Total Return Bond

The strategy seeks to generate income, consistent with providing attractive total returns, primarily from the securitized market. The team invests in the full range of securitized assets, including commercial mortgage-backed securities, collateralized loan obligations, asset-backed securities, and both agency and non-agency mortgage-backed securities.

 

Philosophy

The team believes the securitized asset market is characterized by inefficiencies—particularly regarding information barriers and limited competition in a large market—that can create attractive investment opportunities. The portfolio is managed with a value tilt and a focus on diversification, income generation as a consistent component of total return, and maximizing risk efficiency.

Managed by

Peter M. Farley, CFA

Senior Portfolio Manager, Securitized Assets

Peter is a senior portfolio manager for Manulife Investment Management, and is responsible for managing and overseeing the securitized asset team’s various total return and absolute return strategies. His primary sector focus in securitized assets is commercial mortgage-backed securities and corporate credit. Prior to joining the company, Peter worked at Declaration. Peter holds the Certified Financial Analyst designation, and is a member of the CFA Institute and the CFA Society Washington.

  • Education: B.A. in Economics and Political Science, University of Connecticut; M.B.A. in Finance and Real Estate, George Washington University
  • Joined the company: 1996
  • Began career: 1995
Peter M. Farley, CFA

Jeffrey N. Given, CFA

Senior Portfolio Manager, Co-Head of U.S. Core and Core Plus Fixed Income

Jeff is co-head of the U.S. Core and Core Plus Fixed Income team and is responsible for securitized, core and core plus fixed income, government bond, and municipal bond strategies. Prior to joining the portfolio management team, he was focused on research and trading in mortgage-backed securities within the Manulife fixed-income teams. Previously, he was an investment compliance analyst at the company. Jeff holds the Chartered Financial Analyst designation and is a member of the CFA Society Boston. 

  • Education: B.S. in Business Administration, Boston University; M.S. in Finance, Boston College
  • Joined the company: 1993
  • Began career: 1993
Jeffrey N. Given, CFA

David A. Bees, CFA

Associate Portfolio Manager, Securitized Assets

David is an associate portfolio manager at Manulife Investment Management, focusing on dedicated securitized strategies, specifically covering the residential mortgage-backed securities market in a portfolio management role. Previously, he provided research and analysis for nonagency residential mortgage- and asset-backed securities; prior to that, David was responsible for all mortgage securities trading at the company. He began his career at FleetBoston Financial. David holds the Certified Financial Analyst designation, and is a member of the CFA Society Boston.

  • Education: B.S. in Finance, Syracuse University; M.S. in Finance, Northeastern University
  • Joined the company: 2001
  • Began career: 2000    
David A. Bees, CFA

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

    February 2011

  • Strategy AUM (USD)

    $637.16 million

  • Benchmark

    Bloomberg Barclays U.S. Aggregate Bond Index

  • Style

    Securitized assets

  • Average portfolio manager experience

    24 years

Important disclosures

All information shown is as of March 31, 2021, 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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