Background of the Manager
The Manager, Manulife Asset Management Services Berhad, was incorporated in Malaysia on 30 September 2008 under the Companies Act, 1965. The Manager commenced operations as a unit trust management company in late 2009.
In 2012, pursuant to the rationalization and re-organization of the asset and unit trust management businesses of the Manulife group of companies where the business and assets of Manulife Asset Management (Malaysia) Sdn Bhd (“MAMM”) were transferred to the Manager, the Manager varied its Capital Markets and Services Licence for the regulated activity of “dealing in securities restricted to unit trust” to allow them to also conduct the regulated activity of “fund management” under the Act. With effect from 1 September 2014, the Manager is the holder of a Capital Markets Services Licence for the regulated activities of fund management, dealing in securities restricted to unit trusts, dealing in private retirement scheme and financial planning.
On 13 November 2013, Manulife Holdings Berhad entered into an agreement to fully acquire MAAKL Mutual Bhd. Following the completion of the acquisition by Manulife Holdings Berhad of the entire share capital of MAAKL Mutual Bhd on 31 December 2013, MAAKL Mutual Bhd became a wholly owned subsidiary of Manulife Holdings Berhad. Pursuant to a vesting order granted by the High Court of Malaya, the business and assets of MAAKL Mutual Bhd has been merged with Manulife Asset Management Services Berhad.
The investment professionals of the Manager form part of the Manulife group of companies’ asset management global network of investment professionals with more than 300 fund managers, analysts and traders who together provide comprehensive asset management solutions.
Summary of Financial Position of the Manager
The following is a summary of the past performance of the Manager based on audited accounts for the last three (3) years.
|Financial Year Ended 31 December|
|Profit/(Loss) Before Tax||(2,596,091)||(3,225,554)||(6,995,928)|
|Profit/(Loss) After Tax||(2,752,156)||(3,338,303)||(6,995,928)|