Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Investment VIPs

Manulife Starts Managed Account Operation

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Sept. 18, 1:16 p.m. – Manulife USA, Boston, a unit of Manulife Financial Corp., Toronto, is entering the managed account business.

A managed account is the modern version of what used to be known as a large, diversified individual investment portfolio.

The new Manulife Private Account program will require a minimum investment of $100,000. The typical client will probably be a wealthy investor who wants personalized service combined with efforts to maximize returns and minimize taxes, Manulife says.

Manulife Financial will use several money managers to shape investment strategy.

Citigroup Asset Management, New York, a unit of Citigroup Inc., will be the “overlay portfolio manager.” As the overlay manager, Citigroup will be responsible for limiting duplication of holdings and preventing excess use of any one investment style, Manulife says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.