAA 1-5 EQ/PIMCO Ultra Short Bond EQPUS 1-5 AXA Moderate Allocation AMA 1-5 EQ/Small Company Index EQSCI 1-3 AXA Moderate-Plus Allocation AMPA 1-5 EQ/T. Rowe Price Growth Stock EQTGS 1-4 CharterSM Aggressive Growth CAGR 1-6 Multimanager Technology MMT 1-5 CharterSM Conservative CCON 1-6 CharterSM Growth CGR 1-6 CharterSM Moderate CMOD 1-6 CharterSM Moderate Growth CMGR 1-6 CharterSM Small Cap Growth CSCG 1-5 CharterSM Small Cap Value CSCV 1-5 EQ Advisors Trust 1290 VT Convertible Securities VTCS 1-5 1290 VT DoubleLine Opportunistic Bond VTDO 1-6 1290 VT Energy VTE 1-5 1290 VT Equity Income VTEI 1-4 1290 VT GAMCO Mergers & Acquisitions VTGM 1-5 1290 VT GAMCO Small Company Value VTGSC 1-3 1290 VT High Yield Bond VTHY 1-6 1290 VT Low Volatility Global Equity VTLG 1-4 1290 VT Natural Resources VTNR 1-4 1290 VT Real Estate VTRE 1-5 1290 VT SmartBeta Equity VTSB 1-4 1290 VT Socially Responsible VTSR 1-5 All Asset Growth-Alt 20 EQAA 1-7 AXA/AB Dynamic Moderate Growth AABDMG 1-7 AXA/AB Short Duration Government Bond AABSDGB 1-5 AXA/AB Small Cap Growth
    [Show full text]
  • Manulife Global Fund Unaudited Semi-Annual Report
    Unaudited Semi-Annual Report Manulife Global Fund Société d'Investissement à Capital Variable for the six month period ended 31 December 2020 No subscription can be received on the basis of nancial reports. Subscriptions are only valid if made on the bases of the current prospectus, accompanied by the latest annual report and semi-annual report if published thereaer. SICAV R.C.S Luxembourg B 26 141 Contents Directors ..................................................................................................................................................... 1 Management and Administration ............................................................................................................. 2 Directors’ Report ........................................................................................................................................ 4 Statement of Net Assets ........................................................................................................................... 10 Statement of Changes in Net Assets ........................................................................................................ 15 Statement of Operations ........................................................................................................................... 20 Statistical Information ............................................................................................................................... 25 Statement of Changes in Shares .............................................................................................................
    [Show full text]
  • Investment Management Update
    Investment Management Update March 2012 CFTC Adopts Rule Amendments Affecting CPOs and CTAs Introduction • Eliminate an exemption available in Rule 4.7 under the CEA to commodity pools whose participants The Commodity Futures Trading Commission (CFTC) are “qualified eligible participants” from the recently adopted amendments to Part 4 of the regulations requirement to provide audited financial 1 statements in annual reports. implementing the Commodity Exchange Act (CEA). In • Incorporate by reference, rather than by full relevant part, Part 4 of the regulations sets forth the inclusion of its specific text, the accredited registration and compliance obligations for commodity pool investor standard set forth in Rule 502 of operators (CPOs) and commodity trading advisors (CTAs). Regulation D under the Securities Act of 1933, as First proposed in February 2011, the amendments implicate amended, into the definition of “qualified eligible several sections of Part 4, including Rule 4.5, upon which person” in Rule 4.7. many mutual funds and other registered investment • Adopt new Rule 4.27, which requires registered 2 CPOs and CTAs to annually file, respectively, Forms companies rely to avoid registering as a CPO. As adopted, CPO-PQR and CTA-PR with the National Futures revised Rule 4.5 will significantly narrow the relief from CPO Association (NFA). registration currently available for advisers to, and sponsors • Adopt a mandatory Risk Disclosure Statement for of, registered investment companies. Furthermore, since CPOs and CTAs addressing certain risks specific to many advisers to investment companies rely on a CTA swap transactions. registration exemption that is dependent upon the investment company’s ability to rely on Rule 4.5, the Amendments to Rule 4.5 amendments to Rule 4.5 will result in more advisers to Background registered investment companies having to register as CTAs.
    [Show full text]