Manulife Financial Corp , Canada's largest life insurer, said on Monday it plans to expand its private asset management business, allowing clients its such as pension funds to invest in timberland, farmland, real estate and private equity assets.Toronto-based Manulife, which manages money for pension plans, sovereign wealth funds, endowments and midsized insurers, said the expansion will open up a range of new investment opportunities for such clients and institutional investors.The company has funds under management of some C$575 billion ($549.11 billion), of this, roughly C$265 billion is managed on behalf of such third-party clients.Kevin Adolphe, who will head Manulife's new private markets asset management segment, said the move comes as institutional clients are allocating more of their money in such assets.
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. Shares of MFC fell by 0.19% or $-0.035/share to $18.80. In the past year, the shares have traded as low as $11.59 and as high as $18.92. On average, 1709200 shares of MFC exchange hands on a given day and today's volume is recorded at 2223456.
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. Shares of MFC fell by 0.2% or $-0.04/share to $19.68. In the past year, the shares have traded as low as $11.65 and as high as $19.85. On average, 2867120 shares of MFC.TO exchange hands on a given day and today's volume is recorded at 1606908.
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