Manulife Finl Stock Price, News & Analysis

Manulife Financial Corporation has appointed Don Lindsay as Vice Chair of the Board of Directors, effective immediately. Lindsay, who brings extensive leadership experience from his tenure at Teck Resources Limited and CIBC World Markets, will succeed John Cassaday as Chair upon Cassaday's retirement on February 15, 2023. The change aims to enhance board leadership as Manulife continues its mission of improving customer experiences.

John Hancock Investment Management announced enhancements to its municipal fund suite, effective October 1, 2022. These changes include management fee reductions and expense cap adjustments for the John Hancock Municipal Opportunities Fund, California Municipal Bond Fund, and High Yield Municipal Bond Fund, resulting in lower expense ratios for shareholders. Additionally, the eligibility for Class A shares was lowered from $1 million to $250,000, increasing access for investors. The launch of the John Hancock Short Duration Municipal Opportunities Fund also aims for tax-exempt total returns while preserving capital.

Manulife Investment Management has announced the acquisition of Alliance Gateway 11, a 788,160 square foot industrial warehouse in Fort Worth, Texas. The property is fully leased to a prominent tenant operating an e-commerce fulfillment center. Strategically located on a 38.2-acre site, it benefits from proximity to over 1.67 million residents and key transport facilities. This acquisition aligns with Manulife's strategy to enhance its industrial portfolio, which has seen growth in the Dallas-Fort Worth area, now the fourth largest metropolitan area in the U.S., with significant industrial market expansion.

Manulife Investment Management has released its latest Global Intelligence report, titled Historic Headwinds, which examines significant investment challenges in 2022, including Russia's invasion of Ukraine and rising inflation. Key topics analyzed include food security, political instability, and the impact of these events on sovereign bond markets. The report emphasizes the role of governments and asset managers in addressing issues such as gender pension income gaps in Asia. CEO Paul Lorentz noted the importance of building resilient portfolios amidst these historical challenges.

On October 14, 2022, Manulife Investment Management announced the acquisition of over 1,400 acres of agricultural land in Fresno County, California. The properties include a 500-acre orchard of almonds, pistachios, and citrus, and a 900-acre pistachio orchard. These acquisitions enhance their existing management of 22,500 acres of orchards in California, capitalizing on economies of scale. The company aims to provide economic returns while supporting rural communities and sustainable practices.

Manulife (NYSE: MFC) has pledged $1 million to support World Central Kitchen (WCK) in global disaster response and food security initiatives. This commitment is part of Manulife's Impact Agenda, which focuses on health, economic opportunity, and sustainability. WCK has been active in areas affected by recent hurricanes, providing meals to impacted communities. Tom Crohan emphasized the importance of this investment for both immediate recovery and long-term community resilience.

Venerable Holdings has completed a significant reinsurance transaction with Manulife Financial Corporation (MFC), covering a block of variable annuity business from its subsidiary John Hancock. This 80% quota share reinsurance involves approximately $1.6 billion in account value as of August 31, 2022, primarily including policies with guaranteed minimum withdrawal benefit riders. Venerable's Chairman, David Marcinek, indicated that the deal reflects the strength of both organizations amid uncertain market conditions.

John Hancock Investment Management has appointed four new trustees to the John Hancock Group of Funds Board, enhancing its strategic approach to fund management. Notable appointments include Noni L. Ellison, Dean Garfield, Patricia Lizarraga, and Paul Lorentz, each bringing significant expertise in finance, governance, and regulatory affairs. The board now comprises 12 independent trustees, focused on evolving the investment landscape and addressing future challenges. The appointments aim to 'future proof' the board, ensuring strong governance and strategic oversight in a competitive environment.