Asia Total Return Bond

The strategy takes an unconstrained approach to Asian fixed-income investing, enabling the team to pursue alpha by targeting interest-rate, credit, and currency opportunities in the region’s hard and local currency bond markets. The strategy seeks to deliver strong risk-adjusted returns by maintaining a flexible portfolio that dynamically allocates across sovereign, quasisovereign, and corporate debt.

 

Philosophy

The team believes the inefficiencies embedded within Asia’s many heterogeneous fixed-income markets create opportunities in interest rates, credit, and currencies, allowing the potential to generate consistent, attractive, risk-adjusted returns. Leveraging the firm’s extensive footprint on the continent, the team is supported by the largest Asia-dedicated fixed-income platform in the industry, giving the team what it believes is an information advantage against many of its peers. 

Managed by

Endre Pedersen

Chief Investment Officer, Fixed Income, Asia (ex-Japan)

Endre is senior managing director and chief investment officer of fixed income in Asia (ex-Japan) for Manulife Investment Management, and is lead manager for the company’s pan-Asian fixed-income strategies. Endre has extensive investment experience in developed Asian markets, having managed single and multiple currency funds with exposure to Asian sovereign and corporate debt. Before joining the company, he worked as a senior fixed-income portfolio manager for DBS Asset Management and, prior to this, he was a fixed-income portfolio manager for Hermes Investment Management and F&C Management in London.

  • Education: B.Fin., University of Strathclyde, Strathclyde Business School
  • Joined the company: 2008
  • Began career: 1999
Endre Pedersen

Neal Capecci, CFA

Portfolio Manager, Asia ex-Japan Fixed Income

Neal is a managing director and portfolio manager at Manulife Investment Management, working with the fixed-income team. Based in London, Neal is an experienced portfolio manager of multi- and single currency Asia-Pacific bond mandates invested in both sovereign and corporate debt. He supports the pan-Asian bond strategies with an emphasis on Asian local currency debt markets. Before relocating to London, Neal worked for more than eight years at the company’s Hong Kong office. Prior to that, he served as a dedicated analyst and trader for the strategic income and international fixed-income strategies of the company’s Boston office. Earlier in his career, he was an investment associate at State Street Global Advisors in the United States. Neal holds the Certified Financial Analyst designation, and is a member of the CFA Society Boston.

  • Education: B.A. in Economics, College of the Holy Cross; M.B.A., University of Notre Dame
  • Joined the company: 2005
  • Began career: 1999
Neal Capecci, CFA

Jimond Wong, CFA, CPA

Portfolio Manager, Asia ex-Japan Fixed Income

Based in Hong Kong, Jimond is a managing director and portfolio manager for Manulife Investment Management. He supports the firm’s pan-Asian bond strategies with an emphasis on Asian credit markets. Before joining the company, Jimond was an executive director with the highly ranked credit research team at UBS Investment Bank, where he focused on high-yield corporate bonds. Prior to that, he worked at UBS proprietary credit trading and subsequently moved to a credit hedge fund seeded by a world-renowned alternative investment manager. Jimond has extensive knowledge of the entire Asian credit spectrum, from public and private placement bonds to special situation and distressed debts. He began his career as an accountant with KPMG. Jimond holds the Certified Financial Analyst and Certified Public Accountant designations.

  • Education: B.B.A., University of Hong Kong; M.B.A., Cornell University
  • Joined the company: 2013
  • Began career: 1998
Jimond Wong, CFA, CPA

Murray Collis

Deputy Chief Investment Officer, Fixed Income, Asia

Based in Singapore, Murray is  Deputy Chief Investment Officer for Manulife Investment Management, leading Singapore-based fixed-income strategies, with oversight of the Singapore-based local fixed-income investment team. He also supports the pan-Asian fixed-income team in the management of pan-Asian strategies. Murray has over 20 years of industry experience, 16 in portfolio management in markets, including London, Hong Kong, and Singapore. Most recently, Murray was the head of Asian fixed income (based in Singapore) for Standish Mellon Asset Management. Prior to that, he spent 16 years with First State Investments covering currencies, global bonds, and credit.

  • Education: B.Com., B.Econ., University of Newcastle, Australia
  • Joined the company: 2016
  • Began career: 1996
Murray Collis

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

    October 2009

  • Strategy AUM (USD)

    $325.26 million

  • Benchmark

    50% JPMorgan Asia Credit Index,
    50% JPMorgan Emerging Local Market Plus Asia Index

  • Style

    Multi-sector Asian bonds

  • Expected tracking error

    Maximum of 3.5%

  • Average portfolio manager experience

    22 years

Important disclosures

All information shown is as of September 30, 2020, 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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