Financial Industries

The strategy seeks to provide exposure to financials sector stocks worldwide that are attractively valued relative to key fundamental measures. Taking a long-term view, the team’s actively managed approach offers broad exposure to the financials sector, with the flexibility to invest globally and across the market capitalization spectrum.

Philosophy

We believe that long‐term outperformance can be achieved by taking advantage of the market’s focus on short‐term factors. To accomplish this, we seek to create a portfolio of U.S. bank stocks that are attractively valued relative to their quality of management, favorable positioning, market opportunity, or profitability. To that end, we seek to invest in companies that are cyclically depressed with low price‐to‐earnings or price‐to‐book values, have above-peer profitability or have demonstrated the ability to improve it over time, can exploit dislocation within primary or new operating markets, and possess management teams with good capital discipline and execution of strategy.

Managed by

Susan A. Curry

Portfolio Manager, Capital Appreciation

Susan is a managing director and portfolio manager at Manulife Investment Management, overseeing the financial industries and regional bank strategies as part of the financial institutions team. Prior to joining the team as an investment analyst, Susan worked as a portfolio officer for the private client group. She began her career at Fidelity Investments, where she served as a research analyst.

  • Education: B.A. in Economics, University of Massachusetts; M.S. in Finance, Brandeis University
  • Joined the company: 1998
  • Began career: 1993
Susan A. Curry

Ryan P. Lentell, CFA

Portfolio Manager, Capital Appreciation

Ryan is a managing director and portfolio manager at John Hancock Asset Management, where he's a member of the financial institutions team. Prior to joining the team in 2008 as an investment analyst, he was a senior equity analyst at Morningstar and a vice president at Lentell Group. Ryan began his career in 1999 as a consultant at PricewaterhouseCoopers. He earned a B.S. from the University of Virginia, an M.B.A. from the University of Notre Dame, and holds the Chartered Financial Analyst designation.

 

Ryan P. Lentell, CFA

Lisa A. Welch

Senior Portfolio Manager, Capital Appreciation

Lisa is a senior managing director and senior portfolio manager at Manulife Investment Management, as well as the lead of the capital appreciation team. Lisa is also the team leader and a lead portfolio manager on the financial institutions team, which manages both the regional bank and financial industries strategies; she’s also a portfolio manager of John Hancock Balanced Fund (USA), Manulife U.S. Opportunities Fund (Canada), and the large-cap equity institutional equity strategy. In addition to her portfolio manager responsibilities, Lisa specializes in U.S. banking companies and provides fundamental equity research on financial companies for all diversified strategies managed by the company’s capital appreciation team. Prior to joining the company, Lisa was a senior supervisory analyst for the bank supervision and regulation division of the Federal Reserve Bank of Boston, as well as a senior bank examiner for the Federal Reserve Bank of New York.

  • Education: B.A. in Economics, Boston College; M.B.A., Bentley College
  • Joined the company: 1998
  • Began career: 1986
Lisa A. Welch

Vehicles

At Manulife Investment Management, we offer investment strategies through a variety of vehicles to suit a broad range of client needs. Contact our institutional sales or consultant relations team to find out if this strategy/vehicle is offered in your region. 

Separate accounts

Our separate accounts and separately managed accounts (SMAs) are designed for institutions and high-net-worth clients seeking tailored investment solutions and direct ownership of securities. 

CITs

Our professionally managed collective investment trusts (CITs) are available in certain qualified retirement plans.

Mutual funds

Mutual funds are liquid, professionally managed portfolios which are available to both institutional and retail investors.


Key facts

Inception date

March 1996

Strategy AUM (USD)

$595.0 million

Benchmark

S&P 500 Financials Index

Style

Financial sector

Expected tracking error

3% to 6%

Average portfolio manager experience

27 years

Important disclosures

All information shown is as of December 31, 2019, unless otherwise indicated. Strategy-level information may differ from vehicle-specific information. Not all vehicles are available in all locations and may be offered through affiliates of Manulife Investment Management.


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