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Schroders outperformer dropped from Taiwan equity mandate

Schroders outperformer dropped from Taiwan equity mandate

Manulife Asset Management has opted to take its Taiwan equity fund in-house in a move which relinquishes Citywire + rated Louisa Lo from running the strategy, Citywire Global has learned.

Lo had run the Manulife Global Fund – Taiwan Equity fund since it was launched as a Luxembourg-domiciled strategy in January 2007.

However, the asset manager has opted to end the mandate and hand responsibility to a team within Manulife Asset Management (Taiwan), which is a subsidiary of Manulife Asset Management (Hong Kong).

In a notice to shareholders at the end of July, Manulife said it had moved the mandate due to the growing expertise in Taiwan equity within its Asian operations. It said the local knowledge of the Taiwanese-based team has further added to this.

The change comes into effect on October 1 2015 and coincides with changes to the group’s prospectus.

Lo continues to run several regional Asian equity strategies at Schroders, including the firm’s own Taiwan-focused fund, the Schroder ISF Taiwanese Equity fund, This is as well as two China equity mandates on behalf of Danske Invest.

The Manulife Global Fund – Taiwan Equity fund returned 38.8% over the three years to the end of July 2015. This compares to an average manager total teturn of 35.2%. Both measures are in New Taiwan Dollar.

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