Saturday, January 20, 2018

Manulife ties up with Agricultural Bank of China

Manulife has agreed to partner with Agricultural Bank of China (ABC) to find opportunities in retirement and related businesses in China.

Initial agreement between the two parties indicates that they will explore financial solution distribution opportunities in the country.

These solutions will be offered by Manulife Teda Fund Management and the group’s insurance joint venture, Manulife-Sinochem Life Insurance, through ABC’s network.

Manulife Teda, which has US$12.5 billion of assets under management, is the first company in China to launch a target volatility fund.

Aside from this, it is also among the first batch of six asset managers qualified to offer fund of funds products, which it says will be highly relevant to the Chinese pension market.

In a statement, Manulife also said funds managed by Manulife Teda might also be drawn upon by Manulife-Sinochem for the development of insurance-based retirement products.

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