Manulife China Bank Life reports gains in variable peso-denominated fund

MANILA, Philippines - The Manulife China Bank Life Assurance Corp. (Manulife China Bank Life) has reported that its variable life peso-denominated bond fund posted a one-year return of 12.6 percent, as of July this year.

Manulife China Bank Life is the bancassurance joint venture company of Manulife Philippines and China Banking Corp. (China Bank). China Bank is a member of the SM Group of Companies while Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corp., the world’s third largest and North America’s largest life insurance company by market capitalization.

Manulife China Bank Life Assurance Corp. president and chief executive officer Naresh Krishnan said that Enrich Peso Bond Fund is an attractive investment alternative for investors who are seeking highly competitive returns.

 The peso bond fund, along with other variable life funds being offered by Manulife China Bank Life also gives our policy owners flexibility in terms of making switches in their fund allocations as their risk and return objectives change. In addition, policy owners get added benefits with the funds built-in guaranteed protection features, Krishnan added.

The goal of Manulife China Bank Life is to fully complement the existing suite of financial products and services offered by China Bank to help it become a one-stop shop financial services solutions provider for its existing as well as prospective customers.

The variable life funds are being managed by a local investment team that is part of a global network of interconnected financial professionals under MFC Global Investment Management, the asset management arm of Manulife Financial.

The peso bond fund seeks to achieve stable and long term growth by investing in Philippine peso-denominated government securities, high-quality corporate debt securities and/or in pooled funds that invest in these securities and other liquid fixed income instruments.

Manulife China Bank Life products and services are available at the 200 China Bank branches nationwide.

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Funds under management by Manulife Financial and its subsidiaries were C$421 billion ($362 billion) end June.

The Manulife Philippines Group is composed of financial services subsidiaries Manufacturers Life Insurance Co. (Phils.) Inc, Manulife Financial Plans Inc. and Manulife China Bank Life. It will establish its own asset management company by next year.