Global Unconstrained Bond Fund

Managed in Boston, the Manulife Global Unconstrained Bond Fund can draw on deep expertise across all asset classes and credit qualities of the fixed income universe to find the best opportunities.

What you need to know?

  • Fully unconstrained approach. Managers may explore all asset classes and credit qualities of the fixed income universe, globally.
  • Seasoned Investment Team. The portfolio managers are some of Manulife’s most senior investment professionals, led by Chief Investment Officer (CIO) for Global Fixed Income and his Asia (ex-Japan) CIO Fixed Income leader – veterans with decades of experience.
  • Active currency management. Their expertise in currency management helps mitigate risk, act as a diversifier and may provide additional return to the portfolio

Get to know the Manulife Global Unconstrained Bond Fund

The Fund includes both the Global Fixed Income Chief Investment Officer (CIO), and the CIO of Fixed Income Asia (ex-Japan), providing unique access to some of Manulife Asset Management’s most senior investment professionals. They operate in a boutique-style investment environment under the umbrella of Manulife Asset Management (MAM) and use active currency management to protect against currency risk and potentially improve returns.

John Addeo

Chief Investment Officer Global Fixed Income and Senior Portfolio Manager
Began career: 1985

Endre Pedersen

Chief Investment Officer Fixed Income, Asia (ex-Japan) and Senior Managing Director
Began career: 1999

Caryn Rothman

Managing Director and Portfolio Manager
Began career: 1997

Neal Capecci

Managing Director and Portfolio Manager
Began career: 1999

Their investment process

They seek to deliver competitive returns by identifying undervalued companies that have an attractive long-term outlook and by emphasizing downside risk protection. Specifically, they invest in companies where there is an identifiable catalyst for unlocking value and restoring confidence as well as in companies that exhibit the potential for a sustainable business model, a compelling value proposition and/or strong cash flows.

Graphic showing Manulife Global Unconstrained Bond Fund's investment process, encompassing portfolio construction and risk management.  Beginning with idea generation and research, which includes collaboration between all fixed income teams at Manulife Investment Management and a security by security analysis. At this stage, they consider upside and downside probabilities at the time of purchase. They seek the best risk-reward opportunities within the bond rating and capital structure. This is all considered with a macro and sector awareness. When looking to build the portfolio, they then consider both the relative value of the security as well as the liquidity. In terms of expected sources of return, 80 to 100% of returns is expected to come from security selection, sector allocation and quality of the securities. To a lessor extent, 0 to 20% of returns is expected to come from trading, duration and the yield curve.

Portfolio Construction & Risk Management

Their investment process allows them to review the entire capital structure and identify securities with the most potential for positive returns while minimizing risk.

Portfolio managers may use some or all of the techniques described herein. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment. Characteristics, guidelines and constraints are for illustrative purposes only. They may change at any time and may differ for a specific account.

We have resources around the world that allow us to analyze the global market in realtime, this adds value!

– John Addeo, Chief Investment Officer Global Fixed Income and Senior Portfolio Manager

Related materials

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund facts as well as the prospectus before investing. Manulife Funds are managed by Manulife Investments, a division of Manulife Asset Management Limited. Manulife, Manulife & Stylized M Design, Stylized M Design and Manulife Investments are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.

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