Canadian Corporate Plus Fixed Income

The strategy offers dynamic exposure to the Canadian, U.S. high-yield, and global corporate bond markets, while seeking enhanced total return opportunities through an active approach to credit, sector and security selection, and yield curve management.

 

Philosophy

The team believes that there are pockets of value throughout the fixed-income market, especially in the high-yield sector. Thorough credit and yield curve analysis enables the team to identify and exploit these values in the pursuit of long-term returns, while seeking to mitigate risk. Within this framework, the team seeks to take a creative approach to uncovering investment ideas, with the goal of offering clients a portfolio reflective of some of the most current thinking in the industry.

 

Documents

Managed by

Richard Kos, CFA

Senior Portfolio Manager, High Yield and Floating Rate Income

Richard is managing director and senior portfolio manager of high-yield securities at Manulife Investment Management, and is manager of the high-yield bond component of several of the company’s fixed-income strategies. Prior to joining the company, he held various positions with the Royal Bank of Canada (RBC), which included coverage and trading of high-yield bonds; coverage of the food, alcohol, and tobacco sectors; and portfolio analytics. While at RBC, Richard worked under Terry Carr for a number of years before Terry recruited him to come to Manulife. Richard holds the Certified Financial Analyst designation.

  • Education: B.A.Sc. in Engineering, University of Toronto; M.B.A., Richard Ivey School of Business, Western University
  • Joined the company: 2004
  • Began career: 1993
Richard Kos, CFA

Jonathan Crescenzi, CFA

Senior Investment Analyst, Canadian Fixed Income

Jonathan is a senior investment analyst at Manulife Investment Management, where he supports the firm’s Canadian high-yield fixed-income strategies. Prior to joining the firm in 2009, he completed internships as a research analyst at UBS Global Asset Management and, prior to that, at American International Group. Jonathan holds the Chartered Financial Analyst designation.

  • Education: B.B.A., Finance, Wilfrid Laurier University
  • Joined the company: 2009
  • Began career: 2007
Jonathan Crescenzi, CFA

Roshan Thiru, CFA

Head of Canadian Fixed Income

Roshan leads the Canadian fixed income team at Manulife Investment Management and is responsible for the Toronto- and Montreal-based fixed income and money market teams. Previously, he was a senior portfolio manager and senior fixed-income analyst. Prior to joining the company, he was a lead analyst with DBRS, covering the energy, project finance, and utilities sectors. Before that, he worked as an institutional credit risk manager at RBC Financial and as an analyst at Foyston, Gordon & Payne. Roshan holds the Certified Financial Analyst designation.

  • Education: B.A. in Economics, McMaster University; diploma in accounting, Wilfrid Laurier University; M.B.A., University of Windsor
  • Joined the company: 2008
  • Began career: 2000 
Roshan Thiru, CFA

José Manuel Saracut, CFA, FRM

Senior Credit Analyst, Canadian Fixed Income

José is a senior credit analyst with the Canadian fixed-income team at Manulife Investment Management, where he’s responsible for credit research and recommendations for numerous investment-grade fixed-income mandates. Prior to joining the firm in 2015, he was a senior credit analyst with Standard Life Investments, whose Canadian operations were acquired by Manulife that year. His prior work experience included senior financial analyst roles at SNC-Lavalin and Bombardier. José holds the Chartered Financial Analyst and Financial Risk Manager designations. In addition to his work with Manulife Investment Management, he has been a part-time lecturer at the University of Montreal since 2012.

  • Education: B.A., Economics, Universidad Torcuato Di Tella (Argentina); Finance Diploma, Haas School of Business at the University of California, Berkeley
  • Joined the company: 2015
  • Began career: 1998
José Manuel Saracut, CFA, FRM

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

    September 2003

  • Strategy AUM (CAD)

    $920.6 million

  • Benchmark

    50% FTSE Canada All Corporate Bond Index,
    50% Bank of America ML High Yield Constrained Index (hedged to CAD)

  • Style

    Multidiscipline

  • Average portfolio manager experience

    21 years

Important disclosures

All information shown is as of June 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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