Under this mandate, Manulife Asset Management will be managing approximately $15m of CNH bonds, also known as the CNH or Dim Sum bond market.
In July 2010, the Hospital Authority Provident Fund Scheme selected the Manulife Asset Management to manage its Hong Kong dollar bond investments for its Occupational Retirement Scheme Ordinance program (ORSO), which invests on behalf of about 35,000 staff members working in Hong Kong’s public hospitals.
Manulife Asset Management president and head of Asia said Dim Sum bonds have quickly captured investors’ interest not just for the opportunity to generate returns from the bonds themselves but also to gain access to the potential for longer term appreciation of the Renminbi.
Manulife Asset Management invests in CNH bonds on behalf of individual institutional investors and also as part of its Asia Total Return strategy, which currently has approximately 14% of the portfolio invested in this market.
