Diversification and active asset allocation—not the same
Diversification refers to how an investment portfolio is divided into various asset classes, such as stocks, bonds, and cash. Since different asset classes rarely perform in lockstep, the goal of diversification is to reduce investment risk, since positive returns from one asset class can be used to offset the returns from another that’s underperforming.
Active asset allocation takes diversification a step further. By determining which combination of assets can provide the highest return potential for a certain level of risk, it attempts to forecast the performance potential of a portfolio and reduce the chance of negative returns. Ongoing monitoring helps ensure the portfolio’s asset mix can adapt quickly to take advantage of changes in the financial markets. Active asset allocation is the same approach taken by large financial institutions and pension plans and is considered a best practice for wealth management.
Four actively managed portfolios
Manulife asset allocation portfolios consist of four actively managed fund-of-funds investment portfolios that include exchange-traded funds (ETFs). Each portfolio is designed for a specific risk tolerance and return objective.
They’re simple to understand, easy to buy, and provide your clients with access to some of the most popular mutual funds and ETFs that Manulife Investment Management offers in a single, one-ticket solution.
The presented asset allocation of the portfolios is for illustration purposes only. Actual asset allocation may vary. The asset allocation is based on the strategic mixes of each portfolio. Please refer to the fund facts for each portfolio investment mix.
Mutual fund portfolios
Features
- Pension-style management and oversight are provided by Manulife Investment Management’s asset allocation team
- Proprietary investment process is optimized by asset class, investment style, and geographical region
- Actively managed to help protect capital and keep your clients positioned for ever-changing markets
- Ongoing professional rebalancing to help manage each portfolio’s exposure to risk
- Comprehensive reporting
Segregated fund portfolios
Features
- Pension-style management and oversight are provided by Manulife Investment Management’s asset allocation team
- Proprietary investment process is optimized by asset class, investment style, and geographical region
- Actively managed to help protect capital and keep your clients positioned for ever-changing markets
- Ongoing professional rebalancing to help preserve each portfolio’s exposure to risk
- Comprehensive performance reporting
- Potential creditor protection
- Ability to bypass the estate
- Death benefit guarantee
- Maturity benefit guarantee
- Available in either GIF Select InvestmentPlus or MPIP Segregated Pools
Important disclosure
The presented asset allocation of the portfolios is for illustration purposes only. Actual asset allocation may vary. The asset allocation is based on the strategic mixes of each portfolio. Please refer to the fund facts for each portfolio investment mix.
Team and process
The team behind the portfolios—Manulife Investment Management’s asset allocation team
Applying active asset allocation successfully takes a proven team. Manulife Investment Management’s asset allocation team has built its reputation and global wealth management credentials on its asset allocation expertise. With over CAD $143 billion* in assets under management, the group manages a wide variety of investment solutions around the globe designed to meet investor goals.
The asset allocation team’s investment process
The asset allocation team’s investment process is amongst the most comprehensive in the industry and ensures every portfolio is optimized by asset class, investment style, and geographic region. The team applies a rigorous three-step process:
Step 1: build expected return forecasts
- Five-year investment returns forecast for 140 different asset classes
- Distinct approaches for asset classes
- Quarterly review
Step 2: asset class and strategy selection
- Asset allocation is the primary driver of returns
- Selection of complementary strategies with an emphasis on consistent results
- Annual review
Step 3: portfolio construction
- Four-pillar approach to ongoing active management
- Emphasis on managing risk
- Short-term opportunities reviewed weekly
Important disclosure
* As at September 30, 2020.
Meet the team
Portfolio managers

Nathan W. Thooft, CFA
Senior Managing Director, Senior Portfolio Manager, Global Head of the Asset Allocation Team
Manulife Investment Management

James Robertson, CIM
Senior Managing Director, Senior Portfolio Manager and Head of Asset Allocation Canada & Global Head of Tactical Allocation
Manulife Investment Management
Portfolio Specialist

Benjamin W. Forssell, CFA
Managing Director, Global Multi-Asset Client Portfolio Manager
Manulife Investment Management
Our funds
Since their inception in 2017 our asset allocation portfolios have delivered impressive performance for investors. Currently, these portfolios have an overall 4 and 5-star rating from Morningstar*.
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Manulife Balanced Portfolio Manulife Conservative Portfolio Manulife Growth Portfolio Manulife Moderate Portfolio
Mutual fund portfolios
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Manulife Conservative Portfolio GIF Select Manulife Moderate Portfolio GIF Select Manulife Balanced Portfolio GIF Select Manulife Growth Portfolio GIF Select Manulife Conservative Private Segregated Portfolio Manulife Moderate Private Segregated Portfolio Manulife Balanced Private Segregated Portfolio Manulife Growth Private Segregated Portfolio Manulife Conservative Portfolio Seg RESP Manulife Moderate Portfolio Seg RESP Manulife Balanced Portfolio Seg RESP Manulife Growth Portfolio Seg RESP
Segregated fund portfolios
Resources
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Manulife Investment Management’s asset allocation team overview Manulife asset allocation portfolios’ quarterly commentary Client brochure Client overview Client overview – Simplified Chinese Client overview – Traditional Chinese Top 10 reasons to consider Manulife asset allocation portfolios Series T brochure Investor profile questionnaire (PDF version) Investor profile questionnaire – Simplified Chinese Investor profile questionnaire – Traditional Chinese
Investor marketing materials
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Foresight April 2020: Key macro themes and market outlook Finding balance: The security of asset allocation in times of turbulence Rebalancing a portfolio can offer calm amidst the storm
Viewpoints
Asset allocation in turbulent times
We can’t predict the risks that cause market volatility, but we can be prepared for them. Host Philip Petursson finds out how Manulife Investment Management’s Asset Allocation team was prepared for the recent turbulence in the markets. Investments Unplugged: Episode 31
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Advisor overview (mutual funds) (advisor login required) Advisor overview (segregated funds) (advisor login required) Executive summary (segregated funds) (advisor login required) Manulife asset allocation portfolios’ quarterly snapshot (advisor login required) Manulife asset allocation portfolios’ underlying fund performance (advisor login required)
Advisor marketing materials
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Learn more
Asset allocation update and market outlook
Q4 2020 update
Philip Petursson, Chief Investment Strategist at Manulife Investment Management, is joined by James Robertson, Senior Managing Director, Senior Portfolio Manager, and Head of Asset Allocation, Canada at Manulife Investment Management. Philip and James discuss factors that contribute to today’s uncertain market conditions and why asset allocation positioning is more important than ever.
Regulatory Materials
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Prospectus/AIF Fund facts
Mutual fund portfolios
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GIF Select InvestmentPlus information folder and contract (PDF) GIF Select InvestmentPlus fund facts (PDF) MPIP Segregated Pools information folder and contract MPIP Segregated Pools fund facts and addendum Manulife Segregated Fund Education Savings Plan (ESP) Information Folder and Contract Manulife Segregated Fund Education Savings Plan (ESP) Fund Facts
Segregated fund portfolios
Source: Morningstar Direct. Rate of return as of November 30, 2020 are as follows: Manulife Conservative Portfolio (Series F): 1 year return: 6.15%, 3 year return: 5.15% and 4.72% since inception May 5, 2017. Manulife Moderate Portfolio (Series F): 1 year return: 7.79%, 3 year return: 5.70% and 5.43% since inception May 5, 2017. Manulife Balanced Portfolio (Series F): 1 year return: 8.99%, 3 year return: 6.42% and 6.21% since inception May 5, 2017. Manulife Growth Portfolio (Series F): 1 year return: 10.08%, 3 year return: 6.80% and 6.77% since inception May 5, 2017.
Morningstar Ratings: The Star Ratings as of November 30, 2020 for Series F for the Funds shown, and the number of funds within their categories for each period are as follows: Manulife Conservative Portfolio within the Global Fixed Income Balanced category: 3-year period, 628 funds, 4 stars. Manulife Moderate Portfolio within the Global Fixed Income Balanced category: 3-year period, 628 funds, 5 stars. Manulife Balanced Portfolio within the Global Neutral Balanced category: 3-year period, 1351 funds, 4 stars. Manulife Growth Portfolio within the Global Equity Balanced category: 3-year period, 1015 funds, 4 stars. Series F is generally designed for investors who have a fee-based or wrap account with their dealer. Series F performance is net of fees and expenses. Advisor Series is also available and includes a 1.00% trailing commission.
The Morningstar Rating, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Calculations are based on the funds in each Morningstar Category to better measure fund manager skill. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the top 22.5% receiving 4 stars. A fund in the middle 35% receiving 3 stars, a fund in the next 22.5% receiving 2 stars and a fund in the bottom 10% receiving 1 star.
The overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. Overall ratings are adjusted where a fund has less than 5 or 10 years of history. Please refer to www.morningstar.ca for greater detail on the calculation of the Star Ratings. © 2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of an asset allocation service. Please read the fund facts as well as the prospectus of the mutual funds in which investment may be made under the asset allocation service before investing. The indicated rates of return are the historical annual compounded total returns assuming the investment strategy recommended by the asset allocation service is used and after deduction of the fees and charges in respect of the service. The returns are based on the historical annual compounded total returns of the participating funds including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder in respect of a participating fund that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Manulife Asset Allocation Portfolios are managed by Manulife Investment Management Limited (formerly named Manulife Asset Management Limited). Manulife Investment Management is a trade name of Manulife Investment Management Limited. Manulife, Manulife Investment Management, the Stylized M Design, InvestmentPlus, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it and by its affiliates under license.
Manulife Asset Allocation Portfolios are available in the InvestmentPlus Series of the Manulife GIF Select, MPIP Segregated Pools and Manulife Segregated Fund Education Saving Plan insurance contracts offered by The Manufacturers Life Insurance Company.
The Manufacturers Life Insurance Company (Manulife) is the issuer of insurance contracts containing Manulife segregated funds and the guarantor of any guarantee provisions therein. Manulife Investment Management is a trade name of The Manufacturers Life Insurance Company.
Any amount that is allocated to a segregated fund is invested at the risk of the contractholder and may increase or decrease in value. Age restrictions and other conditions may apply.